Singapore economy grew 0.7 percent in 2019

SINGAPORE, Feb 17 (NNN-BERNAMA) — Singapore’s economy grew by 0.7 per cent in 2019, slower  than the 3.4 per cent growth recorded in 2018, according to the republic’s Ministry of Trade and Industry (MTI).

For 2020, MTI said, it has downgraded the Gross Domestic Product (GDP) growth forecast to -0.5 to 1.5 per cent, with growth expected to come in at around 0.5 per cent, the mid-point of the forecast range. 

Singapore: S$77 million package to help taxi, private-hire drivers affected by COVID-19 outbreak

SINGAPORE, Feb 14 (NNN-CNA) — A S$77 million Point-to-Point Support Package to help taxi and private-hire car drivers affected by the COVID-19 outbreak was announced by the Singapore government.

The Government will contribute S$45 million towards the package, with the remaining provided by taxi and private-hire car operators. 

Oil prices stabilize, set for weekly gain on hopes for supply cut

SINGAPORE (Reuters) - Oil prices edged higher Friday, on track for their first weekly gain in six weeks, backed by expectations that major producers will implement deeper output cuts to offset slowing demand in China caused by the coronavirus epidemic.

Brent crude futures LCOc1 were up 13 cents at $56.47 a barrel by 0731 GMT, after gaining 1% the previous session. Brent is 3.7% higher for the week, the first increase since the week of Jan. 3.

Singapore tourism to take ‘significant hit’ in 2020 due to coronavirus, up to 30% fewer visitors expected

SINGAPORE, Feb 11 (NNN-CNA) — The tourism sector will take a “significant hit”, with visitor arrivals estimated to fall by 25 per cent to 30 per cent this year due to the novel coronavirus outbreak, said the Singapore Tourism Board (STB). 

The coronavirus outbreak has significantly impacted visitor arrivals, especially from China, which accounts for about 20 per cent of international visitor arrivals here, said STB in a media release. 

Oil prices edge down as traders assess China's oil demand, await OPEC+ cuts

SINGAPORE (Reuters) - Oil prices edged down on Monday but held recent ranges as traders assessed China’s oil demand following the coronavirus outbreak and awaited a decision by major producers to cut output further to balance markets.

Oil is off more than 20% from peaks struck in January after a spreading virus hit demand in the world’s largest oil importer and fueled concerns of excess supplies.

Brent crude LCOc1 slipped to $53.63 a barrel in early Asian trade, the lowest since January 2019, before recovering to $54.37 by 0517 GMT, down 10 cents.

Britain 'reasonably confident' of U.S. trade deal despite Huawei concerns

SINGAPORE (Reuters) - Britain takes U.S. concerns about its use of Huawei equipment seriously but is confident a trade deal with the United States will be among its first after leaving the European Union, its foreign secretary said on Monday.

U.S. officials have hinted future trade talks could be affected by Britain’s decision last month to grant Huawei a limited role in its 5G mobile network, frustrating a global bid by the United States to exclude the firm from the West’s next-generation communications systems.

Singapore confirms fifth imported case of Wuhan coronavirus in the city

SINGAPORE, Jan 28 (NNN-BERNAMA) — Singapore’s Health Ministry today confirmed the fifth case of imported Wuhan coronavirus in the city today.

In a statement issued today, the ministry said the latest case involved a 56-year old Chinese citizen, who had arrived here from Wuhan together with her family on January 18.

She is currently being treated in isolation at the National Centre for Infectious Diseases (NCID) and her condition is reported to be stable.

Based on a report, the ministry said the woman had not displayed any symptoms during her flight to Singapore.

Singapore confirms first case of Wuhan virus

SINGAPORE, Jan 24 (NNN-CNA) — Singapore on Thursday announced a confirmed case of the Wuhan virus, a new coronavirus that has sickened hundreds of people and killed at least 25. 

In a media briefing, the Ministry of Health said the patient is a 66-year-old Chinese man. The Wuhan resident, who arrived in Singapore with his family on Jan 20, flew from Guangzhou via China Southern flight CZ351. 

Flight operations resume at Changi Airport after a short disruption

SINGAPORE, Jan 23 (NNN-BERNAMA) — Flight operations at Singapore’s  Changi Airport were disrupted at 12.10 am Thursday due to evacuation at the Changi Control Tower.

According to  the Civil Aviation Authority of Singapore (CAAS), the Tower had to be evacuated as the fire suppression system was activated.

CAAS said flight operations were restored at 1.40 am when Changi Control Tower resumed operations.

Oil prices slide as supply concerns fade

SINGAPORE (Reuters) - Oil prices fell nearly 1% on Tuesday as investors expected Libya’s oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade.

Brent crude LCOc1 was down 56 cents, or nearly 0.9%, at $64.64 per barrel by 0748 GMT, after rising to its highest in more than a week on Monday. U.S. West Texas Intermediate crude CLc1 was down 35 cents, or 0.6%, at $58.19 a barrel.

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