Singapore Morning News For November 16

Singapore’s MAS announces US$19.8mil grant to promote AI, data analytics in financial sector
The Monetary Authority of Singapore (MAS) announced details of a new S$27million (US$19.84 million) artificial intelligence and data analytics (AIDA) grant under the Financial Sector Technology and Innovation (FSTI) Scheme.
— Digital News Asia

A*Star scientists find new way to tackle drug-resistant tuberculosis
A group of scientists from the Agency of Science, Technology and Research (A*Star) has developed a new way to combat drug-resistant tuberculosis that will cut down the dependence on antibiotics in treating the disease.
— Today Online

60% of new private school grads found full-time jobs, average starting pay of S$2,550
Six in 10 graduates from private education institutions found full-time jobs within six months after graduating, drawing an average starting monthly pay of S$2,550, an inaugural employment survey has found.
— Today Online

Prudential, StarHub to Launch Blockchain Trade Platform In Singapore
Insurance giant Prudential has teamed up with Singapore telco StarHub to launch a blockchain-based digital trade platform for small and medium-sized enterprises (SMEs).
— CoinDesk

Singapore, Malaysia equities fall as lower crude price damps energy sector stocks
Singapore and Malaysia shares extended losses on Wednesday after crude oil prices slipped overnight and Wall Street weakened.
— Nikkei Asian Review

Australian who sought S$6.7m from Resorts World Sentosa over accident settles for S$750,000
An Australian national who was hit by a car belonging to Resorts World Sentosa in 2011 reached a S$750,000 settlement with the company on Wednesday (Nov 15), despite initially seeking damages of S$6.7 million.
— Channel NewsAsia

Singapore, Malaysia conduct joint exercise at Second Link
A car carrying a prominent businessman and three passengers “collided” with a truck carrying 20 drums of hydrochloric acid – resulting in five of the drums falling onto the road and leaking. One drum “fell” into the waters below, though it remained sealed.
— The Straits Times (paywall)

28 injured in Singapore metro train collision
A Singapore mass transit train bumped into another at a station on Wednesday injuring 28 people, authorities said, the latest mishap on the transit system in a city state that has long prided itself on its efficient public services.
— South China Morning Post

MAS issues guidelines on digital token offerings
The central bank has issued a paper on digital token offerings on Wednesday (Nov 15), to provide a “general guidance” on what could or could not be regulated in relation to the tokens.
— Today Online

Chicago Firm DRW to Open Singapore Bitcoin Trading Desk
Chicago and Singapore are two cities that are becoming synonymous with bitcoin. The Windy City is home to CME and DRW, two major financial firms that are capitalizing on the rise of bitcoin, while Singapore is embracing all things crypto. The news that DRW is poised to open a Singapore trading shop for bitcoin thus makes perfect sense in a move that will enable DRW to ramp up its Asian operations and attract major clients.
— Bitcoin

Singapore bucks slow productivity trend
Productivity slowdown is being observed around the world, due to drivers like weak investment, ageing populations, and falling wages. However, Singapore could be one of the countries managing to buck against the trend, Standard Chartered (SC) said.
— Singapore Business Review

Singapore keen on initial coin offerings
Singapore’s central bank is “very keen’’ to facilitate fundraising through “good” initial coin offerings rather than following other Asian regulators and ban such activity.
— The Financial Times

NUS graduates the 16th most employable in the world: Survey
Graduates from the National University of Singapore (NUS) are the 16th most employable in the world, according to a global survey.
— Channel NewsAsia

NTUC updates its constitution to serve all working people in Singapore
All working people – including freelancers, migrant workers, as well as professionals, managers, executives and technicians (PMETs) – will soon be able to receive assistance and have their needs addressed by the labour movement.
— Channel NewsAsia

Private school grads find  it harder to get jobs: Survey
Fresh graduates from private education institutions (PEIs) are finding it harder to secure full-time jobs than their peers from autonomous universities (AUs).
— The New Paper

Price of seafood, vegetables to rise during monsoon
Vegetable prices are also expected to spike due to a lower harvest during the monsoon.
— The New Paper

Electronics surge expected to continue in 2018; global outlook rosy
ELECTRONICS manufacturers in Singapore are looking to another strong year in 2018, after a slew of new product launches – including the iPhone X – helped lift growth in the sector this year.
— The Business Times

Blockchain-based digital trade platform for SMEs to debut in 2018
SINGAPORE’S first blockchain-based digital-trade platform for small and medium enterprises (SMEs) will be ready come the first quarter of the new year. Called Fasttrack Trade (FTT), it will enable SMEs to seek business partners, buy and sell goods and buy insurance on a single
— The Business Times

Singapore regulator says would consider trialling certain ICOs
Singapore’s financial regulator would consider trialling some initial coin offerings in a regulatory sandbox, if such fundraising efforts are by companies focused on new technology that will improve the efficiency of capital markets.
— DealStreetAsia

Feature photo Aapo Haapanen
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.

Singapore Morning News For November 16 added by Leakhena Khat on November 16, 2017
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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.