Singapore Morning News For December 29

Singapore Morning News For December 29

Singapore morning newsNew study finds clear divide among social classes in Singapore
The sharpest social divisions in Singapore may now be based on class, instead of race or religion, a study released on Thursday (Dec 28) suggests.
The Straits Times (paywall)

After an outperforming year, how will Singapore’s economy fare in 2018?
As the economy staged a remarkable recovery in 2017, local electronics manufacturer AEM Holdings enjoyed a busy year.
Channel NewsAsia 

Singapore moves ahead on smart mobility – Autonomous scheduled and on-demand public transport by 2022; first AV test centre opened
The Ministry of Transport (MOT) and the Land Transport Authority of Singapore (LTA) announced today that autonomous scheduled buses and autonomous on-demand shuttles will serve commuters in Punggol, Tengah and the Jurong Innovation District (JID) in Singapore from 2022.
Open Gov Asia 

Singapore braces for taxes, central bank tightening, trade talks
Singapore is bracing for possible tax increases and monetary policy tightening in 2018 against a backdrop of steady economic growth and benign inflation.
The Business Times 

Chugai Pharma to inject $220m into Singapore bio drug lab
Japan’s Chugai Pharmaceutical looks to invest some 25 billion yen ($221 million) into a Singapore research center for biopharmaceuticals by 2021, seeking to better compete with a host of nimble bioventures.
Nikkei Asian Review 

EXCLUSIVE – How EDB’s Smart Industry Readiness Index aims to empower Singapore’s manufacturing companies for implementing Industry 4.0 strategies
Singapore’s strength in manufacturing is probably one of the city-state’s best kept secrets. Though the country is small in size and population compared to the giants which come to mind when we think of manufacturing, over the years Singapore has developed itself as an important manufacturing centre in industries ranging from electronics and precision engineering to pharmaceuticals and biotechnology and chemicals.
Open Gov Asia 

16 retiring and former principals step down, another 63 appointed or rotated to new positions
Sixteen retiring and former principals who are stepping down were honoured on Thursday (Dec 28) at an annual appointment and appreciation ceremony for their leadership contributions.
Channel NewsAsia (video)

Higher Taxes and Rate Hikes? What’s Ahead for Singapore
Singapore is bracing for possible tax increases and monetary policy tightening in 2018 against a backdrop of steady economic growth and benign inflation.

Singapore expands its Global Innovation Alliance to Beijing to help Singapore tech companies access opportunities in China
Singapore’s Minister for Finance, Mr. Heng Swee Keat (third from left), officially launched the Global Innovation Alliance (GIA) (Beijing) in Beijing, China today, at the International Enterprise (IE) Singapore – CapitaLand Tech & Innovation Summit 2017.
Open Gov Asia 

Experts call for policies to bridge class divide in Singapore
If not for his interests in collecting toys and comic books, Mr Jedd Jong, 24, may have found it hard to make friends of a different social class, he reckons.
The Straits Times (pawwall)

Transformation Map for Singapore’s Infocomm Media sector aims to grow the industry’s value-add by 6% annually
The Infocomm Media Development Authority (IMDA) has released the Industry Transformation Map (ITM) for the Infocomm Media sector, which outlines the strategies to prepare Singapore for the digital economy.
Open Gov Asia 

The Quiet Singaporean’s Loud Global Finance Revolution: Gadfly
His words don’t carry a fraction of Fed Chair Janet Yellen’s power to move markets; nor do his actions possess the strength of Haruhiko Kuroda’s balance-sheet maneuvers at the Bank of Japan. He isn’t an intellectual in the mold of economist Andy Haldane at the Bank of England, or Raghuram Rajan, the former governor at the Reserve Bank of India.
The Washington Post 

AIG Singapore Launches Online Motor Accident Reporting Platform
AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched an online motor accident reporting platform that allows policyholders to make accident reports and commence the claims process online.
Insurance Journal 

Myanmar to release jailed Singaporean, Malaysian journalists
A Singaporean and a Malaysian journalist who were jailed in Myanmar last month for filming with a drone will be released today after charges against them were withdrawn, their lawyer Khin Maung Zaw told The Straits Times.
The Straits Times (paywall)

Singapore Court Dismisses Dispute Over $43 Million in Bitcoin
The Singapore International Commercial Court ruled today to dismiss a lawsuit where the plaintiff attempted to reclaim 3,092 bitcoin from a cryptocurrency exchange, document shows.

NTU scientists develop patch that helps burn fats
A team of scientists at Nanyang Technological University (NTU) has found a new approach to reducing bulging tummy fats.
Channel NewsAsia 

Singapore fuel oil stocks jump despite shrinking net imports
Singapore weekly onshore fuel oil inventories jumped 11.3 percent, or 2.559 million barrels (about 382,000 tonnes), to an eight-week high of 25.190 million barrels (3.76 million tonnes) in the week ended Dec. 27, data from International Enterprise (IE) Singapore showed on Thursday.
Hellenic Shipping News 

Looking Ahead to 2018: More disruptions in store for taxi industry
Roiled by the most aggressive moves yet by ride-hailing operators Grab and Uber in the past year, the seven taxi firms here are in for a period of reckoning, experts said.
Today Online

Over 150 people duped of $12m in bogus Chinese official scam
In a statement yesterday, police said the victims have lost more than $12 million to scammers who pretend to be officials from the Chinese Ministry of Public Security or Chinese Interpol.
The New Paper

NTUC FairPrice extends 3% Pioneer Generation discount for another year
The three per cent discount for seniors shopping at NTUC FairPrice outlets will be extended for another year to December 31, 2018, the supermarket chain announced on Thursday (Dec 28)
Today Online 

Singaporean, Malaysian tourists flock to Karimun for year-end holiday
Singaporean and Malaysian tourists have flocked to Karimun regency in Riau Islands for Christmas and New Year’s.
Asia One 


Feature photo Dickson Phua


Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Singapore morning news by AEC News Today is your one stop source for Singapore news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.


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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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