Singapore Morning News For May 24

Singapore Morning News For May 24
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Singapore morning news

Singapore identifies four frontier technology focus areas for digital economy
Minister of Communications and Information, Dr. Yaacob Ibrahim (above) outlined four four frontier technology focus areas for the development of Singapore’s digital economy in his speech at the the Infocomm Media Business Exchange (imbX) opening ceremony.
– Open Gov Asia

Singapore to deploy robot guards to ease worker shortage
A CNBC report said a new niche has been found for intelligent machines which are being deployed from healthcare to restaurants in a government-backed push to ease a workforce crunch,
– Singapore Business Review

Heightened danger in Singapore as cyber attacks increase
Ransomware has rapidly moved from a “nuisance” to a public threat which could now endanger lives, a director of Singapore’s Cyber Security Agency told the CommunicAsia2017 conference on Tuesday.

OCBC launches its private banking unit in Indonesia
OCBC Bank has launched onshore private banking in Indonesia through its 85%-owned subsidiary, OCBC NISP, further entrenching its leading position in wealth management in Asia.
– Singapore Business Review

Temasek, SBI Holdings, HSBC, others invest $107m in blockchain startup R3
Financial and technology companies led by Bank of America Corp, SBI Holdings Inc , HSBC Holdings Plc, Intel Corp and Temasek Holdings have invested $107 million in R3 CEV, a startup which runs a big bank consortium seeking to develop blockchain technology, it said on Tuesday.
– Deal Street Asia

Digital bank account opening trial: What does this mean for Singapore?
The future of banking in Singapore is upon us – and it’s concise, hassle-free, and greener. Earlier in May, four banks began a pilot scheme that would see the opening of bank accounts completely digitalised, using existing citizens’ e-service MyInfo.
– Yahoo Finance/ Zuu online

Haryana signs MOUs worth Rs 18k cr with Singapore firms
A nine-member delegation of the Haryana government, led by chief minister Manohar Lal Khattar, on Tuesday signed five memorandums of understating for projects worth Rs 18,000 crore with Singapore-based companies.
– The Times of India

IFC, Singapore collaborate on fintech innovation
IFC, a member of the World Bank Group, and the Monetary Authority of Singapore (MAS), have agreed to work together to facilitate broader adoption of fintech innovation.
– Hubbis

Global Yellow Pages divests 80% of eFusion Solutions; NYP-Lattice80 partnership
Global Yellow Pages has partially exited a subsidiary while fintech centre LATTICE80 has partnered with Singapore’s Nanyang Polytechnic to launch an internship scheme.
– Deal Street Asia

Larger M&As could be on the cards for SGX
According to CIMB, Singapore Exchange remains committed to diversifying its revenue streams to reduce reliance on the securities market and key derivatives contracts.
– Singapore Business Review

Schools, hospitals can pave the way for use of VR as learning tools
With digital technology being a key driver of growth for Singapore, schools and hospitals can pave the way to use virtual reality (VR) or augmented reality technologies as learning tools.
– Today

Noble says not aware of Sinochem’s change of heart over deal
NOBLE Group Limited said that it was not aware of any reason that could confirm a Reuters report that China’s state-owned Sinochem was no longer interested in investing in the commodity group on the back of commercial concerns.
– The Business Times

All CNG taxis to undergo mandatory inspection by Thursday: LTA
All 950 compressed natural gas (CNG) taxis in Singapore must undergo and pass a mandatory inspection by Thursday (May 24) to stay on the roads, the Land Transport Authority (LTA) has announced.
– Today

What Investors Should Know About The Healthcare Sector In Singapore And Asia
Local bourse operator Singapore Exchange Limited (SGX: S68) invited The Motley Fool Singapore to a media event held yesterday that discussed the healthcare sector in Singapore and Asia.
– The Motley Fool

Commentary: Singapore’s healthcare success did not come cheap or easy
Singapore’s success in providing affordable and accessible acute healthcare is a result of strong controls and measures to promote competition among hospitals, argues one expert.
– Channel NewsAsia

Singapore millennials want to retire early: survey
The latest HSBC report found out that Singapore millennials expect to retire younger than other working age generations despite having the lowest retirement prospects of any generation.
– Singapore Business Review

Man jailed 20 months, fined for taking kickbacks from vendors
A former assistant sales manager at a packaging and labelling company was on Tuesday (May 23) sentenced to 20 months’ jail and ordered to pay close to S$275,000 in penalty for corruption offences related to business contracts he awarded.
– Today


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