Singapore Morning News For July 25

Singapore Morning News For July 25

Singapore morning newsHeadline inflation up first time in 2 years for middle, highest income
HEADLINE inflation for the middle- and highest-income households has risen for the first time in two years, but has been in a sustained decline since the first half of 2015 for the lowest 20 per cent of households by income group.
The Business Times 

SoftBank and Didi hand US$2 billion to Grab, making it SEA’s most valuable startup
GRAB raised US$2 billion from Didi Chuxing and SoftBank Group Corp in the largest-ever venture fund-raising in South-east Asia, as it joins forces with the Chinese company that drove Uber Technologies out of China.
The Business Times 

Singapore must strengthen trust between different faiths amid terror threat: PM Lee
Racial and religious conflicts abroad can affect the perceptions and attitudes of people in Singapore, Prime Minister Lee Hsien Loong warned on Monday (Jul 24), calling on community and religious leaders to continue their efforts in strengthening trust between the different faiths.
Channel NewsAsia

Banks go digital with services for start-ups and SMEs
TWO local banks have launched digital services to help start-ups and small and medium enterprises (SMEs) with their administrative processes, with one bank claiming that it has cut down the process of opening a business account down to 30 minutes.
The Business Times 

Health screening services to face tighter regulations: MOH
Health screening services will soon face tighter regulation as authorities seek to introduce licensing requirements. This will come under a new Healthcare Services Bill, which will replace the Private Hospitals and Medical Clinics Act, the Ministry of Health (MOH) told Channel NewsAsia.
Channel NewsAsia

Singapore-Listed Vard Holdings’ Second Quarter, First Half Net Losses Widen
Singapore-listed shipbuilder Vard Holdings’ second-quarter and first-half net loss for the period ended Jun. 30 widened to 69 million Norwegian krone ($8.60 million) from 67 million krone in the corresponding year-ago quarter, and 96 million krone from 24 million krone, respectively, it said in an exchange filing Tuesday.
Nikkei Asian Review 

Trade associations, chambers pump up the volume under Lead programme
TRADE associations and chambers (TACs) have ramped up productivity and market access projects under the Local Enterprise and Association Development (Lead) programme.
The Business Times

Singapore firm says report about links to North Korea’s luxury goods store is ‘fake’
The boss of a Singapore firm allegedly involved in the running of high-end retail stores in North Korea and stocking them with banned luxury goods has denied any activity of the sort.
Channel NewsAsia 

S’pore firm starts debit card to convert crypto to normal currencies
A RECURRING challenge for bitcoin and other cryptocurrencies is how to make them work in the real world. A Singapore-based startup says the answer is its Visa card.
The Business Times 

AI technology is set to ramp up Singapore’s labour productivity by 41% in 2035 as well as boost economic growth to 5.4% in the same year, according to a new study by Accenture Research.
Staffing Industry Analysts 

Singapore beefs up search, rescue capabilities with new satellite technology
Singapore’s sea and air search and rescue capabilities have been enhanced with its investment in a new medium-altitude earth orbit search and rescue (MEOSAR) ground system, the Civil Aviation Authority of Singapore (CAAS) and Maritime and Port Authority of Singapore (MPA) said in a statement on Monday (Jul 24).
Channel NewsAsia 

SMS usage falls amid rise of chat apps, soft tokens
The roll-out of software-based or “soft” security tokens by banks and government agencies is set to speed up the decline of the humble SMS.
The Straits Times (paywall)

Self-driving buses and robot aides could double Singapore’s growth rate
In technology-proficient Singapore, their integration into the economy could help the domestic growth rate to almost double and significantly lift labour productivity, according to a report by consultancy Accenture.
Today Online 

Judges could order electronic tagging under new bail plans
Judges will have the power to order electronic tagging of accused persons released on bail, and the defence could get less leeway to call its own psychiatric experts, under changes to the law affecting suspects in criminal cases that were proposed yesterday.
Today Online

More offenders could be eligible for community sentences
Seven years after judges were first given leeway to impose community sentences, the Government is seeking “in a controlled way” to give more offenders the same shot at rehabilitation.
Today Online 

Singapore Has the World’s Largest Luxury Car Vending Machine
Vending machines aren’t limited to just food anymore, as it’s now in the business of dispensing cars.

Singapore’s public sector more ready than most for the digital future
WITH the Smart Nation agenda well-established – and now prominently parked under the Prime Minister’s Office as the Smart Nation and Digital Government Office, Singapore has put in place a strong foundation to harness emerging technologies that will define public services of the future.
The Business Times 

Aberdeen Singapore Fund, Inc. Announces Performance Data And Portfolio Composition
Aberdeen Singapore Fund, Inc. (the “Fund”) (NYSE: SGF), a closed-end equity fund, announced today its performance data and portfolio composition as of June 30, 2017.
PR Newswire 

Goldman Sachs warns global oil demand could peak as early as 2024
Global oil demand could peak as early as 2024 if there are more efficiency gains in vehicles, greater market penetration by electric cars, lower economic growth and higher fuel prices, Goldman Sachs said in a research note on refining on Monday.
Business Insider 

Proposed changes to protect child, sex crime victims
And in a first for Singapore, criminal investigators could soon record statements from suspects and witnesses on video.
The New Paper 

More choosing to study nursing
With her straight As, former Dunman High School student Lim Xin Min stood a good chance of studying medicine at the National University of Singapore (NUS) but opted for nursing instead.
The New Paper 


Feature photo Graeme Churchard
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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