One of the Four Asian Tigers, Singapore has nurtured a booming, market-based economy since its separation from Malaysia in 1965. Due to a heavy reliance on exports, Singapore is particularly prone to swings in the global economy, as evidenced by the 2001-2003 global recession that resulted in an exaggerated domestic recession. This dependence, coupled with a lack of natural resources, also necessitated the development of a port system that is now one of the world's busiest. The small city-state has long been hailed as a haven for business, and was recently ranked by the World Bank as the best place to do business for the second year running. Singapore has strong manufacturing and service sectors, which combined to constitute over 90% of its GDP in 2006.
Learn more about the Singapore on globalEDGE Country Insights.
This month's poll question is:
"Indonesia recently cut off all sand exports to Singapore after a rift between the nations, one of many that frequently occur between ASEAN countries. Will Singapore and its neighbors be able to reach their goal of a single market by 2015?"
Please visit our homepage to vote on this month's poll question.
Best for Business: Singapore
CNN (September 26, 2007)
http://money.cnn.com/2007/09/26/news/international/bc.apfn.as.fin.worldban.ap/
According to an annual report by the World Bank, Singapore is currently the best place to conduct business. The report tracks 10 indicators of business regulation that measure the time and cost needed to comply with various government requirements.
Singapore, UK Conclude Landmark Open Skies Agreement
Channel NewsAsia (October 3, 2007)
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/303608/1/.html
Singapore and the United Kingdom have made an Open Skies Agreement that has surprised many analysts. The agreement allows both nations' airlines to operate like domestic carriers in either country.
India 'Close to Burma Port Deal'
BBC News, by Subir Bhaumik (October 10, 2007)
http://news.bbc.co.uk/2/hi/south_asia/7037890.stm
A deal that would extensively develop the Burmese port of Sittwe is in the final stages of negotiation. Expected to be complete within a month, the deal would require India to invest $103 million to develop the port and its surrounding facilities.
View more News on globalEDGE.
Singapore and Neighbors Just Can't Get Along
International Herald Tribune, by Wayne Arnold and Thomas Fuller (March 15, 2007)
http://www.iht.com/articles/2007/03/15/news/singapore.php
Since its separation from Malaysia in 1965, Singapore and its neighboring countries have been mired in constant quarrels. Indonesia's recent halt of sand exports needed to fuel Singapore's construction boom has aggravated tensions even further. While the price of sand has tripled since this cease in exports, analysts warn that tense relations and trade quarrels could have a greater economic impact on the growth of the entire region. ASEAN's goal of a single unified market by 2015 could prove to be unattainable if conditions fail to improve.
India Tries Outsourcing its Outsourcing
International Herald Tribune, by Anand Giridharadas (September 24, 2007)
http://www.iht.com/articles/2007/09/24/business/outsource.php
As the world looks to India for its outsourcing solutions, the south Asian nation is looking back for the same reason. In an attempt to better meet evolving global business needs, Indian outsourcing giants are venturing abroad, outsourcing their clients' outsourcing. Stemming from a theory that suggests the eventual spread of outsourcing around the world, India is hoping this bold and novel concept will keep it ahead of countries seeking to imitate its success.
View more In Depth Look articles on globalEDGE.
Knowledge in Global Supply Chains
By Tomas Hult (Volume 1, Number 2, pp. 1-2, 2007)
http://globaledge.msu.edu/newsandviews/businessReviews/gBR1-2.pdf
Executive Briefing: Despite the importance of supply chains to firms, we know little about the intangible aspects that determine why some global supply chains excel while others struggle. The fit among strategy and knowledge elements is a key determinant of global supply chain performance. But, which knowledge elements should be stressed by which firms?
This month's Featured Sites:
Singapore: International Enterprise Singapore
http://www.iesingapore.com/
International Enterprise Singapore contains listings of business and network contacts, guides on conducting business, export monitors, organization listings, company directories, and trade shows. A Business Forum is available that discusses diverse business opportunities in Singapore.
Country: Singapore
Singapore: Singapore Business Federation
http://www.sbf.org.sg/
The Singapore Business Federation (SBF) defends the interests of the business community in Singapore, in trade, investment and industrial relations. Internationally, SBF represents the business community in bilateral, regional, multilateral for a for the purpose of trade expansion and business networking. Membership is available for a fee but information such as numerous events and business opportunities can be accessed without membership.
Country: Singapore
Category: Trade: Trade Portals
International Business Times
http://www.ibtimes.com
The International Business Times contains news articles related to global business. The site links specifically to global news, market updates, company news, and much more. It is updated each day with international business news and registration for the daily newsletter is free.
Category: News & Periodicals: Global News
View recently added sites on globalEDGE.
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