Saturday , November 17 2018
Breaking News


Malaysia, Singapore like twins, says Dr M


SINGAPORE: Prime Minister Dr Mahathir Mohamad today said he hoped to continue Malaysia’s good relations with Singapore, describing the two countries as twins who were slightly different in size, with “the elder twin a little bit bigger and older than the younger twin”. “But we have been able to live together on reasonably harmonious terms,” he said in his speech ... Read More »

Russian cybersecurity firm Group IB to open global HQ in Singapore: CEO

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MOSCOW: Russian cybersecurity company Group IB is to open a global headquarters in Singapore this year or in early next as part of international expansion plans, chief executive Ilya Sachkov said. Sachkov, 32, is a co-founder of the Moscow-based company which was set up in 2003 and focuses on investigating high-tech crimes and online fraud. Its clients include banks, energy ... Read More »

Singapore box volumes increase in October


Singapore : The port of Singapore has moved higher container throughput in October both on a year-on-year and month-on-month comparisons, according to data from the Maritime and Port Authority of Singapore (MPA). Singapore registered volumes of 3.15m teu in October, an increase of 6.4% compared to 2.96m teu seen in the same period of last year, MPA figures showed. Last ... Read More »

Tourist spending in Singapore slips 1.7% in Q2 despite 8% rise in visitor arrivals


Singapore : OVERALL tourism spending the second quarter of this year declined 1.7 per cent to S$6.6 billion, compared to the same period last year, said the Singapore Tourism Board (STB) in its quarterly report on Friday. This was despite some 4.6 million visitors arriving in Singapore between April and June this year, an 8 per cent increase on the ... Read More »

Singapore Reaffirms Support for BRI


Singapore and the Chinese city of Chongqing have signed a series of memorandum of understandings (MoUs) to improve links in trade, finance, technology and transport. The MoUs were signed during the inaugural Singapore-Chongqing Financial Summit on November 2 in Chongqing, which was attended by more than 500 government officials and businesspeople from China and Southeast Asia. As well as agreements ... Read More »

New Zealand beats Singapore in ease of doing business rankings


Pulau Ujong : Singapore can improve by making property registration and electricity application easier.Singapore clinched the second spot in the ease of doing business rankings by the World Bank where it scored 85.24. It lagged behind New Zealand which bagged the first place with the score a score of 86.59. The report noted that the top three economies in the ... Read More »

Singapore exchange makes first physical palm oil delivery

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SINGAPORE : The Asia Pacific Exchange (APEX), which started trading palm oil futures in Singapore this year, has completed the cargo loading for the first physical delivery under its contract, a company spokesman said. The inaugural delivery of 4,000 tonnes of palm olein took place last week in Indonesia’s Dumai port, from where the product will be shipped to Pakistan, ... Read More »

Engie to relocate Asia Pacific headquarters to Singapore


SINGAPORE : French gas utility Engie SA said on Monday it will relocate its Asia-Pacific headquarters to Singapore from Thailand’s capital Bangkok next year and plans to more than double its workforce in the region over the next decade. Engie currently employs about 4,000 staff in the Asia-Pacific, which contributes US$3 billion to its global revenues, the company said in ... Read More »

Singapore to Build Digital Twin Port


The Port Authority of Singapore (MPA) has opted to build a 3D Printing and Additive Manufacturing Centre that will allow it to build a digital twin port. Dr Lam Pin Min Singapore’s Senior Minister of State for Transport opened the Centre of Excellence in Modelling and Simulation of Next Generation Ports (C4NGP). The new centre will be run by the ... Read More »

US Treasury sanctions 2 Singapore firms for NKorea dealings

A woman walks near the Wee Tiong building in Singapore Friday, Oct. 26, 2018. An executive of one of two Singapore companies named by the U.S. Treasury Department this week for violating sanctions against North Korea said Friday that he was unaware of any such dealings. The Treasury Department said in a statement Thursday, Oct. 25 that the companies, commodities trading house Wee Tiong (S) Pte. Ltd. and ship management services company WT Marine Pte. Ltd., engaged in laundering money for North Korea. (AP Photo/Annabelle Liang)

