2024-01-24
The Singapore Management University (SMU) on Jan 17 launched a new Urban Institute that will carry out research on Asian cities, to address challenges such as climate change and ageing infrastructure. The institute will bring together experts from different backgrounds to conduct research on urban cities in Singapore and South-east Asia. SMU chairman Piyush Gupta noted that cities are facing unprecedented challenges, from demographic shifts due to migration to the rising demand for access to education and jobs. The new institute will create a hub for urban planners, designers, economists, social scientists, and policymakers to work together to explore solutions, […]
2024-01-22
On January 16, 2024, Singapore has proposed a new governance framework for generative artificial intelligence, and is seeking international feedback on it. The new Model AI Governance Framework for Generative AI builds on an existing framework from 2019 that covers only traditional AI, and comes at a time when the generative AI scene is still developing. The framework, developed by the AI Verify Foundation and Infocomm Media Development Authority (IMDA), is part of Singapore’s contribution to the global conversation in this space, Minister for Communications and Information Josephine Teo said on Jan 16 (Tuesday). AI Verify is a toolkit meant […]
2024-01-16
On January 10, 2024, Amid rising demand for air travel in the Asia-Pacific region, an aviation innovation centre has been set up in Singapore to address airspace and manpower constraints through the use of technology. The centre was incorporated in August 2023 by CAAS as a company limited by guarantee. It will focus on the Asia-Pacific region, as air travel demand here is expected to grow robustly over the next few decades, the authority said. The centre will undertake research and development projects in four key areas: next-generation air navigation services, automated and smart airports, unmanned aviation systems and sustainable […]
2024-01-10
On January 8, 2024, Some 19,600 Build-To-Order (BTO) flats will be launched in 2024, including 2,800 flats with shorter waits of below three years. These will be launched across three sales exercises in February, June and October, down from four launches a year, National Development Minister Desmond Lee said in an interview with The Straits Times and Chinese daily Lianhe Zaobao on Dec 28. The new classification of flats into Prime, Plus or Standard categories will take effect from the October launch, which will also be the largest in 2024, he added. FOZL Group provides one-stop corporate services to local and overseas companies, […]
2024-01-08
On January 5, 2024, Retail sales rose 2.5 per cent in November 2023, compared to a 0.1 per cent decline in October, with the highest growth rates seen for food and alcohol, and motor vehicles, as well as watches and jewellery. On a month-on-month seasonally adjusted basis, retail sales grew 0.5 per cent, against the previous month’s 0.9 per cent fall, according to figures released by the Singapore Department of Statistics (SingStat). Excluding motor vehicles, seasonally adjusted retail sales remained at a similar level as October 2023. FOZL Group provides one-stop corporate services to local and overseas companies, currently serving over 1,000 companies […]
2024-01-03
SINGAPORE – To grow Singapore’s pool of chartered accountants quicker, the industry body for accountancy in Singapore has set aside $15 million over three years to support those studying for professional qualification in the field. The Institute of Singapore Chartered Accountants (Isca) plans to do so through several changes to the Singapore Chartered Accountant Qualification (SCAQ) programme, the only qualification pathway here for chartered accountants. Among the changes to help more aspirants join the programme and learn better are tie-ups with local universities to sponsor tuition for SCAQ candidates, a new dedicated study and learning space at 60 Cecil Street dubbed SCAQ […]
2024-01-01
On December 26, 2023, Singapore’s port has reached an all-time high in arriving ship traffic, recording 3 billion annual gross tons in vessel arrivals so far in 2023. Annual vessel arrival tonnage – or the internal volume of all ships that arrive in a year, including their engine room and non-cargo spaces – is a common maritime industry measure of vessel traffic calling at a port. Singapore’s port reached 1 billion gross tons in 2004 and 2 billion gross tons in 2011. Between January and November, Singapore’s port handled 35.6 million TEUs of containers, according to the MPA website. It […]
2023-12-28
On December 26, 2023, Total manufacturing production rose 1 per cent year on year, slowing sharply from October’s revised 7.6 per cent growth and missing the 2.2 per cent increase expected by analysts in a Bloomberg poll. While most sectors decelerated from the previous month, chemicals was a bright spot. It improved to finish the month up 2.7 per cent year on year. This was aided by two of its segments – speciality and other chemicals. FOZL Group provides one-stop corporate services to local and overseas companies, currently serving over 1,000 companies in Singapore. FOZL assist clients to register Singapore companies, and provide Accounting, […]
2023-12-26
On December 21, 2023, Foodtech start-up Life3 Biotech aims to open an eco-friendly production facility in Paya Lebar by the second quarter of 2024. The 25,000 sq ft plant will utilise the company’s proprietary technology to produce up to six tonnes of vegetables and 1,400 tonnes of edible plant protein a year. The technology underpins what the firm calls the Hydroponics Integrating MicroAlgae and Solar Energy System (Himass), a process that incorporates artificial intelligence, solar panels and water upcycling technologies to produce its food items within a self-sustaining ecosystem. Life3 Biotech employs 10 people, but this will grow to about […]
2023-12-20
On December 18, 2023, Non-oil domestic exports (Nodx) in November rose 1 per cent from a low base a year ago, snapping 13 straight months of decline, data from Enterprise Singapore (EnterpriseSG) showed on Dec 18 (Monday). The turnaround came after a revised 3.5 per cent fall in October. The November reading was slightly short of Bloomberg’s consensus forecast for 1.5 per cent growth. Economists said that while the upturn in November’s Nodx numbers was encouraging, any further recovery will be tentative and gradual as elevated interest rates continue to weigh on major global economies and China remains in the […]
2023-12-19
Launching the report on Dec 15 at Singapore Polytechnic, Senior Parliamentary Secretary for Sustainability and the Environment Baey Yam Keng said it publicly tracks the progress in the use of electricity and water, as well as emissions that would chart towards net-zero ambitions around 2045 – five years ahead of the national target. These are some of the moves the public sector is employing to improve environmental sustainability, according to the inaugural GreenGov.SG report, which detailed carbon emissions, as well as water and electricity usage by the public sector and its assets, such as office buildings, healthcare facilities, schools, public […]
2023-12-14
On December 7, 2023, A new visa-free arrangement is also expected to kick in from early 2024, allowing Singaporeans and Chinese nationals to visit the other country for up to 30 days with no need for a visa. Both announcements at the 19th Joint Council for Bilateral Cooperation (JCBC), along with more than 20 memorandums of understanding (MOUs) and agreements inked, put flesh on the relationship that was upgraded in April, heralding what both sides said is a new era of cooperation. DPM Wong and Mr Ding agreed that Singapore-China cooperation had been “comprehensive and progressive, evolving over the years”, Singapore’s Prime […]
2023-12-11
On December 3, 2023, the Singapore-Asia Taxonomy was launched by the Monetary Authority of Singapore (MAS) at the ongoing United Nations COP28 climate conference in Dubai. This will reduce the risk of green or transition washing by banks and financial institutions, and ensure that transition activities will meet the green criteria over time. Senior Minister Teo Chee Hean, who was also at the launch, said the Government will be prepared to provide catalytic capital as part of a US$5 billion (S$6.7 billion) blended finance platform to channel much-needed funding towards greening the region. FOZL Group provides one-stop corporate services to local […]