Latest news with #SingaporeEconomy
Independent Singapore
08-07-2025
- Business
- Independent Singapore
S'porean earning less than S$3K says they're ‘struggling to survive'
SINGAPORE: A local Reddit user who is having a hard time coping with their current financial challenges was looking for others who felt the same way. They asked in a recent post, 'Is anyone else feeling the pain and hardship of today's economy?' U/Adultingishard2345 wrote in their r/askSingapore post that they have 'no idea how people are surviving. From buying Housing & Development Board (HDB) flats, paying for trips, and having kids, how are you guys doing it?' They further explained that their salary is less than S$3,000 a month with Central Provident Fund (CPF), and on top of that, they have a number of health issues. Heartbreakingly, they added, 'I'm struggling to survive.' The post author is surprised that their friends can afford to buy a flat, go on vacation thrice a year, and have children and a helper. ' Is it just me, or are there others like me out there?' they asked. The Reddit users who commented on u/ Adultingishard2345's post, although sympathetic, let them know that part of the problem is their salary, which is significantly lower than what many in Singapore earn. 'The harsh reality is that most people earn more. The median salary is almost S$6k, which means 50% of people are higher than that. That's how everyone else can afford these things,' one wrote. 'Those people who can do all that are not earning $3k. Most of them will be earning around S$4k-S$5k per pax,' added another, although some chimed in to say that even that may not be enough. Others expressed anxiety as well, with an older worker writing, 'There's always that fear of layoffs, especially in the tech and finance industry. Even more scary for us over 40. We cut down a lot on our spending. Saving up for the rainy day, paying our mortgage in advance, and investing as much as we can. All we can do is prepare in case we get laid off.' Another observed that the post author is probably not the only one who feels the way they do. 'In Singapore, a lot are quietly suffering. Over time, it will become a mental issue. If you want to be happier in any economic situation, learn to live frugally and open your mind to the idea of moving overseas. 'If you load yourself with big commitments in Singapore, like a car loan and a 25-year mortgage, then obviously you are gonna be stuck in SG and going through thick and thin with the economy. A job lost will hit you harder than someone who has fewer commitments.' 'I would just think Singapore is not for everyone. I question myself in my early 30s. What is the meaning of my life in SG? Is it really just work, eat, gym, sleep, and pay my mortgage /loans, enjoy only 24 days of holidays in a year? If it's not for you, it's not for you. Find your meaning of life outside of SG,' a commenter added. 'You are probably at the bottom part of the spectrum in income level, and your existing health issues put you even below. Do explore gov't financial assistance programmes to see if you are eligible for any of them,' one advised. /TISG Read also: Singaporean asks if fresh tech grads are 'cooked' in terms of salary expectations
Globe and Mail
03-07-2025
- Business
- Globe and Mail
Imagen AI (IMAGE) Developer to Enable Ripple Labs Stablecoin RLUSD for Service Payments
Subtitle: RLUSD integration enhances transaction efficiency and multichain access across Imagen's AI-powered social ecosystem. Singapore, Singapore--(Newsfile Corp. - July 3, 2025) - The developer behind Imagen Network, the decentralized AI social platform, has announced plans to integrate Ripple Labs' new stablecoin, RLUSD, into its payment framework. The integration will allow users to utilize RLUSD for purchasing platform services, accessing premium AI features, and participating in governance-related staking systems. Expanding decentralized access with flexible digital payment options. To view an enhanced version of this graphic, please visit: RLUSD, Ripple's U.S. dollar-pegged stablecoin, brings high liquidity and compliance-ready infrastructure to the Web3 economy. By enabling RLUSD transactions across Imagen's ecosystem, the platform aims to streamline payments, reduce volatility for creators and communities, and provide a scalable alternative to native tokens for everyday transactions. Users will soon be able to use RLUSD to customize profiles, unlock AI creation modules, activate node-hosting features, and support community-led initiatives across Ethereum, BNB Chain, and Solana. The integration also aligns with Imagen's mission to foster a user-first decentralized economy with flexible, accessible, and secure digital tools. This move follows Imagen's growing list of stablecoin and asset-backed support, including its XRP reserve and BTC-funded infrastructure rollout. RLUSD brings added stability and utility to the Imagen ecosystem-marking another milestone in its push to make AI-powered, creator-led social interaction universally accessible. About Imagen Network Imagen Network is a decentralized social platform that blends AI content generation with blockchain infrastructure to give users creative control and data ownership. Through tools like adaptive filters and tokenized engagement, Imagen fosters a new paradigm of secure, expressive, and community-driven networking. Media Contact Dorothy Marley KaJ Labs +1 707-622-6168 media@ Social Media Twitter Instagram
CNA
26-06-2025
- Business
- CNA
Wealth Wise - What sort of a leader are you?
Wealth Wise It's a complex and fast-evolving world. We're navigating a post-COVID environment, rising geopolitical tensions, disruptive technologies like generative AI, and a workforce that's increasingly asserting control over how they want to be managed. We're talking about leadership styles — what works, what doesn't, and what needs to change. Lance Alexander speaks with Kirsty Poltock, Country Manager at Robert Walters Singapore.
Bloomberg
25-06-2025
- Business
- Bloomberg
Trade Isn't Supposed to Be Emotional. It Is Now
Singapore figured it had done a lot right in handling commercial ties with the US. Leaders emphasized America's surplus and put huge store in the nations' two-decade-old free trade accord. When President Donald Trump hit the city-state with a 10% levy, it was small comfort that the penalty was so much lower than that imposed on neighbors. How can longtime partners put a traditionally strong relationship back on track? So when former Australian Prime Minister Malcolm Turnbull was asked a similar question at a Nomura conference in Singapore this month, the hotel ballroom was all ears.
Reuters
23-06-2025
- Business
- Reuters
Singapore's annual core inflation rate 0.6% in May, matching poll forecast
SINGAPORE, June 23 (Reuters) - Singapore's key consumer price gauge rose 0.6% in May from a year earlier, official data showed on Monday, matching economists' forecasts. The core inflation rate, which excludes private road transport and accommodation costs, was in line with a forecast rate of 0.6% in a Reuters poll of economists. Headline inflation was 0.8% in annual terms in May, also matching the median poll forecast of 0.8%. It was the fifth consecutive month where the annual core rate was below 1%. Singapore's growth outlook has dimmed due to the economic uncertainty from U.S. tariffs. In April, the central bank loosened monetary policy for the second time this year and lowered forecasts for both core and headline inflation to 0.5% to 1.5%. Singapore has also downgraded its GDP forecast for 2025 to 0% to 2% growth, with officials saying the city-state faces a risk of recession and job losses.
