News
Singtel and Starhub to offer Google Pixel 3 in Singapore
Singtel and Starhub to offer Google Pixel 3 in Singapore
The local telcos will include Google merchandise as part of their promo.
Huawei joins chipmaking fray with 2 new AI chips for data centres
But it does not plan to directly compete with global chipmakers as Ascend 910 and 310 will not be sold to third parties.
Mapletree Logistics Trust likely to expand footprint into new markets
Mapletree Investments just recently bought a logistics portfolio worth $1.54b in Europe and the US.
Private condo rents down 0.4% in September
Volumes slid 14.8% to 4,199 rented units.
HDB rents slipped 0.5% in September
Volumes dipped 3.8% to 1,690 units rented.
Grab steps up rewards scheme to reduce cancellations by drivers
Riders will also get 100 reward points for each time a driver cancels up on them.
Here's why Singapore is one of the worst countries in reducing inequality
It was pulled down by its tax practices and its low score on public social spending. Although it bested many world rankings, Singapore sank to the bottom 10 countries in terms of reducing inequality, according to a study by international confederation Oxfam International. Ranking 149th out of 157 countries in the Commitment to Reducing Inequality (CRI) Index, Singapore’s score totaled 0.162. It also fell into the 22nd spot out of 23 countries in East Asia and the Pacific in reducing inequality. “It has increased its personal income tax (PIT) by 2%, but the maximum rate remains very low at 22% for the highest earners,” the study said. According to Oxfam, the weak finish by Singapore is partly due to the new indicator on harmful tax practices where it was ranked as the worst of all. Apart from tax, its ranking was also dragged down by its relatively low score in public social spending as only 39% of its budget is allotted for education, health, and social protection. According to Oxfam, this is way behind South Korea and Thailand where 50% of their budget goes into public spending. On labour, Oxfam noted that it has no equal pay or non-discrimination laws for women. They added that laws on both rape and sexual harassment are inadequate whilst there is no minimum wage, except for cleaners and security guards. Denmark, Germany, and Finland managed to get the top three rankings. The US ranked 23rd, way behind Japan (11th) and Canada (18th). Other countries in the bottom 10 are India, Bangladesh, and Laos, amongst others. Nigeria was ranked as the worst when it comes to reducing inequality.
Daily Markets Briefing: STI down 0.47%
Don’t expect gains today.
Chart of the Day: Average returns of big 5 property developer stocks down to -7% in September
UOL's total returns crashed -20.9% YTD in September.
Daily Briefing: Technologists harder to keep in Singapore's tight job market; 59 shop units in Ming Arcade up for sale at $51m
And printing startup Gogoprint raises $10.67m.
La Ville relaunched for collective sale at $152m
Its price may drop to $140.6m depending on unit owners' support.
No economy flyers in world's longest flight by SIA
It allows more space for its cabin that can host 161 passengers.
Singapore's insolvency law gives bondholders a chance to chase default losses
The city state's corporate debt market was hit by more than $1.5b worth of defaults.
Microsoft to invest in Grab
They will also forge alliances to boost Grab's fraud detection, amongst others.
Private condo resale prices down 0.2% in September
Volumes slipped 0.7% to 702 units resold.
Hyflux in ‘advanced talks' with two potential investors
Eight financiers submitted expressions of interest for the embattled firm.
Daily Markets Briefing: STI down 0.88%
Continued trade tensions could hurt the gains today.
Commentary
Bootstrapping in Singapore: How small startups can thrive without investors
How outdated financial solutions are fuelling the SME exodus
The role passwordless plays in securing Singapore’s digital future
Green shipping's future: Strategic partnership between public and private finance
The great Singapore family business transition: Why legacy companies are choosing sales over succession
Why SG60 must mark a cybersecurity turning point
What the global financial crisis can teach Singapore about decision-making today
Singapore is ready for EVs, but the industry needs to catch up
Navigating public–private collaboration in Singapore’s health tech and life sciences landscape