Singapore (6do encyclopedia)



Singapore, officially the Republic of Singapore, is a sovereign city-state in Southeast Asia. Located at the southern tip of the Malay Peninsula, it is one of the world’s busiest ports and a major financial center.

Singapore’s history dates back over 700 years when it was known as Temasek, a small fishing village. In the 14th century, the island was ruled by the Sultanate of Malacca. Later, it came under Portuguese and then Dutch control, before being colonized by the British in the 19th century. Singapore was occupied by the Japanese during World War II and gained independence in 1965.

Since then, Singapore has experienced rapid economic growth and modernization. The government has implemented policies such as the creation of a free trade zone, investments in education, and attracting foreign investment to transform Singapore into a global financial center, and one of the Four Asian Tigers.

Singapore’s economy is highly developed, with a strong focus on trade and exports. It has the world’s busiest port, with over 600 shipping lines connecting it to 600 ports in 123 countries. The country is also home to the world’s largest oil refining center and one of the world’s largest financial centers.

In addition to the economy, the government has also prioritized education and healthcare, leading to high literacy rates and life expectancy. The country has a highly skilled workforce, with a strong emphasis on science and technology education. Singapore’s education system is highly regarded and consistently scores well in international rankings.

Singapore is a multicultural society with a diverse population of Chinese, Malay, Indian, and expatriates from all over the world. The government has implemented policies to promote racial harmony and religious tolerance. Singapore has four official languages: English, Mandarin, Malay, and Tamil. English is the language of administration, commerce, and education, while the other three are recognized as official national languages.

Singapore has a reputation for being a clean and green city. The government has implemented strict laws and policies to maintain cleanliness and urban green spaces. The city-state is also home to Gardens by the Bay, a nature park spanning 101 hectares that features exotic plants and offers a glimpse into the future of sustainable urban design.

Tourism is a significant industry in Singapore, with attractions ranging from world-class shopping and dining to cultural and entertainment events. Singapore is also well known for its unique blend of architecture, mixing traditional and modern designs.

Singapore’s government is a parliamentary representative democratic republic, with a unicameral legislature and a presidential system of government. The President is the head of state, while the Prime Minister is the head of government. The country has a reputation for being one of the least corrupt in the world, with a strong emphasis on transparency and accountability.

Despite its small size, Singapore plays a vital role in international relations. It is a member of the United Nations, ASEAN, and the World Trade Organization. As a major financial center, Singapore has close ties with other financial hubs such as New York, London, and Hong Kong.

In recent years, Singapore has faced challenges such as aging demographics and labor shortages. The government has implemented policies to address these issues, including encouraging immigration and investing in technology to improve productivity. Singapore is also working to diversify its economy, with a focus on the development of the digital economy and the creative industry.

In conclusion, Singapore is a unique and dynamic city-state with a rich history and culture. Its strong emphasis on education, healthcare, and economic development has transformed it into a global financial center and a hub for innovation. Despite its challenges, Singapore remains a shining example of a prosperous and harmonious society.


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Thai pro-democracy groups dominate vote in rebuke of military

Japan Times

23-05-15 02:44


Pro-democracy parties in Thailand are likely to form a coalition after gaining a majority of seats in parliamentary elections, marking the first real challenge to the monarchy since the military took power in 2014. With most of the votes counted, the Move Forward party, which seeks to change the laws that ban criticism of the king, led the national vote. The results also suggested a high turnout despite pre-election threats and intimidation from authorities. The ruling junta may try to subvert the result, but protesters have already taken to the streets to celebrate.

https://www.japantimes.co.jp/news/2023/05/15/asia-pacific/thai-vote-prodemocracy-military-rebuke/
Indian shares set to open tad lower as weak US data drags sentiment

Reuters

23-05-15 02:32


Indian share prices are expected to open lower on Monday due to decline in global equities and worries of an economic slowdown in the US. However, retail inflation in India cooling to an 18-month low in April has helped offset some of this pessimism. The Nifty 50 extended gains for the third week in a row on Friday, having risen by 5.5% since March 31, thanks to relatively stable earnings for Q1 2023 and the return of foreign institutional buying in Indian equities. The expansion in foreign institutional investors' buying continued on Friday, with them purchasing nearly INR 195bn ($2.38bn) of shares over the period.

