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Singapore election

Singapore election cheers business but COVID-19 worries remain

Corporate sector looking for constructive ways to tackle pandemic fallout

SINGAPORE -- Singapore's pro-business People's Action Party may have maintained its uninterrupted grip on power in last week's hotly contested election, but for many businesses the relief was short-lived.

Preliminary data on Tuesday showed that Singapore's economy shrank 12.6% on year in the April-June quarter due to the COVID-19 pandemic, with no sign of an end to the crisis.

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