Industry News

ServiceNow has announced the launch of agentic workforce management, a groundbreaking extension of its AI agent orchestration platform. This new strategy allows employees and AI agents to work together seamlessly and securely, aiming to accelerate AI’s impact on business operations. The initiative is designed to transform IT operations, customer support, security, and software deployment by integrating AI agents into teams, enabling them to autonomously complete tasks whilst being overseen by human managers.

The introduction of agentic workforce management comes amid a decline in AI spending in digitally advanced markets such as Singapore, Japan, Australia, and India. ServiceNow’s approach seeks to bridge the gap between AI ambition and execution by ensuring that AI agents are not just task-oriented but can operate across the enterprise, learning and adapting under human guidance.

Key benefits of the agentic workforce include automating 97% of software provisioning requests and reducing IT service desk volume by 40%. Additionally, customer support cases are resolved 50% faster, showcasing the potential for improved productivity and efficiency. Jacqui Canney, chief people and AI enablement officer at ServiceNow, emphasised the importance of designing work with AI at the centre, stating, “When we design work with AI and put people at the centre, we create momentum that drives real business impact.”

ServiceNow’s single-platform model distinguishes it from competitors by allowing AI agents to function autonomously across the business, rather than in isolated silos. This integrated approach ensures that AI agents can learn from past experiences and handle new tasks within established guidelines. The company’s AI Control Tower complements this by providing governance and oversight, ensuring ethical and compliant use of AI.

As organisations increasingly adopt AI-enabled work practices, ServiceNow’s agentic workforce management offers a model for integrating AI agents with human teams to unlock higher-value work and drive innovation.
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Confluent’s latest report reveals that data streaming platforms (DSPs) are deemed critical by over 90% of Singapore IT leaders for achieving data-related goals and advancing AI adoption. However, challenges such as fragmented data ownership and insufficient AI skills continue to impede progress in the region.

The report, based on insights from 4,175 IT leaders across 12 countries, including 175 from Singapore, underscores the importance of DSPs in transforming businesses into ‘real-time enterprises’. These platforms are essential for connecting, streaming, and governing real-time data, which is crucial for AI systems. “Data streaming platforms act as the nervous system of modern businesses,” said Suvig Sharma, Regional Head, Asia, Confluent.

Key challenges identified include uncertain data timeliness and quality, affecting 72% of businesses, and unclear data lineage, impacting 67%. Despite these hurdles, 95% of Singapore IT leaders plan to increase investments in DSPs in 2025, recognising their role in ensuring data quality and governance.

The benefits of DSPs extend beyond operational efficiency, with 85% of leaders citing product innovation and faster time-to-market as key advantages. Additionally, 88% reported a 2-5x return on investment from data streaming, highlighting its strategic importance.

Confluent’s findings emphasise the need for Singaporean businesses to overcome data and skills challenges to fully leverage AI’s potential. As DSPs become integral to business strategy, they offer a pathway to enhanced innovation and competitiveness in the AI era.
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The Emirates Group has embarked on an ambitious global recruitment campaign, seeking to hire 17,300 new employees across 350 roles this financial year. This initiative is part of the Group’s strategy to support its growth and innovation plans. The recruitment drive spans various positions, including pilots, cabin crew, engineers, and IT professionals, reflecting the Group’s commitment to expanding its 121,000-strong workforce.

The Group plans to host over 2,100 talent events in 150 cities worldwide, showcasing Dubai’s appeal as a hub for global professionals. In Singapore, Emirates has already conducted three recruitment events this year, targeting pilots, IT specialists, and cabin crew. The airline currently employs 32 Singaporean pilots and over 70 cabin crew members from Singapore.

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline & Group, stated, “The Emirates Group’s people strategy is anchored in Dubai’s Economic Agenda D33 and our own projected growth and expansion. We’re seeking world-class talent to fuel our bold ambition, redefine the future of aviation, and continue our commitment and culture of innovation and excellence.”

Since 2022, the Group has welcomed over 41,000 professionals, reinforcing its reputation as a top employer. The Group’s appeal lies in its brand power, tax-free salaries, and comprehensive benefits, including travel perks and training programmes. The Emirates Group continues to attract talent to Dubai, a city known for its safety, economic opportunities, and vibrant lifestyle.

Prospective candidates can apply for roles and find information on recruitment events at the Emirates Group’s careers website.
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Singapore’s real estate market experienced a significant shift in Q2 2025, with residential sales plummeting by 64.1% compared to the previous quarter, according to the Urban Redevelopment Authority (URA). The decline, from 3,375 units in Q1 to 1,212 in Q2, was attributed to fewer project launches and reduced homebuyer activity. Despite this, the URA All Residential Price Index rose by 1.0% quarter-on-quarter, reflecting a resilient pricing environment.

In the Core Central Region, prices increased by 3.0% quarter-on-quarter, driven by new sales from developments like 21 Anderson. Leonard Tay, Head of Research at Knight Frank Singapore, noted a shift in buyer sentiment, with more homeowners willing to negotiate prices amidst global political and economic uncertainties. “Local homebuyers are expected to support activity in the prime home market segment,” Tay stated.

