Singapore Morning News For June 14

Singapore economy at risk from faster-than-expected rate hikes
PRIVATE-SECTOR economists have flagged faster-than-expected interest rate increases as one of the top risks to Singapore’s economy over the rest of the year, according to a new survey.
— The Business Times (paywall)

Economists maintain Singapore’s 2018 growth forecast at 3.2%: MAS survey
Private sector economists have maintained their full-year growth forecasts for Singapore at 3.2 per cent, although they highlighted concerns over trade protectionism and rising interest rates.
— Channel NewsAsia

Toyota makes $1 billion ride-hailing bet in Singapore’s Grab stake
Toyota Motor Corp. is making its largest bet to date on ride hailing with a $1 billion investment in Singapore’s Grab Holdings Inc.
— Business-Standard

Singapore retrenchments fall to 5-year low in Q1 as job vacancies rise
THE labour market continued to show slight improvements in the first quarter of 2018, with retrenchment figures falling to a five-year low and the number of job openings on the rise.
— The Business Times (paywall)

Singapore may have gained over $700m in exposure as host of Trump-Kim summit: Analyst Meltwater
While pundits debate whether the meeting was a success, Singapore itself may have gained more than $700 million in exposure by hosting the historic Trump-Kim summit, according to a media intelligence analyst.
— The Straits Times

As labour crunch looms, rethink on foreign workers may be needed: Analysts
The Ministry of Manpower’s latest labour market report for the first quarter of 2018 was filled with figures that give cause for optimism, but among them was one that put a grey cloud over it: There were more job vacancies in the market than jobseekers.
— Today Online

Japan’s Don Don Donki targets 10 stores in Singapore by 2020
Japan’s Don Don Donki has revealed plans to expand further into Singapore, with a targeted 10 stores by 2020, as well as a store in Bangkok by the end of the year.
— Channel NewsAsia

Darren Smith of Nintendo America to Become BLMP’s VP Of Digital Platforms
BLMP – Blockchain Licensing Market Place, an innovative blockchain platform that is bringing transparency and efficiency to the virtual goods market, has recently recruited Darren Smith to its team.
— AEC News Today/ PR Newswire (media release)

Smoke-free zone in Orchard Road delayed 6 months to end-2018
Smokers are getting a six-month reprieve from plans to make Orchard Road a no smoking zone.
— Channel NewsAsia

With kaya toast and kopi, Singapore food brands went all out to woo foreign media
With all eyes on the Republic playing host to the Trump-Kim summit, a number of homegrown food and beverage companies took the opportunity to showcase brand Singapore to the international media in town to cover the historic event.
— Today Online

Singapore retailers urged to make shopping experience more fun and innovative
Many stores here remain focused on just selling products instead of embracing new retail concepts that stress giving shoppers more memorable experiences, according to professional services firm Ernst and Young.
— The Straits Times

Indonesia sneaks up on Singapore with flurry of port projects
It may not look like much right now, but an 1,800-hectare tract of land on the eastern edge of Java symbolizes Indonesia’s future.
— Nikkei Asian Review (paywall)

Enterprise Singapore opens first overseas office in East Africa
Enterprise Singapore has opened its first overseas office in Kenya to further boost two-way trade and investment flows between the two countries.
— Channel Asia Singapore

BIGO announces possible acquisitions at its official Cube TV launch in Thailand, Malaysia and Vietnam
BIGO officially launches Cube TV in Thailand, Malaysia and Vietnam as part of its expansion strategy and has identified these 3 markets to be its key markets in South East Asia region.
— AEC News Today/ PR Newswire (media release)

US rectifies mistake after locating Singapore in Malaysia on website
The US State Department mistakenly made Singapore part of neighbouring Malaysia in a note issued in connection with Tuesday’s (Jun 12) North Korea-US summit and published on its website.
— Channel NewsAsia

SIA threatens to call police to arrest passengers after delay on faulty aircraft causes passengers to become sick
A video of a commotion on board a Singapore Airlines (SIA) flight has been trending online.
— The Independent Singapore

SPIKING and NEBULAS Partner to Develop Financial Signals Search and Processing Technology for All Blockchains
Spiking, the world’s first blockchain asset validation and AI-driven crypto trading infrastructure, has signed a Memorandum of Understanding with Nebulas to develop its core search technologies.
— AEC News Today/ PR Newswire (media release)

Finance Minister Heng Swee Keat wraps up Japan visit | Video
Finance Minister Heng Swee Keat met Japanese Prime Minister Shinzo Abe on his five-day visit. Channel NewsAsia’s Michiyo Ishida with the full story from Tokyo.
— Channel NewsAsia (video)

This Year’s Best Deal Wasn’t Made in Singapore
On Tuesday, an international conflict that had festered for decades approached resolution, and it wasn’t the Korean one.
— Bloomberg

Equinix to Connect Vocus Australia Singapore Cable in Australia and Singapore
The new subsea cable system offers additional points of presence to address rising interconnection demand between Australia and Southeast Asia
Equinix, Inc. (Nasdaq: EQIX), the global Interconnection and data center company, today announced the Vocus-owned Australia Singapore Cable (ASC) will be accessible in its International Business ExchangeTM (IBX®) data centers in Singapore and across six metros in Australia, including the Cable Landing Station (CLS) in Perth and points of presence (PoP) in Sydney and Melbourne already announced.
— AEC News Today/ PR Newswire (media release)

Feature photo Salmiac

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 June 14 added by Leakhena Khat on June 14, 2018
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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.