Singapore’s iconic skyline — what lies ahead in 2026?Photographer: Bryan van der Beek/Bloomberg
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Welcome to 2026! This week, take a virtual stroll through our newsroom and hear how our journalists are mentally preparing for this year’s news cycle, be it financial crimes, markets, the weather, or Singapore’s role in the medical supply chain. Plus, Yongchang Chin observes an interesting F&B trend involving… alcohol.
Singapore always starts the new year with an economic report card, and yesterday’s GDP release showed pharmaceutical and electronic manufacturers powered the economy in the final three months of 2025, pushing full-year growth to the fastest since its rebound from the pandemic. But don’t get complacent (does Singapore ever?).
Prime Minister Lawrence Wong has warned of risks on the horizon as the impact, and continued unpredictability, of US President Donald Trump’s tariffs ripple through the global economy. It’s still unknown, as well, how Washington will tax semiconductors and pharmaceuticals, key exports for the city-state.
The government led by Wong’s People’s Action Party, which won a convincing election in May and has ruled Singapore since independence in 1965, is taking a long-term view of Trump’s disruption of the global order and has undertaken a review of its economic strategies. Watch for the results of that effort this year. — (Southeast Asia/ANZ Economy and Government lead).
Speaking of that manufacturing boost, Singapore has attracted a crop of pharmaceutical giants to set up factories for their blockbuster drugs recently, and some of these will start operations this year. We could see more plants announced. The city-state is emerging as a neutral production hub in a global drug supply chain caught in the US-China rivalry. That’s set to bolster Singapore’s role in supplying life-saving medicines for the rest of the world as US and Chinese factories prioritize drug manufacturing for their own patients.
Drivers navigate the Formula 1 Singapore Grand Prix 2022 race course.Photographer: Lauryn Ishak/Bloomberg
But this island’s not a one-trick pony. The countdown is on for Singapore’s next F1 race on Oct. 9-11. As one of the marquee events of the year, the sport will bring an influx of fans from around the world. And speaking of things with big engines, executives in the global aviation industry will descend on Changi Airport for the biennial Singapore Airshow (Feb. 3-8). Also in transport: three major bits of expansion of the Singapore MRT will come online in 2026, making the city more connected than ever. — (Asia Aviation and Transport reporter)
As a global financial and wealth center, Singapore attracts good and sometimes bad money. In 2026, scrutiny will likely intensify around the lingering fallout from the Chen Zhi-led Cambodia scammer ring, a sprawling network that exposed the vulnerabilities of regional financial systems and tainted powerful institutions.
For Singapore’s lenders moving into an AI future, the age-old concerns of scams are growing ever bigger and more complicated. The fundamental banking adage of knowing your customers remains as important as ever. Singapore has already passed a bill to cane scammers, among a series of measures that include allowing the police to control the bank accounts of individuals who they suspect to be scam targets and limit what transactions they can do. Is that enough as money swishes around the region?
With new CEOs helming Singapore’s biggest banks — DBS and OCBC, investors who have benefited from a surge in their share prices will be watching how the leaders navigate a complex business landscape. The banks’ booming wealth management franchises have been a jewel in their crowns. Their ability to take on the big boys such as UBS and HSBC, as well as the kind of wealth they attract, will be scrutinized.
When it comes to real-estate investors: Despite government curbs, local buyers and wealthy immigrants have fueled strong demand for new homes, supported by a sharp decline in interest rates. The buying frenzy has helped the market defy bearish predictions by some analysts, even if the boom is slowing.
Attention will also turn to the shifting currents of capital across the Asia-Pacific region, particularly the money flows linking Australia, Singapore, and other Southeast Asian nations. Sovereign wealth funds and the region’s ultra-rich will remain pivotal players, directing investments that shape infrastructure, technology, and development trajectories. — (Asia Finance, Investing & Wealth managing editor), (Asia Finance lead ex-China)
The city-state’s benchmark stock index rose 23% in 2025 to notch its best annual gain since 2009, riding on efforts by authorities to rejuvenate the trillion-dollar local equities market against the backdropof a global rally. Investors will be keeping an eye on the roll-out of funds from the central bank’s Equity Market Development Program, which has tapped asset managers to invest in publicly-listed Singapore firms. A clearer outlook for global interest rates will also be key, particularly as the Federal Reserve is expected to cut rates while some other major central banks hold or tighten, given the market’s heavy weighting toward banks and REITs.
The Singapore dollar outperformed most Asian currencies in 2025 despite the Monetary Authority of Singapore easing policy settings twice — partially on haven demand for the nation’s AAA-rated securities. Investors will be closely watching those GDP figures in 2026. Robust growth and rising core inflation would add to bets that the MAS could refrain from further policy easing in 2026. The MAS is scheduled to hold its next policy decision in January. — (Macro strategist), (Asia Equities senior reporter), (Asia Equities reporter)
High coffee prices are a global concern, but major producers Vietnam and Indonesia have said they remain largely on track with their 2026 production outlook despite experiencing extreme weather in recent months. Meanwhile, copper enjoyed an end-of-year rally and will stay in the spotlight as traders expect supply disruptions in major mining countries like Indonesia and market tightness ahead of potential US tariffs.
