Industry News

UOB’s latest Quarterly Global Outlook for Q1 2026 highlights a promising start for ASEAN economies, despite global uncertainties. The report notes that ASEAN countries are benefiting from a realignment of supply chains, boosting intra-regional trade and exports. This trend is particularly evident in sectors linked to artificial intelligence and electronics, with Malaysia and Singapore showing significant export growth.

The report underscores the strength of ASEAN currencies, which have performed well against the US dollar. This currency resilience is attributed to strong export performance and a global trend towards de-dollarisation. The People’s Bank of China’s efforts to stabilise the Renminbi have also contributed to this stability, allowing ASEAN central banks like the Monetary Authority of Singapore to maintain a cautious approach to monetary policy.

Inflation across the region remains benign, with most ASEAN economies experiencing stable price levels. This is partly due to strong regional currencies enhancing purchasing power and the influx of competitively priced goods from China. UOB anticipates ASEAN’s real GDP growth to stabilise at an average of 4.6% in the medium term, supported by continued foreign direct investment inflows, which grew by 10.2% year-on-year in the first half of 2025.

Looking ahead, UOB maintains a positive outlook for ASEAN, projecting nominal foreign direct investment inflows to reach $370b by 2030 and $560b by 2035. This growth is expected to be driven by ongoing trade and investment opportunities within the region.

eSignGlobal, a prominent provider of electronic signature and digital contract services, has announced a strategic partnership with Lion-OCBC Capital Asia, a private equity fund under OCBC Bank. This collaboration, revealed during the 18th Singapore-Zhejiang Economic and Trade Council meeting, aims to establish a cross-border digital trust ecosystem linking China and Southeast Asia. The partnership signifies eSignGlobal’s strategic backing from a leading financial institution, integrating technology and capital to foster regional digital trust.

The agreement will see eSignGlobal setting up its Southeast Asian headquarters in Singapore, leveraging Lion-OCBC Capital Asia’s extensive financial network to expand into key ASEAN economies. The company plans to enhance its services for Chinese enterprises by collaborating with local service providers like FOZL Group, integrating digital signing into corporate registration and compliance processes.

A significant development in this partnership is eSignGlobal’s integration with Singpass, Singapore’s National Digital Identity platform. This integration allows users to sign electronic contracts by scanning a QR code with the Singpass app, addressing cross-border trade challenges such as identity verification and contract turnaround times. This initiative complies with Singapore’s Electronic Transactions Act, reinforcing digital trust between China and Singapore.

Sim Ann, Singapore’s Senior Minister of State for Foreign Affairs and National Development, endorsed eSignGlobal’s technological advancements, highlighting the potential for expanded digital cooperation. Jin Hongzhou, CEO of eSignGlobal, emphasised the company’s commitment to building a secure digital business infrastructure, aiming to enable a quarter of the global population to use eSignGlobal for contract signing.

Ascentium, a global business services platform, has announced a strategic partnership with Standard Chartered to streamline cross-border expansion for businesses across the Asia-Pacific (APAC) region. The partnership, formalised through a Memorandum of Understanding, will initially launch in Hong Kong, offering a fast-track banking service to help Ascentium clients open accounts swiftly and commence operations without delays.

The collaboration is set to extend beyond Hong Kong, with plans to introduce the model to other APAC markets soon. This initiative will provide businesses with direct access to Standard Chartered’s referral network in key markets, including Singapore, Mainland China, Malaysia, Vietnam, and India. By merging banking efficiency with Ascentium’s corporate services expertise, the partnership positions Ascentium as a comprehensive growth platform for businesses aiming to scale internationally.

Wendy Wang, Founding Management and Group President of Ascentium, stated, “This partnership reflects a shared mission to make expansion simpler, faster, and more human. By bringing together leaders in banking and corporate services, we’ve created a powerhouse that gives businesses clarity and confidence from day one.”

The partnership also includes joint marketing initiatives and co-hosted events in markets like Vietnam and Mainland China, which are already underway. Ascentium will join Standard Chartered’s Global Chinese Services network, enhancing connections with Chinese corporates and supporting businesses with global ambitions.

Xie Wen, Global Head of SME Banking at Standard Chartered, commented, “Our partnership with Ascentium allows us to offer our clients a smoother, end-to-end experience, from account opening to cross-border expansion, helping businesses scale with confidence.”

This strategic alliance marks a significant step in facilitating business growth across the APAC region, with future expansions anticipated to further bolster the partnership’s impact.

FedEx has unveiled its Global Economic Impact Report for the fiscal year 2025, showcasing a substantial $5.7b contribution to the Asia Pacific (APAC) economy. The report, developed with Dun & Bradstreet, highlights FedEx’s role in enhancing connectivity and innovation across the region, which is increasingly pivotal in global trade.

