Singapore is now among the top five finance hubs in the world after steadily attracting foreign bank assets and direct investment, according to London-based think tank New Financial. The city state has jumped from ninth place in 2015, overtaking the likes of China and investment fund centre Luxembourg, the think tank’s researchers found. The US, UK and Hong Kong cemented their positions in the top three, based on signs of international activity such as assets under management

Amity Group, a South-east Asian enterprise artificial intelligence technology firm founded in Thailand, announced on Monday (Jun 29) the launch of its Singapore office and AI Research & Application Center (ARAC). Founder and executive chairman Korawad Chearavanont said at a briefing in Singapore that the city-state will be the global home of Amity’s AI research capabilities as it targets US$200 million in annualised revenue by the end of this year. The group surpassed US$100

Singapore has returned to first place in the 2026 IMD World Competitiveness Ranking, rebounding from second place in 2025, displacing Switzerland at the top of the global leader board. The annual index of 70 economies was published on Thursday (Jun 18) by the Institute for Management Development (IMD), a Lausanne-headquartered, independent business school with hubs in Singapore, Shenzhen and Cape Town. The ranking is based on 92 survey questions and 172 pieces of data drawn f

The Republic is strengthening its place as Asia-Pacific’s leading wealth hub as assets under management (AUM) in the region are set to reach US$34.5 trillion by 2030. In its Asset and Wealth Management Revolution: Asia Pacific 2026 report, PwC said the region’s AUM will grow at a 6.8 per cent compound annual growth rate (CAGR), outpacing North America (6.2 per cent) and Europe counterparts (5.6 per cent). Total client assets are forecast to rise from US$107.2 trillion in 2024

The revised framework for single family offices (SFOs) will take effect on Jun 15, the Monetary Authority of Singapore (MAS) said in a news release on Friday (Jun 12). Existing SFOs have a transition period of one year – until Jun 15, 2027 – to comply, the authority said. The revised framework is meant to simplify the process for SFOs to establish operations in Singapore. It will also streamline their documentation and reporting requirements. Read more at: https://www.busines

Singapore’s first-quarter growth was solid and reflects the diversity and strength of its economy, but the global outlook remains uncertain, said Prime Minister Lawrence Wong on June 8. The country is making broad adjustments in areas like economic planning to deal with the uncertainty and technological change, but what is most important is its ability to maintain solidarity and unity, he said. “We cannot fully control how the world changes, but we can choose how we respond

ChatGPT creator OpenAI has committed more than $300 million to build Singapore’s applied artificial intelligence sector, a burgeoning field focused on integrating AI models into everyday workflows for productivity gains. Central to its plan is the opening of the OpenAI Singapore Applied AI Lab, its first outside the US. The lab will focus on advancing AI missions in public services, finance and healthcare sectors and digital infrastructure here. No timeframe was given for the

The UK’s partnership with Singapore is one of Britain’s “most strategically important” in the world, with the Republic serving as a key hub and gateway to South-east Asia, said the UK’s Investment Minister Jason Stockwood. Today, Singapore accounts for nearly 60 per cent of the UK’s exports to South-east Asia, directly or indirectly, he said in an interview with The Business Times during his recent three-nation tour of the Asia-Pacific that included stops in Malaysia, Singapo

Next-generation heirs, globally and in Singapore, are thought to prefer switching bankers after they inherit the family fortune, but this is not found to be the case. In its first global report on next-generation wealth holders, Swiss bank UBS found that a majority of heirs value advisory relationships established by the older generation. The report by the world’s largest private bank showed that 51 per cent of respondents indicated a preference to continue working with eithe

The National University of Singapore (NUS) Business School retained its place as the top-ranked business school in Asia-Pacific, said higher education analytics firm Quacquarelli Symonds (QS) on Wednesday (Apr 29). This was according to the 2026 edition of the  QS Executive MBA (EMBA) Rankings, which ranked 215 EMBA programmes across 55 countries and territories. QS also ranked 31 joint EMBA programmes in a separate list. A total of 35 business schools from 14 Apac countries

