Topics: Economy, Finance

  • AI adoption could boost global GDP by an additional 15 percentage points by 2035, as global economy is reshaped: PwC Research

    AI adoption could boost global GDP by an additional 15 percentage points by 2035, as global economy is reshaped: PwC Research

    AI’s potential to boost global growth hinges not just on its capabilities, but on ability to deploy it responsibly and earn society’s trust. However, physical climate risks could leave the global economy nearly 7% smaller in 2035 than it would have been otherwise. New cross-industry ways of working will allow companies to seize growth opportunities. To support clients in this new environ

  • PwC Singapore’s report: Singapore’s sustainability legal services market set to triple in value by 2033

    PwC Singapore’s report: Singapore’s sustainability legal services market set to triple in value by 2033

    The sustainability legal services market is projected to grow at a compound annual growth rate (CAGR) of 10% per annum, reaching S$450 million to S$500 million by 2033, up from an estimated S$140 million to S$180 million in 2023 Key areas expected to drive the growth of sustainability legal services include green finance, capital and infrastructure projects, and technologies and digital innovatio

  • PwC’s response to Singapore Budget 2025 on 18 February

    PwC’s response to Singapore Budget 2025 on 18 February

    For immediate release - Singapore, 18 Feb 2025 – The following comments are responses from PwC Singapore on the Singapore Budget 2025:

    "We are glad that the government has heard the clarion call of businesses to help them with business costs and has provided a 50% corporate income tax rebate at the same quantum as last year. Companies should make the most of the corporate income tax rebate

  • PwC’s response to Singapore Budget 2025 on 18 February

    PwC’s response to Singapore Budget 2025 on 18 February

    For immediate release - Singapore, 18 Feb 2025 – The following comments are responses from PwC Singapore on the Singapore Budget 2025:

    "We are glad that the government has heard the clarion call of businesses to help them with business costs and has provided a 50% corporate income tax rebate at the same quantum as last year. Companies should make the most of the corporate income tax rebate

  • PwC Singapore and SBF call for greater support to build globally competitive and sustainable businesses, upskill workforce through enterprises and alleviate business cost

    PwC Singapore and SBF call for greater support to build globally competitive and sustainable businesses, upskill workforce through enterprises and alleviate business cost

    Thursday, 16 January 2025 [Singapore] – PwC Singapore and the Singapore Business Federation (SBF) are pleased to present our joint Budget 2025 Proposal titled “Forging Ahead with Confidence in Uncertain Times” aimed at fostering resilience and growth for Singapore against a backdrop of global uncertainties.
    AREAS OF FOCUS FOR SINGAPORE IN 2025

    2 As the nation celebrates its 60

  • PwC 2024 Global Investor Survey reveals top investor concerns for Singapore: Macroeconomic volatility, cyber risks, and geopolitical conflict

    PwC 2024 Global Investor Survey reveals top investor concerns for Singapore: Macroeconomic volatility, cyber risks, and geopolitical conflict

    Around eight in 10 investing in Singapore urge companies to invest in both AI and talent
    Respondents who invest in Singapore rank macroeconomic volatility (51%), cyber risks (49%), and geopolitical conflicts (45%) as top concerns, while globally, cyber risks (36%) and geopolitical conflicts (36%) are the main worries More than half of respondents investing in Singapore expect significant incr

  • 80% of asset and wealth managers say AI will fuel revenue growth while ‘tech-as-a-service' could see 12% boost to revenues by 2028: PwC 2024 Asset & Wealth Management Report

    80% of asset and wealth managers say AI will fuel revenue growth while ‘tech-as-a-service' could see 12% boost to revenues by 2028: PwC 2024 Asset & Wealth Management Report

    Almost three-fourths (73%) of asset and wealth management (AWM) organisations say AI is seen as the most transformational technology over the next 2-3 years 81% are contemplating strategic partnerships, consolidations, or mergers and acquisitions (M&A) to enhance technological capabilities and build an ‘extended tech ecosystem’ Global assets under management (AUM) projected by PwC to hit U

  • PwC welcomes 12 new partners in Singapore

    PwC welcomes 12 new partners in Singapore

    For immediate release - Singapore, 1 July 2024: PwC is pleased to announce the admission of 12 new partners based in Singapore, the largest cohort the firm has seen in the last five years. The appointment of these exceptional individuals reflects PwC’s efforts to double down on its efforts to grow its community of multidisciplinary solvers. It also underscores the Singapore firm’s commitment to ad

  • Workers in Singapore embrace AI and prioritise skills growth amid rising workloads and an accelerating pace of change: PwC's 2024 Global Workforce Hopes & Fears Survey

    Workers in Singapore embrace AI and prioritise skills growth amid rising workloads and an accelerating pace of change: PwC's 2024 Global Workforce Hopes & Fears Survey

    Almost half of workers in Singapore (47% vs 45% globally) say their workload has increased significantly in the past year, as around two-thirds (68% in Singapore vs 62% globally) say the pace of change at work has increased over the same timeOne-third in Singapore (34% vs 28% globally) say they are very or extremely likely to switch employer in the next 12 months – a higher proportion than during

  • GenAI holds promise for family business, but critical gaps remain: PwC’s Global NextGen Survey 2024 - Asia Pacific Highlights

    GenAI holds promise for family business, but critical gaps remain: PwC’s Global NextGen Survey 2024 - Asia Pacific Highlights