The office sector saw a slight decline in rental rates, with a 0.3% drop in Q2 2025. Occupancy levels rose marginally to 88.6%, though rents remained stable due to ongoing trade tensions. Knight Frank’s survey highlighted that 37.7% of global corporates prioritise enhancing operational efficiency amidst economic headwinds.

Retail space rents grew by 0.9% quarter-on-quarter, despite challenges such as rising operating costs and labour constraints. The food and beverage sector, in particular, faced intense competition, with operating expenditure reaching a record S$12.3b in 2023.

Looking ahead, the real estate market faces challenges from protectionist trade policies and geopolitical tensions. However, new launches and local demand are expected to sustain moderate growth in the residential sector, whilst the office and retail markets navigate an uncertain global landscape.
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The private residential market in Singapore has demonstrated remarkable resilience, with prices continuing to rise despite a 29.4% quarter-on-quarter decline in sales volume to 5,128 units in Q2 2025. According to Cushman & Wakefield’s Head of Research, Singapore & SEA, Wong Xian Yang, the market’s strength is driven by steady owner-occupier demand and the attractiveness of resale properties due to rising rents and lower interest rates.

The resale market accounted for 71.1% of the total sales volume, with resale transactions increasing by 2.3% quarter-on-quarter to 3,647 units. In contrast, new sales volume fell by 64.1% to 1,212 units due to fewer new launches. Despite this, new launches in July have shown positive momentum, with developments like LyndenWoods and UpperHouse achieving significant sales during their launch weekends.

Private residential property prices rose by 1.0% quarter-on-quarter in Q2 2025, supported by new launches. Landed residential prices saw a notable increase of 2.2% quarter-on-quarter, driven by limited supply and strong local demand. Non-landed residential prices grew by 0.7%, with the Core Central Region (CCR) and Outside Central Region (OCR) leading the growth.

Looking ahead, private residential prices are forecasted to grow by around 2-3% year-on-year for the whole of 2025. Despite low unsold inventory, developers are expected to remain cautious in their land banking activities, with new launches anticipated to be priced competitively due to heightened construction costs. Rents are also expected to grow by 3.0%-5.0% year-on-year in 2025, supported by steady demand and low new completions.
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HDB resale prices have continued their upward trajectory for the 21st consecutive quarter, with a 0.9% increase in Q2 2025, according to Christine Sun’s, Chief Researcher & Strategist, Realion Group, analysis of the latest public housing data. This marks a slowdown from the 1.6% rise in Q1 2025 and reflects a broader trend of decelerating price growth. The year-on-year increase is also lower than the 2.3% recorded in Q2 2024.

The slower pace of price growth is attributed to a substantial increase in the supply of new flats, with over 20,000 new build-to-order (BTO) and sale-of-balance flats (SBF) launched in February and July. Many of these new flats are in desirable locations and offer shorter completion times, alongside generous grants and deferred income assessments for eligible buyers.

Despite the slowdown, the current streak of price growth is the longest ever recorded, surpassing the 20 consecutive quarters from Q4 1991 to Q4 1996. However, the recent increases are modest compared to the dramatic spikes of the 1990s, when prices surged by 294.4%.

Resale volume also saw a rise, increasing by 7.8% from 6,590 units in Q1 2025 to 7,102 units in Q2, likely due to the absence of BTO launches in the second quarter. Year-on-year, however, resale volume declined by 3.4%.

HDB rental demand is recovering, with a 4.2% increase in approved rental applications from Q1 to Q2 2025. As private rents become more competitive, rent prices are expected to rise modestly by 1 to 2% for the year.

Looking ahead, HDB resale price growth is expected to continue modestly, driven by stable economic fundamentals and declining interest rates. Prices may rise by 4 to 5.5% for the whole of 2025, with 27,000 to 28,000 resale homes anticipated to be transacted. The Draft Master Plan 2025 could boost interest in areas like Bishan, Dover, and Sengkang, as new community hubs and amenities are developed.
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Singapore’s property market has demonstrated resilience in Q2 2025, with a moderate 1% increase in property prices, according to Huttons Asia. This comes amid global uncertainties, including the US’s imposition of tariffs on numerous countries in April 2025. Although these tariffs were temporarily paused for 90 days, the potential impact on the property market remains a concern for some buyers.

Non-landed homes in the Core Central Region (CCR) saw a notable 3% price increase, outpacing other regions. However, transaction volumes dipped by 29.4% quarter-on-quarter to 5,128 units, though they were up 4.3% year-on-year. The Good Class Bungalow (GCB) market experienced a significant surge, with 11 transactions valued at over $300 million, compared to just two in the previous quarter.

Mark Yip, CEO of Huttons Asia, highlighted the robust demand for properties, noting that “buyers viewed investment in properties as a safe option in times of uncertainty.” The top-selling projects in Q2 2025 included One Marina Gardens, Bloomsbury Residences, and The Hill @one-north, with One Marina Gardens selling 479 units.

