SINGAPORE: Singapore’s economy was boosted by a “surge in tourism activity” in the first quarter of 2024 due to concerts by British rock band Coldplay and American pop star Taylor Swift, the Monetary Authority of Singapore (MAS) said on Friday (Apr 26). Both acts played at the 55,000-capacity National Stadium – Singapore’s largest stadium – … Read more
That said, there continues to be “significant” downside risks in the global economy. For example, an escalation of the Israel-Hamas conflict or the Russia-Ukraine war could disrupt global supply chains and commodity markets, and in turn weigh on global trade and growth. There is also the risk of “lagged effects” from monetary policy tightening that … Read more
But core inflation, which is a key barometer for the central bank, should decline gradually and step down by the fourth quarter before falling further next year, MAS added. The key inflation gauge is expected to slow to an average of 2.5 to 3.5 per cent for 2024, unchanged from earlier estimates. Excluding the impact … Read more
CONCERNS RAISED Twelve MPs rose to ask for clarifications during the debate, although only Non-Constituency Member of Parliament Leong Mun Wai objected to the Bill. Several MPs wanted a clear definition of “national security interest” and raised questions about safeguards against abuse of ministerial powers. They also highlighted concerns that the law would have a … Read more
SECTOR PERFORMANCES The manufacturing sector expanded by 3.2 per cent year-on-year in the fourth quarter of 2023, a turnaround from the 4.7 per cent contraction in the previous quarter. “Growth in the sector was due to output expansions across all clusters, with the exception of the precision engineering cluster,” MTI said. On a quarter-on-quarter seasonally-adjusted … Read more
