Singapore Morning News For May 22

Singapore Morning News For May 22

Singapore morning newsSingapore adopts PEPPOL Standard to launch nationwide e-invoicing framework
On 21 May, it was announced that Singapore will be implementing the Pan-European Public Procurement On-Line (PEPPOL) e-invoicing standard. This move makes Singapore’s Infocomm Media Development Authority (IMDA) the first national PEPPOL authority outside of Europe and the first National Authority in Asia to adopt the standard.
Open Gov Asia

Chan Chun Sing calls on ASEAN to deepen economic integration | Video
Trade and Industry Minister Chan Chun Sing called on ASEAN to deepen economic integration so that the world sees the bloc as a single market.
Channel News Asia (video)

Why Singapore remains a role model for managing national savings
RECENT news about Middle Eastern governments redesigning the institutional architecture of their sovereign wealth funds (SWFs) has prompted much debate about best practices in sovereign asset management.
The Business Times 

Singapore’s IMDA introduces Digital Economy Framework for Action to promote collaboration
The Digital Economy Framework for Action comprises three thrusts: (1) Accelerate digitalisation journeys of industries and companies, (2) Strengthen Singapore’s ability to compete internationally, and (3) Transform the ICM sector.
Open Gov Asia 

Japan, Singapore defense chiefs meet before summit
Japan’s Defense Minister has held talks with his Singaporean counterpart ahead of the planned US-North Korea summit to be held in the Southeast Asian country.
NHK World 

Stop Hong Kong’s shipping industry exodus to Singapore by spending reserves on loans and cutting profits tax, advisers say
Hong Kong should cut profits tax by half and provide loans for vessel owners and supporting professionals to lure shipping business back from regional rival Singapore, a task force set up by the government says.
South China Morning Post 

Citizens’ reactions to PM Lee’s speech, ‘More than one qualified candidate for next prime minister’
“More than one qualified candidate to succeed me; and I certainly expects a clear front-runner to emerge before Singapore’s next general election,” Prime Minister Lee Hsien Loong said in the Parliament on Wednesday (16 May).
The Online Citizen 

Singaporeans must have ‘global mindset, global skillsets’: Chan Chun Sing
Singaporeans at every level of society need to have a deep understanding of the type of forces that can impact them, especially as the external environment undergoes changes, said Trade and Industry Minister Chan Chun Sing.
Channel News Asia 

Singapore researchers announce new breakthrough in conquering blood cancer
A team of Singaporean scientists announced on Monday that they have made a breakthrough in treating blood cancers, the Straits Times reported.
Xinhua Net 

Singapore’s wealth management business dominates Asian competition
It’s favoured for its stability, but Hong Kong could beat it soon due to the growth of Chinese wealth in the area.
Singapore Business Review 

Singapore to host world’s largest trademark event in 2020
Singapore has been chosen to host the world’s largest trademark event in 2020, announced the International Trademark Association (INTA) on Monday (May 21).
Channel NewsAsia 

Singapore hopes Trump-Kim summit will advance prospects for peace: Maliki
Singapore looks forward to hosting US President Donald Trump and North Korean leader Kim Jong Un for their historic summit next month, and hopes it will help advance prospects for peace on the Korean Peninsula, Senior Minister of State for Defence and Foreign Affairs Maliki Osman said on Monday (May 21).
The Straits Times 

Singapore firms could have lost billions that would amount to six per cent of city state’s GDP through cyber attacks
Some local companies may not realise the severity but cyber security could lead to major financial losses.
South China Morning Post

Manpower Ministry to conduct labour force survey on 33,000 Singapore households
THE Ministry of Manpower (MOM) will be conducting a labour force survey on 33,000 Singapore households over two months starting on Monday.
The Business Times

ICA seizes 6,000 cartons of cigarettes hidden among printer parts
The Immigration and Checkpoints Authority (ICA) has seized 6,000 cartons of duty-unpaid cigarettes that were concealed among printer parts and roller scanners.
Channel News Asia 

Japan supports Singapore’s push for a regional code for air encounters
Japan supports the establishment of a code for unplanned encounters between military aircraft in the air, Japan’s Defence Minister Itsunori Onodera told visiting Singaporean counterpart Ng Eng Hen on Monday (May 21).
The Straits Times 

NTU Singapore and Peking University offer Double Masters Programme to groom finance talent
The full-time Double Masters Programme will help early- and mid-career executives stay up to date with new competencies in the industry, including emerging technologies in fintech and blockchain.
Open Gov Asia 

Singaporean economy likely to have expanded in Q1 2018, inflation to have accelerated year-on-year
Singapore’s economic growth data for the first quarter is set to be released this week. According to a DBS Bank research report, the economy is likely to have grown 4.5 percent year-on-year and 2 percent on a sequential basis in the March quarter.
EconoTimes

Home Team launches simulation centre to train commanders in handling large-scale emergencies
A new Home Team Simulation Centre that trains commanders in incident management and operational decision-making was launched by Home Affairs and Law Minister K Shanmugam on Monday (May 21).
Channel News Asia (video)

Strong prospects in Asean, but firms face hurdles to regional expansion: survey
COMPANIES are keen to tap the growth prospects in Asean, but find it tough to overcome regulatory barriers, identify suitable business partners and hire the right talent to support growth, a new survey has found.
The Business Times

National fleet: Singaporean liner cancels deal over duty, tax laws
Plans by the Federal Government to facilitate a national fleet for Nigerian ship owners has suffered a setback as Pacific International Lines (PIL), a Singaporean liner, pulled out of the trade agreement it signed with the Federal Government because of duty and tonnage laws.
Hellenic Shipping News 

More stroke rehabilitation centres to open islandwide
S3 Centre, a wellness centre that supports and rehabilitates stroke patients, is planning to expand beyond its current premises at Lengkok Bahru to five centres islandwide by 2022.
Channel News Asia (video)

Iswaran in Paris to deepen France, Singapore innovation and tech links
MINISTER-IN-CHARGE of Trade Relations S Iswaran is visiting Paris this week as part of the France-Singapore Year of Innovation 2018, which aims to ramp up innovation and research linkages between the two countries.
The Business Times

Singapore crane supplier Tat Hong to delist after StanChart PE-backed takeover bid
Singapore-based cranes supplier Tat Hong Holdings Ltd could soon be delisted from the Singapore Exchange after its chief executive and managing director Roland Ng and Standard Chartered’s private equity arm have offered to acquire 90.31 per cent of the company’s shares.
DealStreetAsia

 

Feature photo Michael Coghlan

 

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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