Singapore business, finance and trade news, every Monday.
Haze Sends PSI to 2026 High Before Grand Prix
Singapore's 24-hour PSI got as high as 192 in the central region, its the highest report so far this year, before easing to a still unhealthy “108 to 152.” A 28-agency task force is getting ready to hand out N95 masks to eligible Singaporeans if the index goes above 200. The Education Ministry may close schools and postpone national exams if the next day's forecast is in excess of 300. Grand Prix organizers have considered, but decided (at least to date) that they will not change their open-air entertainment program, though the FIA said restrictions are possible if the haze worsens. The race itself will continue in any event.
Read more: CNA (latest PSI readings), CNA (business turnout), Business Times (task force measures), The Independent Singapore (school closures), Business Times (FIA restrictions)
One in Five Retrenched PMETs Jobless After Two Years
One in five retrenched resident PMETs (those working as pofessionals, managers, executives and technicians) is still out of work after two years, according to what acting Manpower Minister Jasmin Lau said to Parliament. About six in 10 who find another job earn at least as much as before, but those who earn less take a median pay cut of about 25 percent. Workers in their 40s and 50s made up more than half of retrenched residents, and older PMETs return to work at lower rates. Retrenchments was up from 3,830 in the first quarter to 4,620 in the second, the highest total since late 2020.
Read more: The Independent Singapore (reemployment by age)
LTA Proposes One COE Category for Cars
LTA wants to merge Categories A and B into a single passenger-car category. The proposal being considered would mean that buyers of mass-market cars could get up to S$15,000 off their COE premium, and buyers of higher-end models could pay that much more. The current split has lost its bite because electric-vehicle makers are able to tune specifications at will in order to meet Category A limits. That category was S$130,001 in the latest tender, nearly the same as Category B. LTA is looking for feedback through Nov 2 on the price bands and whether they should apply to COE renewals.
Read more: Business Times (premium gap), Business Times (tender results)
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Biggest Data Centers Will Need Licenses
Parliament has passed a law that will require licenses for about two-thirds of Singapore's 70 data centers. Operators will be required to meet rules on energy use, physical security and recovery from fires, floods and power cuts. Most will also have to report cyber incidents. The licensing system will cover facilities with at least 10 MW of capacity or that pull in average annual revenue of more than S$100 million from local users over three years. Amazon Web Services, Microsoft Azure and Google Cloud are all likely to qualify for under these conditions.
Read more: Business Times
Clean Power Imports May Miss 2035 Target
Singapore may import only about 3 GW of low-carbon electricity by 2035, which is just half the target. The Energy Market Authority has conditionally approved 9.25 GW of projects in five countries, but none has started construction yet. Export permits, financing and a global cable shortage are some of the mentioned obstacles. Sembcorp's 300 MW floating solar project in Johor has an advantage because it can use an existing interconnector. It’s notable that even the full 6 GW target would provide only about 15 percent of Singapore's power in 2035, so to come up well short of that is missing the mark by a lot.
Read more: Business Times
Investment-Linked Policy Sales Double as Complaints Rise
Sales of investment-linked policies more than doubled over three years to S$2.88 billion in 2025. Alongside the rising sales, claims filed with industry mediator FIDReC rose from 42 in 2022 to 164 last year, with most alleging misrepresentation, poor disclosure or unsuitable advice. Newer policies often require few health questions because they provide minimal death cover. Many also advertise welcome bonuses that customers end up paying for by way of higher early charges (the large print giveth, the small print taketh away…). Those aged 61 and older brought 35 percent of claims in the first half of 2026, five times the share they picked up through 2022.
Read more: CNA
UOB Will Hire 1,000 Graduates Despite Shift to AI
UOB plans to recruit 1,000 graduates in Singapore by this time next year, mostly for permanent jobs in personal banking and anti-money laundering. CEO Wee Ee Cheong said AI can handle many routine tasks that are currently done by new graduates, but the bank isn’t going to stop hiring. Its flexible-work program for older employees and returning mothers will also add sales roles by early next year.
Read more: Business Times
Revolut Bets S$350 Million on Singapore
Revolut says that it will invest S$350 million in Singapore over five years and grow its staff from about 170 to more than 300 within three years. The UK fintech plans to move from co-working spaces into its own Collyer Quay office in early 2027 and will be hiring more staff for engineering, product management, data science and “AI” roles.
Read more: Business Times
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