During this time, the government invested heavily in its budding financial services industry. There was abundant timber and fresh water, and a natural deep water harbor which would be beneficial for the British fleet. The property obtained the "5-Star Deluxe" classification in 2017, ranking it as one of five hotels in Chennai to have obtained this highly sought after accreditation. In regards to packaging materials, it currently caters to major brands in garment industry, FMCG, cosmetics and pharmaceuticals in Sri Lanka. [153], Aitken Spence serves as survey and claim settling agents for Lloyd's of London since 1876, covering the commercial ports in Sri Lanka and the Republic of Maldives. Singapore Airlines offers five classes of service Suites, First class, Business class, Premium Economy class, and Economy class. The banks involved included Credit Suisse AG, Deutsche Bank AG, The Hongkong and Shanghai Banking Corporation Limited, ING Bank N.V., Citibank N.A. [14], Branding and publicity efforts have revolved primarily around flight crew,[15][16] in contrast to most other airlines, who tend to emphasise aircraft and services in general. Despite the setbacks from nationalization, in realizing the then government's thrust to boost tourism, Aitken Spence launched its tourism segment in 1972 with investments in its first hotel (Neptune Hotel in Beruwala, Sri Lanka opened in 1974).
Bitcoin News, Recent Updates, Price and Analysis Bitcoinist slightly increase rate of appreciation of SGD NEER band; no change to width and the level at which it is centred. [77], It was estimated by the economist Chua Hak Bin, the Singapore circuit breaker measures in response to the pandemic, beginning on 7 April could impact the economy to the tune of S$10billion. Free upgrade to enterprise license (allows to share across all company locations), 5. [6][7][8] The company is one of the first signatories to the UN's Global Compact in Sri Lanka. [11] With insurance sector being deregulated in the 1980s, the Group played a pivotal role in the resurgence of private sector insurance as a proponent of the National Insurance Corporation and Union Assurance Ltd, stakes in which Aitken Spence subsequently divested. [82], As of 2014, Temasek holds S$69billion of assets in Singapore, accounting for 7% of the total capitalization of Singapore-listed companies. Similar seats are used on the Airbus A350-900 XWB. Singapore is also a regional, continental and global hub for the management and operations of various MNCs, because of its strategic location in close proximity with other Asia-Pacific markets, along with its advanced connectivity and infrastructure (airline hub and maritime port with a diverse array of destinations, Gigabit fiber-optic communications, efficient road transport and public transport) and its immigration policies in welcoming global talent. [63] The government highlighted a focus in technology and education to be the new wave of economic gain. As part of the development process, seven companies had net-zero targets validated via a pilot of the Standard these are the only companies currently listed in the dashboard. $(document).ready(function () { The previous generation economy class seats unrefitted Airbus A380-800, and Airbus A330-300 are 19in (48cm) wide, have in-seat power and have a 10.6-inch (27cm) personal television screen which has a non-intrusive reading light under it, which can be used by folding the screen outwards. [67] Despite struggling in the manufacturing sector Singapore thrived in global finance, trading, and was an industrial hub for international trade.[68]. ", "2012 Investment Climate Statement Singapore", "Pharma giant GSK's regional HQ in Singapore", "Singapore Company Registration and Formation", "Switzerland of Asia: Singapore increases presence as tech hub", "GlaxoSmithKline Vaccine Manufacturing Facility, Tuas, Singapore", "Pharma giant Sanofi breaks ground on $638m vaccine facility in S'pore", https://www.researchgate.net/publication/341794179, "Singapore ties with New York for Highest Prime Rental Growth In 1H 2022", "Singapore, New York Tie for Highest First Half Rental Growth", "Singapore is 2nd most visited city in Asia-Pacific, 5th in the world: Mastercard", "Top Trading Partners Total Trade, Exports, Imports", "A peek at the illicit trade in smuggled vegetables in Singapore", "Speeches by Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Tun Razak at the official dinner at the Istana on 22 May 2009", "Statistics Singapore - Trade with Major Trading Partners", "Singapore, Australia conclude discussions on Comprehensive Strategic Partnership", "Singapore's Q3 jobless rate remains low, but employment growth slows - Channel NewsAsia", "Singapore CPF Contribution Rates, Eligibility, Process and other