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Singapore MAS Core Inflation 1.7% in March 2026

The Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) reported that MAS Core Inflation rose to 1.7% year-on-year in March 2026, up from 1.4% in February 2026, driven by increased retail and other goods and services inflation. On a month-on-month basis, core prices edged up by 0.1% in March. CPI-All Items inflation also picked up to 1.8% year-on-year from 1.2% in February, due to higher private transport and core inflation components.

Canada Initiates Expiry Review of Anti-Dumping Finding on Concrete Reinforcing Bar

On April 20, 2026, the Canadian International Trade Tribunal (CITT) initiated an expiry review of its June 4, 2021 finding concerning the dumping of certain concrete reinforcing bar from Algeria, Egypt, Indonesia, Italy, Malaysia, Singapore, and Vietnam, pursuant to subsection 76.03(1) of the Special Import Measures Act (SIMA). The Canada Border Services Agency (CBSA) has now initiated a parallel expiry review investigation to determine whether the expiry of the finding is likely to result in continuation or resumption of dumping of the subject goods. Canadian producers, importers, and exporters of the subject goods must respond to CBSA questionnaires by May 28, 2026, filed through the ACE e-filing application. CBSA will issue its determination no later than September 17, 2026 and a Statement of Reasons by October 2, 2026. Any party who has not received a questionnaire letter should contact the CBSA SIMA Registry and Disclosure Unit.

Singapore: Türk Alarmed by Increase in Drug-Related Executions, Calls for Moratorium

UN High Commissioner for Human Rights Volker Türk expressed alarm at the continuing spike in executions for drug-related offences in Singapore, calling for an immediate moratorium. In the first months of 2026, eight people have been executed for drug-related offences. Of the 25 executions carried out in 2023 and 2024, 24 were reportedly for drug-related offences. Türk stated that drug-related offences not involving loss of life do not meet the "most serious crimes" standard set by international human rights law and reiterated his plea to Singapore and all other States still carrying out executions to impose a moratorium.

Road Traffic (Singapore Yachting Festival 2026 — Exemption) Order 2026

The Road Traffic (Singapore Yachting Festival 2026 — Exemption) Order 2026 exempts designated chauffeured private hire cars operated by RedAce Limo (UEN 53395806K) from sections 101, 106 and 107 of the Road Traffic Act 1961 and Parts II and VI of the Road Traffic (Public Service Vehicles) Rules for the period 22–27 April 2026. To qualify, vehicles must display a Registrar-issued label, be used only by the exempt sole proprietor or persons under their direction, and maintain valid insurance covering third-party death, bodily injury, and property damage while on any road.

Written Reply on Pre-Emptive Monetary Policy Adjustments for Energy Cost Inflation

Mr Fadli Fawzi (Aljunied GRC) asked whether the Monetary Authority of Singapore plans to make pre-emptive adjustments to its monetary policy to curb inflation driven by higher energy costs. Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, who chairs MAS, replied that the Authority is currently assessing its monetary policy stance and will release its upcoming Monetary Policy Statement as scheduled on 14 April 2026, with an updated inflation outlook for 2026.

EU Official Journal C Series: Parliament Resolutions and Legislative Acts, 13 November 2025

The Official Journal C Series dated 22 April 2026 publishes European Parliament resolutions and legislative acts from 13 November 2025 covering diverse policy domains. Key items include the Business in Europe: Framework for Income Taxation (BEFIT) directive, EU-Singapore Digital Trade Agreement, corporate sustainability reporting amendments, climate neutrality framework amendments, and two European Commission non-oppositions to concentrations (VIG/NÜRNBERGER and BIOMARIN PHARMACEUTICAL/AMICUS THERAPEUTICS). The publication also includes resolutions on gender equality strategy, transnational repression of human rights defenders, and maritime safety agency regulation.

