Finance

Australian AI startup Firmus and DayOne are partnering to build a 360MW Nvidia data center campus in Indonesia's Batam. This eight-year deal with Nvidia is expected to generate $25B-$30B in committed offtake agreements, fueling the region's growing AI infrastructure needs.

Category A COE premiums surpassed Category B for the third time in 2026, while all premium categories saw declines during the latest bidding exercise. Commercial and motorcycle COEs also dropped.

HDB launched 6,952 BTO flats in June 2026, including two Prime projects in Bishan and Bukit Merah. The exercise also enhances the Third Child Priority Scheme quota to up to 10%, supporting larger families with new housing options.

Amid declining recycling rates, Singapore is reviewing its Zero Waste Masterplan. The goal is to boost circular economy efforts and extend Semakau Landfill's lifespan beyond 2035. This comprehensive review will involve public and industry input.

Singapore remains crucial in the global chip race, producing one-tenth of chips worldwide. To maintain its edge amid intense competition, it focuses on specialty and mature technologies. Future success depends on deep investment in R&D, talent, and regional supply chain resilience.

IMDA and Microsoft deepened their partnership to enhance AI safety and security in Singapore. The collaboration will focus on research, knowledge sharing, and policy development for frontier AI models. This ensures AI remains trustworthy while fostering innovation.

To compete for tenants, Singapore landlords are adding amenities like pickleball courts and fitness centers to office buildings. This "placemaking" trend boosts workplace appeal, allowing high-quality properties to charge up to a 20% rental premium.

JPMorgan Chase has significantly expanded its private banking presence across Asia. The bank doubled its Singapore-based banker team and increased staff serving South-east Asia and Australia to over 50. This strategic growth aims to capture more wealth management business, particularly in Indonesia.

Singaporean households can claim S$500 CDC vouchers starting June 11. The disbursement was brought forward from 2027 to ease cost pressures amid global uncertainty. Funds must be split between participating hawkers/merchants and supermarkets, remaining valid until December 31, 2027.

Veteran banker Lim Leong Guan will lead Bank of Singapore's Dubai franchise from July 1st. He heads private banking for the Middle East, South Asia, and International regions. This appointment strengthens BOS’s focus on ultra-high-net-worth clients in key global hubs.

CGSI upgraded Singapore's banking sector to 'overweight,' citing robust capital inflows and loan growth. The upgrade is driven by expected Net Interest Income (NII) expansion, structural gains in wealth management, and improved asset yields.

Singapore's stock market declined amid global tech sell-offs and Middle East tensions. The STI fell sharply as investors reacted to semiconductor fears and AI bubble concerns, mirroring significant drops seen across major Asian markets.