Singapore

U.S. tariffs will have multiplier effects that will "generate a broader negative income and demand shock to the Singapore economy", the Monetary Authority of Singapore said in its macroeconomic review released on Monday. As well as the direct impact of a 10% baseline tariff on Singapore's exports to the U.S., its second-largest export market, there will also be indirect effects from the tariffs levied on other countries, the central bank said. The MAS said the tariffs were a production tax on producers and exporters that would impact corporate incomes and profits and constrain aggregate demand in the city-state. Singapore, which ran a trade deficit with the U.S. last year, has a lower "reciprocal" tariff rate than other Southeast Asian countries, although Washington has suspended...

Singapore’s sovereign wealth management ecosystem, comprising the Government Investment Corporation (GIC), Temasek Holdings, and the Monetary Authority of Singapore (MAS), has been instrumental in securing financial stability and generating long-term returns. However, the shifting global economic landscape necessitates a third sovereign fund—one specifically designed to capitalize on high-growth opportunities in the Global South while accelerating domestic innovation. As global economic power disperses — the Global South an emergent pole —and the dynamics of investment evolve, Singapore must proactively adapt to sustain its financial influence. The creation of a third sovereign fund would serve as a strategic tool to: Expand Singapore’s economic reach into high-growth but underinves...

FUJIFILM Business Innovation Singapore was honoured for transforming Changi Airport Group’s (CAG) maintenance operations with its innovative Asset Inspection and Management System (AIMS), designed and curated by CAG’s Engineering Development Group (E&D) Innovation & Process Enhancement (IPE) team over a six-year journey. This was a win-win collaboration, where the E&D IPE team used their subject matter knowledge of CAG’s operations to jointly develop an “all-in-one” Asset Management digital tool with FBSG. FUJIFILM Business Innovation Singapore won the IT Services accolade at the Singapore Business Review (SBR) International Business Awards 2025 after it successfully streamlined operations for CAG’s E&D team through the use of AIMS. The newly implemented solution aut...

Financial infrastructure firm Decentro partnered Singapore-based fintech DigiAlly to ramp up presence in Southeast Asia, launching a business credit underwriting solution. The partnership will enable the Bengaluru-based company to enter global markets such as Singapore, Vietnam, South Korea, Australia, The Philippines, Indonesia, and deepen presence in India. Decentro launched a unified business financial intelligence suite that enables companies in the banking, financial services, and insurance (BFSI) sector to analyse financial reports and trade history. It also allows verification of data into a single sheet.

Welcome to this special issue of the Singapore Edition newsletter. I’m John Cheng, Asia stocks reporter in Singapore, with a roundup on the market turmoil in our region triggered by US President Donald Trump’s shock tariff announcements last week. Sign up here for future editions. Lower down, I’ve added links to our best coverage from across Asia Pacific and world. Tariffs Test City-State’s Haven StatusSingapore’s status as an oasis of stability in times of crisis is being severely tested, as traders grapple with the worst stock selloff since the Global Financial Crisis. The Straits Times Index Monday fell 7.5%, in its biggest drop since Oct. 2008, with all 30 members of the benchmark in the red. True, Singapore isn’t the worst performer in Asia Pacific: Hong Kong’s Hang Seng Ind...