Daily Archives: May 31, 2011

Certificate of Entitlement (COE) prices for small and large cars have hit new record highs in Singapore's latest bidding exercise, with premiums for small cars rising by 6.25% to S$93,503 and for large cars by S$116,201. Goods vehicles and buses saw a decrease in COE prices, while motorcycle premiums fell.

Sri Lanka's president has warned of more economic pain as the country undertakes strict austerity measures to restore its finances after an IMF bailout deal. The deal, which was lauded as a milestone, is only the first step in a difficult journey that will require structural reforms, including tax hikes, anti-corruption laws, and the sale of state-owned companies. The country defaulted on its foreign debt last year, leading to shortages of food, petrol, and electricity, among other issues. Trade unions have opposed the austerity program, with strikes affecting the health and transport sectors.

Tencent's net profit fell 16% YoY in 2022, earning 188.2 billion yuan ($27.3 billion), as China's tech sector faced increasing regulatory scrutiny over anti-competitive behavior and data security.

Opinion: The formula for success for a nation is not as simple as paying the world’s highest salaries, and you attract the best, the brightest, the most talented to run the country.

Netizens in Singapore have expressed skepticism about the United Nations' (UN) recent World Happiness Report ranking that places Singapore and Taiwan among the happiest countries in East Asia. Some netizens argue that Singaporeans face various sources of stress in their daily lives, including the cost of living and other financial concerns. Others suggest that although Singapore may rank high in terms of standard of living and quality of life, these come at a high price of a monotonous lifestyle and breakneck pace of city living.

Malaysians Against Death Penalty and Torture (MADPET) expressed disappointment at the delay by Prime Minister Anwar Ibrahim's PH-led government in tabling Bills to abolish the mandatory death penalty, despite assurances. MADPET called for immediate action as the Dewan Rakyat Parliamentary session ends on 4 April.

China's state-backed company, China Civil Engineering Construction Corporation, has won a $170 million contract to develop the international port in the capital of Solomon Islands, Honiara, marking a significant victory in China's bid to gain strategic influence in the South Pacific. The Solomon Islands has become a diplomatic battleground between China and the United States, with major infrastructure projects in the region increasingly reliant on Chinese investment.