Singapore

Singaporean carrier’s first-quarter net profit plunges almost 60% Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/c6bb891e-a9ac-4e34-b95a-7334a4bd4df9 Singapore Airlines suffered a 59 per cent drop in profits last quarter as it was hit by losses from its stake in Air India, the carrier embroiled in India’s worst aviation disaster in three decades. Net profits at Singapore’s national carrier fell from S$452mn ($301mn) to S$1...

Singapore's economy grew a faster-than-expected 4.3% in the second quarter year-on-year, preliminary government data showed on Monday, despite a dimming outlook due to global economic uncertainty. The trade ministry's advance estimate for gross domestic product in the April to June period compared to an expected expansion of 3.5% according to economists polled by Reuters. On a quarter-on-quarter seasonally adjusted basis, GDP gew 1.4% in the April to June period, the advance estimates showed, avoiding a technical recession after the first quarter's revised 0.5% contraction. "The economy is holding up despite tariff and geopolitical shocks. The de-escalation in the U.S.-China tariff war and front-loading of exports during the 90-day reprieve has cushioned the tariff shocks," s...

Singapore’s economy grew at 1.4% in the second quarter of 2025, avoiding a technical recession as it reversed the 0.5% contraction recorded in the first three months of the year. On a year-over-year basis, the country’s economy expanded 4.3% in the second quarter of 2025, accelerating from 4.1% in the first three months and beating expectations. A Reuters poll of economists had forecasted a 3.5% growth. A technical recession is commonly defined as two consecutive quarter-over-quarter declines in a country’s GDP. Analysts polled by Reuters had estimated a 0.6% quarter-over-quarter growth. The GDP growth was led by the manufacturing sector, which expanded 5.5% year over year, up from 4.4% in the first quarter of 2025. The sector makes up about 17% of the country’s economy. S...

More retail investors and wealthy people in Singapore are turning to gold as rising prices and easier access fuel demand.At OCBC, the number of customers investing in gold more than doubled in April compared with a year earlier, according to Vasu Menon, managing director of investment strategy at the lender. Roughly 90% of these investors are retail or personal banking customers, The Straits Times reported. The average amounts invested also rose over 30% year-on-year, raising the investment allocation in gold by nearly five percentage points. UOB, another lender, has seen a similar surge in demand through its gold savings accounts. Its head of global markets, Kelvin Ng, said the average number of gold purchases made through these accounts climbed by 85% year-on-year in the fi...

China and Singapore vowed on Monday to enhance their bilateral ties, actively expand third-market cooperation, jointly safeguard the multilateral trading system, and uphold stable and unimpeded global industrial and supply chains. Premier Li Qiang and visiting Singaporean Prime Minister Lawrence Wong made the pledge during their talks in Beijing. Li said that China and Singapore are friendly neighbors and important partners. Over the past 35 years since the establishment of diplomatic relations, bilateral ties have been improving continuously, and practical cooperation has yielded fruitful results, he said. Li expressed China's willingness to maintain close high-level exchanges with Singapore, strengthen strategic communication, consolidate political mutual trust, and deliver...

Hong Kong General Chamber of Commerce publishes inaugural index formulated with help of global market research firm Ipsos Hong Kong has been ranked as the most international city in Asia, narrowly beating out rival Singapore, in a new index released by a major business lobbying group. But the Hong Kong General Chamber of Commerce also warned that the city must address glaring weaknesses in innovation and talent to secure its future amid rising geopolitical risks. The inaugural “Asian Cities Internationality Index 2025”, released on Tuesday, ranked Hong Kong first with a score of 73.7, just two-tenths of a point ahead of Singapore at 73.5. Shanghai was the top-ranked mainland Chinese city, placing fifth with a score of 65.1. The Swiss-based International Institute for Manag...

Global uncertainty has introduced new challenges to the economic landscape. Here’s how Singapore banks are holding up, and whether it’s a good time to buy their stocks.  Often regarded as core holdings for income-focused portfolios, Singapore’s leading banks—DBS, OCBC, and UOB—are valued for their stability, consistently offering attractive dividend yields of just under 6%.  But with recent global uncertainties and evolving market dynamics, investors are asking: Is it still a good time to buy Singapore bank stocks? Singapore Banks in the Current Global Climate Global and Geopolitical Dynamics Rising protectionism and renewed US tariffs have reignited concerns over global trade. Singapore, despite strong US ties, faces a blanket 10% tariff—less severe than othe...

Stock markets in Asia slid and oil prices soared on June 23 after US air strikes on Iran’s nuclear facilities raised the threat of further military escalation in a region that accounts for a third of global crude output. But along with other regional markets, Singapore erased most of its losses as traders nervously awaited Iran’s response to the US attack. The Straits Times Index closed down 0.1 per cent at 3,879.26, after falling 0.9 per cent earlier. Global oil benchmark Brent, after surging as much as 5.7 per cent to US$81.40, was also little changed at US$77.05 a barrel at 5.06pm. However, oil prices are far from 2025’s low of US$60.23 a barrel on May 5. The US on June 22 sent military jets to bomb three Iranian nuclear sites in a mission dubbed Operation Midnight Hamm...

The Singapore–Asia Taxonomy for Sustainable Finance (SAT) has set rigorous standards for green and transition financing, establishing important benchmarks for ASEAN countries interoperable with the EU Taxonomy. To further its effectiveness and global relevance, the SAT should encourage more widespread adoption, raise public awareness of sustainable finance, maintain alignment with evolving global energy transition standards and conduct periodic assessments of its integration into decision-making processes. Since its launch in December 2023, the Singapore–Asia Taxonomy for Sustainable Finance (SAT) has made significant progress in establishing clear standards and strengthening regional and global developments for sustainable finance initiatives. But if the SAT wants to remain the be...