US pharmaceutical giant MSD opens new packaging facility in Singapore

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 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…

High value-added work no longer confined to a specific geographical locality: Chan Chun Sing

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…

Updated transformation roadmap to create up to 4,000 jobs a year in financial services sector

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…

Singapore's retail, hospitality sectors have rebounded to near pre-pandemic levels: Low Yen Ling

Singapore’s retail, hospitality sectors have rebounded to near pre-pandemic levels: Low Yen Ling

Singapore’s hotel and retail sectors have recovered to near pre-pandemic levels, with the rebound in travel proving a welcome shot in the arm. Hotel room revenue in July was about $319 million — a near five-fold increase on-year. Some 1.5…

Singapore retail sales grow at slower pace of 13.7% in July

Singapore retail sales grow at slower pace of 13.7% in July

Retail sales in Singapore are up, driven by clothing and F&B. One analyst said this is due to a rise in shopping activity, after COVID-19 restrictions were eased. These segments helped push July sales up by 13.7%, a slight dip…

Managing Singapore's economy a fine balance of expenditure on needs, demands of society: Shanmugam

Managing Singapore’s economy a fine balance of expenditure on needs, demands of society: Shanmugam

Home Affairs and Law Minister K Shanmugam has outlined Singapore’s economic realities at an annual ministerial forum with over 300 students from Nanyang Technological University. He laid out Singapore’s financial position as a way to explore areas of keen interest…

Singapore's factory activity expands at slower pace in Aug on back of weakened electronics sector

Singapore’s factory activity expands at slower pace in Aug on back of weakened electronics sector

Singapore’s manufacturing activity expanded at a slower pace in August, for the third month in a row. That’s due to a weakened electronics sector, which contracted for the first time in 24 months. The Purchasing Managers’ Index dipped 0.1 point…

Economists cut Singapore's 2022 growth forecast to 3.5%: MAS survey

Economists cut Singapore’s 2022 growth forecast to 3.5%: MAS survey

Private sector economists are tipping Singapore’s economy to grow by 3.5% this year — down from the 3.8% forecast earlier. They are worried about a slowdown among Singapore’s major trading partners, a sharper-than-expected rise in inflation, and an escalation in…

Singapore factory output growth slows to 0.6% due to lower electronics, biomedical output

Singapore factory output growth slows to 0.6% due to lower electronics, biomedical output

Lower electronics and biomedical production dragged Singapore’s manufacturing output lower for the second straight month. It grew 0.6% on-year in July, well below economists’ expectations of a 5.3% increase. The biomedical cluster was down by 10.8% on the back of…