https://www.reuters.com/world/india/indian-shares-set-open-tad-lower-weak-us-data-drags-sentiment-2023-05-15/
‘Genuinely worried’: US dollar woes fuel gold rush in Hong Kong, Singapore

South China Morning Post

23-05-15 01:30


Gold is becoming increasingly popular among investors in Singapore and Hong Kong as they search for safe havens to store money since the recent banking turmoil in the United States. Trade volumes have surged in the Asian trading hubs, with gold now being viewed more as a currency than a commodity. Hong Kong-based Precious Metals Asia reported that gold turnover in April increased by 40% since March and 110% since January. One of its founders, Padraig Seif, said investors were worried that keeping their money in low-yield deposit accounts would erode the long-term value of their savings. Gold has risen by 13% since March amid signals of a US economic slowdown, and fears of a potential credit crunch as a US debt default looms as the White House and Congress have been unable to reach agreement over raising the government's $31.4tn borrowing limit.

https://www.scmp.com/week-asia/economics/article/3220305/genuinely-worried-asian-investors-flock-safe-haven-gold-amid-us-dollar-woes
PBOC Extends Cash Support in May After Credit Growth Slumped

Bloomberg

23-05-15 01:28


China's central bank has infused more liquidity into the financial system for the sixth month in a row, in efforts to bolster economic growth amid waning recovery momentum. The People's Bank of China (PBOC) offered CNY 125bn ($18bn) of medium-term lending facility (MLF), CNY 25bn more than the amount matured in May. It is expected that the PBOC may step up monetary backing as several economic indicators revealed that economic recovery is faltering. However, Frances Cheung, rates strategist at Oversea-Chinese Banking Corp. in Singapore warned that the net liquidity injection is small, and not significant.

https://www.bloomberg.com/news/articles/2023-05-15/pboc-extends-cash-support-in-may-after-credit-growth-slumped?srnd=next-china
Chinese tech entrepreneurs go on global offensive

Financial Times

23-05-15 01:19


An increasing number of Chinese tech entrepreneurs are looking beyond their domestic market and expanding into foreign markets to address issues around intense competition at home and an uncertain operating environment. Despite geopolitical tensions, these entrepreneurs believe Chinese companies are not all controlled by the government, and are moving to foreign markets that are less price sensitive and tend to pay for tech that speeds up business processes. Some startups have the advantage of being able to price below competitors, such as Cloudpick and Passive Edge, while others target niche markets, such as Zhengchao Electric and its EV chargers for Oceania and southeast Asia.

https://www.ft.com/content/cbaef157-d914-402a-894d-90b24cc634ef
Singapore, Malaysia, Indonesia join forces to secure Unesco status for kebaya

South China Morning Post

23-05-16 06:02


The traditional and versatile kebaya blouse worn by women in Malaysia, Indonesia, Singapore, Brunei, and Thailand has been jointly nominated for inclusion in the UNESCO intangible cultural heritage list, with a decision expected in 2024. The stitched garment is beloved by women of all ages and backgrounds throughout the region and has evolved over time, with over a dozen regional styles developed, mostly in Indonesia and Malaysia. Although traditionally reserved for weddings and high-level events, the kebaya is increasingly finding favour among western-influence youth as a suitable daily wear option.

https://www.scmp.com/news/asia/southeast-asia/article/3220692/singapore-malaysia-indonesia-join-forces-secure-unesco-status-kebaya
Regulations and rules are stifling British tech

Telegraph

23-05-16 06:00


Activision Blizzard's has won approval for its £55bn merger with Microsoft by EU regulators, but has been blocked by the Competition and Markets Authority (CMA) in the UK. The CMA said the merger could buy Microsoft a stranglehold on cloud gaming which would stifle competition. When the CMA's decision was revealed Activision protested that it showed the UK was closed to growth businesses and putting investment at risk.

https://www.telegraph.co.uk/opinion/2023/05/16/regulations-and-rules-are-stifling-british-tech/
Business schools target executives’ green gaps

