SINGAPORE – The value of a good business publication lies in trust, judgment and perspective, said Minister for Transport and Second Minister for Finance Jeffrey Siow at The Business Times’ 50th anniversary dinner on Oct 1.
“For its first 50 years, BT chronicled Singapore’s emergence as a global business and financial centre,” he said.
“In your next 50, you have the opportunity to do something larger: to become one of the institutions through which the world understands Singapore and South-east Asia.”
Giving the keynote address at the event held at Marina Bay Sands, Siow said that information is now abundant and anyone can publish to a global audience, but there is more noise to cut through.
“The premium is not simply about access to information or speed of publication,” he added.
Value of verified information will grow
Trust is fundamental to all journalism – but is especially important in business and financial journalism, he said.
Such news is often instantly acted upon, and can affect how an investor deploys capital, how a company responds to a new regulation, or how a business assesses a market, so inaccuracy has serious consequences.
The value of verified information will grow, in a world where rumours can spread quickly and plausible-looking posts can be easily generated by artificial intelligence, he said.
An established newsroom like BT, where the facts have been checked, sources have been tested, and different perspectives have been considered, has an advantage.
Referring to judgment, Siow pointed out that while facts are the foundation of truth, readers need help deciding which ones matter.
In helping a business leader in Singapore decide what a change in US trade policy means for their supply chain, how AI may change their industry, or what interest rate movements mean for financing, journalism adds value beyond reporting, he said.
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