Posts in tag

Trade


Months of COVID-19 restrictions have placed a huge strain on Singapore’s economy, shrinking by 41.2% quarter-on-quarter drop. With two consecutive contractions,  Singapore has entered a technical recession. Among the most heavily affected in Singapore is the manufacturing sector. In May 2020, the sector’s output diminished by 7.4% year-on-year. This contraction, according to the Ministry of …

These countries rely the most on trade, according to the data from the World Bank. The World Bank defines trade as the sum of exports and imports of goods and services in a country. In order to measure trade, this sum is viewed as a share of the gross domestic product (GDP). Trade is a …

Z/Yen Partners in collaboration with the China Development Institute (CDI) released the 2020 edition of the Global Financial Centers Index (GFCI). Now at its 27th edition, GFCI  continues to provide evaluations of the competitiveness of the major financial centres of the world. Highlights New York maintains the top position in the GFCI 27. Scoring an …

Based on advance estimates, the Singapore economy contracted by 2.2 per cent on a year-on-year basis in the first quarter of 2020, reversing the 1.0 per cent growth in the preceding quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy shrank by 10.6 per cent, a sharp pullback from the 0.6 per cent growth in …

To drive greater efficiencies in trade, DBS Bank has closed another ‘industry-first’ with the completion of the first trade financing settlement through vCargo Cloud’s CamelONE Trade Finance portal (TFP) – with another two transactions slated to close this week. The inaugural transaction relates to an SGD 4.8 million letter of credit transaction by homegrown steel …

The EU-Singapore Free Trade Agreement (EUSFTA) will enter into force on 21 November 2019. Following the Council of the European Union (EU)’s approval on 8 November 2019, the EU and Singapore expeditiously completed their remaining processes to bring the agreement into effect. Minister for Communications and Information and Minister-in-charge of Trade Relations S Iswaran said, …

The Ministry of Trade and Industry (MTI) announced today that the Singapore economy is expected to grow by “0.5 to 1.0 per cent” in 2019 and by “0.5 to 2.5 per cent” in 2020. Economic Performance in Third Quarter 2019 The Singapore economy grew by 0.5 per cent on a year-on-year basis in the third …

To leverage Singapore’s global trade connectivity[1], DBS Bank and Trafigura, in collaboration with Infocomm Media Development Authority (IMDA), the International Chamber of Commerce (ICC), Enterprise Singapore and tradetech Perlin, have come together to develop an open-sourced blockchain trade platform (ICC TradeFlow platform) to connect trade partners across borders and streamline manual paper-based trade processes to …

The Monetary Authority of Singapore (MAS) today announced that new initiatives were underway to strengthen capital market activities between Singapore and China. These measures will facilitate the growing interest of financial institutions based in Singapore and China to expand in each other’s markets. The initiatives were discussed at the 15th Joint Council for Bilateral Cooperation …

An estimated 90% of world trade is facilitated by maritime shipping, and as trade volumes continue to increase, the world’s busiest ports continue to grow larger and more efficient to meet demand. In fact, in just the last four years, the median annual volume of the top 50 ports jumped from 5.49 to 5.86 million …