According to the latest figures released, Singapore economy has recorded a growth of 5.1 per cent during the first quarter compared to the same period of the previous year.
The advance estimates released by the Ministry of Trade and Industry (MTI) said on Monday that the growth rate was lower than 5.5 per cent recorded during the fourth quarter of the previous year. the data also showed that the economy grew at 0.1 per cent during the first quarter this year on a seasonally-adjusted annualised basis compared to the previous quarter.
Defence sector analysts have said that the visit by US defence secretary Chuck Hagel to China has helped clear some misunderstandings between the defence establishments of the two nations due to his style of straight-talking.
Taking a cue from weakness in U. S. markets, Asian and European stocks also ended Friday's session lower.
Deutsche Bank has reportedly suspended an employee after the bank identified potentially inappropriate communication between the employee and the Monetary Authority of Singapore (MAS).
A source familiar with the matter revealed that suspended Deutsche Bank employee Kai Lew was responsible for the bank's foreign exchange (forex) business with central banks.
Enraged at the Philippines' claims to South China Sea, Chinese Premier Li Keqiang has warned Southeast Asian countries that it would respond firmly to 'provocations'.
China has along been entangled in territorial disputes with a number of its neighbors, including Japan, India and the Philippines.
Last month, the Philippines challenged China's claims to the entire South China Sea at the United Nations' arbitration panel in The Hague. The move was enough to enrage China.
Singapore's tourism board recently removed a video designed to promote the country as tourist spot for the Philippine market, after it was ridiculed as 'so bad it will go viral' and cringe-worthy'.
Removing the three-minute clip titled "See where the world is heading," the Singapore Tourism Board (STB) admitted that some aspects of the video could have been done better.
The US dollar has fallen against the basket of major currencies after the Federal Reserve released the minutes of its policy meeting, indicating that the US central bank might be more cautious in rising interest rates than believes by market analysts. The dollar index was recorded at 79.52, near its lowest of 79.00 in 2013.
The Singapore Tourism Board (STB) has confirmed that it has taken down a promotional video, targeting Philippine tourists, due to its low production quality.
STB said the promotional video in question was produced by Philippine network ABS-CBN for the Philippines as part of its efforts to customize content for targeted audience.
A defense cooperation agreement between the United States and the Philippine is a clear manifestation of the United States' commitments on Asia rebalancing, Foreign Affairs Secretary Albert del Rosario said.
The two countries have agreed to sign a defense cooperation agreement, which would allow the U. S. to share Philippine bases, increase the rotation U. S. ships, aircraft and troops through the Asian country, as well as it would reassure U. S. allies of stronger support against a rising China.
Australian Prime Minister Tony Abbott's imminent visits to Japan and China will likely give momentum to Australia's free trade deals with both countries.
While Japan is a strategic ally of Australia, China is its biggest economic partner. Australia calls Japan its closest friend in Asia, which sometimes create doubts in Chinese government about Abbott's loyalties towards China.