Economy
GDP contraction widened to 13.2% in Q2
MTI’s economic forecasts were also further slashed for 2020.
Daily Briefing: Travelling Singaporeans, PRs can tap subsidies; PPRO raises $68.45m
And ride-hailing firm TADA raises US$5M led by Central.
Daily Briefing: Singapore to widen range of visitors as tourism wanes; COE prices close higher across all categories
And Singapore-listed KS Energy CEO charged with market rigging offences.
PMI remains in contraction at 45.6 in July: IHS Markit
In line with SIPMM’s results, it was the highest figure recorded in five months.
Daily Briefing: AirAsia to resume Malaysia-Singapore flights; Biotech startup Gero raises $3.02m in series A round
And e-learning marketplace ACKTEC secures undisclosed funding.
PMI expands to 50.2 in July after months of contraction: SIPMM
Sub-index performances also pointed to an improved external environment.
Daily Briefing: National Wages Council to update guidelines in the labour market; Fraxtor, QIP tie up to launch a property investment platform
And Pratt & Whitney lays off 20% of its Singapore workforce.
Services sector braces for weaker business environment in H2
Most segments, especially accommodation and real estate, are projecting demand to fall.
In exploring the ‘new normal', VCs “raise the bar” in their startup search
Student-led Protege Ventures shares their insights on how VCs will tread carefully.
Daily Briefing: $320m set aside to extend foreign worker levy rebates; Measures released for Singapore-Malaysia cross-border travel
And Diginex launches new Singapore crypto exchange.
Daily Briefing: Singapore deploys Biofourmis tech for COVID-19 monitoring; Face verification to allow sign up for digital banking
And restaurant no-shows rise as the F&B scene struggles through the pandemic.
Unemployment rate hits 2.9% in Q2
Retrenchments also jumped in Q2.
Daily Briefing: Tours in Singapore can now take up to 50 people; GIC's annualised return plunges to 2.7%
And at least 21 Singaporeans fall victim to transnational credit card fraud.
Daily Briefing: Singapore, Malaysia settles arrangements for cross-border travel from 10 August; StashAway raises $22.05m series C led by Square Peg
And Singapore and China commits on keeping supply chains.
Chart of the Day: Deflation persisted across all segments in June
Clothing and footwear prices dropped by 3.2% YoY.
MAS to keep S$NEER policy on hold in H2 2020: analyst
Further easing may unlikely yield results due to weak external demand and travel restrictions.
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