Operating in APAC for over 40 years, FedEx employs tens of thousands across 43 markets, linking them to the global economy. In FY25, the company indirectly contributed $1.6b to the region, with significant investments in the Transportation, Storage, and Communications sector, and the Manufacturing sector. Salil Chari, senior vice president of marketing and customer experience at FedEx Asia Pacific, noted, “Asia Pacific is one of the most dynamic and diverse markets in the world… Our customers span small e-commerce entrepreneurs to global manufacturers.”

Key developments in the report include new flight routes, such as a direct round-trip between Singapore and the US, and a new route connecting Guangzhou, Bangalore, UAE, Liège, and Paris. FedEx also opened new facilities in Bali and Thailand’s Eastern Economic Corridor to meet rising demand. The company spent $1.9b with suppliers in APAC, with 88% being small enterprises, underscoring its commitment to local entrepreneurship.

FedEx’s sustainability initiatives include adopting electric vehicles in multiple APAC markets and installing solar panels at its South Pacific Regional Hub in Singapore. These efforts are part of FedEx’s broader goal to achieve carbon-neutral operations by 2040. The report underscores FedEx’s ongoing investment in the region, aiming to make supply chains smarter, faster, and more sustainable.

A recent survey by UnaFinancial highlights a significant rise in year-end spending across Southeast Asia, with 79% of consumers increasing their festive expenses. The survey, which included 400 participants from Singapore, the Philippines, Vietnam, and Indonesia, also found that 46% plan to use digital loans for holiday celebrations. Travel emerges as the primary spending driver, particularly in Singapore and Indonesia.

In Singapore, 69% of consumers reported increased spending, primarily on travel, which accounts for 48% of their expenses. Despite this, only 27% of Singaporeans plan to borrow online, reflecting their conservative borrowing habits and access to traditional credit. Meanwhile, in the Philippines, 73% of respondents spend more during the festive season, with gifts and celebrations leading the way. Here, 45% intend to take digital loans, mainly for holiday trips and gifts.

Vietnamese consumers show the highest increase in festive spending, with 88% spending more, driven largely by shopping. In contrast, Indonesians focus on travel, with 84% increasing their spending and 51% planning to use digital loans for holiday expenses.

UnaFinancial analysts note, “Travel leads spending regionally—especially in Singapore and Indonesia. Vietnam’s booming e-commerce system pushes shopping to the forefront, whilst the Philippines’ family-centred traditions make gifts and celebrations the main driver of higher spending.”

The survey underscores a growing trend towards digital non-bank financing in Southeast Asia, with nearly half of the consumers open to this option, indicating a demand for fast and convenient access to funds.

Rockwell Automation, the global leader in industrial automation and digital transformation, has been awarded the 2025 Great Place To Work certification across the Asia Pacific region. This accolade is based entirely on employee feedback, with 80% of Rockwell Automation’s workforce affirming it as a great place to work. The certification spans multiple countries, including Australia, New Zealand, China, India, Japan, South Korea, and several Southeast Asian nations.

The certification recognises organisations that foster environments where employees feel trusted and supported. Evelyn Kwek, Managing Director of Great Place To Work ASEAN and ANZ, noted, “Over three decades of research and millions of employee voices collected in our data have shown that when that trust is strong, businesses grow in ways that lift people, communities, and entire economies.”

Scott Wooldridge, President of Rockwell Automation Asia Pacific, expressed pride in the recognition, stating, “This recognition across Asia Pacific is a proud moment for Rockwell Automation. It reflects our commitment to a culture of trust, inclusion, and innovation.”

Great Place To Work is a global authority on workplace culture, and its certification is a benchmark for outstanding employee experience. Research indicates that employees at certified workplaces are significantly more likely to enjoy their work environment and feel fairly compensated.

Rockwell Automation, headquartered in Milwaukee, Wisconsin, employs approximately 26,000 individuals worldwide. The company continues to connect human imagination with technology to enhance productivity and sustainability globally.

As 2026 approaches, the retail landscape in Asia is set for significant transformation, driven by advancements in artificial intelligence (AI) and the modernisation of technological systems. Genevieve Broadhead, Global Lead for Retail Solutions at MongoDB, highlights a growing divide between retailers adopting modern architectures and those hindered by outdated systems. This gap is increasingly impacting performance and innovation across the sector.

Retailers are urged to adopt an “AI First” mindset, preparing their data and systems for agentic commerce—a concept where transactions and protocols are managed by AI agents. Broadhead notes that whilst the future of online commerce through agents remains uncertain, the necessity for readily available data is clear. “Retailers are shifting to an ‘AI First’ or ‘agentic first’ mindset,” she states, emphasising the importance of flexibility and speed in system design.

