Plans by the Government to reopen the economy in a phased manner from June 2 are the only way to go. But even then, this will be subject to various risks and uncertainties, including issues of coordination and logistics, as well as behavioural responses. And even after the economy is almost fully reopened, it will remain weak, with many sectors disrupted, some permanently, and companies' business models upended. The timing to start the process seems about right. Although infections in worker...

Unity, Resilience, Solidarity, and now Fortitude. These are what Singapore's four Budgets have been christened, capturing the qualities that Singapore will need to get through the Covid-19 crisis, according to Deputy Prime Minister and Finance Minister Heng Swee Keat. In the process, we will spend $92.9 billion. At close to 20 per cent of the country's gross domestic product (GDP), it adds up to the biggest fiscal stimulus package in our history, and among the largest in the world. And there...

Working from home (WFH) is the new normal and, to a large extent, it is here to stay. The Ministry of Manpower has urged that WFH should be the default option after the circuit breaker has ended. It may last at least until the Covid-19 pandemic is defeated and maybe even beyond. Despite its many disadvantages, many companies have found that WFH is not only feasible but also enables them to operate efficiently and at lower cost. For some, more WFH could become a permanent arrangement. But a...

Over the years, economists have talked of the "post-war economy", the "post-industrial economy" and the "post-Brexit economy". Now they are talking about the "post-Covid-19 economy". It is not yet upon us - Covid-19 is still raging around the world. But some of the contours of the economic future are already coming into view. And for Singapore, as for many other countries, there is both bad news and interesting possibilities. Let's start with the bad news. Amid the rise of social distancing...

Blanket rules on screening will deter investors On April 18, in the middle of its nationwide lockdown, the Indian Ministry of Commerce announced that, henceforth, all entities from countries that share a land border with India would need government approval before they can invest in an Indian company. They can no longer go through the so-called "automatic route", under which investment in most areas is not subject to prior scrutiny. Investments from Pakistan and Bangladesh already require...