Singapore morning news for October 24

Singapore morning news for October 24

Singapore morning newsHow Singapore is redesigning retirement using biometrics
The Central Provident Fund (CPF) Board of Singapore has redesigned its mobile app to make information on retirement savings easier for citizens to access.
— Gov Insider

Singapore core inflation dips to 1.8% in September
SINGAPORE – Singapore’s core inflation came in at 1.8 per cent last month, dipping slightly from August’s 1.9 per cent.
— Straits Times

Nearly half of low-income students in Singapore attend the same schools: OECD report
Nearly half of low-income students in Singapore are concentrated in the same schools, a report by the Organisation for Economic Cooperation and Development (OECD) has highlighted
— Straits Times

Dyson founder, a Brexit backer, criticised for taking its first electric car plant to S’pore
Dyson, 71, a British inventor and electric appliance maker, has picked Singapore as the site for its first electric car plant.
— Mothership

Banks fall from grace as lending and non-interest income takes blow
The volatile stock markets may bring about as much as 15% decline in non-interest income for DBS and OCBC.
— Singapore Business Review

Singapore’s public transport fares second most affordable among 12 cities, NTU study shows
A Nanyang Technological University study commissioned by the Public Transport Council (PTC) has found that Singapore’s public transport fares ranked second most affordable among 12 major cities.
— Straits Times

Iillegal medicines and products seized in Interpol-led operation
The Health Sciences Authority (HSA) targeted local websites to seize illegal health products here as part of the 11th edition of Operation Pangea, an Internet-based operation led by Interpol.
— The New Paper

Asian shares retreat as Chinese growth concerns sink in
SINGAPORE (AP) — Asian stocks slid on Tuesday as worries about softening Chinese growth rattled investors, following a rally that was not picked up by Wall Street overnight.
— AP

Singapore students outdo parents in education: Report
Singapore ranks among the top in the world when it comes to upward mobility in education, with nearly six in 10 adults attaining higher qualifications than their parents.
— The New Paper

Getting Singapore’s hawker culture on Unesco’s list: Committee set up to prepare nomination bid
A 14-member committee has been appointed to oversee and guide the effort to nominate Singapore’s hawker culture for inclusion in Unesco’s intangible cultural heritage list.
— TodayOnline

Fragrance industry renews focus on safety, sustainability and partnerships at Singapore launch event
The International Fragrance Association (IFRA) launched its Asia-Pacific branch office on Monday with a promise to renew its focus on safety, sustainability and partnerships in the region.
— AEC News Today/PR Newswire (media release)

Dyson to make electric cars in Singapore
British electric appliance pioneer Dyson said Tuesday it had picked Singapore as the site for its first electric car plant as part of a £2.5 billion (107 billion baht) global investment drive in new technology.
— Bangkok Post

SingPass Mobile app glitch fixed: GovTech
The glitch that marred the launch of the much-anticipated SingPass Mobile app has been fixed, said GovTech.
— The New Paper

WeChat Pay to be available at over 600 Cold Storage, Giant, 7-Eleven, Guardian shops from Nov 1
To capture a larger slice of the burgeoning Chinese tourist market, retail group Dairy Farm will roll out cashless payment mode WeChat Pay across its stable of more than 600 Cold Storage, Giant, 7-Eleven and Guardian stores here from next month.
— TodayOnline

ICBC Singapore issues $250m offshore bonds
It was soon oversubscribed upon announcement.
— Singapore Business Review

World’s first wearable peritoneal dialysis device shown to be safe for end-stage renal disease patients
AWAK Technologies (AWAK), a pioneering medical technology company focused on dialysis using regeneration technology for end-stage renal disease, today announced positive preliminary results from a recently completed Phase I study investigating the safety of AWAK PD in dialysis treatment for patients with End Stage Renal Disease (ESRD) led by the Singapore General Hospital (SGH).
— AEC News Today/PR Newswire (media release)

Prudential Singapore scraps retirement age for staff
AT Prudential Singapore, age is indeed just a number. The insurance company has removed the retirement age of 62 in its company manpower policy, paving the way for its 1,100 employees to have extended careers and decide when they want to retire, if at all.
— Business Times

e-scooter sharing service bags US$6.4m in seed funding
SINGAPORE-based transportation startup Beam has snagged US$6.4 million in seed funding to launch a shared mobility platform in Singapore and Asia, starting with e-scooters.
— Business Times

Temasek’s first public retail bond over 8 times subscribed
Retail investors made a beeline for Temasek’s first public retail bond offer, leaving it more than eight times subscribed.
— Straits Times

Shipment delays rile backers of KIN wallet project; NUS offers help
Creators of the coin-sorting wallet received more than S$250,000 from the crowdfunding platform Kickstarter, but have struggled to deliver customers’ orders.
— ChannelNewsAsia

Singapore students outdo their parents in education levels
Singapore ranks among the top in the world when it comes to upward mobility in education, with nearly six in 10 adults attaining higher qualifications than their parents.
— Straits Times

Temasek’s Vertex invests in crypto exchange
DUBAI • Vertex Ventures, the venture capital arm of Temasek, said it has invested in Binance to develop a fiat-to-cryptocurrency exchange in Singapore.
— Straits Times

