News

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.

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.