Singapore – NATURALDEPOSIT

Singapore’s October Inflation Surges to 3.3%, Exceeding Projections

Singapore’s Ministry of Trade and Industry disclosed a substantial uptick in the Core Consumer Price Index (Core CPI) for October, climbing to 3.3% year-on-year, a figure higher than anticipated. The Core CPI, excluding housing and transportation costs and a key gauge of inflation closely monitored by the Monetary Authority of Singapore, surged beyond September’s 3% …

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Singapore Surpasses Expectations: 3rd Quarter GDP Expands by 1.4%

News

Singapore’s Ministry of Trade and Industry announced today that the Gross Domestic Product (GDP) for the third quarter of 2023 surged by 1.4% on a quarterly basis, surpassing initial estimations of 1% growth and outstripping analysts’ predictions of a 1.1% upturn. These figures affirm the resilience of the Singaporean economy as it continues its path …

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Singapore Set to Introduce Pilot Program for Digital Currency in Interbank Transactions

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Singapore’s Monetary Authority, under the guidance of Rawi Menon, the managing director, announced plans to pilot the use and issuance of a digital currency specifically for interbank money transfers, termed Wholesale Central Bank Digital Currency (CBDC), slated for implementation in 2024. Wholesale CBDC, a digital currency issued by a central bank, serves as a specialized …

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Singapore Records Hottest October Ever with Temperatures Hitting 36.3°C

News

Singapore has recently set an unprecedented record as the city experienced its hottest October to date, with temperatures soaring to 36.3 degrees Celsius. The Singapore Meteorological Department (MSS) confirmed that October 9 witnessed the highest temperature reading, underscoring the exceptional warmth of the month. Throughout the course of October 2023, the Lion City witnessed an …

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Singapore Reports Q3 GDP Growth of 0.7% Amid Uncertain Global Economic Outlook

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The Monetary Authority of Singapore (MAS) has unveiled its final estimate for the third quarter of 2023, reporting a 0.7% expansion in gross domestic product (GDP). This growth comes after a 0.1% expansion in the second quarter, allowing Singapore’s economy to narrowly avoid recession. However, amidst the uncertain global economic climate, near-term economic trends remain …

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Singapore’s September Inflation Slows to 3%, Marking 18-Month Low

News

The Ministry of Trade and Industry in Singapore has released its latest inflation data, revealing that the Core Consumer Price Index (core CPI), a key measure of inflation excluding housing and transportation costs, slowed to 3% in September. This marks the lowest level in 18 months, falling below analysts’ expectations of 3.1%. In contrast, the …

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Singapore’s Exports Continue to Decline: 12th Consecutive Month of Slowing Demand

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Singapore’s trade promotion agency, Enterprise Singapore, has reported a concerning decline in the nation’s non-oil exports (NODX) for the 12th consecutive month. The data, released on October 17, indicates a 13.2% drop in September when compared to the previous year. Singapore, a country heavily reliant on international trade, grapples with a persistent slowdown, largely attributed …

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Thai and Singaporean Leaders Explore Enhanced Cooperation in Digital Economy, Energy, and Food Sectors

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Prime Minister and Minister of Finance, Mr. Settha Thavisin, embarked on a diplomatic visit to the Republic of Singapore, where he paid a courtesy call on President Tharman Shanmugaratnam and engaged in bilateral discussions with Prime Minister Lee Hsien Loong. During their meetings, the leaders of Thailand and Singapore discussed the reinforcement of collaboration across …

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Singapore Grants Full Approval to Ripple for Operations in the Country

News

Ripple, a prominent U.S.-based blockchain and cryptocurrency trading company, announced today that it has secured a significant payment institution license in Singapore, marking a significant stride in its expansion within the Asia Pacific region. This achievement comes merely four months after the Monetary Authority of Singapore (MAS) granted preliminary in-principle approval to Ripple in June. …

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Singapore’s Industrial Output Plummets by 12.1% in August, Exceeding Market Expectations

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Singapore’s Economic Development Board (EDB) has reported a stark decline in industrial output for August, revealing a year-on-year drop of 12.1%. This marks the 11th consecutive month of contraction and surpasses market projections, with the primary contributor being a notable decrease in electronic product manufacturing. Economists had initially forecasted a more modest 3.1% year-on-year decline …

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