Team ASSURE Wins NUS-SYNAPXE-IMDA AI Innovation Challenge 2026

Team ASSURE from the NUS Master of Science in Business Analytics programme won the $10,000 top prize at the NUS-SYNAPXE-IMDA AI Innovation Challenge 2026 for AssureCare Suite, an AI-enabled home monitoring platform for elderly heart patients. The platform features AssureBot, a voice-enabled AI companion that conducts daily check-ins and captures symptom updates through natural speech, complemented by a Caregiver Portal offering patient status views and escalation alerts. The 12th annual Challenge attracted 880 students from 18 institutes across Singapore, forming 181 teams to develop AI-powered solutions for chronic conditions affecting approximately 1.8 million people in Singapore.

Guo Shuqing Keynote on China FinTech Developments and Regulatory Lessons at Singapore FinTech Festival

Guo Shuqing, Chairman of CBIRC and Secretary of CPC PBC Committee, delivered a keynote at Singapore FinTech Festival 2020 covering China's FinTech developments, regulatory lessons, and future challenges. He reviewed four regulatory cases: P2P platforms (over 10,000 platforms total, all closed by mid-November 2020), third-party payment platforms requiring reserve fund deposits with the central bank, internet financial companies inducing overspending, and data privacy violations by tech companies. Guo outlined five future issues requiring attention: cyber security (over 90% of banking transactions now online), fair market competition regarding BigTech dominance, 'too big to fail' concerns, data ownership clarification, and international coordination for cross-border data flow.

Singapore and South America Reaffirm Bilateral Ties, Advance Carbon Credits and Agri-food Collaboration

Minister for Sustainability and the Environment Grace Fu concluded a ten-day official visit to South America covering Peru, Paraguay, and Chile from 13 to 22 April 2026. The visit reaffirmed bilateral ties and advanced collaboration on carbon credits and agri-food trade between Singapore and the three South American nations. A joint press release was issued by the Ministry of Trade and Industry and the Ministry of Sustainability and the Environment.

Singapore DPM Gan Keynote: Trade, AI, Energy Risks at CNBC Converge Live 2026

Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong delivered a keynote address at CNBC ConVERGE LIVE 2026 on April 22, discussing three forces reshaping the global economic landscape: trade fragmentation, rapid AI advancement, and the dual imperative of energy decarbonisation and security. He outlined Singapore's three strategic priorities for the next phase of growth: maintaining openness and connectivity across markets, scaling AI deployment in key sectors through AI Missions in advanced manufacturing, connectivity, financial services, and healthcare, and positioning early in the energy transition. The address noted that the Strait of Hormuz disruption has affected roughly a fifth of global oil flows, underscoring the immediacy of geopolitical supply chain risks.

APEC Conference on Tobacco Control Addresses Emerging Products

The Health Promotion Administration of Taiwan's Ministry of Health and Welfare convened an international tobacco control conference in Taipei on March 25, 2026, bringing together 11 APEC economies including Australia, Canada, Japan, Korea, Singapore, the United States, and others. The conference addressed regulatory frameworks for emerging tobacco and nicotine products such as e-cigarettes, heated tobacco products, and nicotine pouches, while exploring innovative smoking cessation services and integrated care models. Taiwan highlighted its amended Tobacco Hazards Prevention Act (2023 amendment strengthening regulation of new nicotine products) and ongoing enforcement collaboration with local health bureaus.

Plant-Based Diet CKD Feasibility Study, Changi General Hospital, Singapore

A two-year follow-up, single-center, open-label feasibility study will recruit outpatients from the Renal Medicine Clinic at Changi General Hospital, Singapore. Eligible patients with Stage 3 or 4 chronic kidney disease will be assigned to either a predominantly plant-based diet intervention (at least 50% protein from plant sources) with regular dietitian counselling, or a control group receiving standard CKD dietary advice. Six monthly assessments will measure eGFR, serum potassium, nutritional markers, and quality of life outcomes through questionnaires and food frequency records. The study aims to evaluate feasibility, safety regarding hyperkalaemia incidence, and potential benefit in terms of acidosis improvement in the Singaporean context.

