US pharmaceutical giant MSD opens new packaging facility in Singapore
Singapore’s ambition to become a biopharmaceutical manufacturing hub just got a big boost. US pharmaceutical giant MSD has opened a new packaging facility at its site in Tuas for its immunotherapy drug KEYTRUDA and HPV vaccine GARDASIL. The company also…
Singapore’s manufacturing activity contracts in September for first time in 26 months
Singapore’s manufacturing activity fell in September for the first time in 26 months, due to the electronics sector weakening amid high inflation and geopolitical uncertainties. The Purchasing Managers’ Index, which measures factory output, dipped 0.1 point to 49.9. The index…
Australia’s house prices drop as central bank tipped to raise interest rates again
The Reserve Bank of Australia is once again tipped to raise interest rates when it meets tomorrow. Market watchers are wagering another half a percent increase, which would send shudders through the real estate industry already on the slide. But…
India’s poor still hardest hit as central bank set for fourth straight rate hike to tame inflation
India’s central bank is due to announce its latest interest rate decision on Friday (Sep 30). It’s widely expected to raise rates for the fourth consecutive time in an effort to bring steep inflation under control. Soaring inflation hits India’s…
Taiwan to end COVID-19 quarantine for arrivals from Oct 13
Taiwan is looking to throw open its borders to welcome tourists back. The island will end its mandatory COVID-19 quarantine for arrivals from Oct 13. Local airlines are gearing up for the reopening, with the number of flights expected to…
Thailand joins race to lure high-income foreign talent
Thailand is offering perks to draw foreign talent as it tries to revive its economy and secure its long-term economic future. Applicants must either have $80,000 in annual income or half as much when they hold a Master’s degree relevant…
High value-added work no longer confined to a specific geographical locality: Chan Chun Sing
As much as 30% of Singapore’s workforce may have to learn something new every year in order for the country to stay competitive. Education Minister Chan Chun Sing said this regular “top up” of skills should complement companies’ appetite for…
Shanghai unveils $257b in infrastructure projects as economy slumps on COVID-19 lockdowns
China’s commercial and financial hub Shanghai is trying to revive its economy, which is still suffering from a two-month COVID-19 lockdown. It’s launching eight infrastructure projects with a total investment of nearly $260 billion. These include deep-sea offshore wind power…
Updated transformation roadmap to create up to 4,000 jobs a year in financial services sector
Singapore’s financial services sector aims to create up to 4,000 jobs a year until 2025, and is targeting annual growth at an average of 4% to 5%. To help achieve these goals, it’ll receive a boost of $500 million through…
Govt will monitor business costs closely and provide support when needed: Low Yen Ling
Even as Singapore recovers from the COVID-19 pandemic, rising business costs remain a concern, with global supply disruptions and a tight labour market casting a shadow. The government said it is closely monitoring the situation, keeping an eye on surging…