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☆ Singapore non oil domestic exports plunge 20.7%, misses expectations by a huge margin
▼ + stars: | 2024-04-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore's non-oil domestic exports plunged 20.7% in March from a year ago, a sharp decline from the revised 0.2% fall in February. The 20.7% fall missed expectations by a huge margin, with economists polled by Reuters forecasting a 7% fall. This is the largest drop in non-oil domestic exports recorded by Singapore since January 2023. On a month-on-month basis, non-oil domestic exports slid 8.4%, also more than the 4.5% expected in the Reuters forecast. Non-oil domestic exports to Singapore's top markets declined in March, particularly for the U.S., the European Union and Japan.

Persons: Singapore's Organizations: Reuters, Enterprise Singapore, European Union, . Enterprise Singapore Locations: Marina, Sands, Singapore, Japan, China, Hong Kong, Taiwan

☆ Enterprise Singapore chairman: Deep tech is a 'long-term play'
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnterprise Singapore chairman: Deep tech is a 'long-term play'Lee Chuan Teck, chairman of Enterprise Singapore, says deep tech isn't about "generating productivity in the immediate few years."

Persons: Lee Chuan Teck Organizations: Email Enterprise Singapore, Enterprise Singapore

☆ I visited the ExploreAI summit in Singapore. Here's how AI is helping businesses solve real-world problems.
▼ + stars: | 2024-03-14 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

I attended the ExploreAI summit on January 29, which marked the successful conclusion of the AI Trailblazers initiative. Minister Josephine revealed AI Trailblazers 2.0 to advance Singapore's National AI Strategy 2.0 and deepen AI use across Singapore. The event marked the successful conclusion of the AI Trailblazers initiative — an effort to help Singapore-based organizations develop 100 generative AI (GenAI) solutions over 100 days. Minister Teo announced plans to build on the success of the first AI Trailblazers program with AI Trailblazers 2.0. This collaboration between AI Trailblazers and Google exemplifies Singapore's dedication to using AI for the betterment of everyone, from residents to businesses.

Persons: Josephine, Kris LeBoutillier, he's, I'm, Mark Micallef, John Ang, Temus, Ang, Tan, Keow, —, Long Yin, What's, Josephine Teo, Teo Organizations: Google Asia Pacific, Singapore's Ministry of Communications, Information, MCI, Digital Industry Singapore, Smart Nation Group, Enterprise Singapore, Google, Southeast, of Information Technology, Nanyang Polytechnic, People's Association, AI, Ministry of Communications, Insider Studios, Singapore Economic Development Board Locations: Singapore, Asia, ExploreAI, Southeast Asia, Temus

☆ I was a commando who trained with Navy SEALs. Dealing with risky situations helped me navigate the corporate jungle.
▼ + stars: | 2024-03-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

It's now been 10 fulfilling years that I have spent in the private sector. But if I were to liken corporate life to my military experience, I would compare working in the private sector to parachuting. Some mourn the loss of camaraderie and the sense of purpose when one leaves the army for the private sector. And in the military, things are straightforward. AdvertisementSo, it's true that the private sector is inherently transactional, albeit in a different way.

Persons: Kwong Weng Yap, —, Yap, Singapore's, Lim Chuan Poh, It's, I've, you'll, Kwong Weng Organizations: Singapore Armed Forces, Service, National Cadet Corps, NCC, SAF, Navy, Defence Force, Enterprise Singapore Locations: Singapore, Australia, Yap, Myanmar, Vietnam, Southeast Asia, Ukraine, China

☆ Red Sea crisis hasn't had a significant direct impact on Singapore, government agency says
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRed Sea crisis hasn't had a significant direct impact on Singapore, government agency saysLee Chuan Teck, CEO of Enterprise Singapore, says "many of our oil traders, commodity importers, are making plans to divert their [cargo]."

Persons: hasn't, Lee Chuan Teck Organizations: Enterprise Singapore Locations: Singapore

☆ Singapore's non-oil exports fall for a 11th month in August
▼ + stars: | 2023-09-18 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 18 (Reuters) - Singapore's annual exports fell for an 11th straight month in August as the trade-reliant economy continues to grapple with global headwinds on inflation and declining demand. Singapore's non-oil domestic exports (NODX) fell 20.1% year-on-year in August, official data showed on Monday, as both electronics and non-electronics exports to the United States, Europe and China declined. Economists are expecting the Monetary Authority of Singapore (MAS) to keep monetary policy unchanged in the policy review scheduled next month due to the weak growth and persistent inflation. NODX to the United States contracted by 32.4% in August, after the 34.3% expansion in the preceding month, mainly due to the sharp decline in non-electronic exports. Last month, Singapore narrowed its economic growth forecast to 0.5% to 1.5% this year from 0.5% to 2.5%, after it narrowly averted a recession in the second quarter when its economy expanded a seasonally-adjusted 0.1%.

Persons: Brian Tan, it's, Tan, Chen Lin, Kanupriya Kapoor Organizations: Barclays, Authority of Singapore, MAS, Enterprise Singapore, Thomson Locations: SINGAPORE, United States, Europe, China, Singapore

NEW DELHI, April 6 (Reuters) - Singapore's imports of Russian naphtha nearly tripled in the first quarter of 2023, government data showed, after the European Union banned oil products imports from Russia. The Asia oil hub imported 741,000 tonnes of Russian naphtha in the period, accounting for about 23% of Singapore's total imports of the refined product, a Reuters calculation based on Enterprise Singapore data showed. The EU banned imports of Russian oil products from Feb. 5 and the Group of Seven Nations, EU and Australia imposed a $45 cap on Russian naphtha trade using western ships and insurance. The limitations, which have changed global oil trade flows, are aimed at curbing Moscow's revenues, while allowing Russian supplies to stay in the market and keep world oil prices low. The key buyers of naphtha from Singapore are South Korea, China, Taiwan and Japan, the data showed.

But manufacturers across the eurozone have reported business activity has been falling for nine months since June 2022 according to purchasing managers’ surveys. U.S. manufacturers have reported business activity has been falling for five months since November 2022 according to the Institute for Supply Management (ISM)’s purchasing survey. But the deficit had narrowed from 63 million barrels (-15% or -2.05 standard deviations) at the end of June 2022, according to data from Euroilstock. U.S. distillate fuel oil inventories were 18 million barrels (-14% or -1.08 standard deviations) below the prior 10-year seasonal average on March 31. In Singapore, distillate inventories have risen in 12 of the 15 most recent weeks by a total of 3 million barrels, according to data from Enterprise Singapore.

☆ Singapore exports rise 3.1% year-on-year in September, missing forecasts
▼ + stars: | 2022-10-17 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A ship docks at Keppel terminal in Singapore November 17, 2020. REUTERS/Edgar SuSINGAPORE (Reuters) - Singapore’s September non-oil domestic exports (NODX) grew 3.1% year-on-year, official data showed on Monday, slower than the previous month and missing forecasts due to declines in shipments for the Chinese and Hong Kong markets. On a seasonally adjusted month-on-month basis, NODX fell 4%, Enterprise Singapore data showed, versus the prior month’s 3.9% decline. Electronic NODX fell 10.6% on year in September, with integrated circuits, disk media products and personal computer parts declining by 12.0%, 42.7% and 22.3% respectively. Non-electronic NODX grew 7.6%, with pharmaceuticals, measuring instruments and non-monetary gold contributing the most to the growth.

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