Tobacco (Control of Advertisements and Sale) (TFWA Asia Pacific 2026) (Exemption) Order 2026

The Minister for Health, Singapore has issued the Tobacco (Control of Advertisements and Sale) (Tax Free World Association Asia Pacific Exhibition and Conference 2026) (Exemption) Order 2026 (S 231/2026), effective 20 April 2026. The Order grants narrow, conditional exemptions from Sections 3, 12A, 17(1), and 18(1) of the Tobacco (Control of Advertisements and Sale) Act 1993 to exhibitors and organisers participating in the TFWA Asia Pacific Exhibition and Conference 2026, held at Sands Expo and Convention Centre, Marina Bay Sands, from 11 to 14 May 2026. Exemptions cover online and mobile exhibition directories (accessible 21 April 2026 to 31 December 2027), in-venue advertising within allocated booths, product display, and import and free-sample distribution of tobacco products to registered trade visitors, subject to conditions including prior Authority approval, restriction to permitted tobacco products, and access controls limiting the directories to exhibitors, organisers, registered trade visitors, and association members only.

Income Tax (Singapore — Republic of Kenya) (Avoidance of Double Taxation Agreement) Order 2026

The Minister for Finance has issued Order S 229/2026 under Section 49 of the Income Tax Act 1947, giving effect to a Double Taxation Agreement (DTA) signed on 23 September 2024 between Singapore and Kenya, as modified by a Protocol of the same date. The Order declares that the arrangements specified in the Schedule shall have effect in Singapore despite anything in any written law, providing relief from double taxation for income arising in either jurisdiction. The Order was made on 8 April 2026 and published on 20 April 2026 in the Subsidiary Legislation Supplement.

Thailand Emergency Decree on Top-up Tax B.E. 2567 Takes Effect January 2025

Thailand's Emergency Decree on Top-up Tax, B.E. 2567 (2024), was promulgated in the Royal Gazette on 26 December 2024 and takes effect for accounting periods commencing on or after 1 January 2025. The decree applies to large MNEs with consolidated financial statement revenues of at least €750 million and establishes a globally-aligned minimum tax floor in line with the OECD Pillar Two framework. The Revenue Department will propose secondary legislation and implement electronic systems for GloBE Information Return submissions. By 2024, 28 countries including Vietnam, Germany, France, and the UK have enacted similar laws, with Malaysia, Singapore, Indonesia, and Hong Kong expected to follow in 2025.

Foreign National Emblems (Control of Display) (Singapore Maritime Week 2026 — Exemption) Order 2026

The Ministry of Home Affairs, Singapore has issued an exemption order under the Foreign National Emblems (Control of Display) Act 1949, temporarily permitting the display of five specified national flags at Suntec Singapore Convention and Exhibition Centre. The exemption applies to flags of France, India, Norway, Republic of Korea, and the United States of America, but only during Singapore Maritime Week 2026 from 21 April to 23 April 2026, and only where the display is in connection with that event. The order was made on 14 April 2026.

Securities and Futures (Amendment) Bill 2026 — Dual Listing Framework

The Securities and Futures (Amendment) Bill 2026 was moved for First Reading in Parliament on 7 April 2026, introducing a new Part 13A to the Securities and Futures Act 2001. The Bill empowers MAS to prescribe overseas exchanges (such as Nasdaq) and dual-listing boards set up with SGX (such as the Global Listing Board with Nasdaq) and to make regulations harmonising Singapore's offer-related and market misconduct provisions with those of the foreign jurisdiction. A parallel amendment enables issuers to disseminate preliminary prospectuses to retail investors earlier in the offering process, subject to safeguards including a prohibition on making official offers before final prospectus lodgement.

