Singapore’s economy avoided a recession and expanded 1.2 percent in 2023, Prime Minister Lee Hsien Loong said Sunday, warning however that geopolitical risks will weigh on next year’s growth. The affluent city-state’s economic performance is often seen as a barometer of the global environment because of its reliance on international trade.
Singapore increases goods and services tax
Singapore raised its goods and services tax (GST) from 8% to 9% on January 1. The GST hike has caused concern among Singaporeans, and many bookstores, and art dealers and theatre companies, in the ...
UOB Kay Hian downgrades Singapore banking sector to ‘market weight’ amid anticipated interest rate downcycle
UOB Kay Hian analyst Jonathan Koh has downgraded the Singapore banking sector to “market weight” amid an upcoming interest rate downcycle. The US Federal Reserve has paused its rate hike for the third ...
Singapore dollar has chance of three-peat on inflation fight
The Singapore dollar beat out all its Asian counterparts in each of the past two years. The chance of leading the region for a third straight year rests with the central bank.
HSBC takes on Revolut, Wise with new forex app for non-customers
HSBC Holdings is set to debut an international payments app aimed at directly challenging the dominance of fintechs such as Revolut and Wise that have gathered tens of millions of retail customers by ...
Seatrium takes green finance raised to over $1.5bn with latest facility
Singapore firm encouraged by strong support of its banks in its ongoing efforts in pursuing sustainability in its business operations ...
Singapore Increases Goods and Sales Tax for 2024
Singapore has increased its goods and sales tax (GST) rate by one percent to nine percent as of January 1, 2024.
Singapore wraps up 2023 with highest quarterly economic growth at 2.8%
The city state's economy grew 2.8% year-on-year in the final quarter of 2023, and 1.2% for 2023, in line with expectations from Singapore's trade and industry ministry.
Singapore private home prices rose at slower pace of 6.7% in 2023
SINGAPORE: Private home prices in Singapore rose at a slower pace for the second consecutive year in 2023, increasing 6.7 per cent compared with 8.6 per cent in 2022 and 10.6 per cent in 2021. ( read original story ...)
Singapore Private Residential Property Prices Rose in Fourth Quarter
By P.R. Venkat Private property prices in Singapore gained pace in the fourth quarter but moderated for the full year. The index of private ... ( read original story ...)
Look Ahead 2024: Stronger economy, lower inflation and interest rates expected in Singapore, but experts urge prudence
It may seem like the dark clouds looming over Singapore's post-pandemic economy in 2023 might finally dissipate in 2024, but that does not mean ...
Singapore avoids recession as PM Lee warns of ‘troubled’ world
Singapore’s economy avoided a recession in 2023 as Prime Minister Lee Hsien Loong warned of a “troubled” international environment that will weigh on growth and security.
Singapore’s economy surged 2.8% in the fourth quarter, its highest quarterly growth in 2023
The city state's economy grew 2.8% year-on-year in the final quarter of 2023, and 1.2% for 2023, in line with expectations from Singapore's trade and industry ministry.
Singapore stocks open stronger on Tuesday; STI up 0.5%
Banking stocks rose in early morning trade. DBS : D05 +0.54% was trading up 0.6 per cent or S$0.20 at S$33.61. UOB : U11 +0.81% was up 0.7 per cent or S$0.21 at S$28.66, and OCBC : O39 +0.23% rose 0.3 ...
Singapore’s Q4 GDP growth speeds up
Singapore's economy grew 1.2% in 2023, moderating from the 3.6% growth in 2022, preliminary government data showed on Tuesday. Gross domestic product (GDP) was up 2.8% in the October to December ...
Q4 growth of 2.8% on manufacturing upturn lifts Singapore’s 2023 full-year growth to 1.2%
SINGAPORE’S economy expanded 1.2 per cent year on year in 2023, pulled up by stronger growth in the fourth quarter, advance estimates from the Ministry of Trade and Industry (MTI) showed on Tuesday ...