Financial Times

23-05-16 04:36


Executive education is helping to update business leaders whose degree programmes paid little attention to environmental, social and governance (ESG) concerns, according to FT. Reframing from the dominant approach of shareholder supremacy, executives across the globe are now taking executive courses to implement their companies' ESG initiatives. "It's very difficult to talk about leadership without talking about sustainability," said Russell Miller, director of learning solutions at Imperial College Business School. NUS Business School's director of the Centre for Governance and Sustainability, Lawrence Loh, added many executives are taking courses to keep pace with ESG changes in the industry.

https://www.ft.com/content/88499a8f-0f90-46fd-8cb0-903966e81a6c
Advocacy or practical? Taiwan evaluating plan for Asia’s first 4-day work week

South China Morning Post

23-05-16 09:00


The Taiwanese government is considering implementing a three-day weekend following a proposal signed by over 5,000 citizens. Four government ministries are assessing the idea and will generate an assessment report by the end of June. Although it would be a first in Asia, Taiwan's export-driven economy, largely made up of producer firms, is expected to oppose the motion to pay workers for an extra day of the week. To produce the goods that drive Taiwan's technology industry around 30% of its US$800bn economy, producers typically operate seven days a week.

https://www.scmp.com/economy/article/3220713/taiwan-evaluating-proposal-asias-first-3-day-weekend-manufacturers-wont-approve
Singapore to host 7-day festival of football as world’s best teams head to Asia

South China Morning Post

23-05-16 08:46


Asia is set to receive a host of pre-season football friendlies this summer, although premier side matches will bypass Hong Kong. Leading teams such as Liverpool, Roma, Manchester City, Bayern Munich and others will play in matches across Singapore, Tokyo and Bangkok instead. Standard Chartered Bank will host a week-long festival of games, featuring Jurgen Klopp's Liverpool and Leicester City at the National Stadium in Singapore. British and European-based sides Tottenham Hotspur, Celtic and Barcelona will also play in Asia as part of the festival.

https://www.scmp.com/sport/hong-kong/article/3220731/manchester-city-liverpool-barcelona-heading-asia-summer-singapore-bangkok-thailand-host-top-sides
NI children ranked fifth in the world for reading

BBC

23-05-16 08:38


Primary school children in Northern Ireland have been ranked fifth in the world in reading performance in an international survey of almost 60 countries. Hong Kong and Ireland did better than Northern Ireland, while Singapore came top with the highest reading score, awarded for the fourth time in a row since the study began in 2001. The Progress in International Reading Literacy Study (PIRLS) surveyed children close to the end of primary school. Its data revealed that more children excelled in reading when brought up in households with parents who read to them.

https://www.bbc.com/news/uk-northern-ireland-65602571
Michael Burry, Temasek add JD.com, Alibaba holdings as Dalio offloads China stocks

South China Morning Post

23-05-16 08:36


Ray Dalio's hedge fund Bridgewater Associates has reduced its stakes in Chinese firms as geopolitical tensions continue to rise, with the fund selling all of its 702,473 shares in Baidu and slashing its stakes in Weibo, Nio and PDD. Meanwhile, "The Big Short" money manager Michael Burry and Singapore's sovereign wealth fund Temasek used China's tumultuous market as a buying opportunity. Burry added 233% to his stake in JD.com at a cost of 250,000 shares and doubled his bet on Alibaba holding, with the two companies accounting for 20% of his $107m stock portfolio.

https://www.scmp.com/business/markets/article/3220716/michael-burry-big-short-fame-temasek-bulked-jdcom-alibaba-first-quarter-even-china-bull-ray-dalio
Map: Which coun­tries still have the death penal­ty?

Al Jazeera

23-05-16 08:05


A new report from Amnesty International shows that the number of executions increased by 53% in 2022. The total number of recorded executions across 19 countries reached 883, compared with 579 in 2021. These figures exclude China, where data is classified as a state secret, but it is estimated that thousands of executions have been carried out there. The majority of known executions were carried out in Iran, Saudi Arabia and Egypt. The report also showed that 112 countries have now abolished the death penalty for all crimes and a further nine have abolished it for crimes not committed during times of war. However, 55 countries still retain and implement the death penalty.

https://www.aljazeera.com/news/2023/5/16/map-which-countries-still-have-the-death-penalty-2023
Amnesty: Executions worldwide increased by 53% in 2022, rose in Iran, Saudi Arabia

