All surpluses are given back to Singaporeans in different forms: Lawrence Wong

surplus, government, inflation, set, GST, inflation, NIRC

When WP Jamus Lim wrote in a Facebook post that ‘the government must not make money while citizens suffer’ he was just doing what an Opposition MP usually does, using emotive language to paint the government in a negative light even when it is not true. Thus he looks with glee upon the surpluses the […]

Staying open and forging a way forward amidst uncertainties

trade, Singapore, economy

During The Economist’s Asia Trade Insight Hour series, a webinar was held on the economic outlook for trade. Mr Chan Chun Sing, Minister of Trade and Industry, noted that global trade has lifted millions out of poverty. There is, however, a growing number of people who oppose trade because of the uneven distribution of benefits. […]

In fast-evolving ground realities, standing still is not an option

Chan, Singapore, Change, Job, Chun, Tension, World, Work, Sing

The world has changed irrevocably. The geopolitical environment that has allowed Singapore to thrive in the last 50 years has changed. To thrive in a fast-evolving landscape, the nation will need to continue to innovate with a purpose by turning possibilities, fuelled by passion, into reality. Geopolitical tensions Tensions between major powers are rising. Hopefully, […]

No, Singapore isn’t returning to the pre-COVID days

Singapore, World

A steep slump as the Singapore economy contracted by 13.2% year-on-year in Q2, 2020. This makes for our worst quarterly performance on record as Singapore narrowed its economic forecast for 2020 to a contraction between 5 and 7%. Grim outlook. It reflects the devastating impact of Covid-19 as well as the deeper forces reshaping the […]

Strong foreign exchange reserves kept us from starvation: Lee Kuan Yew

Crisis, Food, Prices, Lee, Singapore, Increase

Is there a reason Singapore holds reserves? The reserves of Singapore serve three purposes: To provide a buffer against crises; Provide a stream of investment income to finance a part of government budgets; Maintaining confidence in Singapore’s exchange rate-based monetary policy. A reserve is therefore a rainy day fund, an endowment fund, and a stabilization […]

Singapore and Australia sign Digital economy Agreement

Digital economy Singapore

The Signing of the Singapore-Australia Digital Economy Agreement (SADEA) on August 6 2020, marks a milestone in the long-standing and multi-faceted partnership between Singapore and Australia. It will allow our companies to take advantage of opportunities in the digital economy and tap on new technologies to create new digital products and services, Trade & Industry […]