Singapore (VNA) – The Singaporean economy expanded 2.1 percent in 2015 – the slowest pace since 2008, according to the country’s Ministry of Industry and Trade (MIT).
Economists said the economy showed signs of contraction due to the impacts of the global economic recession.
Non-oil domestic exports (NODX) in Singapore fell 3.3 percent in November 2015 while trade tapered off 5.7 percent.
Production, which accounts for one-fifth of the economy, also slid 6 percent in the fourth quarter. The sector saw a drop of 4.8 percent in 2015, spurred by the decline of key exports such as semiconductor devices and mechanical products.
The country’s oil exploitation was also affected by a sharp fall in global crude oil prices.
Highlights of Singapore’s economy in 2015 were seen in construction and service sectors with a rise of 7 percent and 6.5 percent in the fourth quarter, compared with the same period of 2014, respectively.
UK Capital Economics, which provides leading independent macroeconomic research, analyses and forecasts, voiced doubts about the Southeast Asian country’s ability to maintain growth in construction amid tightened monetary policies from the Federal Reserve. It said that high lending interest rates will weaken the property market, which creates difficulties for the construction sector.
𝓡 In his New Year message, Singaporean Prime Minister Lee Hsien Loong gave warnings of the contracted economy in 2016. The MIT targeted a GDP growth of between 1 and 3 percent for the year.-VNA
The Monetary Authority of Singapore (MAS) has announced the issue of 4 billion SGD (2.85 billion USD) worth of savings bonds in 2016 on a monthly basis.
The Singaporean government has been working hard to draw up policies and introduce measures to help its businesses to tap opportunities offered by AEC, expected to be formed on December 31.
Singaporeans are looking forward to the formation of the ASEAN Community on December 31, expecting it will lead to more jobs and trade opportunities, a recent poll of local media has revealed.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative photo (Photo: travelpluto.com)