details", "Aesperon 2015 Changes To Foreign Worker Levies", "Singapore Economic Development Board Investing Business in Singapore", "Singapore in bottom 10 of Oxfam index on efforts to tackle inequality", "Singapore in bottom 10 of countries tackling inequality: Oxfam index", "Govt expenditure to increase by 3% of GDP in five years' time", Organisation for Economic Co-operation and Development, "Singapore Economy 2012 A Brief Introduction GuideMeSingapore.com", "FY 1996 Budget, Revenue And Tax Changes", "What is the relationship between GIC and the Government? [115][116] The segment represents the cargo GSA for Qatar Airways in Sri Lanka and the cargo GSA for Sri Lankan Airlines in Maldives and Myanmar, and are the managing agents for cargo GSA for Sri Lankan Airlines in Bangladesh.[117]. [citation needed] Much of the wealth accumulated early within the region was to be accredited to it hosting one of the major seaport hubs. How do you want us to tailor yours? Originally designed by Deshamanya Geoffrey Bawa, the 152 roomed 5 star resort was relaunched under the Heritance brand in June 2006 subsequent to a US$13 million refurbishment. The 1973 oil crisis raised government awareness of issues such as economic concentration. It flew 11.0% of all international traffic into and out of Australia in the month ended March 2008. Foreign firms are found in almost all sectors of the economy. [174] From the 13 estates, six estates are located on the up cluster in Kandy and Nuwara Eliya districts (estates: Dunsinane, Sheen, Fernlands, Meddecombra, New Peacock and Nayapane) and seven estates in the low cluster (Deviturai, Talgaswella, Gulugahakanda, Lelwala, Ketandola, Bentota and Elpitiya). 51 million.[11][18]. ), Electricity production by source: Additionally, Australian mining magnate Gina Rinehart owns property in Singapore[138] and American investor Jim Rogers moved to Singapore in 2007Rogers has identified the 21st century as an era in which Asia will dominate and wishes for his two daughters to learn Mandarin as a key outcome of the relocation. The EU has a long-term budget, named Multiannual Financial Framework. When the initial bidding process of Sri Lanka Port Authority (SLPA) stalled and was reactivated, Aitken Spence partnered with China Merchant Holdings International and was the sole bidder in support of the project. [22], In 1955, Clark Spence & Co. opened its own press to service its internal printing needs in Galle. Why are some ISINs missing from the data download? [62], Sur Plaza Hotel is a 4 star 95-room resort located in Sur in proximity to Green Turtle Beach at Ras-al-Hadd. Business Class was known as Raffles Class until 2006. Join Canada's Sportsbook, Sports Interaction, for thousands of betting options on all your favourite sports. Credit Suisse, the second largest Swiss bank, moved its head of international private banking to Singapore in 2005. [87], Singapore has also attracted assets formerly held in Swiss banks for several reasons, including new taxes imposed on Swiss accounts and a weakening of Swiss bank secrecy. [32] A highly lucrative route for LCCs due to its short distance and heavy traffic as the fourth-busiest in Asia,[33][34] bringing Singapore Airline's capacity share on the route down to about 46.7%, Malaysia Airlines' down to 25.3%, and increase to 17.3% to the three LCCs now permitted on the route, and the remainder shared by three other airlines as of 22 September 2008. The hotel which initially held 112 rooms was relaunched as Turyaa Kalutara after an addition of a new wing to the hotel in November 2015. [78] With the lockdown imposed on construction workers, there were concerns that there could be delays in construction projects of up to six months. slightly reduce rate of appreciation, with no change in width. Currently, financial institutions are unable to set net-zero targets. With spurs of race riots the colonial powers sought to empower and establish a formidable local government. Based on the commercial airline's segmentation, the airline industry market is divided into passenger aircraft and freight aircraft. Near-term targets are also a prerequisite for companies wishing to set net-zero targets. They are indicated by the word committed in the dashboard. In 1992, with the re-privatization of plantations industry, Aitken Spence reentered the sector in taking over the management of Udapussellawa Plantation PLC. In 2006 GSK invested another S$300million to build another plant to produce paediatric vaccines, its first such facility in Asia. [32], The current chairman of Aitken Spence is Harry Jayawardena. [167], Ace Power embarked on a landmark project in the country's waste to energy sphere. To find out more about our plans and timeline, sign up to our newsletter. The freight aircraft