Singapore Morning News For July 5

Singapore Morning News For July 5

Singapore morning news

Singapore regulator urges law change for sound financial system
The Monetary Authority of Singapore (MAS) is calling for a second reading of a Bill that it says will ensure a sound and resilient financial system for the city-state.
BankingTech 

PM Lee hopes for reconciliation with siblings in wake of Oxley row
Prime Minister Lee Hsien Loong on Tuesday (Jul 4) welled up with emotion in Parliament as he expressed regret over a family spat which has gripped the nation in recent weeks.
Channel NewsAsia 

Economic costs of train breakdowns hard to add up but unlikely to be high: dons
THE cost of recent rail disruptions on the Singapore economy is not easy to quantify, and even if it were, may not amount to much, according to two dons.
The Business Times

Deal made to sell house for S$1 to appease siblings
Mr Lee Hsien Yang had wanted to buy 38 Oxley Road for S$1 jointly with his sister Lee Wei Ling, from their brother Prime Minister Lee Hsien Loong — to whom founding PM Lee Kuan Yew had willed the house.
Today Online 

Infosys Finacle ties up with Singapore firm for AI in banking services
Infosys Finacle, part of Infosys-owned subsidiary EdgeVerve Systems, on Tuesday announced a partnership with Singapore-based fin-tech company Active.AI to offer enterprise Artificial Intelligence (AI)-based platform for banks globally.
Business Standard 

Singapore Airlines tops global airline ranking
The flag carrier of Singapore has taken the top spot in the world airline ranking published by AirHelp, a technology company that provides legal services to airline passengers travelling into or out of the European Union.
Star2 

Courses providing lifelong learning for Singaporean workers expected to increase
The number of courses in autonomous universities and polytechnics supported by the Ministry of Education (MOE) and the SkillsFuture Singapore agency has grown from some 2,200 to about 2,600 between 2015 and 2016, and this trend is expected to continue.
Today Online 

New technology for eye surgery to be rolled out to more S’pore hospitals
Despite spending most of his working hours outdoors inspecting heavy machinery over the last decade, sun protection was never a priority for businessman Tan Beng Wee, 61, who found wearing sunglasses and hats “inconvenient”.
Today Online 

Will electronics’ spark wane for Singapore’s manufacturing output?
Singapore industrial output’s only hope could turn out to be its bane in the coming months.
Singapore Business Review 

Ascott Residence Trust divests two properties in China
Ascott Residence Trust entered into conditional sale and purchase agreements to divest its interests in two serviced residence properties in China –Citadines Biyun Shanghai and Citadines Gaoxin Xi’an – for RMB 980m or approximately $198m.
Singapore Business Review 

Competition between serviced and private residences to intensify
The Urban Redevelopment Authority announced that the minimum stay duration for private residential properties has been lowered from six months to three months.
Singapore Business Review 

Insurtech Firm in Singapore Launch
Delta Insurance Singapore, (Delta) the first cyber, technology and financial lines Lloyd’s Coverholder in Singapore, has opened for business.
finews asia 

Many blue-chip bond issuers not buying credit rating story
IT seems that for some of Singapore’s blue-chip companies, it would take more than a grant to get them to obtain credit rating for the bonds they sell as they have no problems accessing the very liquid debt market.
The Business Times 

A&W to return to Singapore in 2018: Report
American fast-food chain A&W will set up shop in Singapore again, after exiting the market more than 10 years ago.
Channel NewsAsia 

Interactive activities for visitors at Changi Airport Terminal 4 open house
Be among the first to check out Changi Airport’s new Terminal 4 (T4) during its open house from Aug 7 to 20.
Channel NewsAsia 

Buildings built before 1974 may need fire-safety upgrade
In light of a deadly tower fire in west London last month, the authorities here are reviewing legislative amendments to require some old buildings in Singapore to perform fire-safety upgrades.
The New Paper 

COSCO Shipping International (Singapore) Co., Ltd. (SGX:F83) MF Rank in the Spotlight
COSCO Shipping International (Singapore) Co., Ltd. (SGX:F83) has a current MF Rank of 13433. Developed by hedge fund manager Joel Greenblatt, the intention of the formula is to spot high quality companies that are trading at an attractive price. The formula uses ROIC and earnings yield ratios to find quality, undervalued stocks. In general, companies with the lowest combined rank may be the higher quality picks.
Buckeye Business Review 

Why Singapore will survive its latest political scandal
Chirag Agarwal says governance is regarded as serious business in the city state, with many Singaporeans taking a pragmatic view of politics, while high ministerial salaries and strict curbs on political lobbying keep the government clean
South China Morning Post 

Singapore fintech startup Instarem raises $13 mn to expand payment infra, Mumbai ops
nstarem, a Singapore-headquartered cross-border payments company founded by Indian-origin entrepreneur Prajit Nanu, has raised $13 million in a Series B funding round led by Chinese venture capital firm GSR Ventures, a company statement said.
VCCircle 

Cybercrime cost world economy $620 billion last year
Just last year, cyber crime cost the global economy over US$450 billion (S$620 billion), and this number is only expected to grow, with estimates that it will hit US$3 trillion by 2020.
The New Paper 

 

Feature photo Atelierdreiseitl
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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