NTU, HP launch lab on smart factory tech
A corporate research laboratory set up in partnership with tech giant HP was officially opened at the Nanyang Technological University (NTU) yesterday.
— Straits Times

Singapore ranks 2nd in transport fare affordability
Singapore has come out second in terms of transport fare affordability in a study of 12 major cities conducted by the Nanyang Technological University (NTU).
— Straits Times

Changi Airport to use audio, video analytics to monitor security
Changi Airport will pilot a Multi-Signal Surveillance Platform which combines audio with video analytics to monitor security incidents.
— Straits Times

Two teens put on probation over upskirt offences
Two teenage boys were each sentenced to one year and nine months’ probation yesterday after they captured over 60 upskirt videos of girls and women, including their schoolmates and teachers.
— Straits Times

SIA likely to fly non-stop to Seattle from next year
If all goes well, Seattle will become SIA’s fourth non-stop destination to the US, as the airline moves to capitalise on a growing demand for Singapore-US flights and the availability of a new, more fuel-efficient aircraft – the Airbus 350-900.
— Straits Times

Temasek’s Vertex Ventures invests in crypto exchange Binance
The investment is geared towards the development of a crypto exchange in Singapore.
— Singapore Business Review

Singapore investors plan to invest one third of wealth into healthcare
They are willing to invest in healthcare maintenance with 46% expecting to reach age 100.
— Singapore Business Review

Mapletree Logistics Trust NPI up 14.6% to $90.19m in Q2 amidst acquisition spree
Distribution per unit also rose to 1.958 cents.
— Singapore Business Review

Semi-retired fishball noodle hawker among 14-member UNESCO hawker nomination committee
If you’ve been following the ongoing discussion about hawker culture, you might have heard about the formation of a nomination committee to aid Singapore’s UNESCO bid for the preservation of hawker culture.
— Mothership

Raffles Infrastructure inks $1.19b deal to build Chinese tourist railways
The railways will have a total length of 70km and will be built in four phases.
— Singapore Business Review

600 retail outlets islandwide in Singapore to accept China’s WeChat Pay from Nov 1
SINGAPORE – Shoppers who forget their wallets on visits to Cold Storage, Giant, Guardian and 7-Eleven will soon be able to pay for their purchases with their mobile phone via WeChat Pay.
— Straits Times

NTU, HP open S$84m lab to develop digital manufacturing technologies
A CORPORATE research laboratory set up in partnership with tech giant HP was officially opened at the National Technological University on Tuesday.
— The Business Times

Digital upgrade failed for 3 in 4 SMEs
But some firms think they could still gain 26% from doing so.
— Singapore Business Review

Vertex Invests in Binance to Expand in Singapore
Vertex Ventures said it made an investment in digital asset trading operator Binance to develop a fiat-to-cyyptocurrency exchange in Singapore.
— Bloomberg (paywall)

Temasek’s Vertex Ventures invests in crypto exchange Binance
The investment is geared towards the development of a crypto exchange in Singapore.
— Singapore Business Review

Prudential scraps retirement age for employees
SINGAPORE (Oct 23): Noreen Wee has been working with Prudential Singapore for 18 years as a lead writer in policy contracts. Now 62 years old, she was set to retire in December this year. But Wee is happy to hear that she can now continue working at the insurance firm – with the same wages and benefits as before.
— The Edge

Two chain collisions within metres from each other during morning rush hour; two hurt
Two separate chain collisions involving eight cars in total took place on the Tampines Expressway (TPE) on Tuesday (Oct 23) morning, with two women being injure
— Today Singapore

LTA swipes back at IKEA, defends cost of its bus stop benches
IKEA made a parody ad that took a swipe at the cost of metal benches at Singapore bus stops. Now, the Land Transport Authority (LTA) has fired back.
— Yahoo News

4 people walk on top of Crawford Bridge arch near Kallang like it’s a normal thing to do
Four people have been photographed walking on top of an arch on Crawford Bridge near the Immigration and Checkpoints Authority of Singapore (ICA) Building at Lavender
— Mothership

Free 30-minute weekend boat ride from Marina Barrage to Floating Platform on Oct. 27 & 28, 2018
Marina Barrage is celebrating its 10th anniversary this year.
— Mothership

Taming volatility of capital flows
“TODAY it is a sin to run a current-account deficit, and that is crazy,” lamented Singapore Deputy Prime Minister Tharman Shanmugaratnam at the annual gathering of the International Monetary Fund (IMF) and the World Bank in Bali this month.
— Business Times

 

Feature photo Ghetto Singapore/ National Archives of Singapore

 

This week’s Singapore morning news feature photo acknowledges World Day for Audiovisual Heritage, October 27.

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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Maria Mirasol Rasonable graduated with a Bachelors Degree in journalism from Polytechnic University of the Philippines, Santa Mesa, Manila, Philippines.

She previously covered police rounds for Philippine Daily Inquirer as a trainee before becoming editorial staff at Gospel Komiks under the Communication Foundation for Asia (CFA-MG), Santa Mesa, Manila where she wrote lifestyle and trending fashion and styles articles.

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