Singapore factory output rebounds with 17.9% rise in November

SINGAPORE – Singapore’s manufacturing industry bounced back with a bigger-than-expected rise in November, boosted by a surge in biomedical and semiconductor production. Factory output expanded 17.9 per cent year on year, following a revised 0.8 per cent dip in October,…

Covid-19 wiped out 81 million jobs in Asia-Pacific this year: UN agency

GENEVA (BLOOMBERG) – The economic blow from coronavirus has wiped out 81 million jobs across Asia-Pacific this year, with women and young people disproportionately affected, according to the International Labour Organization (ILO). “Covid-19 has inflicted a hammer-blow on the region’s…

US and Singapore ink memorandum to improve trade relations

WASHINGTON (AFP) – The United States on Tuesday (Dec 15) announced it had signed a memorandum of understanding to improve trade relations with Singapore, as both countries eye economic recoveries following the Covid-19 pandemic. The United States is already the…

Retail, F&B sales in Singapore drop at smaller rate in October

SINGAPORE – The slump in retail sales eased in October, although most segments still registered double-digit declines, according to data out by the Department of Statistics on Friday (Dec 4). Takings at the till dropped 8.6 per cent, compared with…

Going green could bring Asean $1.3 trillion in benefits: Report

Going green could bring up to US$1 trillion (S$1.3 trillion) in annual economic benefits to South-east Asian economies by 2030, a report by global management consulting firm Bain and Company said yesterday. Greater investments in renewable energy, reduced consumption and…