Industry News

Over 4,000 residents embarked on their lifelong learning journeys at the SkillsFuture Festival Central 2025, held at Bishan Junction 8. Organised by the Central Singapore Community Development Council in collaboration with SkillsFuture Singapore and Lifelong Learning Singapore, the festival is part of the nationwide SkillsFuture movement, celebrating its 10th anniversary this year.

The event spotlighted upskilling opportunities in the digital economy, focusing on artificial intelligence, cybersecurity, and cloud computing. These areas are crucial as they transform sectors and demand expertise in threat detection, data analytics, and AI applications. The festival featured 18 partners, including Institutes of Higher Learning, public agencies, and corporates, offering activities, demonstrations, and educational excursions.

Participants engaged in learning journeys, exploring sustainability, digitalisation, and electrification technology. The Skills Marketplace provided interactive booths where attendees could test cybersecurity skills and explore AI applications. Career coaches from the Employment and Employability Institute and skills ambassadors from Lifelong Learning Singapore guided attendees in identifying skill gaps and training needs.

Mid-career individuals explored booths by training providers, learning about the SkillsFuture Career Transition Programme, which offers subsidised courses, and the SkillsFuture LevelUp Programme, providing additional credit for course fees. Onsite job interviews offered direct access to hiring companies, with over 20 vacancies available in roles such as Mobile Application Test Engineer and Software Developer.

Denise Phua, Mayor of Central Singapore District, emphasised the festival’s role in empowering residents to self-drive their learning and explore new career paths. The event underscores Singapore’s commitment to lifelong learning and adapting to future trends in technology.
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Searches for stock-related queries in Singapore have surged following former US President Donald Trump’s announcement of a new tariff deadline on 1 August. Notably, searches for “is Trump good for the stock market” increased by 170% in the past month. Whilst Tesla’s stock faced scrutiny as searches for “should I sell Tesla stock now” skyrocketed by over 5,000%, following Trump’s public dismissal of Elon Musk’s political ambitions.

Nvidia emerged as the most searched stock in Singapore, with 276,600 monthly searches, reflecting its global prominence after becoming the first company to reach a $4 trillion market value. Tesla followed closely, with 192,600 searches, despite a recent dip in its share price due to the Trump-Musk feud. Palantir, a software provider to US military and intelligence agencies, ranked third with 57,340 searches, having recently joined the ranks of the 20 most valuable US companies.

Meta and Alibaba completed the top five most searched stocks in Singapore, drawing 56,170 and 45,750 monthly searches, respectively. Meta’s recent $14.3 billion investment in Scale AI highlights its commitment to advancing artificial general intelligence.

Adam Nasli from BrokerChooser explained that stock market participation varies globally due to factors like financial infrastructure and economic development. The US leads with 55% of its population invested in the stock market, followed by Canada and Australia. In contrast, countries with lower participation rates face barriers such as limited financial literacy and cultural perceptions of risk.

As trade tensions continue, these search trends underscore the shifting interests and concerns of investors in Singapore and beyond.
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Singtel’s regional data centre arm, Nxera, alongside its industry partners, has announced plans to train and hire over 500 individuals for data centre-related and digital roles. This initiative is designed to bolster Singapore’s ambitions in artificial intelligence (AI) development. The announcement was made during Nxera’s inaugural Sustainable AI Data Centre Career Day, held in conjunction with the SkillsFuture Festival 2025.

The event, which highlighted the growing demand for skilled professionals in the AI sector, was attended by Tan Kiat How, Senior Minister of State, Ministry of Digital Development and Information. Tan, who is also the adviser of the TechSkills Accelerator (TeSA) for ITE and Polytechnics Alliance (TIP Alliance), underscored the importance of such initiatives in preparing the workforce for future technological advancements.

Nxera’s commitment to training and hiring is a significant step towards addressing the skills gap in the rapidly evolving digital landscape. By focusing on data centre-related roles, the initiative aims to support the infrastructure necessary for AI development, which is crucial for Singapore’s digital economy.

The collaboration between Nxera and its partners reflects a strategic effort to enhance the talent pool in the tech industry, ensuring that Singapore remains at the forefront of AI innovation. As the demand for AI capabilities continues to rise, such initiatives are expected to play a pivotal role in shaping the future workforce.

With the successful launch of this programme, Nxera and its partners are poised to make a substantial impact on the AI sector, fostering growth and innovation in Singapore’s digital landscape.
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Singapore’s industrial production (IP) remained steady in June, marking an 8% year-on-year increase, according to a report by UOB Global Economics and Markets Research. This growth comes despite a flat month-on-month seasonally adjusted performance, following a revised 1% increase in May. The report highlights that the overall manufacturing growth for the first half of 2025 is expected to maintain a 5% year-on-year increase, aligning with advance estimates.

Pharmaceuticals played a significant role in this growth, with output surging by 43.7% in June, up from 14% in May. This spike is attributed to potential front-loading ahead of anticipated US tariffs on pharmaceutical imports. However, excluding biomedical output, industrial production contracted by 0.8% month-on-month in June.

The electronics sector faced challenges, with a 1.6% month-on-month decline in June, continuing a downward trend from May. The sector’s performance was particularly impacted by weaknesses in semiconductors. Conversely, precision engineering showed promise, with a 15.3% month-on-month increase, driven by machinery, systems, and precision modules.

UOB’s report also noted that Singapore’s GDP growth of 4.2% year-on-year in the first half of 2025 was bolstered by export front-loading and manufacturing activities, anticipating further US tariffs. However, the report warns of potential growth weakening in the second half of the year due to these tariffs, which could affect trade-related services more than manufacturing.
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DayOne Data Centres has commenced construction on its inaugural hyperscale data centre in Singapore, located at 21 Jalan Buroh. The 20-megawatt (MW) facility, set to be operational by 2026, will be AI-ready and powered by up to 100% renewable energy. It is poised to be the first in Singapore to trial on-site Solid Oxide Fuel Cell (SOFC) power generation, marking a significant step towards hydrogen-based energy solutions.

The development is supported by a Power Purchase Agreement with Sembcorp Power, ensuring the facility’s operations are fully covered by renewable energy. Additionally, DayOne has partnered with the National University of Singapore (NUS) for research and development under the Sustainable Tropical Data Centre Testbed Phase 2.0 initiative. This collaboration aims to advance data centre innovation, focusing on efficiency and sustainability in tropical climates.

Jamie Khoo, CEO of DayOne Data Centres, stated, “Our SG1 facility is an important milestone and a contribution to the nation’s ambition of being an AI-ready, sustainable digital economy. Backed by strong public-private collaboration, we’re building infrastructure that is purpose-built for AI workloads, cloud computing, and innovation.”

The facility will incorporate advanced cooling technologies and aims to achieve both LEED Platinum and BCA Green Mark Platinum certifications. This aligns with Singapore’s broader goals to expand data centre capacity and support its National AI Strategy 2.0.

DayOne’s initiative is part of a larger strategy to support digital transformation across Southeast Asia, reinforcing its commitment to sustainable and innovative digital infrastructure.
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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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