Singapore services receipts down 1.1% in Q1

SINGAPORE'S services sector saw receipts fall 1.1 per cent year on year in the first quarter of 2020, in a reversal from the previous quarter's 4.5 per cent growth, according to a Department of Statistics release on Wednesday.

Will S$92b do it? Jobs may be best gauge of efficacy of support moves

THE effectiveness of government support in the Covid-19 crisis might better be assessed - if at all - in terms of its effect on unemployment, more than its mitigation against the recession, said analysts, who noted that efforts have explicitly been focused on jobs.

Singapore services sector takings fall 1.1% in Q1

SINGAPORE'S services sector saw receipts fall 1.1 per cent year on year in the first quarter of 2020, in a reversal from the previous quarter's 4.5 per cent growth, according to a Department of Statistics release on Wednesday.

FORTITUDE BUDGET

S$33b more to help firms, households, and to save, create jobs

TO support firms, save jobs, and create opportunities for workers, a S$33 billion supplementary Budget was presented by Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament on Tuesday, drawing a further S$31 billion from past reserves for the fourth Budget this year.

'No evidence of anti-competitive behaviour by petrol firms'

THERE is no evidence of anti-competitive behaviour by petrol companies here, and a fall in oil prices may not always mean a drop in retail petrol prices, said Senior Parliamentary Secretary for Trade and Industry Tan Wu Meng in Parliament on Tuesday.

Fortitude Budget: Extra S$13b to be set aside in Contingencies Funds

TO enable the government to act swiftly if needed to tackle the unpredictable Covid-19 crisis, an extra S$13 billion will be set aside in the Contingencies Funds this financial year, said Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament on Tuesday.

Fortitude Budget: Another S$800m set aside for Covid-19 Support Grant

ANOTHER S$800 million will be set aside for the existing Covid-19 Support Grant, as part of the Fortitude Budget that was presented in Parliament on Tuesday.

Fortitude Budget: S$33 billion package to support firms, save and create jobs

TO support firms, save jobs, and create opportunities for workers, a S$33 billion supplementary Budget was presented by Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament on Tuesday, drawing a further S$31 billion from past reserves for Singapore's fourth Budget this year....

Fortitude Budget: CPF contribution increase for seniors deferred to 2022

THE planned rise in Central Provident Fund (CPF) contribution rates for senior workers in 2021 will be deferred by one year, to help businesses manage costs in these challenging times, Deputy Prime Minister and Finance Minister Heng Swee Keat said in Parliament on Tuesday.

No evidence of anti-competitive behaviour by petrol firms in S'pore: Tan Wu Meng

THERE is no evidence of anti-competitive behaviour by petrol companies in Singapore, and a fall in crude oil prices may not always mean a drop in retail petrol prices, said Senior Parliamentary Secretary for Trade and Industry Tan Wu Meng in Parliament on Tuesday.

VIRUS OUTBREAK

Social services to get supplementary Budget help

THE supplementary Budget on Tuesday will include support for the social service sector, Deputy Prime Minister and Finance Minister Heng Swee Keat said in a Facebook post on Sunday.

TOPLINE

Hyphens Pharma revs up digital push amid Covid-19

HAVING transformed its traditional wholesale business into an online medical hypermart two decades ago, Hyphens Pharma International is now reaping the benefits of its digital strategy. The company, which sells pharmaceuticals and other consumer healthcare products, is now exploring how digital...

Upcoming supplementary Budget to include support for social service sector

THE supplementary Budget on Tuesday will include support for the social service sector, Deputy Prime Minister and Finance Minister Heng Swee Keat said in a Facebook post on Sunday.

Lian Beng seeks extension for disposal of assets competing with SLB unit

LIAN Beng Group has asked for a further extension of time to dispose of competing business in relation to its unit SLB Development, both the mainboard-listed construction firm and Catalist-listed SLB announced on Friday night.

VIRUS OUTBREAK

Firms restarting face supply snags, higher costs, weak demand

BUSINESS costs will rise as Covid-19 disrupts supply chains and necessitates safeguards, adding to the challenges of covering costs amid suppressed demand.

VIRUS OUTBREAK

Delayed reopening for retail, F&B: New help package on the way

MANUFACTURING and professional-services workplaces are among those allowed to re-open under the first phase of the lifting of circuit-breaker measures on June 2, even as another package of support for firms and individuals will be unveiled next week.

Manufacturing, professional services among first sectors to re-open; new support package next week

MANUFACTURING and professional-services workplaces are among those allowed to re-open - but with "maximum work-from-home arrangements" - under the first phase of the lifting of circuit-breaker measures on June 2, while another package of support for firms will arrive next week, said the multi-...

Landlords offer delivery support for F&B tenants amid Covid-19

WITH delivery becoming a lifeline for food and beverage (F&B) outlets during the Covid-19 outbreak, some landlords are chipping in to help their tenants on that front, in addition to rental rebates and other support.

VIRUS OUTBREAK

Some construction to resume from June 2, with special rules

FROM June 2, some construction projects will gradually be allowed to resume work, as will suspended residential renovation works. This is subject to meeting new safe-restart criteria developed for the industry, which include regular Covid-19 testing, and safe-distancing measures at worksites and...

BARFLY

Jazzing up shochu

SOMEDAY, when the bars reopen, you might spend an evening cocooned in a leather armchair, in a relaxing wood-panelled space where vinyl records spin and shelves are stacked with intriguingly labelled bottles.

Limited construction works to resume in June, subject to safe-restart criteria

FROM June 2, some construction projects will gradually be allowed to resume work, as will suspended residential renovation works. This is subject to meeting new safe-restart criteria developed for the industry, which include regular Covid-19 testing, and safe-distancing measures at worksites and...

VIRUS OUTBREAK

S$16b in government Covid-19 support disbursed between March and May so far

FROM March to May, firms and individuals in Singapore have received S$16 billion in government assistance to weather the Covid-19 crisis so far, Second Minister for Finance Indranee Rajah wrote in a Facebook post on Wednesday.

S$16b in Covid-19 support given out so far: Indranee

FROM March to May, firms and individuals have received S$16 billion in government assistance to weather the Covid-19 crisis so far, as "circuit-breaker" measures cross the halfway mark, Second Minister for Finance Indranee Rajah said in a Facebook post on Wednesday.

VIRUS OUTBREAK

Details out next week on first sectors to re-open after circuit breaker

DETAILS of the economic sectors or businesses involved in the first step of Singapore's post-circuit breaker re-opening will be shared next week, with many of these likely to be "more essential services", said Health Minister Gan Kim Yong at a Tuesday press conference by the Multi-Ministry...

Singapore testing all migrant workers in dorms, to clear them to return to work

SINGAPORE is in the process of testing all 300,000-plus migrant workers residing in dormitories for Covid-19, with a plan to allow them "to be progressively cleared so they can safely return to work when the time comes", said Health Minister Gan Kim Yong at a multi-ministry taskforce press...