Singapore’s economy expanded 4.8% year on year in the second quarter of 2022, led by the manufacturing sector, according to advance estimates released by the country’s Ministry of Trade and Industry (MTI) on July 14.
Cargo vessels at a port in Singapore (Photo: Xinhua/VNA)
Hanoi (VNA) – Singapore’s economy expanded 4.8%year on year in the second quarter of 2022, led by the manufacturing sector, according to advance estimatesreleased by the country’s Ministry of Trade and Industry (MTI) on July14.
The Q2 growth rate was lower than the 5.4% prediction byeconomists polled by Bloomberg and unchanged on quarter-on-quarter seasonally-adjusted basis.
Meanwhile, the pace wasstill faster than the upwardly revised 4% in Q1.
The slower-than-expected growth during April - June indicated weakening global and domestic demand for goodsand services amid surging inflation.
MTI in April had maintained its 3% to 5% economic growthforecast for 2022, but warned that the pace ofexpansion will likely come in at the lower half of the forecast range becauseof the impact of the Russia - Ukraine conflict and China’s strict COVID-19lockdowns.
Also on July 14, the MonetaryAuthority of Singapore further tightened its policy stance,making room for a stronger Singapore dollar to douse the impact of risingglobal prices/.
As a result of higher energy and food costs, Singapore’s core inflation accelerated to 3.3 percent year-on-year in April from the 10-year high of 2.9 percent in March.
The Ministry of Trade and Industry (MTI) of Singapore on May 25 predicted that the country's GDP growth this year may reach only 3-4 percent, lower than the previous forecast of 3-5 percent for this year.
Private-sector analysts have shaved their growth forecast for Singapore for 2022, with the sharper-than-expected rise in inflation and slower economic activity in China among the downside risks for the Southeast Asian nation's economy, according a quarterly survey released by the Monetary Authority of Singapore (MAS).
Singapore on June 21 announced a support package worth 1.5 billion SGD (about 1.08 billion USD) to provide immediate relief for vulnerable people and businesses amid rising inflation.
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.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Cargo vessels at a port in Singapore (Photo: Xinhua/VNA) 
