Singapore Morning News For October 25

Singapore Morning News For October 25

Singapore morning newsSix clean-energy investments to trigger S$500m in business spending
SIX clean-energy investments secured recently in Singapore will create 400 professional-level jobs and result in S$500 million in cumulative business spending over the next five years.
The Business Times 

Singapore won’t regulate cryptocurrencies, but remains alert to risk: MAS
Singapore doesn’t plan to regulate cryptocurrencies such as bitcoin, but will remain alert to money laundering and other potential risks stemming from their use, the head of the Republic’s central bank said.
Today Online 

Singapore’s Second-Largest Lender Plans a Push Into Hong Kong Research
Singapore’s second-largest lender has decided that the best place to expand its research is the country’s rival market Hong Kong.

S’pore and US to deepen cooperation on multiple fronts as leaders reaffirm mutually beneficial ties
Singapore and the United States have reaffirmed their robust and multi-faceted ties, pledging to deepen economic, defence, counter-terrorism cooperation and people-to-people linkages.
Today Online 

Ecolab opens Asia Pacific HQ in Singapore
Ecolab has opened an Asia Pacific headquarters in Singapore to strengthen its presence in the region.

Singapore becomes most powerful passport in the world
Paraguay removed visa requirements for Singaporeans, propelling Singapore’s passport to the top of Passport Index’ most powerful ranking with a visa-free score of 159.
Business Insider 

These are the 30 startups joining Unilever Foundry in Singapore
Unilever announced today that 30 startups will join its Foundry program in Singapore. The companies are in different stages in their growth, not just early-stage, and come from Singapore, Indonesia, Malaysia, Australia, and even Europe and the US. They were chosen because they operate in sectors that Unilever deems promising for the future.
Tech In Asia 

Singapore’s Frasers Centrepoint Trust’s 4Q Distribution Per Unit Rrises 5.5% On Year
Singapore’s Frasers Centrepoint Trust’s fiscal fourth-quarter distribution per unit rose 5.5% to 2.97 Singapore cents from 2.81 Singapore cents a year ago on higher rental income and improved occupancy, according to an exchange filing Wednesday.
Nikkei Asian Review

China, Southeast Asia aim to build trust with sea drills, Singapore says
China and Southeast Asian navies aim to hold an inaugural joint maritime exercise next year, Singapore’s defense minister said on Tuesday, as they try to build trust amid conflicting claims over the South China Sea.

New Industry Transformation Map launched to create new, better jobs in construction sector
The construction industry is looking to improve work processes by adopting prefabrication methods in more projects and using digital tools to allow various parties involved in the building process to share information.
Channel NewsAsia (video)

Changi Airport conducts full-dress rehearsal ahead of Terminal 4 opening
The 24-hour rehearsal is the final major trial before the terminal commences operations on Oct 31.
Channel NewsAsia (video)

IEA sees Southeast Asia oil demand growing till 2040
Southeast Asian demand for oil will keep growing until at least 2040 as emerging nations there rely on the fossil fuel to transport their rapidly growing populations, ship goods and make plastics, the International Energy Agency (IEA) said on Tuesday.

Full joint statement by Singapore and the US
Prime Minister Lee Hsien Loong and President Donald Trump issued a joint statement on Tuesday (Oct 24) reaffirming a strong and enduring partnership between Singapore and the US.
Channel NewsAsia

Singapore, US reaffirm enduring partnership and cooperation on regional and global issues
Prime Minister Lee Hsien Loong and US President Donald Trump issued a joint statement on Tuesday (Oct 24), reaffirming the two countries’ strong and enduring partnership especially in the economic, defence, security, and people-to-people spheres.
Channel NewsAsia 

Singapore needs to be on guard for inflation pickup: Menon
Singapore’s central bank chief said while inflation is still well below the historical average, policy makers need to be proactive if a stronger economy results in a pickup in price pressures.
The Business Times 

Canadian pension fund Omers opening Singapore office
The office will be located at One Raffles Quay, and is part of the company’s strategy to identify promising investment opportunities in emerging markets, the company said in a press release on Tuesday.
The Business Times 

Record number of companies participate in annual shopping event by 99% SME
More than 5,500 local small- and medium-sized enterprises (SMEs) are participating in a 10-day shopping event during which they offer various deals and promotions to consumers.
Channel NewsAsia 

Changi Airport’s T4 carries out rehearsal as it prepares for Oct 31 launch
Ahead of Terminal 4’s launch on Oct 31, airport operator Changi Airport Group (CAG) carried out a full-dress rehearsal for operations on Tuesday.
The Business Times 

1kg of heroin seized from suspected Singaporean drug trafficker
A 52-year-old suspected drug trafficker was arrested at the traffic junction under the Woodsville Flyover in the early hours of Tuesday (Oct 24), the Central Narcotics Bureau (CNB) said in a media release on the same day.
Channel NewsAsia 

Driverless truck launched at Jurong Island
Belgium-based logistics and engineering firm Katoen Natie launched its driverless truck at Jurong Island on Tuesday (October 24).
Today Online 

80,000 professionals to be trained by 2025 to transform construction sector
To drive productivity improvements in the construction sector, the Building and Construction Authority (BCA) aims to more than double the number of personnel trained in technologies and innovation. It also plans to make jobs in the sector more highly skilled and attractive to young Singaporeans.
Today Online 

New rides will cost more as policy curbs set in next year
The cost of owning a new car is set to rise in the next few years — but it may not be due to the latest move by the authorities to cut vehicle growth rate to zero.
Today Online 

Exclusive: Venturecraft targets $500m for third vehicle, final close slated for Q1 2018
After closing its second fund focused on growth-stage medtech startups at S$50 million last year, Singapore-based VC firm Venturecraft is now targeting to raise up to $500 million for its third fund – Venturecraft III, industry executives aware of the development told this portal.

VCs accumulate up to $2.5b in dry powder for Southeast Asia in last 12 months
This could be Southeast Asia’s moment under the sun. The region is set to record stronger-than-expected economic growth with the Asian Development Bank upping its GDP growth forecast for the region to 5 per cent in 2017 and 5.1 per cent in 2018, up from previous forecasts of 4.8 per cent and 5 per cent respectively.

Wooing Singaporeans to the construction industry
Singaporeans joining the construction industry in the near future may be greeted with digital design and cutting-edge technologies as the Government embarks on an overhaul of a sector that has long struggled to attract local workers.
The New Paper 

Cashless payments must be painless to succeed
The launch of NetsPay in Singapore last week will give a big push to Singapore’s drive to become a cashless society.
The New Paper 

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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