Business News
Business news to help you keep track of the latest developments and identify new opportunities across key sectors in Southeast Asia
Monthly Business News to Help You Understand the Market
Singapore Boosts Defense Spending to USD 19.7 Billion by 2029
Singapore’s defense spending is projected to reach USD 19.7 billion by 2029, reflecting the country’s continued investment in advanced military technologies to maintain its ...
Billionaire Wealth in Singapore Surges to USD 155 Billion
Singapore has become an increasingly attractive destination for billionaires, with the number of high-net-worth individuals calling the city-state home rising to 47 in 2024. ...
PacificLight Power to Develop USD 1 Billion Hydrogen-ready Power Plant by 2029
PacificLight Power is set to develop a USD 1 billion hydrogen-compatible natural gas power plant on Jurong Island in Singapore, slated to begin operations by 2029. With a ...
BMW and Singaporean Company Team Up for Closed-Loop Battery Recycling
BMW Group has entered into a battery recycling partnership with Singapore-based SK tes to recover critical raw materials such as cobalt, nickel, and lithium from used ...
Resorts World Sentosa Unveils USD 5.07 Billion Expansion to Boost Singapore’s Tourism
Resorts World Sentosa (RWS) has initiated a USD 5.07 billion (SGD 6.8 billion) expansion project, slated for completion by 2030, aiming to enhance its appeal amid ...
Micron Invests USD 7 Billion in Singapore’s First HBM Packaging Facility
Micron Technology has started the construction of a High-Bandwidth Memory (HBM) advanced packaging facility in Singapore, part of a USD 7 billion investment to expand its ...
Singapore and Germany to Improve Smallholder Farming in Asia, Africa, and Latin America
Olam Agri, headquartered in Singapore, has signed a Memorandum of Understanding (MoU) with German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit ...
Singapore Eye Research Institute Expands International Partnerships
The Singapore Eye Research Institute (SERI) is forging strategic alliances with international partners to advance ophthalmic treatments and technologies. In November 2024, ...
Jewel Changi Airport Reports Record Footfall and Sales in 2024
Nature-themed entertainment and retail complex Jewel Changi Airport saw record-breaking foot traffic and sales in 2024, driven by a steady recovery in air travel. The retail ...
Singapore Reinforces Cybersecurity Through Partnership with US Firm Dragos
Singapore’s Digital and Intelligence Service (DIS) has signed a three-year Memorandum of Understanding (MOU) with Dragos Inc., a U.S.-based cybersecurity firm specializing in ...
Ninja Van Partners with URC to Enhance Product Distribution in the Philippines
Singapore-based Ninja Van has teamed up with Universal Robina Corporation (URC) to optimize product restocking and distribution across key retail locations. The partnership ...
FLS Group, AC Logistics Partner to Boost Energy and Infrastructure Sectors
FLS Group, a global logistics provider specializing in project cargo and heavy-lift transport, has partnered with AC Logistics, a Philippine-based end-to-end logistics ...
Philippines to Acquire 12 More FA-50 Fighter Jets, Highlights 2025 Defense Projects
The Philippine Department of National Defense (DND) is set to acquire 12 additional FA-50 Fighting Eagle light combat aircraft from Korea Aerospace Industries (KAI) by 2025. ...
Philippines to Offer More Telco Incentives as It Opens Asia’s First Open RAN Lab
The Philippine government is ramping up incentives for telecom companies to encourage participation in Asia’s first Open Radio Access Network (Open RAN) laboratory, set to ...
URC Inaugurates Advanced Milling Facility with Ocrim
Universal Robina Corporation (URC), one of the Philippines’ leading food and beverage companies, has unveiled a state-of-the-art milling complex in Sariaya, designed and ...
US Companies Eye Investment in Philippines’ Semiconductor & Electronics Sector
The Philippines has been attracting attention from several U.S. semiconductor and electronics companies following its participation in the Consumer Electronics Show (CES) ...
UAE’s Masdar Invests USD 15 Billion in Philippine Renewable Energy
Emirati state-owned energy company Masdar has committed to investing USD 15 billion in the Philippines’ renewable energy sector, following the signing of an Implementation ...
ADB and Ayala Partner to Expand Electric Vehicle Infrastructure in the Philippines
The Asian Development Bank (ADB) has signed a financing agreement of up to USD 100 million with Ayala Corporation to accelerate the development of an electric mobility ...
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