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Search resuls for: "Singapore's Economic"


7 mentions found


☆ India and Singapore agree to cooperate on chips as countries seek to strengthen partnership
  + stars: | 2024-09-05 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com   time to read: +4 min
The announcement comes during Indian Prime Minister Narendra Modi's two-day visit to the Lion City, which began Wednesday following a trip to Brunei. The next phase of the Singapore-India partnership is very promising," Singapore Deputy Prime Minister Heng Swee Keat said at the Singapore-India Forum organized by the Singapore-India Partnership Foundation, Institute of South Asian Studies and the Singapore Business Federation. "Singapore, India and the rest of Asia must continue to strengthen on economic connectivity and integration, to allow for capital, ideas and talent to find their optimal uses," he said. We want to create a bunch of Singapores in India," Modi said in a meeting with Wong. watch nowOn Wednesday, Modi and Singapore's Prime Minister Lawrence Wong visited Singaporean semiconductor and electronics company AEM, signaling their intent to increase cooperation in chips.
Persons: Narendra Modi, Brunei Sultan Hassanal, Dean Kassim, Narendra Modi's, Heng Swee Keat, Modi, Wong, Lawrence Wong, Heng, Ajit Doval, It's, Anit Mukherjee Organizations: India's, Istana Nurul, Afp, Getty, SINGAPORE —, Indian, Lion, Singapore -, India Partnership Foundation, Institute of South Asian Studies, Singapore Business Federation, U.S, International Monetary Fund, Singapore's, National, Imports, CNBC, Modi's, King's College London, Economic, Board Locations: Brunei Sultan, Istana Nurul Iman, Bandar Seri Begawan, SINGAPORE, SINGAPORE — India, Singapore, Brunei, India, Singapore - India, Asia, —, China, Germany, Japan
☆ Singapore's economic losses due to heat stress could nearly double to over $1.5 billion in 2035
  + stars: | 2024-04-03 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com   time to read: +2 min
Singapore's economic losses due to heat stress could nearly double to $1.64 billion in 2035 from pre-pandemic 2018 due to a decline in labor productivity, a recent study by the National University of Singapore showed. Back in 2018, heat strain caused an 11.3% fall in average productivity across Singapore's four big economic sectors — services, construction, manufacturing and agriculture. Fall in productivity is expected to rise to 14% in 2035, leading to an economic loss of S$2.22 billion ($1.64 billion), after adjusting for inflation, the NUS Project HeatSafe report said. The loss will be significantly higher for workers exposed to adverse environmental conditions — those working working under the sun, or being exposed to other sources of heat such as machineries. Last July, United Nations' Secretary-General Antonio Guterres cautioned that the world has moved away from global warming to "an era of global boiling."
Persons: Natalia Borzino, Antonio Guterres Organizations: National University of Singapore, NUS, ETH, United Nations Locations: 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
☆ Singapore DBS Q3 profit beats view, sees steady earnings next year
  + stars: | 2023-11-06 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com   time to read: +3 min
DBS, which is also Southeast Asia's largest lender, has already forecast a record full-year profit for the current year. "Net profit (for 2024) to be maintained around record 2023 level," CEO Piyush Gupta said in results presentation materials. The bank's July-September net profit rose to S$2.63 billion ($1.94 billion) from S$2.24 billion a year earlier as total income grew to a record on higher interest margins and fee income. Besides higher global interest rates, Singapore banks have benefitted from strong inflows of wealth drawn in by the city-state's political stability. Smaller peer United Overseas Bank (UOBH.SI) reported in end-October a weaker-than-expected 1% drop in third-quarter net profit.
Persons: Ann Wang, Piyush Gupta, Gupta, Yantoultra Ngui, Josie Kao Organizations: DBS, REUTERS, Bank, Q3 SINGAPORE, LSEG, United Overseas Bank, Chinese Banking Corp, Thomson Locations: Taipei, Taiwan, Singapore
☆ Lucasfilm shutters its Singapore studio after nearly 2 decades in the country amid Disney's plan to save $5.5 billion this year
  + stars: | 2023-08-15 | by ( Kai Xiang Teo | Pete Syme | ) www.businessinsider.com   time to read: +3 min
Lucasfilm is shutting down its Singapore operations after nearly 20 years in the country. The shuttering comes amid Disney's push to save $5.5 billion in costs this year. Lucasfilm Singapore was the company's first international studio, located in its Star Wars-inspired "Sandcrawler" office. Lucasfilm is shutting down its Singapore operations after nearly two decades, the city-state's government said Tuesday. "Over the next several months, ILM will be consolidating its global footprint and winding down its Singapore studio due to economic factors affecting the industry," Disney said in a statement to the AFP.
Persons: Disney, Bob Iger, George Lucas Organizations: Lucasfilm, Lucasfilm Singapore, Morning, ILM, Force, AFP, Infocomm Media Development Authority, Disney, Channel News Asia, Cartoon Network, New York Times, Los Angeles Times, Blackstone Group Locations: Singapore
☆ Marvell founders launch $2 bln chips foundry in Singapore
  + stars: | 2023-07-20 | by ( Fanny Potkin | ) www.reuters.com   time to read: +1 min
[1/3] Silicon Box's chiplets are displayed during the opening of their advanced semiconductor manufacturing foundry in Singapore July 20, 2023. REUTERS/Edgar SuSINGAPORE, July 20 (Reuters) - Singapore-based Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of "chiplet" technology. Silicon Box was created by the founders of U.S chipmaker Marvell (MRVL.O), Sehat Sutardja and wife Weili Dai, along with current CEO BJ Han. CEO Han told Reuters that "customers had been lining up" even before the factory's launch, with artificial intelligence firms driving demand. He said Silicon Box was in talks to supply Canadian AI startup company Tenstorrent.
Persons: Edgar Su SINGAPORE, Sehat Sutardja, Weili Dai, BJ Han, Han, Fanny Potkin, Sam Holmes Organizations: REUTERS, Singapore's Economic, U.S chipmaker Marvell, Reuters, Thomson Locations: Singapore
☆ Singapore unexpectedly leaves monetary policy unchanged as risks grow
  + stars: | 2023-04-14 | by ( ) www.reuters.com   time to read: +3 min
SINGAPORE, April 14 (Reuters) - Singapore's central bank on Friday left its monetary policy settings unchanged, reflecting the city-state's concerns about its growth outlook and surprising economists who had expected another round of tightening. It was the first time the Monetary Authority of Singapore (MAS) has left policy unchanged since April 2021. MAS had from October 2021 tightened monetary policy five times in a row, including in two off-cycle tightening moves last year in January and July. The MAS said in a statement that its previous tightening moves were "still working through the economy and should dampen inflation further". Alex Holmes, senior economist at Oxford Economics, said he does not expect any unwinding of recent tightening moves until late 2024.
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