Singapore Morning News For May 8

President’s address 2018: Key priorities of the Government
In her first President’s address, held on Monday evening, President Halimah took the opportunity to lay out the global and local scenes as well as the issues that our government intends to address.
— The Independent Singapore

MAS and key government agencies collaborate to strengthen the AI ecosystem in Singapore’s financial sector
MAS is collaborating with the EDB, IMDA and IBF to accelerate the adoption of AI in Singapore’s financial sector through: (1) developing AI products, (2) matching users and solution providers, and (3) strengthening AI capabilities.
— Open Gov Asia

Singapore MVNO offers public transit riders free data
Singapore mobile virtual network operator (MVNO), Circles.Life, is offering public transit riders free data of up to 1GB a month.
— ZDNet

Commentary: Is the uptick in the Singapore economy deserving of greater optimism?
The Ministry of Trade and Industry (MTI) announced in April 2018 advanced estimates of Singapore’s real gross domestic product (GDP) growth of 4.3 per cent year-on-year in the first quarter this year, higher than the 3.6 per cent growth in the previous quarter driven by strong manufacturing (of 10.1 per cent) and stable services growth (of 3.8 per cent).
— Channel NewsAsia

1,700 SG Ambassadors trained and ready to serve
A batch of 1,700 Silver Generation (SG) Ambassadors are ready and raring to go after completing their training.
— The Straits Times

Grab unveils new services, says Uber merger talks with competition watchdog ‘going well’
Giving an update on the merger deal between Grab and Uber, the ride-hailing company’s Singapore head Lim Kell Jay said talks with the Competition and Consumer Commission of Singapore (CCCS) are “going well”.
— Channel NewsAsia

Singapore banks humming along, but trade woes offer pause
SINGAPORE banks appear to be firing on all cylinders in the first quarter of 2018, with loan growth at a healthy clip and much of the bad loans behind them. All three banks are expecting loan growth of just under 10 per cent for the full year.
— The Business Times

4G leaders need to build new compact with younger Singaporeans: Analysts
President Halimah Yacob’s address to open the second session of the 13th Parliament was a reminder for the fourth-generation leaders and younger Singaporeans to forge a new compact as the country moves forward, analysts said.
— Channel NewsAsia

Cooperation, competition keep the Singapore-London relationship going
AS Lord Mayor of the City of London, and a global ambassador for the UK’s financial and professional services sector, I am often asked for my views on the direction of our industry.
— The Business Times

Can inclusion power Singapore’s fintech boom?
The Monetary Authority of Singapore has made “financial inclusion” a top priority for the city-state’s booming fintech investment scene. Fintech firms in Singapore last year attracted a record $229 million in funding, defying the broader decline of fintech investing in Asia after a red-hot 2016.
— Impact Alpha

Singapore HSFO supply tightness may ease in H2 May on arrival of blending stocks
Supply tightness in the Singapore high sulfur fuel oil market is expected to ease in the second half of May when blending stocks to make on-spec fuel oil arrive in the city state, trade sources said Monday.
— Hellenic Shipping News

Text100 to drive Singapore and HK communications strategy for tech firm Xero
Marketing communications agency Text100 has been appointed by Xero – a global small business accounting platform, with over one million subscribers in more than 180 countries – to drive its strategic communications in Singapore and Hong Kong.
— Mumbrella Asia

Fledgling ventures aim to make money from cutting food and packaging waste
To tackle food waste, Mr Nicholas Lim did not simply spread the word among his friends and family.
— Today Online

Singapore leaders must not be ‘content to tweak things at the margins’: Halimah Yacob
Singapore is doing well and the Government is fulfilling the tasks it set out to accomplish, but “do not assume that Singapore will always continue to be successful”. This is why its leaders must not take the “wrong approach” in making incremental, instead of bold, changes, said President Halimah Yacob on Monday (May 7).
— Channel NewsAsia

New ride-hailing app Filo to launch in Singapore soon – promises to be cheaper than taxis
Since the departure of Uber, many ride-hailing service providers have emerged in the Singapore market in a bid to fill this gap.
— Asia One

Body of missing diver Jake Seet found in sea off Sentosa
The body of Singaporean diver Jake Seet who went missing on Saturday (May 5) has been found.
— Channel NewsAsia

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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 May 8 added by Leakhena Khat on May 8, 2018
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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.