SINGAPORE's manufacturing activity in February posted a larger-than-expected contraction of 4.7 per cent year on year, versus street estimates of a 1.5 per cent fall.

CIMB is in talks to potentially sell at least part of its brokerage in Singapore to a Chinese broking house, the head of the Malaysian lender's securities arm hinted on Thursday.

CONSISTEL subsidiary OMGtel formally announced on Thursday that it was in the race to become Singapore's fourth telco. It thus joins fibre broadband services provider MyRepublic as the two companies which have formally announced their interest in becoming Singapore's new mobile phone services operator.

FINANCE Minister Heng Swee Keat's maiden Budget managed to stay true to the spirit of being "prudent" without disregarding a counter-cyclical expansionary stance required to buffer – or at least avoid unnecessary collateral damage from – global economic headwinds.

MAKING his first Budget speech as Finance Minister, Heng Swee Keat announced a S$4.5 billion economic programme to integrate Singapore's restructuring efforts, even as he introduced measures to address short-term pressures.

IN his maiden Budget that he presented to Parliament on Thursday, Finance Minister Heng Swee Keat managed to pull off something of a coup. He increased spending by 7.3 per cent, did not introduce any significant new taxes – neither direct nor indirect – and yet produced a projected budget surplus of 0.8 per cent of GDP – this in what is likely to be another slow-growth year.