The central banks took a relaxed approach toward inflation last year and must now take “drastic measures” to deal with the current high inflation, Singapore’s Prime Minister Lee Hsien Loong said on Sunday. Lee said in an interview with Nikkei Asia that the global economy had recovered from the COVID-19 pandemic faster than projected, in…
Central Banks Were ‘Too Complacent’ About Inflation Last Year: Singapore Prime Minister
May 23, 2022
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TSMC Weighs Multi-Billion Dollar Chip Plant Investment in Singapore
Taiwan Semiconductor Manufacturing Company Ltd explored building a semiconductor factory in Singapore to help address a global supply shortage, the Wall Street Journal reports. TSMC studied the feasibility of production lines that would make 7- to 28-nanometer chips widely used in cars, smartphones, and other devices. The cost would run into the billions of dollars. The…
Merck’s Antiviral COVID-19 Pill Approved in Singapore
Singapore has approved a second oral antiviral drug for treating COVID-19. Molnupiravir, branded as Lagevrio, was granted interim authorization under the Pandemic Special Access Route (PSAR) by the Health Sciences Authority (HSA) on April 19. The medicine was approved for treating mild to moderate COVID-19 patients aged 18 and above, who are at risk of…
Singapore Opens Up Second Booster Dose for Elderly and Immunocompromised
Singapore’s Ministry of Health (MOH) announced on Apr. 6 that eligible individuals over the age of 80 years may receive a second booster dose from Apr. 8 onward. This came just 2 weeks after the Multi-Ministry Taskforce accepted the recommendation by Singapore’s Expert Committee on COVID-19 Vaccination (EC19V) for all persons aged 80 years and…
Singapore to Return Close to Pre-Pandemic Normal With ‘Yellow’ Alert, Further Easing of Restrictions
Singapore authorities announced that the nation’s pandemic alert status will be lowered from “orange” to “yellow,” with further easing of community and border measures due to improving numbers for daily infections and hospitalizations. In a press conference on April 22, Health Minister Ong Ye Kung announced that the nation’s Disease Outbreak Response System Condition (DORSCON) level…
Severe Infections 5 Times More Likely Among Sinovac Than Pfizer COVID-19 Vaccine Recipients: Study
April 24, 2022
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The China-made Sinovac-CoronaVac vaccine is the least effective in preventing infection or severe symptoms among COVID-19 patients compared to the Sinopharm, Moderna, and Pfizer-BioNTech/Comirnaty vaccines, according to a recently published study from Singapore. “We observed a lower relative effectiveness of two inactivated whole virus vaccines (Sinovac-CoronaVac and Sinopharm) against COVID-19 infection compared with two mRNA…
Singapore March PMI Dipped Amid Russia–Ukraine Conflict, Rising Prices
Singapore’s manufacturing activity dropped further last month, showing the slowest rate of expansion in more than a year-and-a-half. The March reading of the Purchasing Managers’ Index (PMI) dipped 0.1 point to 50.1, which is the lowest since August 2020, according to data published by the Singapore Institute of Purchasing and Materials Management (SIPMM). The PMI…
Singapore Raises Electricity Tariff by 10 Percent Amid Global Energy Price Surge
The electricity tariff in Singapore is to increase by about 10 percent from April 1 to June 30 as the Russia–Ukraine war drives up global oil and gas prices, said SP Group, the country’s state-owned electricity and gas distributor, in a press release on March 31. Excluding goods and services tax, the household electricity tariff…
Singapore’s Labor Market Continued to Recover in 4th Quarter of 2021
Advanced estimates have shown that the labor market in Singapore continued to recover during the fourth quarter of 2021 as the economy grew. Resident employment grew at a faster pace and non-resident employment increased for the first time in two years, leading to a significant increase in total employment. Unemployment rates also continued to improve….
Singapore Rolls Out ‘Comprehensive Update’ to Extradition Regime With Passing of Extradition Bill
Singapore’s parliament passed an Extradition (Amendment) Bill that aimed to reform the Extradition Act of 1968 and bring it, and related Acts, in line with international norms. In his speech before Parliament on April 4, Second Minister for Law Edwin Tong said the bill’s objective was the “modernization” of Singapore’s extradition regime. “Whilst many of…
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