You are here
Singapore Wrap Friday
National Wages Council's Guidelines
Despite weak productivity growth over the past few years, the National Wages Council (NWC), in the release of its wage guidelines for 2015/2016, stressed the importance of focusing on skills to ignite productivity growth and sustain wage increases.
- Government accepts National Wages Council's recommendations
- SNEF calls for focus on productivity to sustain wage hikes
- NTUC fully supports NWC's recommendations
Singapore's exports are expected to rebound in the next five years on economic and trade rejuvenation of emerging markets within Asia, specifically the country's key business partners, China, Malaysia and Indonesia.
An interest of not more than four per cent per month, and a late fee of not more than S$60 per month were among the many recommendations unveiled on Friday by the Advisory Committee on moneylending.
Indonesian billionaire Eka Tjipta Widjaja is getting support from Singapore financiers to fund expansion as he bids for a London-listed mining company.
Bank lending in April fell for the fifth straight month compared to a month earlier. Business lending was down sharply - the biggest contraction since November 2008 - and consumer loans dipped for the first time since April 2006.
Over the week, the STI lost 58 points or 1.7 per cent at 3,392.11, with Friday's session yielding a 25.66 points drop.