Singapore Morning News For November 8

Singapore Morning News For November 8
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Singapore morning newsNew guidelines proposed on use of NRIC numbers by companies
Singapore’s privacy watchdog the Personal Data Protection Commission (PDPC) has proposed changes to guidelines on how companies handle individuals’ NRIC numbers, collects the physical NRIC or a copy of it.
Channel NewsAsia 

Singapore Is Coaxing Competing Banks to Collaborate on Fintech
Banks in Singapore that are used to competing against one another are finding ways to collaborate in the fintech space — under the encouragement of the Monetary Authority of Singapore.

Fintech investment in Singapore hits $34.52m in Q3
Fintech investments in Singapore are on an upward trajectory hitting $34.52m (US$25.3m) over six deals in Q3, KPMG revealed.
Singapore Business Review 

Fintech boom could raise demand for banking regulators
The growth of jobs in fintech could also mean growth on the other end of regulation, Hays Singapore said.
Singapore Business Review 

Should Singapore change its immigration process?
When I moved to Singapore, I was struck both by the ease with which I received my work pass, and how little was asked of me to get one.

When the haze comes from Singapore’s own backyard
Looking out of the window a fortnight ago, you could be forgiven for wondering if the seasonal haze had returned. Pollutant Standards Index (PSI) readings across the island exceeded the “Good” range for a full week. On Oct 25, PSI readings even reached 80 in the “Moderate” range, one of the highest readings for the year.
The Straits Times (paywall)

First Asia-wide glaucoma treatment trial launched
A trial is being conducted to compare two surgical treatments for advanced cases of glaucoma, with the aim of studying their long-term outcomes and complication rates in an Asian population.
Channel NewsAsia (video)

Singapore leads Asia’s adoption of in-app payment systems
Singapore leads Asia’s adoption of in-app payment systems at 19%, possibly due to the prevalence of transport apps such as Grab and Uber, Paypal revealed.
Singapore Business Review

Ex-HDB chief: Singapore must still aim for population of 10 million
Four years ago, when Dr Liu Thai Ker said Singapore should plan for a population of 10 million to remain sustainable as a country, it raised eyebrows.
The New Paper 

Finance Minister: Corporate giving key to engaging stakeholders
Corporate giving these days is an integral part of how companies engage stakeholders and inspire their employees, said Finance Minister Heng Swee Keat.
The New Paper 

Fall in airfares from Singapore to key destinations this year
Travellers on flights from Singapore to popular destinations such as Jakarta, Kuala Lumpur, Shanghai and New York enjoyed lower fares in the first nine months of this year – with prices falling by more than 5 per cent year on year.
The New Paper 

Here’s what dampened confidence in Singapore’s digital growth
Singapore’s ability to hire workers for digital transformation dampened business confidence in the country, The Economist Intelligence Unit (EIU) revealed.
Singapore Business Review 

Parliament: Stricter rules passed for health claims and sale of food, infant formula milk
Stricter rules on labelling and advertising of food, including formula milk for babies, were passed in Parliament on Tuesday (Nov 7) together with provisions allowing the authorities to act more quickly on food recalls.
Today Online 

Starr is Fully Committed to Singapore Insurance Market
Starr Companies wishes to reiterate its strong commitment to the Singapore insurance market. While Starr has decided to discontinue underwriting new business through the Starr Singapore Underwriting Agents representing its Lloyds Syndicate 1919, Starr International Insurance Singapore Pte. (SIIS), established in 2012, continues to operate normally.

Collecting IC numbers may be outlawed
If the new rules proposed yesterday kick in, it will become unlawful for mall operators and retailers to collect and use shoppers’ identity card (IC) numbers to track parking redemptions, manage their membership accounts and conduct lucky draws.
The New Paper 

Higher fine, new licensing system to protect consumers from errant travel agents
To better protect consumers from rogue travel agents, changes to the Travel Agents Act and Regulations were passed in Parliament on Tuesday (Nov 7). They would take effect from January next year, the Ministry of Trade and Industry said.
Today Online 

Legal age for smoking to be gradually raised from 18 to 21
The Minimum Legal Age (MLA) for the purchase, use, possession, sale and supply of tobacco products will be increased from 18 to 21, said Parliamentary Secretary for Health Amrin Amin on Tuesday (Nov 7).
Channel NewsAsia 

Nice touchdown for SIA Q2, but carrier warns of bumpy ride ahead
SINGAPORE Airlines (SIA) turned in a better second quarter despite a tough environment, buoyed by robust operating results.
The Business Times 

Singapore: MAS coaxes competing banks to collaborate on fintech
Banks in Singapore that are used to competing against one another are finding ways to collaborate in the fintech space — under the encouragement of the Monetary Authority of Singapore.

Man gets 4 years and 9 months’ jail, caning for robbing family of more than S$110k
Masquerading as National Environment Agency (NEA) officers fogging the estate, a 42-year-old man and his gang of four accomplices robbed a family of more than S$110,000, then fled Singapore by hiding in a suitcase.
Today Online 

Are work lapses a systemic problem at SMRT? Analysts weigh in
The near hour-long statement by Transport Minister Khaw Boon Wan on Tuesday (Nov 7) may give SMRT a “temporary reprieve”, but it is unlikely to be enough to quell public frustration and restore confidence in the rail operator, observers told Channel NewsAsia.
Channel NewsAsia 


Feature photo cegoh
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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