The rental market also strengthened, with a 0.8% increase in rents, driven by a low supply of completed homes. The CCR is expected to see stronger rental growth in the coming years due to limited supply.

Looking ahead, the Singapore property market is poised for continued growth, with developers expected to sell between 7,500 and 8,500 units in 2025. Prices are projected to rise by 4% to 7%, supported by improved sales sentiments and a resilient economy.
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Singapore-listed entities have been recognised for their outstanding corporate governance, with 53 entities achieving ASEAN Asset Class status in the 2024 ASEAN Corporate Governance Scorecard (ACGS). This accolade highlights Singapore’s commitment to governance excellence, representing about a fifth of the 250 top-scoring entities across ASEAN.

The ACGS, a joint initiative by the ASEAN Capital Markets Forum and the Asian Development Bank, involves six countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. The Centre for Governance and Sustainability (CGS) at the National University of Singapore (NUS) Business School and the Singapore Institute of Directors (SID) have been the domestic ranking bodies since 2013.

This year’s assessment introduced new questions on sustainability and resilience, reflecting the evolving business landscape. Singapore’s top 100 SGX-listed entities, including 71 companies and 29 trusts or REITs, were evaluated. The 53 entities recognised as Tier 1 scored an average of 106.9 out of 130, showcasing strengths in shareholder rights and sustainability. In contrast, Tier 2 entities averaged 88.8 points.

John Lim, a Singapore Corporate Governance Expert, emphasised the strategic importance of strong governance amidst geopolitical changes. “The strong showing by Singapore entities affirms our continued commitment to excellence in governance,” he stated.

Professor Lawrence Loh, Director of CGS, praised the entities for their governance performance, particularly in sustainability. He expressed hope for further improvements in board effectiveness and transparency.

In the 2024 ACGS results, Oversea-Chinese Banking Corp (OCBC) led the rankings, followed by CapitaLand Investment and CapitaLand Integrated Commercial Trust.
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Tsuburaya Productions has announced the release of two new Ultraman Card Game expansions, coinciding with the premiere of the Ultraman Omega TV series in Japan. The Starter Deck 03 ‘Ω to the Future’ is available today, whilst the Booster Pack 04 ‘Gleam of Eternal Hope’ will launch on 1 August 2025. These expansions introduce new gameplay mechanics and characters, including the debut of Ultraman Omega in card form.

The Starter Deck 03 ‘Ω to the Future’ features exclusive cards such as Ultraman Omega, Meteokaiju, and Ultraman Arc, designed to reflect the live-action series. This deck introduces fresh gameplay strategies that reward synergy and strategic planning, allowing players to relive key moments from the series. As a bonus, purchasers of the starter deck will receive a preview pack of the upcoming booster pack.

Booster Pack 04 ‘Gleam of Eternal Hope’ expands the card universe with upgraded versions of Ultra Heroes like Ultraman Dyna, Ultraman Z, and Ultraman Trigger. Each 24-pack box includes a special box topper card featuring Alien Baltan, a classic villain known for its illusory powers.

The Ultraman Card Game is gaining traction globally, with the Asia-Pacific region leading the resurgence of trading card games. These new releases are expected to bolster the game’s popularity ahead of the Ultra League World Championship 2026 in Tokyo. Fans can purchase the new decks at authorised hobby stores, major retailers, and online platforms in Singapore.
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Singapore’s industrial sector continues to demonstrate resilience, with rents and prices experiencing moderate growth in Q2 2025, according to Cushman & Wakefield’s analysis of JTC’s Quarterly Market Report. The Purchasing Managers’ Index rose to 50 in June, indicating a return to expansion after months of contraction. This suggests a cautious recovery in manufacturing sentiments, despite ongoing uncertainties.

Overall industrial rents increased by 0.7% quarter-on-quarter (qoq) in Q2 2025, marking the 19th consecutive quarter of growth. This was supported by steady asking rents in new developments, driven by higher construction costs. Meanwhile, owners of older properties have shown flexibility in rents to maintain high occupancy rates. Business parks recorded the strongest rental growth at 1.2% qoq, followed by multiple-user factories at 0.9% qoq.

Vacancy rates rose slightly by 0.2 percentage points to 11.2% in Q2 2025, with warehouses and multiple-user factories experiencing higher vacancies due to increased supply. Notable completions include JTC Space @ Ang Mo Kio and Mapletree Joo Koon Logistics Hub. Despite this, new multi-user prime logistics spaces have seen steady take-up rates, reflecting tenant interest in quality spaces.

Industrial prices rose by 1.4% qoq, marking the fifth consecutive quarter of increase. Transaction volumes also increased by 7.1% qoq to 435 transactions, with investors showing keen interest in new economy assets like data centres and life science facilities. The industrial enbloc market has seen a resurgence, with two successful deals in H1 2025, highlighting investor interest in freehold sites with potential for long-term appreciation.
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