Robusta coffee beans during the cooling down process at the Tran-Q coffee factory in Dong Nai province, Vietnam, in 2024.Photographer: Maika Elan/Bloomberg
Singapore will become the world’s first country to impose a green fuel levy on air passengers, in a bid to cut emissions from the aviation industry. Going up to as much as S32) depending on the class and distance travelled, the sustainable aviation fuel levy will be applied on tickets sold from April 1 for flights departing Singapore from Oct. 1. The funds collected will go to the centralized purchase of sustainable aviation fuel — typically made from waste oils or agricultural feedstock — as Singapore looks to achieve a SAF adoption rate of 3% to 5% by 2030.
As for the bigger picture: Battered by above-average rainfall and flooding, especially in the last quarter, Southeast Asia will be bracing for more wet weather in 2026, brought on by a cooling of the Pacific Ocean, known as the La Niña phenomenon. Losses across the region are mounting; hundreds of people have died and at least $20 billion worth of damage has been caused to infrastructure, crops, and commerce.
Southeast Asia is set to miss its 2025 renewable energy target, and fossil fuels continue to dominate the power mix of the fast-growing, populous, and high-emitting region. Investors will be watching closely for any policy signals that could resuscitate a sputtering energy transition by cutting red tape and attracting investment. Or will governments fall in with the changing tide in climate politics and double down on coal and gas? — (Asia Energy & Commodities editor), (Asia ESG reporter)
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From the best spots for a business lunch to drinks with the boss, we sample the city’s eateries, bars and new experiences.
One of the biggest trends last year that shows no sign of slowing down is the low-alcohol lifestyle. From lower-proof libations to increasingly sophisticated mocktails, and even so-called fine water in high-end dining settings, the variety of socially acceptable alcohol-light or booze-free options has blossomed.
That’s all part of shifting consumer trends as people increasingly prioritize health — think run clubs, cold plunges and pickleball’s sudden popularity. Day parties too, like Ice Cream Sundays in Singapore, are gaining popularity as people shy away from late nights out and ruined sleep cycles. Tea houses, oft-touted for the health benefits of that beverage, are also having something of a renaissance here with a number — Inner Tea House, Yu Tea, and Golden Seed, to name a few — having opened last year.
Instead of the high of alcohol, people are now chasing the so-called runner’s high. They’re swapping Proseccos for protein shakes and giving up margaritas for marathons. Reasons are mixed, from everyday consumers just not wanting to deal with repeated hangovers and other ailments, to cost pressures stopping people from splurging on alcohol willy-nilly.
Still, alcohol as a class of beverage isn’t likely to die out entirely, especially in the business world. Traders and bankers still gather at watering holes to negotiate deals; brokers are still wining and dining their clients at nightclubs.
Even so, bars are changing. Take the much-vaunted cocktail bar, D.Bespoke, which opened in 2014. It now also operates in the day, as Quiet Corner, and serves coffee in an elegant kissaten setting — in homage to the traditional Japanese-style coffee house that first came about in the early 20th century. I’ve already had coffee there several times since Quiet Corner opened in early December.
The vibe. Quiet Corner’s dark wood decor, soft leather chairs, and smooth jazz emanating from the vinyl record player gives off a very plush ambiance. It’s got about 5,000 vinyl records of genres including jazz, ambient and folk music. It’s a place for quiet conversation rather than boisterous banter. Were it not for the Singaporean accents, you could very well imagine yourself being in Tokyo.
The name of the place comes from owner Daiki Kanetaka’s favorite album, Quiet Corner, by singer-songwriter Jeff Harrington, he tells me. He also owns sister brand RPM by D.Bespoke, a bar, and its corresponding cafe offering in the day, Corner Corner, at Duxton Road.
A cup of nel drip style coffee, made using their Ambient Blend beans, served at Quiet Corner.Photographer: Yongchang Chin/Bloomberg
Can you conduct a meeting here? Absolutely. The place is quiet enough for conversation, and the seats are well-enough spaced for you to feel comfortable. Most of the seats are along the bar, which dominates the space, but there are bigger tables with sofa seating for larger groups.
What about a romantic date? The posh ambiance is ideal for a suave sit-down if you’re trying to impress someone. The location transforms into a bar, D.Bespoke, in the evening hours which serves amazing bespoke cocktails which would be perfect for slow post-dinner drinks. Custom concoctions are possible, as are the full range of classic cocktails.
What we’d order again. The menu at Quiet Corner is tight but every item is done well. They have two types of black coffee, a siphon style Jazz Blend which is more chocolatey, as well as a fruitier nel drip style Ambient Blend to choose from (S10 iced). Both are low on the acidity front and are exceedingly smooth to drink. It also has teas, like sencha and hojicha, as well as a very well-made matcha latte (S$11, iced only) that’s rich and packed with grassy umami without being cloying.
They have desserts too, to pair with your coffee, with a standout one being the classic kissa pudding — a creamy caramel flan. Alcohol is also served if you wish, including some coffee cocktails, but if you know what specific spirit you have a hankering for, you can just request it. A friend asked for some Japanese whiskys and amaros when we went around Christmas, and they delivered.
Need to know. Located at 2 Bukit Pasoh Road, Quiet Corner is open from 1 p.m. to 5 p.m. from Mondays to Saturdays. Reservations are encouraged before visiting via the number on their website. D.Bespoke, in the same premises, is open also on the same days, but from 6 p.m. onward. —
Have a place you’d like us to review or feedback to share? Get in touch at sgedition@bloomberg.net.
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