Singapore’s billionaire population has more than doubled since 2021, with further growth expected in the ranks of the ultra-wealthy in the Asia-Pacific, a Knight Frank report showed. The property consultancy’s latest Wealth Report released on Thursday (Apr 23) said the Republic added 35 billionaires over the last five years – bringing the total to 63 in 2026, from 28 in 2021. Singapore’s number of ultra-high-net-worth (UHNW) individuals – defined as those with a net worth o

Maritime hubs like Singapore are critical in ensuring trade carries on at a time when disruptions in the Strait of Hormuz cascade across the global economy, said Deputy Prime Minister Gan Kim Yong on April 21. Delivering the Singapore Maritime Lecture at the Suntec Singapore Convention and Exhibition Centre, he noted that the crisis in the narrow waterway is not just regional but a “systemic shock” that has had an impact on energy prices, transport costs and production chain

Singapore stocks have held up better than regional peers amid volatile global markets, with analysts pointing to the Republic’s safe-haven appeal reinforced by tighter monetary policy and a stronger currency following the Iran war. The Monetary Authority of Singapore on April 14 tightened its monetary policy stance for the first time since 2022, allowing for a stronger currency in the face of soaring oil and natural gas prices from the Iran war. The shift would likely keep th

Singapore’s position as a safe harbour for businesses navigating an increasingly unpredictable global landscape is anchored by three core principles – reliability, stability and transparency – said Law Minister Edwin Tong on Wednesday (Apr 8). Speaking at the Singapore Corporate Counsel Association (SCCA) Asia-Pacific Legal Congress, he said these principles are “operating commitments” underpinning the Republic’s legal and business ecosystem. “As a small, open economy, we fe

Singaporeans will get $500 in CDC vouchers half a year early – in June 2026 – to help them manage cost increases expected to result from the Middle East conflict. These vouchers were supposed to have been disbursed in January 2027 and will be valid until Dec 31 that year. The Cost-of-Living Special Payment will also go up by $200 for all eligible Singaporeans – that is, those with an assessable income of up to $100,000 and who do not own more than one property. Read more at

Hainan and Hong Kong offer Singapore new ways to connect with China, as its rapid development spurs the Republic to keep thinking of how it can add value to partners and to the world, Prime Minister Lawrence Wong said on March 28. He was speaking to the Singapore media at the end of his visit to China. During his trip from March 25 to 28, he attended the annual conference of the Boao Forum for Asia in Hainan province and met Hong Kong Chief Executive John Lee in the specia

SINGAPORE – The National University of Singapore (NUS) has again emerged as the top university in Asia based on global rankings by subjects, and is placed among the top three worldwide in seven subjects. Three Singapore courses also took second place in the prestigious Quacquarelli Symonds (QS) World University Rankings by Subject 2026 released on March 25: NUS’ civil and structural engineering, and materials science, and Nanyang Technological University’s (NTU) communication

SINGAPORE – Changi Airport has been named the world’s best airport in 2026 by London-based research firm Skytrax, the second year in a row after it also clinched first place in 2025 . In 2024, it was second. This is the 14th time it has won the title, a record in the history of the awards that started in 2000. The airport was also named best in Asia, best in the world for airport dining and immigration service, and the best airport that serves 60 million to 70 million passe

SINGAPORE - Although measures are in place to ensure that Singapore has enough energy to meet its needs, the conflict in the Middle East has driven up global gas prices, Minister-in-charge of Energy and Science & Technology Tan See Leng said in a Facebook post on March 12. “We must therefore expect electricity prices to increase in the coming months,” he noted. He added: “Households and businesses have a part to play because they can offset some of this impact by conserving

SINGAPORE - A new track under the Overseas Networks and Expertise (One) Pass will be introduced in January 2027 to strengthen Singapore’s ability to attract top talent in critical and emerging technologies such as artificial intelligence and quantum computing. Speaking during the debate on the Ministry of Manpower’s budget on March 3, Manpower Minister Tan See Leng said the One Pass (AI and Tech) will replace the existing Tech Pass , which was launched by the Economic Develop