Critical Vulnerability in protobuf.js Requires Immediate Update

The Cyber Security Agency of Singapore has issued an urgent advisory alerting users to a critical code-execution vulnerability (CVE-2026-41242) in protobuf.js, a widely used JavaScript implementation of Google's Protocol Buffers. The flaw allows an attacker to inject arbitrary code by supplying a malicious protobuf schema in type fields, exploiting the Function() constructor. Successful exploitation grants access to environment variables, credentials, databases, internal systems, and enables lateral movement within infrastructure. Affected versions are protobuf.js prior to 8.0.1 and prior to 7.5.5. Users and administrators are advised to update to the latest versions immediately.

Welcome Speech at 80th Anniversary of National Blood Programme

Adj Prof (Dr) Raymond Chua, CEO of Singapore's Health Sciences Authority, delivered a welcome speech at the 80th Anniversary of the National Blood Programme on April 15, 2026. The speech expressed gratitude to donors, volunteers, partners, and the Singapore Red Cross for sustaining the nation's blood supply over eight decades. It highlighted key milestones including WHO's 1992 designation of Singapore as a Collaborating Centre for Transfusion Medicine and the February 2026 rollout of an RFID-enabled Next-Gen Blood Supply Management System connecting all public and private hospitals to HSA in real-time.

RBI Releases Financial Data for 3,100 FDI Companies in India 2024-25

The Reserve Bank of India released financial performance data for 3,100 non-government non-financial (NGNF) foreign direct investment (FDI) companies in India for 2024-25, covering three accounting years from 2022-23 to 2024-25. The sample companies reported paid-up capital of ₹5,96,425 crore, representing 51.9 per cent of total PUC of FDI companies in the annual census. Net sales growth moderated to 8.7 per cent from 9.4 per cent the prior year, while operating profit growth slowed to 10.7 per cent from 22.1 per cent. Interest coverage ratio improved to 5.8, and companies from Singapore, USA, and Mauritius accounted for over half of the sample.

Singapore HSA, Japan MHLW Sign GMP Inspection Reliance MOC

HSA Singapore and Japan's Ministry of Health, Labour and Welfare signed a Memorandum of Cooperation on 20 April 2026 in Tokyo, establishing GMP inspection reliance arrangements for pharmaceutical manufacturers in both countries. The agreement is expected to remove an average of three duplicative inspections per year and may help patients access safe medicines faster. The MOC covers the full product lifecycle from clinical trials through post-market oversight.

Operational Test Cash Management Treasury Bills Issued 23 April

The Monetary Authority of Singapore (MAS) published an operational test issuance notice for Cash Management Treasury Bills BA26100V on 21 April 2026. The physical issuance and settlement of these test bills is scheduled for 23 April 2026. This is an administrative readiness exercise and does not establish new regulatory obligations.

Bank of Singapore Fraudulent Social Media Account Scam Alert

The HKMA issued a scam alert on 10 April 2026 warning the public that a fraudulent social media account has been reported in connection with Bank of Singapore Limited. The alert reminds consumers that banks will not send SMS or emails with embedded hyperlinks directing customers to carry out transactions, nor will they request sensitive information such as login passwords or one-time passwords by phone, email, or SMS. Individuals who may have provided personal information or conducted financial transactions through the fraudulent account are advised to contact the relevant bank and report the matter to the Hong Kong Police Force Crime Wing Information Centre at 2860 5012.

MAS Q1 2026 Enforcement Actions: Prohibition Orders and Money Laundering Operations

MAS published key enforcement actions taken in Q1 2026, comprising three distinct matters: a 7-year prohibition order against Mr Sun Weiyeh for investor fraud at One Asia Investment Partners; a joint MAS-Police operation against Capital Asia Investments Pte Ltd for suspected money laundering and failure to comply with capital markets services obligations; and a 16-year prohibition order against Mr Wang Qiming and 7-year order against Mr Liu Kai for conduct linked to the August 2023 major money laundering case. MAS states it considers deterrence and safeguarding Singapore's financial-centre integrity in selecting enforcement responses.

