Singapore secured about S$13 billion in investment commitments in first 4 months of 2020

SINGAPORE, June 1 (NNN-CNA) — Despite the COVID-19 outbreak, the Economic Development Board (EDB) has in the first four months of this year secured about S$13 billion in investment commitments for the “next few years”, Trade and Industry Minister Chan Chun Sing said. 

This “very good performance” means Singapore has exceeded the S$8 billion to S$10 billion which had been projected for the whole of 2020. 

Singapore warns of worst economic contraction since independence

26 May 2020; AFP: Singapore's embattled economy could shrink by as much as seven percent this year, which would be the worst reading since independence, with the government saying Tuesday the coronavirus pandemic had throttled the key export sector.

The city-state is seen as a bellwether of the global economy and the historic contraction highlights the extreme pain being wrought on countries by the killer disease.

Singapore Reports Over 30,000 COVID-19 Cases

SINGAPORE, May 23 (NNN-CNA) – Singapore’s Ministry of Health (MOH), reported 614 new COVID-19 cases as on Friday noon, bringing the total confirmed cases in the country to 30,426.

Of the newly confirmed cases, four were cases in the community, and 610 were work permit holders residing in dormitories. There were no imported cases.

Of the new cases, 99 percent were linked to known clusters, while the rest are pending contact tracing, the ministry said.

Singapore to allow travellers to transit via Changi Airport from June 2

SINGAPORE, May 21 (NNN-BERNAMA) — Singapore will gradually allow travellers to transit through the Changi Airport with effect from June 2, 2020, according to the Civil Aviation Authority of Singapore (CAAS).

“This is part of Singapore’s strategy to gradually re-open air transport to meet the needs of our economy and our people, whilst ensuring sufficient safeguards for safe travel,” it said in a statement here Wednesday.

The statement said the airlines should submit their proposals for transfer lanes through the Changi Airport to CAAS.

Man sentenced to death in Singapore via Zoom call

SINGAPORE (Reuters) - A man has been sentenced to death in Singapore via a Zoom video-call for his role in a drug deal, the city-state’s first case where capital punishment has been delivered remotely.

Punithan Genasan, a 37-year-old Malaysian, received the sentence for his role in a 2011 heroin transaction on Friday, court documents showed, with the country under lockdown to try and curb one of the highest coronavirus rates in Asia.

SINGAPORE: Oil prices hit one-month highs on output cuts, demand signs

SINGAPORE (Reuters) - Oil prices climbed by more than $1 a barrel on Monday, supported by output cuts and signs of gradual demand recovery amid easing coronavirus curbs, with U.S. oil showing no signs of last month’s contract expiry price rout.

Brent crude LCOc1 was up $1.06, or 3.3%, at $33.56 a barrel by 0452 GMT, after touching its highest since April 13. U.S. West Texas Intermediate crude CLc1 was up $1.29, or 4.4%, at $30.72 a barrel, after rising to its highest since March 16.

New COVID-19 test kit developed in Singapore detects past infection within an hour

SINGAPORE, May 15 (NNN-CNA) — A new COVID-19 test that can rapidly assess if a person has been previously infected with the coronavirus is now available to hospitals in Singapore.

Launched on Friday, the cPass serology test detects antibodies – formed by the body to fight off infections – in the blood or serum of patients.

SINGAPORE: Oil prices extend gains on demand hopes as lockdowns ease

SINGAPORE/MELBOURNE (Reuters) - Oil prices jumped again on Tuesday on hopes for a recovery in vehicle traffic and fuel demand, as some U.S. states and countries in Europe and Asia start to ease coronavirus lockdown measures.

West Texas Intermediate (WTI) crude CLc1 futures surged 9.9%, or $2.01, to $22.40 per barrel as of 0705 GMT. The U.S. benchmark has now risen for five sessions in a row.

Brent crude LCOc1 futures were up 6.9%, or $1.87, at $29.07, rising for a sixth straight day.

Oil prices slide on demand concerns, U.S.-China trade tension

SINGAPORE/MELBOURNE (Reuters) - Oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.

U.S. West Texas Intermediate (WTI) crude CLc1 futures fell as low as $18.10 a barrel earlier in the session and were down $1.14, or 5.8%, at $18.64 at 0506 GMT. The benchmark contract rose 17% last week.

Indonesia's Tokopedia probes alleged data leak of 91 million users

SINGAPORE (Reuters) - Tokopedia, Indonesia’s largest e-commerce platform, said it was investigating an attempted hack and claims that the details of millions of its users had been leaked online.

“We found that there had been an attempt to steal data from Tokopedia users,” a spokesman for the company said in a statement late Saturday.

“However, Tokopedia ensures that crucial information such as passwords remains successfully protected behind encryption.”

Subscribe to Singapore