Singapore’s Economic Reopening Is Failing to Lift Its Equities

Apple Inc. Opens New Store at Marina Bay Sands

Photographer: Bryan van der Beek/Bloomberg

Singapore’s emergence from the Covid-19 shock is gathering pace, but that isn’t boosting the nation’s equity benchmark.

That’s because the gauge is very much a bet on the global recovery rather than a wager on the city-state. The Straits Times Index is still 21% away from turning positive for the year, among the worst in Asia. Singapore’s plan to give a roadmap to the final phase of reopening and the ongoing decline in active virus cases has so far had limited impact on nation’s equities.

Thanks to Singapore’s deep integration with global trade and supply chains, half of the benchmark members’ revenues is from outside the island nation, according to data from Singapore Exchange Ltd. The International Monetary Fund forecast a 4.4% global contraction for this year, the deepest since the Great Depression, but less than its prior estimate of

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Singapore’s World-first Face Scan Plan Sparks Privacy Fears

Singapore will become the world’s first country to use facial verification in its national ID scheme, but privacy advocates are alarmed by what they say is an intrusive system vulnerable to abuse.

From next year, millions of people living in the city-state will be able to access government agencies, banking services and other amenities with a quick face scan.

This biometric check will do away with the need to remember a password or security dongle when performing many everyday tasks, its creators say.

It is part of the financial hub’s drive to harness technology, from ramping up the use of electronic payments to research on driverless transport.

Singapore will become the world's first country to use facial verification in its national ID scheme Singapore will become the world’s first country to use facial verification in its national ID scheme Photo: AFP / MARTIN ABBUGAO

“We want to be innovative in applying technology for the benefit of our citizens and businesses,” Kwok Quek Sin, who works on

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