segment is expected to be the fastest-growing segment in the market from 2022 to 2027. In addition, Singapore is a popular international tourist destination for various types of tourism (Business tourism, MICE (Meetings, Incentives, Conferences, Exhibitions) tourism, Medical tourism, Urban tourism). Furthermore, the region's role as a manufacturing hub boosts local airlines' cargo profits, and the region's rising demand for commercial air travel aids expansion. [136][137], In 2010, Aitken Spence renewed its alliance with Ceyline Group of Companies when it invested in Colombo International Nautical and Engineering College (CINEC). The SBTi launched the Corporate Net-Zero Standard in October 2021. [122][123], Aitken Spence also offers transportation through its transport fleet of prime movers with 20'/40' trailers, lorries and tank trucks. Low plane fares, rising living standards, and a predicted recovery in the global gross domestic product are driving this trend.
Digital Music News | Your Source for Music Industry News 630 million capital gain. [75] The product was voted the world's best business class by Skytrax in 2011. Long Haul Business Class is available on Airbus A380 and refitted Boeing 777-200ER aircraft, where a fully flat bed is available in a 1-2-1 configuration featuring 30in (76cm) of seat width. These targets galvanize the action required for significant emissions reductions to be achieved by 2030. Singapore is the regional hub for wealth management. [157] In October 2013, PlantERM, the Enterprise Resource Management application developed for the first time in Sri Lanka for the plantation sector by Aitken Spence Technologies, received the NBQSA Gold Award in the General Applications category. Long-term targets are developed by companies wishing to set net-zero targets under the Corporate Net-Zero Standard. This includes the target wording: Details of the specific emissions reductions organizations must make that have been independently assessed and validated as science-based by the SBTi. The world is transitioning to a zero-carbon economy. Also propelling market growth is an increase in tourist expenditure on air travel; in 2021, tourist spending on air travel totalled $354 billion. [145][146] The outbound travel arm of Aitken Spence Travels is an IATA approved outbound travel agency and has been in operation since 1975, making it one of the oldest IATA agencies in Sri Lanka. In 2005, economic growth was 6.4%; and in 2006, 7.9%. Temperature alignment indicates the degree of global temperature increase compared to preindustrial levels targets are aligned to, in line with the goals of the Paris Agreement. As a pioneer in port operations, Aitken Spence was entrusted in coordinating the Operations of Colombo Port during the Second World War. After Lee Kuan Yew was elected, he oversaw significant economic reforms to the country. [82] There are also adjustable dividers between the centre seats that can either be fully raised, half raised or fully lowered. In the change to the current livery, the yellow rear fuselage was changed to metallic gold and the font typeface of the word "Singapore Airlines" was modified. [53], Trade volume reached $105million Straits dollars in 1879,[54] during which entrepot trade was the main source of income and trade alone accounted for more than one-third of GDP. The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing. After more than twenty years, Questia is discontinuing operations as of Monday, December 21, 2020. Aitken Spence later divested its stake in Udapussellawa and Talawakelle Plantations[173], The management of Elpitiya Plantations PLC was taken over by Aitken Spence in 1997 from Carsons through Aitken Spence Plantations Managements Ltd. [56] As of 1 April 2020, the average passenger aircraft age stands at 5 years 11 months.[57]. The other members of the Group Management Committee are Rohan Fernando, Stasshani Jayawardena, Nilanthi Sivapragasam, Rohan Pandithakorralage, Nimmi Guneratne, Susith Jayawickrama, Dinesh Mendis, Prasanna Karunathilake, Leel Wickremarachchi, Nalin Jayasundera, Iqram Cuttilan, Janaka Gunawardena, Jerome Brohier, Vasantha Kudaliyanage, Calude Jayantha Fernando and Chaminda Hidurangala[34], Aitken Spence was adjudged the winner of the Best Corporate Citizen Sustainability Award 2019, 2018, 2017 and 2012 conducted by the Ceylon Chamber of Commerce. [9], Singapore Airlines is majority-owned by the Singapore government investment and holding company Temasek Holdings, which held 55% of voting stock as at 31 March 2020. hydro: Furthermore, rising private sector participation and investments, increased business engagement leading to increased demand for non-scheduled aircraft, increased usage of construction fees by terminal builders and operators, increased