Minister Mentor Lee Kuan Yew says Singapore is facing its most promising decade ahead. He expects the economy to grow by up to 7 or 8 per cent over the next few years, barring a global economic downturn. He was speaking at a dialogue session organised by the Monetary Authority of Singapore (MAS) and the Economics Society of Singapore (ESS) on Friday. Mr Lee told his 800-strong audience of industry...
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Singapore will introduce a new Long Term Pass (LTP) card to all foreigners residing in Singapore on Student’s Pass (STP), long term visit pass, Employment Pass (EP) and Dependant’s Pass. The move is part of the government’s initiative to enhance the national security of the country, said the Immigration & Checkpoints Authority (ICA) and the Ministry of Manpower (MOM) in a joint statement on...
The massive road intersection between Serangoon and MacPherson Roads will be upgraded at a cost of 130 million Singapore dollars and will be completed in 2011. The Woodsville Interchange is one of the busiest in Singapore. In each hour during peak periods, over 8,500 vehicles ply the four arterial roads that form the intersection. The roads are Serangoon, Upper Serangoon, Bendemeer and MacPherson...
Hong Kong and Singapore are the two economies most conducive to global trade, according to a ranking by the World Economic Forum released on Wednesday. The World Economic Forum's new Global Enabling Trade Index survey of 118 economies looked at ten factors impacting trade, such as tariffs, customs administration efficiency and availability of transport and communications infrastructure. Tourists in...
Singapore is fast rising in the ranks of becoming one of the most expensive cities in Asia for expatriates to live in. The latest Cost of Living survey by consultancy firm ECA International shows that Singapore has leapt 17 places in ranking this year. The city-state is now ranked 13, trailing behind cities such as Beijing, Taipei and Shanghai. Higher food and fuel prices are among the reasons for the...
Singapore ranks second in Asia after Tokyo as a key centre of commerce, according to a study by MasterCard Worldwide Research. The study ranks the top 75 centres of commerce by comparing how they perform critical functions that connect markets around the world. Globally, Singapore takes fourth spot ahead of Hong Kong which is sixth in this year's index. According to the study, Singapore shines as a...
Across Asia, household wealth is estimated to be worth as much as US$16 trillion and there are signs that a greater portion of it is shifting to Singapore. This is according to VP Bank, which is the latest bank to receive a merchant banking licence here. The Liechtenstein-based private bank has set up shop in Singapore to target ultra-high net worth clients, both here and around the region. Currently,...
There continues to be strong demand for talent in the financial and accounting sector in Singapore. That's according to a series of polls conducted by global recruitment agency Robert Half International. The global survey included 5400 finance professionals from 18 countries. Out of the 300 hiring managers surveyed from Singapore, 40 per cent said they would expand their finance team within the next six...
National Development Minister Mah Bow Tan has unveiled some features of the Malay Village facelift under the URA Draft Master Plan 2008. In outlining future plans for the Paya Lebar area in Parliament on Monday, the minister said a substantial portion of the Malay Village site will be reserved for a new civic building. It will house a variety of amenities, including a Community Club, the Community...
Kallang and Paya Lebar will be developed into new commercial hubs, just like the Jurong Lake District. This is part of the government's Draft Master Plan, which charts land use over the next 10 to 15 years. Marina Bay and the city centre will continue to be the key commercial node in Singapore. New growth areas like Tanjong Pagar, Beach Road and the Ophir-Rochor corridor will also be developed. However,...