Singapore Economy

'A culture shift' with coordinating ministers

The appointment of three veterans as coordinating ministers this week could spark a culture shift in the way the civil service tackles challenges that cut across multiple agencies, observers said yesterday. They also noted that while the impact of this move may not be immediately visible to the public, these changes to the Cabinet could improve how policies are drawn up and put into practice.

Mr Fix-It called on again

That Mr Khaw Boon Wan has been appointed the next Transport Minister is probably no big surprise. He has earned himself a reputation of being Mr Fix-It, after having helmed two ministries during their most difficult periods - Health and National Development.

Singapore remains world's second-most competitive economy

Singapore kept its position as the world's second-most competitive economy this year despite concerns over rising business costs, tighter labour policies and slowing growth. This is the fifth year running that Singapore has come in second behind Switzerland, which stayed in pole position in the annual Global Competitiveness Report, compiled by the World Economic Forum (WEF). The ranking of 140 economies is seen as the most comprehensive assessment of its kind.

Singapore still 'leading commodities hub for Asia'

Singapore remains the leading Asian trading hub for commodities, thanks to its extensive financial sector and strong regional transport links, according to a report released by trade agency IE Singapore yesterday. Its strengths should also keep it at the forefront despite the ongoing slump in commodities, said Ms Gina Lim, the agency's group director for trade services and policy.

Slowing productivity 'leaving the world vulnerable to slump'

Flagging productivity is one of the main culprits accounting for low growth and persistently high unemployment in economies around the world, the World Economic Forum (WEF) said yesterday. In its annual Global Competitiveness Report, the WEF said this "new normal" is damaging resilience and leaving the world vulnerable to another protracted economic slump.

Singapore Real Estate

Singapore property auction market up in Q3

The Singapore property auction market picked up in the third quarter of the year compared to the second, said property consultant JLL. Deals worth S$27.6 million were done, more than double the S$10 million seen in the second quarter. However, the third quarter auction value was slightly below the S$31.7 million done a year ago.

No rush for ECs despite rule changes

Agents were hardly rushed off their feet when the first two executive condominiums (ECs) to be launched after changes to the income ceiling rules hit the market on the weekend. JBE Holdings sold about 20 per cent of its 525-unit Signature at Yishun, while The Criterion next door received about 200 e-applications for its 505 apartments.

Global Economy & Global Real Estate