Daren Tang Reappointed WIPO Director General for Second Six-Year Term

WIPO Member States appointed Daren Tang, a Singaporean national, to a second six-year term as Director General of the World Intellectual Property Organization. The appointment, made by WIPO's General Assembly, follows his nomination by the WIPO Coordination Committee in February. His second term runs from October 1, 2026 through September 30, 2032. Tang is the fifth Director General of WIPO, succeeding Francis Gurry of Australia.

CCS Consults on the Proposed Acquisition of Certain Assets by Zuellig Pharma Holdings Pte. Limited

The Competition and Consumer Commission of Singapore (CCCS) has opened a public consultation on Zuellig Pharma Holdings Pte. Limited's proposed acquisition of certain assets from Eli Lilly and Company, specifically the rights to manufacture, register, commercially use, distribute and exploit Cialis (Tadalafil) for human use in Singapore. The consultation closes on 16 April 2026 at 5 p.m. CCS accepted the application on 27 March 2026 and is assessing whether the transaction may result in a substantial lessening of competition within any market in Singapore.

Written Reply on Private Credit Risk Exposure of Singapore Financial Institutions

The Monetary Authority of Singapore (MAS) has responded to a parliamentary question from Mr Kenneth Tiong Boon Kiat regarding Singapore financial institutions' exposure to US private credit, following reports that US private credit defaults reached 9.2% in 2025 and international regulators initiated supervisory reviews. MAS confirms that Singapore financial institutions have "very small exposure" to private credit, and states it regularly monitors risk exposures and engages institutions on stress testing featuring global financial stress scenarios. No new regulatory obligations or supervisory requirements emerge from this parliamentary reply.

Goldman Sachs Singapore Penalized for 1MDB Bond Offerings

Singaporean authorities (AGC, CAD, MAS) have taken action against Goldman Sachs (Singapore) Pte. (GSSP) for its role in the 1MDB bond offerings. GSSP will pay US$122 million to the Singapore Government and US$61 million to Malaysian authorities, totaling US$183 million.

FAQs on Recognition for Recognised Market Operators that are Formed or Incorporated in Singapore

The Monetary Authority of Singapore (MAS) published FAQs clarifying admission standards and requirements for recognised market operators (RMOs) formed or incorporated in Singapore. The document addresses general standards for appointments of shareholders, directors, and key persons, alongside internal governance and control function arrangements. The FAQs relate to licensing and authorisation requirements for markets and exchanges under MAS regulation.

Alsen Chance Holdings Ltd v SCB - Non-Party Standing in Cross-Border Winding Up

The Singapore High Court ruled in four consolidated winding-up applications (HC/CWU 453, 454, 456, 457 of 2025) that non-parties SCB, BSI Bank, and Mr Hans Peter Brunner lack standing to participate in winding-up proceedings brought by BVI-domiciled companies. The applicants sought to pursue avoidance claims under IRDA sections 238 and 239 against the banks following the dismissal of their Model Law applications. The ruling clarifies procedural standing requirements for banks and potential contingent creditors in cross-border insolvency proceedings in Singapore.

Cross-Border Insolvency Standing Under UNCITRAL Model Law Art 23(9)

The Singapore Court of Appeal dismissed two consolidated appeals (CA 43 and CA 44 of 2025) by foreign liquidators of Blackstone Asia Real Estate Partners Ltd and Brazen Sky Ltd seeking standing to bring fraudulent and wrongful trading claims under Singapore's UNCITRAL Model Law (incorporated via the Insolvency, Restructuring and Dissolution Act 2018). The court upheld the High Court's interpretation that Article 23(9) of the SG Model Law bars foreign representatives from obtaining standing to bring statutory claims under Article 23(1) in respect of transactions that occurred before the Model Law's coming into force in Singapore, rejecting the argument that Article 21(1)'s general discretionary relief provision could be used to circumvent this temporal restriction. The appeals relate to alleged misappropriation from 1MDB and SRC Malaysia laundered through company accounts held at Standard Chartered Bank and BSI Bank.