Economy
EDBI and SEEDS Capital to disburse $285m to startups
EDBI and SEEDS Capital to disburse $285m to startups
The scheme will provide time-limited funding during the pandemic.
Daily Briefing: Singapore fishery ports to be consolidated; LingoAce nabs $9.77m in series A funding
Adn Hubble landed $5.02M in Tin Men capital-led series A.
Chart of the day: Transport costs dipped 4% YoY in April
It is considered as one of the main factors that dragged consumer prices over the period.
Chart of the Day: Fourth budget to lift budget deficit to 15.4% of GDP
Singapore to see the largest budget deficit since independence.
Daily Briefing: Eligible Singaporeans to receive cash payments from 18 June; CPF contribution rates to stay the same
And car-sharing player Smove files for liquidation.
PMI improves slightly to 46.8 in May
This is due to slower contractions in key indexes.
PMI deteriorates further to 27.1 in May: IHS Markit
Despite deflationary pressures, purchasing power remained weak during the month.
Daily Briefing: National Jobs Council to open job pathways amidst pandemic; Moovaz acquires SPH publication The Finder
And startup Intelllex bags $2.94m from Quest, Reuters, Insignia, others.
Chart of the Day: Headline consumer prices fell 0.74% YoY in April
This is the second straight month of deflation for the city-state.
Philippines' manufacturing PMI rose to 40.1 in May
Easing of measures helped businesses to restart operations.
Daily Briefing: HDB to offer 7,800 BTO flats in August sales exercise; XA Network invests in Vertex Ventures' $428.39m fund IV
And Singtel Innov8 backs $73.04m series D in Synack.
Singapore climbs to 16th place in global startup ecosystems rankings
Its status as a global fintech hub helped boost its position.
Daily Briefing: NTU, Facebook to launch programme for data centre certificates; Temasek leads $39.38m series C funding in Arterys
And startup accelerator Iterative reveals the first cohort of startups.
Chart of the day: Industrial production up 13% YoY in April
This is attributed to the biomedical manufacturing cluster.
Daily Briefing: FairPrice, WhyQ launch zero-commission food delivery platform; Endofotonics bags $12m series B funding
And Wiz.ai nabs $8.48m pre-series A funding led by GGV Capital.
RIABU's pledge2play backs debt-ridden SMEs in payments showdown with big firms
Most SMEs are cash-strapped before COVID-19 and loans are seen as an expensive option.
Business in the time of Corona
Singapore’s business leaders reveal how they responded and how firms are coping with it.
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