Tag: Singapore
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India, Indonesia, China to see biggest jump in real salary in 2024
This year, nine out of 12 places in Asia-Pacific received the highest real salary increases in the world, ECA International reported. TOSHIFUMI KITAMURA | AFP | Getty Images Workers in Asia-Pacific are predicted to receive the biggest real pay increase in 2024, according to ECA International. The average real salary increase — which is nominal…
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Southeast Asia looks to renewable power for energy security
The floating solar photovoltaic power plant by EDPR Sunseap Group, a unit of Energias de Portugal SA, in Woodlands, in Singapore, on Wednesday, Dec. 7, 2022. Bryan van der Beek | Bloomberg | Getty Images Southeast Asia is home to some of the world’s fastest-growing economies. As energy demand grows, the region is turning to…
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Singapore exports fall for 12th month in September but recovery seen
Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Bernd von Jutrczenka | Picture Alliance | Getty Images Singapore’s exports fell for a 12th straight month in September on a year-on-year basis as the trade-reliant economy grappled again with global headwinds on inflation and declining…
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ASEAN moves closer to economic unity with new regional payments system
Indonesian President Joko Widodo makes a speech during the Association of Southeast Asian Nations (ASEAN) Foreign Minister’s Meeting in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Agency | Getty Images A new regional cross-border payment system recently implemented by Southeast Asian nations could deepen financial integration among participants, bringing the ASEAN bloc…
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Malaysia’s FDI up 1.46 bln USD in Q2
KUALA LUMPUR, Aug. 18 (Xinhua) — Malaysia’s foreign direct investment (FDI) reached a record 900 billion ringgit (193.7 billion U.S. dollars) in the second quarter of 2023, an increase of 6.8 billion ringgit (1.46 billion U.S. dollars) from the first quarter, official data showed Friday. The Department of Statistics Malaysia (DOSM) said in a statement…
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A new private island opened near Singapore and Batam
Travelers from Singapore will soon have a new vacation option — one that doesn’t require a flight. A new Indonesian private island, named ONE°15 Marina Nirup Island, opened in July nine miles south of Singapore. The launch — the first of two phases — included the opening of a restaurant and bar, ferry terminal and…
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Japan signed a critical minerals deal with the U.S. — but it’s still losing the global EV race
Sony Honda Mobility CEO Yasuhide Mizuno speaks at a news conference in Tokyo, on Oct. 13, 2022. Sony and Honda’s joint mobility venture unveiled a new EV prototype in January. Kiyoshi Ota | Bloomberg | Getty Images Japan is gearing up to be a larger player in the EV space by signing a critical minerals…
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Grab cuts 1,000 jobs, its biggest round of layoffs since the pandemic
The headquarters of Grab Holdings Ltd., in Singapore. Grab Holdings Ltd., reported its latest earnings on Feb. 23, 2023. Bryan van der Beek | Bloomberg | Getty Images Singapore-based Grab Holdings is cutting over 1,000 jobs, its CEO said Tuesday, in a bid to manage costs and reorganize the company in a competitive landscape. In…
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Blinken to embark on a high-stakes trip to China
U.S. Secretary of State Antony Blinken speaks at the American Israel Public Affairs Committee annual policy summit on June 5, 2023 in Washington, DC. Chip Somodevilla | Getty Images Secretary of State Antony Blinken is expected to travel to China in the coming weeks for talks, two U.S. officials told NBC News on Tuesday. The…
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Hong Kong retains spot as most expensive business destination in Asia
Hong Kong has been named the most expensive location in Asia for business travelers — for the second year in a row, according to a new report. ECA International’s latest Daily Rates research ranked countries based on costs for short trip expenses: four-star hotel rooms, meals, laundry, alcoholic and soft drinks, journeys by taxi and…