Singapore has lowered its economic growth forecast for 2016 to between 1-2 percent, down from the initial range of 1-3 percent, the Singaporean Ministry of Trade and Industry (MTI) said on August 11.
Boats sail past Pulau Bukom oil refinery along the southern coast of Singapore on June 8, 2016 (Source: Reuters)
Singapore (VNA) - Singapore has lowered its economic growth forecast for 2016 to between 1-2 percent, down from the initial range of 1-3 percent, the Singaporean Ministry of Trade and Industry ꦯ(MTI) said on August 11.
The move took into account a slightly weakened global economy and the impact of Britain's vote to exit the European Union last June, which dampened and also added uncertainties to the global growth outlook, the ministry said.
Most key economies, with the exception of the US, are expected to see similar or lower growth in the final six months of the year, compared to the first half, according to the ministry.
The same day, the ministry also released gross domestic product (GDP) figures for the second quarter, which saw Singapore’s economy expanding 2.1 percent compared to the same period a year ago, marginally lower than the Government’s earlier estimate of 2.2 percent and unchanged from the previous quarter .
Manufacturing activity expanded by 1.1 percent year-on-year, reversing from a 0.5 percent decline in the previous quarter.
While the service sector grew 1.4 percent, lower than the estimate of 1.7 percent released in the first quarter.-VNA
Singapore’s employment rate in 2015 was 0.9 percent or 31,800 more people were employed last year, the lowest annual growth since 2003, said the Manpower Ministry (MOM) on January 28.
Singapore ’s economy rose only 1.8 percent year-on-year in the first quarter of this year, according to estimates released by the country’s Ministry of Trade and Industry.
The Singaporean economy grew 2.2 percent on a year-on-year basis in the second quarter of this year, marginally higher than the 2.1 percent expansion in the previous quarter.
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In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Boats sail past Pulau Bukom oil refinery along the southern coast of Singapore on June 8, 2016 (Source: Reuters)
