The neighbours are also putting in place travel arrangements for their residents who hold long-term immigration passes for business and work in the other country, their foreign ministries said in a joint statement.
Singapore’s trade-reliant economy plunged into recession in the second quarter with a record contraction, signalling a rough first half globally and an equally challenging outlook as the coronavirus crisis exacts a heavy toll on business and demand.
Banks to tighten lending practices for Singapore’s commodity sector, according to some sources. Commodity trade financiers in Singapore are teaming up to strengthen lending practices and improve transparency
Lockdowns and panic food buying due to the coronavirus pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist at FAO and agricultural analysts said.
Singapore Airlines said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return.
Singapore Airlines warned passenger capacity may remain at less than half of pre-pandemic levels by its March 2021 year-end after slumping to a S$1.12 billion ($817 million) first-quarter net loss due to a sharp decline in demand.
Singapore’s core inflation gauge fell to its lowest level in more than a decade in July, official data showed on Monday, amid soft consumer spending due to the coronavirus pandemic and a steep fall in electricity prices.
The city-state is the latest Asian country to ease travel restrictions in a region that has generally been more reluctant to lift barriers than Europe and North America.
Southeast Asia’s biggest lender DBS Group Holdings Ltd beat market estimates to post a record quarterly profit, as strong lending income offset weakness in wealth management, brokerage and investment banking fees. DBS, the first Singapore bank to kick off the sector’s results, posted an 8.5 per cent rise in first-quarter net profit from a year earlier,