The ability to maintain speed and availability, even under unpredictable workloads, is crucial. As consumer expectations rise, any performance issues could lead to lost revenue and brand damage. Retailers investing in modern platforms and focusing on agentic AI innovation are better positioned to succeed in this competitive market. Broadhead asserts, “The ability to release iteratively without downtime or complex schema change will be key to keeping your development teams shipping at the pace of the industry.”

Singapore has emerged as the most premium flexible office market in the Asia Pacific region, with prime desk rates averaging US$800 per month, according to research by Workthere, part of Savills Impacts programme. This positions Singapore ahead of other major cities like Tokyo and Sydney, driven by strong demand and limited supply in prime areas.

Globally, London leads with the highest average prime flex office desk rates at US$1,320 per month, followed by New York and Los Angeles. The Asia Pacific region, however, boasts the highest global attendance in flex offices, with an average of 4.13 days per week, highlighting the region’s emphasis on in-person collaboration.

The demand for flexible office spaces is accelerating, particularly from multinational corporations seeking agility in an uncertain business climate. In Asia Pacific, these corporates account for 41% of the demand, the highest globally, as they expand into emerging talent hubs like Bengaluru and Ho Chi Minh City.

Piers Mallitte, Head of Workthere Asia Pacific at Savills, noted, “Multinational’s use of flex offices across Asia Pacific has risen sharply, driven by the need to access cost-efficient talent pools and enter new markets quickly and efficiently.”

The evolving work patterns and employee expectations are reshaping corporate demands for flex office spaces. Features such as meeting rooms, phone booths, and collaboration spaces are highly valued, particularly in Europe, Asia Pacific, and the UK, supporting hybrid work models.

Looking forward, the emphasis on sustainability is growing, with Singapore and Australia leading retrofit activities in the region. This trend is expected to continue as companies seek to attract talent and meet net-zero commitments.

Abu Dhabi’s economic delegation, led by the Abu Dhabi Department of Economic Development (ADDED), has concluded a successful visit to India and Singapore, signing agreements aimed at strengthening partnerships across various sectors. The delegation’s efforts are part of Abu Dhabi’s strategy to enhance its Falcon Economy, focusing on smart, diversified, and sustainable growth.

During the visit, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, emphasised the importance of impactful partnerships with global economic powerhouses. “Our visit to Singapore and India comes as we continue to strengthen ties with top trade partners,” he stated, highlighting the emirate’s commitment to fostering a business-enabling ecosystem through progressive policies and world-class infrastructure.

In 2024, Singapore’s investments in Abu Dhabi increased by 25%, with a focus on manufacturing, education, and technical activities. Similarly, Indian companies operating in Abu Dhabi experienced a 31% rise. The discussions during the visits centred on deepening partnerships in strategic sectors such as life sciences, AI, fintech, and sustainable energy.

The Abu Dhabi Investment Forum in Mumbai provided a platform for Indian businesses to explore opportunities in the emirate. UAE Ambassador to India, Dr Abdulnasser Alshaali, remarked, “Today, the UAE and India partnership is entering one of its most dynamic chapters.”

The initiatives, including the UAE-India Startup Series launched in June 2025, aim to connect India’s talent with the UAE’s strategic capital, fostering innovation and investment. These efforts are set to create a corridor for ideas and growth, strengthening the economic ties between the nations.

A new report by the Association of Chartered Certified Accountants (ACCA), in collaboration with the International Federation of Accountants (IFAC), Chartered Accountants Australia and New Zealand (CA ANZ), and the Organisation for Economic Cooperation and Development (OECD), highlights that Singapore is among the top performers in public trust in tax systems. The survey, which included over 12,000 individuals across 29 countries, shows that Southeast Asia, particularly Singapore, leads in trust, digital experience, and perceptions of tax fairness.

The report, titled “Public Trust in Tax 2025: Asia and Beyond,” reveals that 64.7% of respondents in Southeast Asia view paying tax as a community contribution rather than a cost. Singaporeans share this sentiment, reflecting strong support for the fiscal contract. Furthermore, two-thirds of Asian countries believe that public services and infrastructure provide fair returns for taxes paid, a view less common in Europe and Latin America.

Singapore’s advanced digital tax infrastructure, managed by the Inland Revenue Authority of Singapore (IRAS), is noted for its positive user experience, aligning with regional trends. The survey also indicates that Singapore is one of only seven countries globally with a net positive trust rating for politicians on tax matters, contrasting with the high levels of distrust in Western Europe and Latin America.

Helen Brand, Chief Executive of ACCA, emphasised the importance of transparency and fairness in maintaining public trust, stating, “Asia’s strong public trust in taxation offers valuable lessons for the world.” The findings will be further discussed at a launch webinar on 11 February 2026, where policymakers and tax authorities will explore the implications of the report.