exports and imports, and increased freight traffic are all factors driving market expansion. The Business Class seat is lie-flat at an eight-degree incline, featuring Krisworld on a 15.4-inch (39cm) screen. Analytics Tool. [49], In 1819, Stamford Raffles, at the time Lieutenant-Governor of Bencoolen, established a trading post in Singapore. [66], The 1990s posed a great question for Singapore, as to how they would reinvent their economy. [83][84], In April 2013, the country was recognised as an increasingly popular tax haven for the wealthy due to the low tax rate on personal income, a full tax exemption on income that is generated outside of Singapore and 69 double taxation treaties[87] that can minimise both withholding tax and capital gains tax. In 2021, global RPKs are expected to improve by 18%, bringing them to 40% of pre-crisis levels. Before this, there was no globally recognized, science-based pathway for companies wishing to achieve net-zero. [46] The project was recognized with a merit award at the Best Sustainability Projects Awards 2014. [93], Singapore has limited potential for renewable energy mainly due to its small surface area; solar power holds the greatest potential. The SBTi does not currently have any data products or services of this kind. Aitken Spence PLC (Sinhala: ; Tamil: ) is a Sri Lankan blue chip conglomerate[2] with operations in South Asia, the Middle East, Africa and the Pacific. Aitken Spence Logistics also services shipments of garments through its garments on hanger facilities and quality assurance centre facilities. Friedrich noted how " it would be "unlikely to expand beyond the current 25% share of the economy," when regarding manufacturing firms. By continuing to use our site you accept our use of cookies. This policy is came into effect on March 7th 2022 and removal of previous commitments will be completed as soon as possible. In the 2020 Global Financial Centers Index, Singapore was ranked as having the sixth most competitive financial center in the world, and fourth most competitive in Asia. The regional Economy Class cabin on Singapore Airlines' Boeing 787-10 Dreamliner. To preserve its international standing and to further its economic prosperity in the 21st century, Singapore has taken measures to promote innovation, to encourage entrepreneurship and to retrain its workforce. 6. In addition, throughout its history, Singapore has benefited from the large inward flows of FDI from global investors, financial institutions and multinational corporations (MNCs) due to its highly attractive investment climate along with a stable and conducive political environment throughout its modern years. 95.3% MICE (Meetings, Incentives, Conferences, Exhibitions) tourism, Agreement between New Zealand and Singapore on a Closer Economic Partnership, Agreement between the EFTA States and Singapore, JapanSingapore Economic Partnership Agreement, United States-Singapore Free Trade Agreement, Trans-Pacific Strategic Economic Partnership Agreement, India Singapore Comprehensive Economic Cooperation Agreement, Ministry of Social and Family Development, Singapore Workplace Safety and Health Conference, "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2020", "Singapore economy tipped to grow 5.5% next year; vaccines could push growth higher", "Employment to population ratio, 15+, total (%) (national estimate) Singapore", "Net international investment position as at Q1 2015", "Operating Revenue and Total Expenditure as at 2017 estimate", "How Fitch, Moody's and S&P rate each country's credit rating", "What is the Singapore model of economic development? Statistics on income inequality are published by the Singapore Department of Statistics. A footnote in Microsoft's submission to the UK's Competition and Markets Authority (CMA) has let slip the reason behind Call of Duty's absence from the Xbox Game Pass library: Sony and [99], Singapore's total trade in 2014 amounted to S$982 billion. These fully and partially state-owned enterprises operate on a commercial basis and are granted no competitive advantage over privately owned enterprises. The pair of centre seats directly behind each bulkhead, when the centre divider is fully lowered, can form double beds. Singapore, officially the Republic of Singapore, is a sovereign country as well as a city-state.It is an island state at the southern end of the Malay Peninsula in Asia, between the Straits of Malacca and the South China Sea.Singapore is about one degree of latitude (137 kilometres or 85 miles) north of the equator.About 5.70 million people live in Singapore. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. [80], Aitken Spence has previously announced its interest to develop its properties in Ahungalla and Nilaveli as resort properties. [184], The production of printed packaging materials represents about 80 percent of business for the printing segment. However, much unlike the economic policies of Greece and the rest of Europe, Singapore followed a policy of individualising the social safety net. More than 3,000 businesses and financial institutions are working with the Science Based Targets initiative (SBTi) to reduce their emissions in line with climate science. Singapore Airlines (abbreviation: SIA) is the flag carrier airline of Singapore with its hub located at Singapore Changi Airport.The airline is notable for highlighting the Singapore Girl as its central figure in corporate branding segment. [98][99] The new KrisWorld is available on Airbus A330, Airbus A380 and Boeing 777-300ER. [20][21][22][23] Singapore's economy has been previously ranked as the most open in the world,[24] the joint 4th-least corrupt,[25] and the most pro-business. [11][24] In 1996, Aitken Spence entered Bangladesh through Aitken Spence Cargo with its shipping services. Major upgrades to its cabin and in-flight service were announced on 17 October 2006,[59] constituting the first major overhaul in over eight years and costing the airline approximately S$570million. [90] In 2022, the biopharma industry of Singapore accounted for manufacturing output of USD 18 billion a year, a value that had tripled during two decades. Find out more their targets and commitments. As of July 15th 2022 ,the SBTi will only accept target submissions of scope 1 and 2 targets that are in line with a 1.5C trajectory. Aitken Spence Cargo, specialized freight-forwarding arm of Aitken Spence, provides air freight, sea freight, brokerage, customs facilitation and supply chain solutions to clients in Sri Lanka, Bangladesh and Maldives.[113]. [117] The government responded to the report by claiming that it was more important to look at "real outcomes" such as Singapore's high home ownership, health, education, and employment, rather than public spending or tax rates, also saying that the report "assumes that high taxation and high public expenditure reflects commitment to combating inequality". Copyright 2019 Global Market Estimates, Inc. All rights reserved. [55] In July 2011, the Group rebranded the hotel as Heritance Ayurveda Maha Gedara after a major renovation wherein the hotel was converted to an Ayurveda wellness resort. [147] In financial year 2017/2018, Aitken Spence Travels handled over 178,000 tourists to Sri Lanka. [61][62], On 9 July 2013, Singapore Airlines, in collaboration with two design firms, James Park Associates and DesignworksUSA, unveiled the next generation of cabin products for First, Business, and Economy class, which entered service onboard new Boeing 777-300ERs and Airbus A350s. This work will be finalized by the end of 2022. [6] Singapore Airlines was voted as the Skytrax World's Best Airline Cabin Crew 2019. [128][129] In 2010, the bid was approved by SLPA and construction began on the US$450 million project. [57] FDI inflows increased greatly over the following decades, and by 2001 foreign companies accounted for 75% of manufactured output and 85% of manufactured exports. [144], The Group also provides human resources consulting in Sri Lanka and overseas under brand "Genuity". We are exploring solutions to of provide more complete ISIN data. [11] Aitken Spence is also the largest foreign resort operator in the Maldives[97] and is among the five largest resort operators in the country. 80% of Fortune 2000 use GME for their growth strategies. [182], In October 2014, Aitken Spence invested in Eco Corp Asia, a company holding the exclusive rights in Sri Lanka to market nanotechnology based liquid glass coating product of Nanopool GmbH. Were developing a plan for ongoing improvements to the dashboard and data set, which we will be rolling out in 2022. Questia. [citation needed] The country has the largest proficiency of English language speakers in Asia, making it an attractive place for multinational corporations.
[111] In 2012, the Ministry of Trade and Industry (MTI) reported that Singapore should continue to fine-tune the calibration of its inflow of foreigners as the country continues to face an ageing population and a shrinking workforce. Driven by Growth: Political Change in the Asia-Pacific Region edited by James W. Morley. [126][127], In 2007, Aitken Spence in partnership with Port of Singapore Authority submitted a joint bid to build and operate the South Container Terminal of the Colombo Port Expansion Project. There was no change in foreign exchange policy from the March decision. [75][76] In response to the economic pressure, Moody's temporarily downgraded the Singapore banking sector that year from "stable" outlook to a "negative" outlook. [23] The Group also maintained container vessel operations, with acquisition of five ships in a joint venture with Ceyline Group in 2003, which it later divested in 2008. Aitken Spence handles cargo sales agencies for Singapore Airlines Cargo, Air Jamaica, My Travels, Qatar Airways Cargo and EVA Air in Sri Lanka. In the end the economy grew in 2009 by 3.1% and in 2010, the nation saw a 15.2% growth rate.