Singapore economic czar Tharman Shanmugaratnam to operate for president

Singapore economic czar Tharman Shanmugaratnam to operate for president


Singapore’s veteran financial policymaker Tharman Shanmugaratnam has signaled his intention to contest future presidential elections in Singapore that should be held by September this year.

Bloomberg | Bloomberg | Getty Illustrations or photos

Singapore’s veteran economic policymaker Tharman Shanmugaratnam is setting up to run in the impending presidential elections in Singapore that should be held by mid-September.

Shanmugaratnam, the moment believed of as a possible candidate for Worldwide Financial Fund main, will resign from the ruling People’s Motion Occasion to stand for election, he said in a letter to Singapore Prime Minister Lee Hsien Loong Thursday.

That implies stepping down from his present roles as senior minister and coordinating minister for social guidelines on July 7.

The Singapore presidency is largely a symbolic and ceremonial head of condition situation with minimal government electrical power in excess of the Singapore govt, like management of the nationwide reserves.

The primary minister is the head of federal government in Singapore. Due to the fact 1993, the Singapore president has been straight elected by a preferred vote.

This marks the conclude of Shanmugaratnam’s provider in various roles in the Singapore cupboard and several world companies just after additional than two decades. A experienced economist, he was a profession community servant in advance of he was to start with elected as a Member of Parliament in November 2001.

The veteran policymaker is 66 many years old this calendar year and the existing chairman of the Financial Authority of Singapore, the country’s de facto central lender and money regulatory authority. He is also on the board of the Group of Thirty, a world-wide council of financial and fiscal leaders from the general public and private sectors and academia.

Shanmugaratnam co-chairs the World Fee on the Economics of Drinking water and is a member of the United Nations’ Large-Level Advisory Board on Effective Multilateralism.

Among his previous international appointments, Shanmugaratnam was the first Asian chair of the Worldwide Monetary and Fiscal Committee, the IMF’s important plan discussion board. He was also Singapore’s deputy key minister from 2011 to 2019, and previously served as finance minister and education and learning minister.



Supply

Asia-Pacific markets trade mixed as investors assess U.S.’ 15% tariffs on South Korea; await Bank of Japan’s rate decision
World

Asia-Pacific markets trade mixed as investors assess U.S.’ 15% tariffs on South Korea; await Bank of Japan’s rate decision

Asia-Pacific markets start the day mixed Asia-Pacific markets opened mixed Thursday. Japan’s Nikkei 225 benchmark moved up 0.21% while the broader Topix index ticked up 0.28%, as of 8.10 a.m. Singapore time (8.10 p.m. ET Wednesday). In South Korea, the Kospi index fell 0.14% while the small-cap Kosdaq was flat. Over in Australia, the S&P/ASX 200 benchmark fell […]

Read More
Trump announces trade deal with South Korea, setting tariffs at 15%
World

Trump announces trade deal with South Korea, setting tariffs at 15%

File photo: US President Donald Trump gestures during a joint press conference in South Korea. Afp Contributor | Afp | Getty Images U.S. President Donald Trump on Wednesday announced that Washington had reached a “Full and Complete” trade deal with Seoul, setting blanket tariffs on the country’s exports to U.S. at 15%. This deal means […]

Read More
Qualcomm beats on earnings, highlights growth in Meta smartglasses
World

Qualcomm beats on earnings, highlights growth in Meta smartglasses

Cristiano Amon, CEO & President, Qualcomm, on Centre Stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal. Shauna Clinton | Sportsfile | Getty Images Qualcomm reported fiscal third-quarter earnings on Wednesday that beat Wall Street expectations and provided a stronger-than-expected guide for the current quarter. Qualcomm shares slid in […]

Read More