Singapore Morning News For June 16

Singapore exports down 1.2% in May, second straight month of declin
Non-oil domestic exports (NODX) in Singapore fell by 1.2 per cent in May over the same time last year, according to statistics released by trade agency International Enterprise (IE) Singapore on Friday (Jun 16), continuing its slide from the previous month.
— Channel NewsAsia

Singapore Exchange to Trial Blockchain Verification for Diamond Trading
Singapore Diamond Investment Exchange (SDiX) is working with Kynetix, which develops blockchain-powered commodity marketplaces; and Everledger, which uses the tech to track the trade of diamonds. The three firms are working on an authentication proof-of-concept aimed at creating verifiable trails for precious stones.
— CoinDesk

Singapore ranks 7th in global innovation index
SINGAPORE was ranked seventh among the world’s most innovative countries and first in South-east Asia, according to the Global Innovation Index 2017.
— The Business Times

Foreign companies’ application to support Pink Dot rejected
A group of foreign companies, including Facebook, Google and Uber, had written to the Singapore police asking for permission to support this year’s Pink Dot event.
— Today Online

Civil servants to get mid-year bonus of 0.5 month
The Government will be paying a mid-year Annual Variable Component (AVC) of 0.5 month to civil servants in July, slightly higher than what was given last year, the Public Service Division (PSD) said on Thursday (June 15).
— Today Online

Scoot and Tiger to merge as Singapore Airlines consolidates budget
Two budget carriers under the Singapore Airlines (SIA) umbrella will merge into a single brand from next month, it was announced Thursday, as the company consolidates to fend off growing competition.
— The Star Online

Singapore: GIC participates in $563m deal to develop oil & gas infra in US
Singapore’s sovereign wealth fund GIC, Alinda Capital Partners and Alberta Investment Management Company have made an initial commitment of $563 million to a joint venture developing crude oil and natural gas infrastructure in the US.
— Deal Street Asia

The EU Singapore Free Trade Agreements Cannot Enter Into Force, EU Court Rules
On 17 October 2014 the European Union and Singapore concluded negotiations a comprehensive Free Trade Agreement (the “EUSFTA”). The EUSFTA should have then been signed, ratified and would have subsequently entered into force. However, the EUSFTA has ended up being the battlefield of a dispute between the European Commission (who negotiated the EUSFTA on behalf of the EU) and the Member States of the EU, regarding the former’s exclusive competence to negotiate comprehensive trade agreements.
— JD Supra

Google Cloud Platform launches in Singapore
Google has switched on its cloud platform in Singapore, after experiencing 100 percent growth of paid customers in the region over the last 12 months.
— ZDNet

Upbeat mood holds sway despite drop in developer sales in May
SINGAPORE developers’ private home sales fell by about a third (34.3 per cent) between April and May 2017.
— The Business Times

Dispute not just a family affair, says Lee Wei Ling
LEE Wei Ling on Thursday said she and her brother Lee Hsien Yang would not have issued a public statement if the dispute with their brother, Prime Minister Lee Hsien Loong, over their late father’s house “were merely a family affair”.
— The Business Times

81% of workers prioritise flexibility when job hunting
Around 81% of workers in Singapore are pointing to flexibility as a top consideration when weighing up an offer from a potential new employer.
— Singapore Business Review

Developer sales shrink 26.5% in May
Private homes sold by developers last month shrunk by 26.5% to 1,024 units compared to April when there was a total of 1,394 units sold.
— Singapore Business Review

Will exports still provide a boost to Singapore’s economy?
Singapore’s export strength has been giving a fillip to its economy after emerging from the YoY contraction in November 2016.
— Singapore Business Review

Singapore bond issuance slumps 45.8% to US$4.5b
Primary bond offerings from Singapore-domiciled issuers reached US$12.8b so far this year, a 23.2% decline in proceeds after a strong period during the first half of 2016, as local companies tapped both domestic and offshore bond markets to raise funds, data from Thomson Reuters said.
— Singapore Business Review

Govt has made position on Pink Dot support clear: MHA on foreign firms’ appeal
The Government has made clear its position on foreign support for Pink Dot, the Ministry of Home Affairs (MHA) said on Thursday (Jun 15) in response to queries about a letter by several foreign companies asking the Singapore Police Force for permission to support the event this year.
— Channel NewsAsia

NTUC FairPrice launches Australian formula milk range for under S$35 a tin
NTUC FairPrice on Thursday (Jun 15) introduced a new range of formula milk previously only available in Australia, amid concern over the rising cost of formula milk in Singapore.
— Channel NewsAsia

Singapore should chip in for Green Climate Fund
In “With US out of climate pact, others have to do more with less: DPM Teo” (June 6), there is a question of whether Singapore will contribute to the United Nations’ Green Climate Fund.
— Today Online

A Look at Singapore Airport Te (SPASF)’s Technicals
Technical analysis is an investing tool used to judge commodities along with attempting to forecast their future moves by analyzing trading activity statistics. Where fundamental analysts evaluate the intrinsic value of a security, technical analytics scrutinize charts of price movements and forecast future pricing through various analytical tools in order to evaluate a security’s strength or weakness.
— Nelson Research

Online hiring spikes up by 28% in Q1
There is a recorded net increase of more than 3,900 unique online jobs in the first quarter of the year across nine key job sectors in Singapore, Job Tech revealed in its latest report.
— Singapore Business Review

Five Reasons Why You Shouldn’t Miss RSA® Conference 2017 Asia Pacific & Japan
Cybersecurity has been top of mind with WannaCry, the Internet of Things, and new government regulations dominating technology conversations today.
— Digital Journal

Singapore: Temasek in contention for stake in Israeli firm Netafim
Six international companies and funds, including Singapore’s state investment fund Temasek Holdings, have made it to the second round of bidding for buyout group Permira’s 61.3 per cent stake in Israeli irrigation firm Netafim, according to Israel’s Calcalist financial newspaper.
— Deal Street Asia

Philippines climbs on gains in property stocks; Singapore falls
Philippine shares rose on Thursday, driven by gains in real estate stocks, while Singapore was headed for a third session of fall in four, dragged down by financials.
— The Edge Markets

Feature photo Leakhena Khat
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 16 added by Leakhena Khat on June 16, 2017
View all posts by Leakhena Khat →

Bio
Latest Posts

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.