The Toronto Star

23-05-16 13:13


Executions worldwide rose by 53% in 2022 compared to the previous year, with a sharp increase in Iran and Saudi Arabia, according to a report from Amnesty International. The number of executions in Iran rose by 83% to 576, while in Saudi Arabia, the number tripled to 196. The report, which records executions in 20 countries, also criticised Indonesia, which has “one of the highest numbers of new death sentences in Asia”, for sentencing an unsustainable 112 new people to death, 94% of which were related to drug offences. China, North Korea and Vietnam all failed to reveal data on the death penalty.

https://www.thestar.com/news/world/asia/2023/05/16/amnesty-executions-worldwide-increased-by-53-in-2022-rose-in-iran-saudi-arabia.html
Indonesia's biggest Islamic bank says customer data safe amid reports of breach

Reuters

23-05-16 13:04


Indonesia's biggest Islamic bank, Bank Syariah Indonesia (BSI), is looking to toughen its cybersecurity with regulators after 15 million account details were published online, according to cyber security expert Teguh Aprianto. While the bank hasn't confirmed that data was leaked, it said it was "conducting recovery, audit and mitigation efforts so that similar disruptions do not occur". Cyber attack group LockBit 3.0 claimed responsibility, and apparently accessed BSI data on 8 May, which was then published on Tuesday. The attack caused disruption from 8 May but the issue was resolved by the following day.

https://www.reuters.com/business/finance/indonesias-biggest-islamic-bank-says-customer-data-safe-amid-reports-breach-2023-05-16/
Singapore Airlines posts record profit as bookings to China, Japan soar

South China Morning Post

23-05-16 12:32


Singapore Airlines has recorded its first annual profit in four years, thanks to demand for air travel and a rise in bookings to China, Japan and South Korea. The city-state's flag carrier said the turnaround was in line with other airlines, which are beginning to rebound now the Covid-19 pandemic restrictions around the world are being lifted. However, operators are warning of inflation pressures and stronger competition now that many airlines are regaining ground, and also anticipate that near-term cargo demand could shrink as the supply chain bottlenecks learn and weaker economic conditions hit demand and trade.

https://www.scmp.com/news/asia/southeast-asia/article/3220780/singapore-airlines-posts-record-profit-amid-strong-demand-flights-china-japan-and-south-korea
What is China's strategy for Central Asia?

Deutsche Welle

23-05-16 12:08


Chinese President Xi Jinping will host the China-Central Asia Summit in northwestern China on 11/12 June. Leaders from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan will attend. The summit will be the first in-person high-level meeting between Xi and Central Asian leaders since Beijing established diplomatic ties with their countries over thirty years ago. At the conference, Xi is expected to deliver a keynote speech, exchange views with regional leaders on cooperation between China and Central Asia, sign "important political documents" and establish visa-free initiatives with multiple Central Asian countries.

https://www.dw.com/en/what-is-chinas-strategy-for-central-asia/a-65637703
Malaysia moves to decriminalise drug possession in major shift

The Independent

23-05-16 12:04


The government of Malaysia is seeking to introduce a bill which would decriminalise possession and small-scale use of illegal drugs in an effort to tackle overcrowding in the country's prisons and soften capital punishment for drug offences. While some southeast Asian nations take a hard stance on drug use and penalties, the Malaysian government has already made steps towards criminal justice reform under prime minister Anwar Ibrahim. Officials said the new "Drugs and Substance Abuse Act" would focus on rehabilitating smaller drug offenders, rather than sending them to jail.

https://www.independent.co.uk/asia/southeast-asia/malaysia-decriminalise-drug-possession-law-b2339767.html
U.S.-led supply chain talks put focus on minerals, semiconductors

Nikkei Asia

23-05-16 15:40


Negotiators for the US-led Indo-Pacific Economic Framework have made "strong progress" in building stronger and more stable supply chains for minerals and semiconductors in a bid to lessen reliance on China. Talks at the fourth IPEF gathering in Singapore focused on the four pillars of the framework: supply chains, trade, "clean economy" and "fair economy."

https://asia.nikkei.com/Spotlight/Supply-Chain/U.S.-led-supply-chain-talks-put-focus-on-minerals-semiconductors