Singapore Morning News For July 14

Singapore Morning News For July 14

Singapore morning news

Singapore’s GDP grew by 2.5% in Q2 of 2017
Growth in manufacturing and services helped Singapore’s economy grow by 2.5 per cent in the second quarter from a year ago, the same pace of growth in the previous quarter, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Friday (July 14).
Today Online 

Services growth picks up pace in Q2 at 1.7% y-o-y, manufacturing leads at 8%
GROWTH in Singapore’s services sector picked up pace, according to advance estimates of second-quarter performance, while manufacturing continued to lead overall economic expansion, though at a slower pace.
The Business Times 

FAA and Singapore Sign Aviation Safety Agreement
The Federal Aviation Administration (FAA) signed a milestone Maintenance Agreement Guidance (MAG) yesterday with the Civil Aviation Authority of Singapore (CAAS). The agreement allows for mutual surveillance conducted on certified repair stations located abroad for each of the agreement partners.
Federal Aviation Administration 

Singapore, China enjoy strong bilateral ties that have adapted to changes: DPM Teo
Singapore and China have built a strong bilateral relationship that has adapted with the changing needs of both countries over the years, said Deputy Prime Minister Teo Chee Hean on Thursday (Jul 13) at the FutureChina Global Forum, where he reiterated Singapore’s support for China’s Belt and Road Initiative.
Channel NewsAsia 

The True Cost Of Healthcare In Singapore That Every Singaporean Should Be Aware Of
According to a study by AON, the medical inflation rate of Singapore stood at a high 15% in the year 2015 and 10% in the year 2016. Both numbers exceeded the global rate.
The Independent Singapore 

Singapore: Katrina Group JV; SGInnovate-SC Angels partnership
Katrina Group has formed a joint venture with Ajisen China while SGInnovate has partnered SC Angels to grow the space for logistics startups.

Singapore to launch research on space-based VHF communication
The Civil Aviation Authority of Singapore (CAAS) signed here Thursday a Memorandum of Understanding (MOU) to explore a space-based Very High Frequency (VHF) communications for air traffic management.

Singapore port’s container traffic in June up 8.7% year on year
PORT of Singapore’s container traffic for June came in at 2.8 million TEUs (twenty-foot equivalent units), up 8.7 per cent from a year ago, according to the latest updates by the Maritime and Port Authority of Singapore.
The Business Times 

Singapore retailers see uptick amid recovering economy, switch in tactics
Retail sales in Singapore stalled in May after a strong showing in April but the president of the Singapore Retailers Association believes the uptrend is intact, given the recovering economy and as members change tactics to woo shoppers.
Nikkei Asian Review 

Singapore start-up BeMyGuest raises total of S$11.5 million after Series A funding
Online tour-booking platform BeMyGuest on Thursday (Jul 13) announced a total equity funding of S$11.5 million at the close of its Series A round of funding, with Raffles Venture Partners, travel agency Chan Brothers Group, as well as the investment arm of government agency SPRING Singapore coming on board.
Channel NewsAsia

M Ravi ordered to pay S$2k in costs for ‘senseless’ application
Non-practising lawyer M Ravi was yesterday ordered to pay the Attorney-General’s Chambers S$2,000 in costs for what the Court of Appeal described as a “senseless and frivolous” application he had made.
Today Online 

Rising number of healthcare freelancers prompts call for better support
The number of freelance healthcare workers has soared in recent years, based on figures from industry players.
Today Online 

New designs of public smoking areas on trial
Smokers can light up within a partially boarded-up area at two locations in Orchard Road, as part of a study to examine the effectiveness of different designated smoking area (DSA) designs in reducing smoking activity in the vicinity.
Today Online 

Tanjong Pagar penthouse going for $100m
The asking price for a new three-storey Singapore penthouse, complete with a private pool on the 64th floor, has reached a dizzying $100 million.
The New Paper 

Majority of Singapore CFOs extend counteroffers to retain their employees
Counteroffers in Singapore is still a common practice despite being assumed to be ineffective in today’s competitive employment market.
Singapore Business Review 

Valued possessions and valuing health, in BT Weekend
THINKING of starting a collection in watches, art, cars or furniture? Find out more and get a peep into the prized possessions of four enthusiasts in the BT Weekend magazine this Saturday.
The Business Times 

S$1.82b redevelopment of Golden Shoe Carpark unveiled
IT was, in the words of Lynette Leong, CEO of the manager of CapitaLand Commercial Trust (CCT), “the moment we have all been waiting for”. CapitaLand, CCT and Mitsubishi Estate on Thursday said that they were redeveloping Golden Shoe Carpark into a mixed-use project for about S$1.82 billion before acquisition costs.
The Business Times 

Singapore: Online travel aggregator BeMyGuest raises $8.35m in Series A
Online tour-booking platform BeMyGuest has secured a Series A round of S$11.5 million ($8.35 million) led by Raffles Venture Partners.

Nestle retrenches dozens of employees in Singapore
Nestle has retrenched “a small number” of its employees in Singapore, it told Channel NewsAsia on Thursday (Jul 13), adding that the retrenchments were part of an implementation of new work processes within the company.
Channel NewsAsia 

Singapore advance Q2 GDP lower than anticipated
An initial reading of Singapore’s gross domestic product showed growth undershot expectations in the second quarter as the pace of manufacturing expansion slowed and construction continued to contract.
The Financial Times 

Denmark charges OW Bunker’s Singapore head with fraud
Denmark’s state prosecutor charged the former manager of OW Bunker’s Singapore subsidiary with fraud on Thursday but cleared the Danish management of the failed marine fuel oil supplier of any criminal wrongdoing.
Hellenic Shipping News 

Siemens to open IoT lab in Singapore
Germany’s Siemens will launch its largest “internet of things” technology development hub in Singapore.
Nikkei Asian Review 

Minimum age of private-hire car drivers in the spotlight after fatal Uber accident
“They are scared seeing young Uber drivers practically staring at their Global Positioning System (GPS) apps on their mobile phone during their journey,” said Lance, after dropping the last of his Uber Pool passengers.
Channel NewsAsia 

Golden Shoe Car Park to be redeveloped into one of tallest buildings in Raffles Place
The site of the Golden Shoe Car Park will be redeveloped into a 51-storey “integrated development” housing office space, a serviced residence, multi-storey carpark and retail shops, developers revealed on Thursday (Jul 13).
Channel NewsAsia (video)

Collapsed structure at PIE – one dead, 10 injured
Ten people were injured and one died after a beam from a flyover under construction collapsed earlier this morning (July 14).
The New Paper 


Feature photo Tiberiu Ana
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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