Commentary

According to flash estimates, Singapore's economy grew at a respectable rate of 2.1 percent in 2015, close to the official government estimate of 2 percent. While this is a reasonable achievement, it is much lower than the 2014 figure of 2.9 percent.

According to 2014 data, the goods trade relation between Singapore and the USA stands at US$30.2 billion for the exports to Singapore and US$16.4 billion for the imports from Singapore, basically in line with data for the past five years from 2010 onward.

I guess you have heard about it. The various news reports about banks axing their employees, a sluggish stock market worldwide, or a slow property market in 2016. By connecting the dots together, it may seem like we are facing a potential downbeat economy in Singapore and perhaps worldwide. So, how can our businesses sustain or be profitable in the face of an incoming downbeat economy?

Singapore’s rising status as a hub for multinationals’ regional headquarters is set to create a substantial number of new jobs for human resources professionals.

On 31 December, ten Asean member-states gave birth to a common market, the Asean Economic Community (AEC), a boost to Southeast Asia's combined economic clout as the world's seventh largest economy. AEC has an estimated economic value of US$2.5 trillion annually, powered by a fast-growing market of more than 600 million people.

Last November I wrote that Foreign Account Tax Compliance Act (FATCA) was just the beginning. For those who are unfamiliar, FATCA was enacted by the United States Congress back in 2010 to encourage tax compliance by US persons using non-US financial accounts. The stated purpose of the law was "to clamp down on tax evasion and improve taxpayer compliance by giving the IRS new administrative tools to detect, deter, and discourage offshore tax abuses."

Two new statutory boards, SkillsFuture Singapore (SSG) will be established and overseen by the Ministry of Education while Workforce Singapore (currently WDA) will be overseen by the Ministry of Manpower. The overarching objective is to help Singaporeans continually possess relevant skills to find the jobs they want.

Imagine a bored Michaelangelo creating the heart-wrenching Pieta, one of the greatest sculptures in the world. Or a disengaged Leonardo Da Vinci painting the enigmatic Mona Lisa. How about a Brunelleschi who only cared about getting a pay cheque at the end of the month erecting the eternal duomo in Florence? Would all these feats, all examples of mastery and innovation, have been possible if their creators were disengaged and unhappy with their work?

The Malaysian property market has traditionally been a hotspot for Singaporean property investors. Its proximity to Singapore made it attractive for a multitude of reasons, from family connections, to short travel times, to owning a property as a holiday or retirement home.

I have just finished reading the excellent biography on Elon Musk by Ashlee Vance,Tesla, SpaceX, and the quest for a Fantastic Future, which as an entrepreneur in Singapore is absolutely inspiring. The book I read before that was the Steve Jobs biography by Walter Isaacson. I can't find as critically acclaimed book as the aforementioned on Bill Gates to complete my reading of the dynamic trio though.

Many Singaporeans, including myself, had been waiting fervently for 2016. Because this is the year SkillsFuture credits would kick in.

The sluggish global commodities market is giving Singapore a competitive edge as it enables multinational companies with a foothold in the city-state to scout for acquisition targets. This will fuel recruitment activity and will be one of the top recruitment trends for 2016.

In a recent article on Singapore Business Review, it was reported that the employment outlook hit a six-year low for Quarter 1 2016. The employment outlook has fallen for the fourth straight quarter and prospects in some industries look bleak.

It's early morning on a Thursday when the secretary of the CEO of a well respected Singapore-based company gets a phone call from her boss. He's at the airport, on his way to speak at a high-profile conference in Hong Kong. The CEO tells his secretary something urgent has come up -- an important invoice needs to be paid without delay, there might even be legal implications if this isn't done ASAP. He was meaning to get to it last night, but he was at his daughter's school play. She was a unicorn, and was the star of the show. The CEO provides instructions and the account name and number. He expects this to be taken care of by close of business.

Before you know it, SG50 is almost ending and we are inching closer to 2016.

The recent financial rout in the commodity and currency market has resulted in volatility in the financial market. No longer are businesses whether large or small immune to the spillover effects of external influences on domestic businesses operation.