Singapore Morning News For May 3

Singapore Morning News For May 3

Singapore morning news

Singapore’s 2017 economic growth to dip to just 1.9%
Singapore is poised to end the year with a 1.9% economic growth, slightly lower than 2016’s 2% expansion.
— Singapore Business Review

Singapore: Clean energy firm Sunseap’s valuation climbs to $143m in latest funding
Singapore-based renewable energy firm Sunseap Group Pte Ltd has raised S$6.7 million ($4.8 million) in its Series C round of investment led by ISOTeam Ltd, a building maintenance and estate upgrading firm.
— Deal Street Asia

Singdollar at lowest this year against ringgit
The Singapore dollar traded at S$1 to RM3.0948 on Wednesday morning (May 3), the lowest the exchange rate has been since the start of the year, showed Bloomberg data.
— Today Online

Singapore Airlines launches biofuel-powered flights
Flag carrier Singapore Airlines (SIA) has launched its first flight powered by sustainable biofuels, the airline said in a joint press release with the Civil Aviation Authority of Singapore (CAAS) on Wednesday (May 3).
– Channel NewsAsia

CCT sells One George St. for $1.18b
CapitaLand Commercial Trust announced that its trustee HSBC Institutional Trust Services has sold One George Street for $1.18b, turning it into a limited liability partnership, which it will own 50% of.
— Singapore Business Review

Singapore aims to be LNG bunker-ready by 2020
Singapore is gearing up to refuel the growing number of ships powered by cleaner liquefied natural gas (LNG) instead of dirty fuel oil.
— The Straits Times

Singapore: Advancer Global raises $3.5m from MES Group
Singapore-based workforce solutions and services provider Advancer Global plans to raise S$5 million ($3.5 million) via a private placement by MES Group Holdings. Proceeds from the transaction will be used for expansion and working capital needs, the company said in a statement.
— Deal Street Asia

UOB to end the year with a 4.5% loan growth
UOB can expect its net interest income to expand in the coming quarters as it records higher loan growth.
— Singapore Business Review

Singapore April factory activity expands at slower pace
Factory activity in Singapore grew at a slightly slower pace in April than the previous month due to a decline in new orders, exports, inventory and employment, a survey showed on Tuesday.
— The Edge Markets MY

NUS MBA ranked 22nd globally for finance careers
The National University of Singapore’s Master of Business Administration (MBA) programme has been ranked 22nd in the world for careers in the finance industry by the Financial Times.
— The Newpaper

Grab and Uber employ ‘ambassadors’ to woo rival drivers
Armed with just his mobile phone, Sam (not his real name) takes Uber rides from 10am to 7pm from Monday to Friday and earns $8.50 an hour for doing so.
— The Newpaper

Singapore and US reaffirm strong bilateral economic ties
Minister for Trade and Industry (Industry) S Iswaran and United States Secretary of Commerce Wilbur Ross reaffirmed the robust and long-standing economic ties between Singapore and the US at a bilateral meeting yesterday. The meeting took place at the sidelines of Mr Iswaran’s visit to Los Angeles to attend the Milken Institute Global Conference.
— Today Online

IE Singapore paves way for SMEs to break into India market
WHEN local food manufacturer Tong Garden wanted to build a manufacturing plant in the Indian state of Gujarat, the company turned to SKP Business Consulting, an Indian professional services firm, for guidance to register the land there.
— The Business Times

Shortage of skills, not jobs, a key threat to Singapore
Should Singapore be hit by higher unemployment, it will be because of a shortage of skills — as a result of the widening jobs-skills mismatch — and not a lack of jobs.
— Today Online

Singapore shares open 0.4% higher on Wednesday
SINGAPORE stocks opened 0.4 per cent higher on Wednesday, with the Straits Times Index moving up 12.86 points to 3,223.97 as at 9.02am. The blue-chip index was buoyed after Wall Street edged higher overnight as traders digested a slew of corporate earnings.
— The Business Times

Factory activity expands in April for 8th straight month
Manufacturing activity expanded for the eighth consecutive month in April, although at a slower rate. Economists expect the expansion to continue, but likely to ease from the earlier months’ pace of growth.
— Today Online

Singapore woman jailed for filming gym-goers in changing room
A woman in Singapore has been jailed for 30 weeks for secretly filming other women in a gym changing room, according to local media.
— BBC News

Singapore hopes to be part of Laos’ growth story, says PM Lee
Laos’ leaders have ambitious plans for their country, and Singapore hopes to be part of Laos’ growth story, Prime Minister Lee Hsien Loong said yesterday.
— The Straits Times

Singapore wants innovators to solve ‘real life problems’
The wealthy Southeast Asian island of Singapore wants entrepreneurs to help it become the world’s first smart nation.

Singaporean in coma medically evacuated from Tokyo dies
A Singaporean man who was medically evacuated from Tokyo thanks to a crowdfunding campaign died on Tuesday (May 2), shortly after arriving in Singapore.
— Channel NewsAsia


Feature photo Slivester
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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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Stella-maris Ewudolu

Journalist at AEC News Today

Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005.

Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.

She joined AEC News Today in December 2016.

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