SG’s digital economy boosted GDP by $106B, created over 200K tech jobs in 2022

With its meteoric rise and substantial contributions to GDP and employment, Singapore’s digital economy is undoubtedly poised to continue shaping the nation’s economic landscape in the years ahead, as evidenced in the insights within the Singapore Digital Economy Report.

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X CEO Yaccarino tells bank lenders that revenue grew by single-digit percentage -sourceSocial media platform X recorded high single-digit percentage revenue growth in the third quarter compared to the second quarter, X Chief Executive Linda Yaccarino told the company\u0027s bank lenders in a meeting on Thursday, according to a person who was on the call.The size of X\u0027s revenue, which includes mo
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Dell\u0027s revenue forecast signals AI boost will take longer to materialiseDell Technologies on Thursday (Oct 5) reiterated that it expects revenue to grow at a compounded annual rate of 3 per cent to 4 per cent over the long term, disappointing some investors who expected AI to drive a bigger sales jump and sending its shares down 4 per cent. The company, which makes PCs and ser
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Cost-of-Living support package to boost retail sales\u003Cp\u003E\u003Cstrong\u003EFor 2023, UOB expects retail sales to grow by 3.5% \u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EExperts remain positive on the outlook of the retail market, citing many upside risks, including Singapore’s $1.1b Cost-of-Living Support Package.\u003C/p\u003E\n\u003Cp\u003E“The additional cash disbursement of up to $200 in Dec 2023 for eligible Singaporeans under the Assurance Package (AP) and an extra $200 of CDC vouchers for each Singaporean household could provide incremental support to retail sales, on top of the handouts already announced in Budget 2023,” Jester Koh, UOB associate economist, said. \u003C/p\u003E\n\u003Cp\u003EThe additional relief from the government brought the AP to over $10b.\u003C/p\u003E\n\u003Cp\u003EApart from the relief package, Koh believes “consumers may front-load some of their spendings, particularly on big-ticket items like furniture, household equipment, watches and jewellery ahead of the second tranche of GST increase from the current 8% to 9% on 1 Jan 2024,” which, in turn, will boost retail sales.\u003C/p\u003E\n\u003Cp\u003E“We continue to expect retailers to enjoy some level of domestic and external support,” Koh said. \u003C/p\u003E\n\u003Cp\u003EOther factors that can boost retail sales include major events such as various sports, popular concerts and BTMICE (Business Travel and Meetings, Incentive Travel, Conventions and Exhibitions) activities and rising employment and resilient wage growth.\u003C/p\u003E\n\u003Cp\u003EKoh, however, warned of downside risks to retail sales which include a weakening external environment, greater-than-anticipated easing in domestic/regional labour market conditions, and a slower-than-expected recovery of inbound Chinese tourists.\u003Cbr /\u003E\n \u003C/p\u003E
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