Choose your location to get a site experience tailored for you. These events have had significant implications, but it is likely that they will pale in comparison with the effects of the sulfur regulations that have been adopted by the International Maritime Organization IMO: This disruption may extend through or even longer, as most industry players delay making the investments needed to reignite demand for HSFO and normalize prices.
Business culture in Singapore Business culture in Singapore Singapore is a multiethnic society comprising of Chinese, Malay, Indian and Eurasian communities. In most cases, you will encounter Singaporean Chinese as your business counterparts as they form the majority of the population.
Singaporeans are generally open and cosmopolitan in their outlook. They are not likely to take offence if you commit a social faux pas, especially when they understand that you come from a different culture. As a general rule avoid discussions about topics like religion, racial issues and politics.
A few tips to consider will be provided in the following. Language English is the working language while the official languages are Chinese, Malay and Tamil. There is a local vernacular, Singlish, which is essentially English generously peppered with local slang and dialects.
Business entertainment When entertaining Malay associates who are Muslim avoid conducting business on Fridays or during the Ramadan the Muslim fasting month. Never serve alcohol or pork. Most Indians do not eat beef as well.
The inviting party of a business social event usually picks up the bill. The other party can reciprocate next time around. Power meals Business breakfasts are rare in Singapore.
Lunch is the preferred meal for business discussions. Spouses are rarely, if ever, invited to these power meals. As long lunches are not uncommon in Singapore it may be wise to avoid scheduling meetings between noon and 2pm.
Punctuality Singaporeans are normally punctual for their appointments and expects the same with others. Call them if you are unexpectedly late. Business gifts Gift giving is a common way of expressing thanks.
Many Western executives believe that, for instance, cost leadership and differentiation, globalization and localization, and size and agility are fundamentally contradictory and can’t be reconciled. Data and statistics about Singapore/ - Discover the most popular statistics about Singapore/ on Statista! Aug 02, · Singapore prime minister makes security argument for Pacific trade pact. Singapore's prime minister urges Congress to approve a Pacific trade deal.
Small business-related gifts such as a pen with the company logo would be sufficient. Gifts are typically wrapped, presented and received with two hands, and opened after the presenter leaves.
Gifts with connotation of severance or cutting, such as scissors, are not appropriate as they symbolize conflict. Letter-openers however are an exception. For the Chinese, the number 4 rhymes with the word for death meaning that it is important not to give anything in a set of four. For your Malay associates, avoid products made from pigskin and alcohol as these goods contravene the laws of Islam.
Etiquette There are important differences in doing business in Singapore and the following offers valuable considerations of etiquette when conducting business in Singapore.
The Malays do not use a family name. Business cards should be exchanged upon meetings and treated respectfully. Ideally, they should be given and received with both hands. Upon receiving a business card lay it in front of you on the table in accordance with the placement of the people you are having the meeting with.
Never write on the business card, put it casually in your back pocket or haphazardly stash it in a folder. Any of these actions can be misconstrued as disrespect. There is an emphasis on equality of the sexes in Singapore.SINGAPORE is second on Ernst & Young’s Globalisation Index , behind Hong Kong and pushing Ireland back down to third.
In the previous two years, Hong Kong and Ireland had clinched the top two spots on the index, which ranks the world’s 60 largest economies according to their degree of globalisation relative to their GDP.
Singapore's globalization strategy hinges on making a transformation from a production-driven economy to an innovation-driven one. Other key elements of this strategy are the reversal of downward trends in productivity, and sustaining foreign investment in Singapore's capital investment.
Singapore initiated the formation of a growth triangle. Globalization has become a worldwide agenda for national development, and efforts to build the capacity of students as future knowledge workers are apparent in many education reforms.
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The Singapore Economy Since independence in , the Singapore economy has experienced rapid economic development. Singapore's strong economic performance reflects the success of its open and outward-oriented development strategy.