    73% of NextGen in Asia Pacific believe that generative AI (GenAI) is a powerful force for transformation, but many question the ability of their family business to capitalise on it Only 8% of family business in Asia Pacific have adopted GenAI, while 56% have yet to explore the technology A mere 9% of Asia Pacific family businesses have established protocols on the responsible use of emerging tec

  • Uplifting data literacy and transformation in the logistic sector with new executive certificate programme

    Uplifting data literacy and transformation in the logistic sector with new executive certificate programme

    For immediate release, Singapore, 5 June 2024 - SMU Academy, the professional training arm of Singapore Management University (SMU), in collaboration with PwC Singapore and The Logistics Academy (TLA), today announced the launch of Executive Certificate in Successful Data Transformation for the Logistics Sector. This industry-specific programme is designed to equip about 60 professionals each year

  • PwC’s response to Singapore Budget 2024 on 16 February

    PwC’s response to Singapore Budget 2024 on 16 February

    For immediate release - Singapore, 16 Feb 2024 – The following comments are responses from PwC Singapore on the Singapore Budget 2024:
    “The move to introduce a Refundable Investment Credit (RIC) regime is very wise. Singapore needs to remain competitive to continue to attract foreign direct investment. A RIC that is aligned with global standards will enable us to continue attracting high value

  • PwC Singapore's Budget 2024 proposals call for support to uplift businesses, operationalise sustainability and extend care to employees

    PwC Singapore's Budget 2024 proposals call for support to uplift businesses, operationalise sustainability and extend care to employees

    Singapore can accelerate climate action by giving a leg up to help companies operate more sustainably, and strengthen its food resilience by enabling more economic viability in urban farming A thriving workforce starts with well-supported employees, more care can be extended to Singapore employees In the age of global minimum tax, Singapore can sustain its attractiveness as an international busi

  • Prioritising audit quality, transparency, accountability and talent development in ushering in a new era of audit: PwC’s transparency report 2023

    Prioritising audit quality, transparency, accountability and talent development in ushering in a new era of audit: PwC’s transparency report 2023

    For immediate release - SINGAPORE, 11 December 2023 – Today, PwC Singapore launches its Transparency Report, for the financial year ended 30 June 2023 (FY23).
    Building on The New Equation strategy, the firm sets its sights on ushering in a new era of audit, leveraging its human-led and tech-enabled approach to deliver impactful and quality audit outcomes. The report highlights the firm’s commi

  • PwC welcomes 11 new partners in Singapore

    PwC welcomes 11 new partners in Singapore

    For immediate release - Singapore, 3 July 2023: PwC is delighted to welcome 11 new partners to its partnership in Singapore. Bringing their unique technical and leadership skills as well as in-depth experience to the PwC team, these new partners cover a diverse range of expertise that speak directly to businesses’ needs today - from sustainability to digital and risk, to workforce transformation,

  • New Asia Pacific study reveals overall progress in sustainability reporting but critical gaps remain; PwC and NUS Business School

    New Asia Pacific study reveals overall progress in sustainability reporting but critical gaps remain; PwC and NUS Business School

    Overall rise in disclosure of identified climate-related risks and/or opportunities in companies’ sustainability reporting from 77% in 2021 to 88% in 2022 Companies in most jurisdictions do well in having ESG targets (92%), but only 51% are disclosing net zero targets and only 42% have net zero targets based on the Science-Based Targets initiative (SBTi) framework. Only 16% reported having their

  • Nearly four in 10 Singapore CEOs believe their companies not viable if they continue on current path: PwC survey

    Nearly four in 10 Singapore CEOs believe their companies not viable if they continue on current path: PwC survey

    89% of Singapore CEOs surveyed believe global economic growth will decline over the next year Inflation and macroeconomic volatility rank as the top threats for nearly a third of Singapore CEOs in the short-term Over six in 10 Singapore CEOs see changes in customer demands and regulations as the biggest challenges to long-term industry profitability Amid rising costs, 83% of Singapore CEOs do not

  • PwC’s response to Singapore Budget 2023

    PwC’s response to Singapore Budget 2023

    For immediate release - Singapore, 14 Feb 2023 – The following comments are responses from PwC Singapore on the Singapore Budget 2023:

    “The Government has not only ‘sweetened’ the GST vouchers and Assurance Package but also showered additional “love” in the form of various one-off support measures such as Cost-of-Living special payments and U-Save rebates to address the concerns over rising

  • PwC’s response to Singapore Budget 2023

    PwC’s response to Singapore Budget 2023

    For immediate release - Singapore, 14 February 2023 – The following comments are responses from PwC Singapore on the Singapore Budget 2023:
    “The Government has not only ‘sweetened’ the GST vouchers and Assurance Package but also showered additional “love” in the form of various one-off support measures such as Cost-of-Living special payments and U-Save rebates to address the concerns over risin

  • Let change be Singapore’s friend: PwC’s Proposals for Budget 2023

    Let change be Singapore’s friend: PwC’s Proposals for Budget 2023

    Singapore can yield new economic benefits by strengthening its global relevance in sustainability, the digital economy and international trade The country’s strength as an international business hub can be reaffirmed in the age of global minimum tax Time for Singapore to stand out as a global asset and wealth management centre
    For immediate release - Singapore, 31 January 2023 – As Singapore

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