[69][70]. [citation needed] During the SARS outbreak in 200304, Singapore Airlines ceased flights to Brussels, Las Vegas, Chicago, Hiroshima, Kaohsiung, Mauritius, Vienna, Madrid, Shenzhen and Surabaya. Singapore Airlines has taken advantage of liberal bilateral aviation agreements between Singapore and Thailand, and with the United Arab Emirates, to offer more onward connections from Bangkok and Dubai, respectively. [69] The hotel was awarded the Asia Pacific Heritage Merit Award in 2001 by UNESCO for preserving the tea factory and its colonial heritage. [19][20] However, the Group's marine insurance segment (including its Lloyd Agency) continued to operate as it did not fall within the purview of nationalization. [42] Following interruptions due to the global COVID-19 pandemic, Singapore Airlines in 2022 relaunched non-stop service to the New York metropolitan area, to both New York JFK and Newark Airport, constituting the world's two longest flights at this time.
Singapore It is also the agent for Flexi Tank Services in Sri Lanka for Trans Ocean Distribution. here. [42][43], Aitken Spence is also one of the first companies in Sri Lanka to pledge its support to the Caring for Climate initiative, which is a joint effort by UNEP, UNFCCC and UNGC to promote positive climate action in business. Watch breaking news videos, viral videos and original video clips on CNN.com. Key developments in Ukraine's Kherson region since invasion, Alliance Bank raises standardised bank rate, China-Laos Railway hailed for quality service during That Luang Festival, Moscow denies reports that North Korea is supplying weapons to Russia, Bina Puri JV secures RM183mil construction job for Supreme Court building in Nepal, Focus on successful strategies in Covid fight, Copyright 1995- [88], Singapore has been aggressively developing its biotechnology industry. [133] The taxable GST was increased to 4% in 2003, to 5% in 2004, and to 7% in 2007. ", "Assessing economic growth in the Asian NICs", "Corruption Perceptions Index 2018 Executive Summary p. 8", "Singapore: The Evolution of an Entrept", "Singapore: Its Growth as an Entrepot Port, 1819-1941*", "Singapore remains the world's busiest transshipment port - Maritime Gateway", "Wealth management prospers in Singapore", "Singapore tops 2019 Global Food Security Index", "Rapid Growth in Singapore's Immigrant Population Brings Policy Challenges", "3 in 4 PMET jobs in growth sectors filled by Singaporeans, PRs", "Professionalise all jobs, do away with PMET classification: MAS chief | The Straits Times", "2014 Scientific American Worldview Overall Scores: WorldVIEW", "The Big Read in short: S'pore families' dependence on maids and the issues that need addressing", https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=576,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,LUR,GGXWDG_NGDP,&sy=1980&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1, "Stamford Raffles's career and contributions to Singapore | Infopedia", "Opening of the Suez Canal Singapore History", "The familiar pattern of Chinese consumption growth", "Wage share of GDP has risen over the decades: Minister for Trade and Industry", "ECONOMIC HISTORY OF SINGAPORE | Facts and Details", "Quality of infrastructure: countries with best infrastructure 2019", "Commanding Heights: Singapore Economic | on PBS", "Brief History of Singapore, Singapore Growth & Economy About Singapore", "How Singapore Became One Of The Richest Places On Earth", "Trade policies for a small open economy: The case of Singapore", "Factories slash output, jobs around world", "Singapore to see sharpest slowdown in South-east Asia this year with 1.9% GDP growth: Report", "Singapore expects its economy to shrink in 2020 due to the coronavirus pandemic", "S'pore heads for deeper recession: 2020 growth forecast cut to between 7 and 4% on Covid-19 impact", "Citi: Singapore economy set to shrink by 8.5% this year", "Quick takes: Despite Singapore's Q2 entry into recession, MAS may keep policy unchanged", "Moody's cuts outlook for Singapore banks on COVID-19 fallout", "Singapore Partial Lockdown to Cost Economy S$10 Billion", "COVID-19: Construction projects could be delayed months, as contractors fear manpower crunch when clearing backlog", "About 3,800 companies closed down in April; expect uptick in coming months: Chee Hong Tat", "What comprises the reserves and who manages them?