SINGAPORE : An executive of one of two Singapore companies named by the U.S. Treasury Department this week for violating sanctions against North Korea said Friday that he was unaware of any such dealings. The Treasury Department said in a statement Thursday that the companies, commodities trading house Wee Tiong (S) Pte. Ltd. and ship management services company WT Marine ... Read More »

Driverless hover-taxis to take off in Singapore


Singapore : Millions of commuters in the region’s cities have to contend with chronic gridlock every day, sparking a race to develop new ways to avoid the snarl-ups. While the developed city-state of Singapore does not suffer major congestion, it is seen as a perfect test-bed for new technologies due to its compact size and openness to innovation. German firm ... Read More »

EU emerges as champion of free trade with Singapore deal

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Singapore : Against the backdrop of rising protectionism and a raging trade war, two stout proponents of free trade have shown there is another way: a free flow of goods and services. The European Union and Singapore signed the EU-Singapore Free Trade Agreement, which will boost services, improve market access, and see tariffs between both parties eliminated in five years. ... Read More »

Man arrested for importing more than S$520,000 of fake goods to sell


SINGAPORE: A 21-year-old man has been arrested for allegedly importing more than S$520,000 worth of counterfeit bags, wallets and watches, which he intended to sell, the police and Singapore Customs said in a joint release on Monday (Oct 15). About two weeks ago on Oct 4 and Oct 5, Singapore Customs inspected two consignments at a warehouse at Woodlands Industrial ... Read More »

Companies eye Singapore for data centre storage, cloud leasing


Singapore : WHEN it comes to big data, Singapore is going large. More companies are looking to lease existing buildings for data storage, and some tech companies are building their own facilities. With the announcement from Google and Facebook that they are setting up data centres here, this burgeoning new sector has been thrust into the limelight. Across the Asia-Pacific, ... Read More »

Singapore is the world’s best place for expats: study


Singapore is the crowd favourite of expats, according to a study by HSBC. It bested New Zealand, Germany, and Canada, amongst others. The Expat Explorer survey found that Singapore ranked third in economics, sixth for experience categories and 5th in family indicators. The study also noted that 36% of expats in the city state came from Europe, 32% came from ... Read More »

La Ville relaunched for collective sale at $152m

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La Ville is once again up for collective sale for $152m as no bids were received when its tender closed on 19 July, JLL revealed. With a land area of 47,012 sq ft, the freehold development is home to 40 units. It is zoned “residential” with an allowable gross plot ratio (GPR) of 2.1 under the 2014 Master Plan with ... Read More »

Singapore Imposes Fines, Restrictions Over Uber-Grab Deal


SINGAPORE:Regulators fined ride-hailing firms Grab Inc. and Uber Technologies Inc. and imposed operating restrictions on the former after ruling that a merger earlier this year was anticompetitive. The Competition and Consumer Commission of Singapore said Monday it would fine Uber 6.6 million Singapore dollars (US$4.8 million) and Grab S$6.4 million. Restrictions on Grab will include a ban on exclusivity agreements ... Read More »

ABS to Class Singapore’s First LNG Bunker Barge


ABS was selected by FueLNG Pte Ltd to class Singapore’s first LNG bunker barge. The vessel is scheduled to begin construction in January 2019. “This project is an important milestone for the region and is a key component of Singapore’s strategy to become the world’s largest bunkering port,” said ABS Vice President Global Gas Solutions, Patrick Janssens. “LNG as fuel ... Read More »

ICA seizes 800 cartons of contraband cigarettes from roof of lorry at Woodlands Checkpoint


SINGAPORE : The Immigration and Checkpoints Authority (ICA) seized 800 cartons of contraband cigarettes from a Malaysia-registered lorry at the Woodlands Checkpoint on Saturday (Sept 22). In a Facebook post on Monday, ICA said its officers found the lorry, which was carrying empty plastic cases, to be suspicious after it was scanned. Further checks uncovered 800 cartons of duty-unpaid cigarettes ... Read More »

Hakovo claims a first with global electronic bill of lading backed by P&I clubs


Singapore start-up Hakovo claims to be the first digital freight marketplace to offer an electronic bill of lading (e-bill) for containerised cargo. The Hakovo Assured e-bill was developed in partnership with E-Title, one of only three e-bill systems worldwide recognised by the International Group of Protection and Indemnity (P&I) Clubs. “Hakovo Assured eBL will not only provide higher levels of ... Read More »