Latest news with #Singaporeeconomy
CNA
2 days ago
- Business
- CNA
Talking Point 2025/2026 - What's Really Eating Our F&B Businesses? (Pt 1)
23:17 Min Talking Point 2025/2026 Amid a spate of unprecedented closures, Diana Ser finds out what's really eating Singapore's F&B businesses, and how it affects you. Talking Point 2025/2026 About the show: With a fresh approach to tackling the issues of the day, Talking Point investigates a current issue or event, offering different perspectives to local stories and reveals how it all affects you.
Yahoo
17-06-2025
- Business
- Yahoo
YAHOO POLL: Are you happy with the civil servants mid-year bonus?
The Singapore civil servant mid-year bonus 2025 will be 0.4 months, with junior-grade officers receiving an additional one-time payment of up to $400, said the Public Service Division (PSD). According to a statement on 16 June by the PSD, the mid-year bonus takes into account Singapore's economic performance in the first quarter of 2025, and the 'subdued economic outlook' for this year. "Given the forecast of weaker gross domestic product (GDP) growth and the downside economic risks, the public sector unions and the Government will jointly monitor the economic performance for the rest of the year, and will calibrate the year-end payments accordingly," they wrote. On top of the bonus, civil servants in grades equivalent to MX13(I) and MX14 will receive a one-time payment of $250. For those in grades equivalent to MX15 and MX16, as well as those in the Operations Support Scheme, they will receive a higher one-time payment of $400. Other polls YAHOO POLL: Did you manage to rebook your affected Jetstar Asia flight? YAHOO POLL: Do you think getting Botox is safe? YAHOO POLL: Would you date someone shorter than you? Both PSD and the National Trades Union Congress (NTUC) said separately that the payments were decided in consultation with the civil service unions. Singapore's economy grew by 3.9 per cent on a year-on-year basis in the first quarter of 2025, said the PSD. Meanwhile, the Ministry of Trade and Industry maintained the GDP growth forecast of 0 per cent to 2 per cent for 2025. PSD said, "Given the forecast of weaker gross domestic product (GDP) growth and the downside economic risks, the public sector unions and the Government will jointly monitor the economic performance for the rest of the year, and will calibrate the year-end payments accordingly." So, we want to hear from you – are you happy with the civil servants mid-year bonus? Related: Civil servants to get 0.4-month mid-year bonus Singapore's civil servants set for 1.05-month year-end bonus amid strong economic growth Singapore's civil service is world's best according to Oxford Uni study
Yahoo
16-06-2025
- Business
- Yahoo
Singapore home sales drop to five-month low on tariff fears
By Gabrielle Ng (Bloomberg) – Singapore's new private home sales fell to a five-month low in May, as global tariff tensions weighed on demand in the trade-dependent city-state. Developer sales dropped for a third consecutive month, with just 311 units bought last month, according to data released by the Urban Redevelopment Authority on Monday. The outlook for the Southeast Asian financial hub has dimmed, following Donald Trump's push for tariffs and the city-state's economy contracting in the first quarter. Developers have grown more cautious, launching no major projects for sale in May – a pause that further weighed on sales figures. A first-quarter survey of senior real estate executives found that nearly 90% viewed a global economic slowdown as a risk. Their next biggest concerns were job losses and a weakening domestic economy. Singapore faces heightened risks of a recession due to export hits brought on by tariffs, Bloomberg Economics analyst Tamara Henderson said in a report earlier this month. Authorities have adopted a more cautious approach, offering land that could yield 4,725 private housing units in the second half of the year – a 6% drop from the first half. Instead, they expanded the so-called reserve list, where land parcels are only triggered for tender if there's sufficient demand from developers. The market's sluggish performance is expected to persist into June, typically a slow month due to school holidays. One project in the city's east sold fewer than 10% of its 107 freehold units during its launch weekend earlier this month. More stories like this are available on ©2025 Bloomberg L.P.
South China Morning Post
16-06-2025
- Business
- South China Morning Post
Trade worries drag down Singapore's home sales to 5-month low
Singapore 's new private home sales fell to a five-month low in May, as global tariff tensions weighed on demand in the trade-dependent city state. Developer sales dropped for a third consecutive month, with just 311 units bought last month, according to data released by the Urban Redevelopment Authority on Monday. The outlook for the Southeast Asian financial hub has dimmed, following US President Donald Trump 's push for tariffs and the city state's economy contracting in the first quarter. Developers have grown more cautious, launching no major projects for sale in May – a pause that further weighed on sales figures. People gather along the boardwalk in front of the skyline at Marina Bay in Singapore. Photo: AFP A first-quarter survey of senior real-estate executives found that nearly 90 per cent viewed a global economic slowdown as a risk. Their next biggest concerns were job losses and a weakening domestic economy. Singapore faces heightened risks of a recession due to export hits brought on by tariffs, Bloomberg Economics analyst Tamara Henderson said in a report earlier this month. Authorities have adopted a more cautious approach, offering land that could yield 4,725 private housing units in the second half of the year – a 6 per cent drop from the first half. Instead, they expanded the so-called reserve list, where land parcels are only triggered for tender if there is sufficient demand from developers.
Independent Singapore
22-05-2025
- Business
- Independent Singapore
Singapore economy grows 3.9% in Q1 2025 but full-year outlook cut amid global uncertainty
Depositphotos/obstando SINGAPORE: Singapore's economy expanded by 3.9% in the first quarter of 2025 compared to the same period last year but with global trade conditions deteriorating and earlier gains expected to ease, the government has trimmed its growth forecast for the rest of the year. Compared to the fourth quarter of 2024, which saw a 5% increase, the first quarter of 2025 reflects a deceleration. On a quarter-on-quarter basis, adjusted for seasonal fluctuations, the economy shrank by 0.6%, reversing the 0.5% growth seen in the previous three months. In light of these trends, the Ministry of Trade and Industry (MTI) revised its full-year GDP growth forecast to between 0.0% and 2.0%, down from its earlier projection of 1.0% to 3.0%. Despite the quarterly contraction, some sectors continued to provide support. Wholesale trade, manufacturing, and finance and insurance were the top contributors to growth in the first quarter. Part of this uptick, particularly in manufacturing and wholesale trade, was driven by front-loading activity—businesses speeding up their imports and exports in anticipation of higher tariffs in the US. However, MTI cautioned that the lift from front-loading is temporary. As global demand cools and advanced shipments taper off, industries such as transportation and storage could come under pressure, especially with slower movement of goods by sea and air. On the domestic front, the picture was less encouraging. Accommodation and food services was dragged down by underperformance in higher-end hotel segments. Retail trade also struggled to gain traction, given a combination of more Singaporeans shopping overseas and growing uncertainty in the job market. The finance and insurance sector is also expected to moderate in the months ahead. MTI pointed to weaker trading activity and a slowdown in payments-related services as indicators of a broader cooling in business sentiment and consumer confidence. The ministry cited external pressures like ongoing geopolitical tensions, particularly the knock-on effects of rising tariffs between the United States and China, as key reasons for the revised forecasts.
