News

Singaporeans display generosity as NVPC donation total revealed

SG Gives is a Singapore based non-profit organisation which is run by the National Volunteer and Philanthropy Centre (NVPC) collected a sum of more than SGD $13 million in donations over the course of 2014, stated a press release last week by the company last week.


Ministry of Manpower: Singapore has sustained growth in employment sector

The unemployment rate in Singapore was considered to be low in comparison to December, despite the business restructuring which caused a slight increase in layoffs in the fourth quarter of 2014, said the Ministry of Manpower (MOM).


ACRA’s new guide will benefit start-ups in Singapore

The guide by Singapore's national regulator of business entities, Accounting and Corporate Regulatory Authority (ACRA) announced details on how and when local companies are required to file their annual returns.


Interest rate effect may threaten property prices in Singapore

A sudden New Year jump in Singapore interest rates threatens to push up mortgage costs and steepen the on-going growth in house prices. The three-month Singapore interbank offered rate, against which most home loans are benchmarked, has risen 18 basis points this year to the highest since April 2010, primarily caused by a strong US dollar and new liquidity requirements for Singapore banks.


Mixed reviews for Singapore business prospects

According to the Singapore Commercial Credit Bureau (SCCB), Singapore's Business Optimism Index (BOI) score fell to the second-lowest in two years. It has been reported that the two main reasons for this are concerns over global political headwinds and less regional demand in the external-oriented sector.


Singapore to introduce debt restructuring programme

Singapore Credit Counselling wants to work with the Moneylenders Association to have a debt restructuring programme in place by next year, which will be beneficial to those facing multiple debts.


Half of SMEs in Singapore see the need to restructure

In the 2014 SME Development Survey 51% of enterprises state that their main strategy is to rethink their business model, taking into account the current operating environment.


China commences direct trading between renminbi and Singapore dollar

Last week China’s Foreign Exchange Trading System (CFETS) announced direct trading between the renminbi and Singapore dollar, marking another step toward internationalising the Chinese currency. The move is also expected to help Singapore become a renminbi offshore centre.


India and UK launch financial partnership

The Economic Secretary of the Treasury has welcomed the launch of a new Financial Partnership between UK and India, which will extend financial co-operation between London and Mumbai.