Tag: COVID19
Written by Gabriel HerveyMarch 26, 2020
COVID-19 Budget: Income tax payments for companies, self-employed people delayed for 3 months
News Business Article
SINGAPORE: Companies and self-employed people will get an automatic deferment of income tax payments for three months, announced Deputy Prime Minister Heng Swee Keat in Parliament on Thursday (Mar 26), amid an economic slowdown caused by the COVID-19 outbreak. The deferment is part of a slew of measures under a S$48 billion Resilience Budget announced by Mr
Written by Gabriel HerveyMarch 26, 2020
President Halimah Yacob gives ‘in-principle support’ to draw on reserves for second COVID-19 assistance package
News Business Article
SINGAPORE: President Halimah Yacob has given her in-principle support for Singapore to draw on its past reserves, as part of a second assistance package in response to the COVID-19 pandemic. In a message to Parliament – delivered by Speaker of Parliament Tan Chuan-Jin on Thursday (Mar 26) – the President said her support was given
Written by Gabriel HerveyMarch 26, 2020
Singapore’s economy contracts by 2.2% in Q1 as COVID-19 outbreak hits construction, services sectors
News Business Article
SINGAPORE: The Singapore economy contracted by 2.2 per cent year-on-year in the first quarter, as the COVID-19 outbreak and global measures to prevent its spread threw a wrench in the construction and services industries, according to flash estimates released on Thursday (Mar 26). This is the worst contraction since the global financial crisis in 2009, and compares with the
Written by Gabriel HerveyMarch 26, 2020
Malaysia’s king, queen under quarantine after 7 palace staff test positive for COVID-19
News Business Article
PUTRAJAYA: Malaysia’s king and queen have been placed under quarantine, after seven palace staff tested positive for COVID-19. In a statement on Thursday (Mar 26), the Istana Negara said that all seven staff members are currently receiving treatment at the Kuala Lumpur Hospital. They are in stable condition. Advertisement Advertisement The Health Ministry is currently
Written by Gabriel HerveyMarch 26, 2020
Some Singapore court hearings to take place via video conference as judiciary rolls out COVID-19 measures
News Business Article
SINGAPORE: As part of its measures to tackle the COVID-19 outbreak, Singapore’s judiciary will be enabling certain court hearings to be heard via teleconference or video conference, the Chief Justice said in a speech on Thursday (Mar 26). Pilots have been run for selected hearings in the Court of Appeal and High Court to be
Written by Gabriel HerveyMarch 26, 2020
UK deaths from COVID-19 outbreak climb to 463
News Business Article
LONDON: The number of coronavirus deaths in the United Kingdom rose to 463 as of Wednesday (Mar 25) from 422 on Tuesday, the British government said. The total number of coronavirus cases in the UK were at 9,529 as of Wednesday, compared to 8,077 cases as of Tuesday, the statement added. Advertisement Advertisement The government
Written by Gabriel HerveyMarch 26, 2020
World leaders to hold crisis talks as COVID-19 toll tops 21,000
News Business Article
MADRID: World leaders are to hold online crisis talks Thursday (Mar 26) on the coronavirus pandemic that has forced three billion people into lockdown and claimed more than 21,000 lives. With the disease tearing around the globe at a terrifying pace, warnings are multiplying over its economic consequences, with experts saying it could cause more damage
Written by Gabriel HerveyMarch 26, 2020
Singapore’s factory activity plunges 22.3% in February from previous month amid COVID-19 outbreak
News Business Article
SINGAPORE: Factory activity in Singapore plunged more than 20 per cent in February from the previous month amid a deepening global coronavirus outbreak, adding to a grim economic outlook for the trade-reliant hub. On a seasonally adjusted month-on-month basis, manufacturing output fell 22.3 per cent in February, according to data released by the Economic Development
Written by Gabriel HerveyMarch 26, 2020
COVID-19: Vehicle Entry Permit for Malaysia-registered vehicles extended until Jun 30
News Business Article
SINGAPORE: The validity period for a Vehicle Entry Permit (VEP) for Malaysia-registered vehicles will be extended until Jun 30 to help Malaysians who have opted to stay in Singapore during period of Malaysia’s movement control order, the Land Transport Authority (LTA) said on Thursday (Mar 26). “Many Malaysian workers have chosen to remain in Singapore as
Written by Gabriel HerveyMarch 26, 2020
Fake cures, risky rumours: COVID-19 misinformation hits home
News Business Article
HONG KONG: From being duped into taking poisonous “cures”, to watching businesses crumble and avoiding life-saving medication, people are suffering devastating real-world impacts of a deluge of online virus misinformation. As the new coronavirus that has killed more than 20,000 people causes markets to crash and sets scientists scrambling for a solution, rumours and false
Written by Gabriel HerveyMarch 26, 2020
COVID-19: Travellers to Singapore will receive notice of stay-home requirement before arrival
News Business Article
SINGAPORE: Travellers arriving in Singapore from 9am on Friday (Mar 27) will be notified of their stay-home requirement via email before they arrive in the country, the Immigration and Checkpoints Authority (ICA) said in a news release on Wednesday. The move will enable travellers to be notified of the requirements in advance, instead of only
Written by Gabriel HerveyMarch 26, 2020
UK deaths from COVID-19 outbreak climbs to 463
News Business Article
REUTERS: The number of coronavirus deaths in the United Kingdom rose to 463 as of Wednesday (Mar 25) from 422 on Tuesday, the British government said. The total number of coronavirus cases in the UK were at 9,529 as of Wednesday, compared to 8,077 cases as of Tuesday, the statement added. Advertisement Advertisement The government
Written by Gabriel HerveyMarch 26, 2020
COVID-19 death toll passes 20,000, three billion under lockdown
News Business Article
MADRID: More than 3 billion people around the world were living under lockdown on Wednesday (Mar 25) as governments stepped up their efforts against the coronavirus pandemic which has left more than 20,000 people dead. As the number of confirmed cases worldwide soared past 450,000, UN Secretary General Antonio Guterres warned that only a concerted global
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Commentary: The problem with reusing the 2009 global financial crisis playbook to deal with COVID-19
NEW HAVEN, Connecticut: In an effort to get a handle on the economic and financial consequences of the COVID-19 pandemic, the first instinct is to search for precedents and remedies in earlier crises. Many have pointed to the 2008 global financial crisis (GFC) as the most relevant example, especially in the aftermath of the extraordinary