A total of 4,600 workers were made redundant last quarter, compared to the 5,370 in the previous quarter. However, the number was higher compared to the same period a year ago, according to the Manpower Ministry.
The bank's net profit came in at S$766 million in the three months ended March, versus S$801 million a year earlier.
Sembmarine says earnings were depressed in part due to customer requests for deferment of rig building projects.
Trade and Industry (Trade) Minister Lim Hng Kiang said the ASEAN Competition Policy and Law Programme is the first of its kind in the region that aims to bring key stakeholders of competition policy together.
While the US is still expected to grow at a modest pace, Singapore may not be able to fully capitalise on it as most of US growth will be driven by domestic spending, says MAS.
In his May Day message, the Manpower Minister urged companies to prioritise employees and called on unions to rally workers to upgrade and re-learn.
Mr Chia Song Hwee and Mr Dilhan Pillay have been promoted to presidents, joining president Gregory Curl.
According to the Ministry of Trade and Industry, the East Africa region has achieved an average of 6 per cent GDP growth since 2005.
Speaking at a business forum, the Finance Minister also said a Working Committee is exploring how to better support SMEs under the industry transformation plan.
Excluding biomedical manufacturing, output decreased 5.5 per cent from a year ago, the EDB says.