Singaporean authorities announced that they would postpone the imposition of the Sustainable Aviation Fuel (SAF) levy on March 25. The SAF levy, which is originally scheduled to take effect for airline purchasers and other companies from April 1 and on, has been temporarily halted due to the tension in the Middle East by the Civil Aviation Authority of Singapore (CAAS).
Category: Singapore
China’s new five-year plan signals tech push for Singapore firms
On March 23, China has unveiled its 15th Five-Year Plan following the conclusion of the “Two Sessions”, setting out its economic priorities for the next five years.
Singapore equity reforms spur rising demand for research analysts
Financial institutions in Singapore are expanding their equity research teams as renewed momentum builds in the domestic stock market.
Indonesia strengthens trade ties with Singapore and Malaysia
On March 15, Deputy Minister of Trade Dyah Roro Esti held bilateral talks with Deputy Prime Minister and Trade Minister Gan Kim Yong of Singapore and Deputy Minister of Investment, Trade and Industry Sim Tze Tzin of Malaysia to strengthen regional trade and investment cooperation.
South Korea in quest to diversify economic, strategic ties through latest Southeast Asian visits
South Korean President Lee Jae-myung’s early March diplomatic tour to Southeast Asia included visits to Singapore and the Philippines, signaling South Korea’s strategic push to deepen engagement with countries in the region.
ASEAN raises alarm over energy concern due to Middle East conflict
ASEAN’s foreign ministers have urged diplomatic and peaceful solutions to the escalating crisis in Middle East, warning that the conflict could drive up energy prices, worsen inflation and threaten food security across the region.
Singaporeans evacuated from the Middle East using military aircraft
Singapore has deployed a military aircraft to evacuate its citizens from the Middle East as tensions escalate amid the ongoing war involving Iran.
Southeast Asia divided in reaction to the Middle East crisis
The US-Israel strikes on Iran, which killed the latter’s Supreme Leader Ayatollah Ali Khamenei and his influential aides on February 28, prompted different reactions across Southeast Asia. While geographically distant, Southeast Asian governments stated concerns, expressed with cautious language, economic anxiety, and, in some countries, blunt condemnation.
Southeast Asian states respond to Middle East crisis-driven fuel pressures
Following rising tension between US-Israel and Iran that started on February 28, fuel prices and demand in Southeast Asia have surged. One major factor was the blockade of Hormuz Strait which disrupted the global energy supply-chain through which 13 million barrels of oil per day are transported. There are rising concerns over liquefied petroleum gas (LPG) and gasoline rarity.
To anticipate further consequences, some Southeast Asian governments have introduced different measures. Myanmar restricts the use of personal cars as gasoline and diesel are two sources of energy in the country.
Etihad sells Abu Dhabi–Singapore tickets amid airspace disruptions
Etihad Airways has released tickets for flights from Abu Dhabi to Singapore starting March 5, as services between the UAE and Singapore gradually resume following regional airspace disruptions linked to the Middle East conflict.