News

Singaporeans should be happy with their monthly income rising by 4.2% over the year. According to OCBC, the median monthly income of residents in full-time employment rose faster than the marginal growth of 0.5% in 2009.

Credit card bills increased by 16.6% mom to $2.6b, according to OCBC. On the other hand, bad debts fell to 10.6% mom to $14.3m. Monetary aggregates accelerated to 17.9% yoy(M1) and 10.0% (M2) respectively in Oct, up from 17.1% and 8.2% in September.

The cargo division of Singapore Airlines agreed to pay S$63.4 million or US$48 million as criminal fine for US price fixing scam. According to Reuters, U.S. Justice Department said that Singapore Airlines Cargo plead guilty for the price fixing scam. The plea and the payment of US$48 million should be approved by the U.S. District Court.

The median monthly income from work of residents in full-time employment up 4.2% to $2,710 in 2010.

Trialists can make everyday mobile payments, including bus and train fares, with their existing mobile handsets.

97% of businesses in Singapore perceive their domestic regulatory and taxation environment to be business friendly. According to ICAEW Global Enterprise Survey 2010, Singapore businesses are most positive about the impact of continuing globalisation.

70% of consumers rated mobile broadband as an important service despite having access to free public Wi-Fi. This is according to Acision’s research which was conducted by Toluna.

An increase of up to $5,609 million came in for the total operating receipts in the Food and Beverage industry. However, according to the Singapore Department of Statistics, a decrease of 1.6 per cent came in for the operating receipts on a per establishment basis.

Jones Lang LaSalle said the 6% y-o-y increase in retail sales in July 2010 and the 18% y-o-y increase in tourism arrivals indicate renewed consumer confidence and growth for retailers in the next 12 months.

Moody’s says the negative impact brought about by the current trend of commercial tenants shifting into newly built offices and out of properties owned by S-REITs should be only temporary.

The bank signed a Cooperation Agreement with Finansia Syrus Securities Public Company Limited and its subsidiary, ACL Securities Co.support institutional clients of BNP Paribas trading on the Thai Stock and Futures Exchanges.

The technical consumer goods market grew by only 0.2% q-o-q in 3Q, with market value standing at S$851m as consumers are choosing to postpone spending on consumer electronics and other valuables for the meantime.

The world’s largest Shari’ah-Compliant REIT opens its doors to a pool of investors who require their investments to be made in accordance with Shari’ah investment principles.

But things are slowing up with just a 2.2% growth over September, pointing that we may be close to the peak. According to HSBC, the number points to a pick up in activity in Q4 led by pharmaceuticals, but output growth will slow next year with the end to the global restocking cycle. Still, with capacity to remain tight despite the slowdown in growth to a more sustainable pace, the MAS has to continue its tightening stance.

D’Leedon will be the first condominium in Singapore to be designed by internationally-renowned Pritzker Architecture Prize winner Zaha Hadid.

The government's move to put up 14,300 housing units for 1H11 indicates its resolve not to restrict supply that leads to continual asset inflation.