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Business

Lay-offs and unemployment rose while job vacancies fell in 2016

Singapore labour market went through its roughest patch in 2016. The condition is shown in the official full-year data released by the Ministry of Manpower (MOM) on Wednesday (15 Mar). Unemployment rose, and employment grew at a slower pace while rate of re-entry into employment among residence made redundant also fell. The number of job vacancies fell, lowering the job …

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SPH signs joint venture agreement with China’s ZBJ Network to develop B2B bilingual online creative services

Singapore Press Holdings (SPH) signed a Joint Venture Agreement (JVA) with ZBJ Network, Inc., China’s largest online creative services platform on Sunday (26 February). SPH said that under the JVA, both companies will develop the first of its kind B2B (Business to Business) bilingual online creative services platform targeted at Small and Medium Enterprises (SMEs) in Singapore, Malaysia and other …

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CASE: Motorcar industry tops consumer complaints for 5th year in a row

The motorcar industry received the highest number of complaints for the fifth year in a row, notably for defects in cars, highlighted the Consumers Association of Singapore (CASE) in its release on consumer complaints on Friday, 17 February 2017. The number of complaints for the motorcar industry increased slightly from 2,907 complaints in 2015 to 2,916 in 2016. The beauty …

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‘Grab 4 Indonesia’ 2020 Master Plan: Grab to Invest USD 700 Million

JAKARTA – Grab, the leading ride-hailing platform in Southeast Asia, has launched its ‘Grab 4 Indonesia’ 2020 master plan, endorsed by Badan Koordinasi Penanaman Modal (BKPM), the Government of Indonesia’s Investment Coordinating Board. Under the plan, Grab will invest USD 700 million (S$988.5 million) in Indonesia over the next four years to support Indonesia’s goal of becoming Southeast Asia’s largest …

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CCS clears Nissan’s 34 percent acquisition of Mitsubishi’s shares

The Competition Commission of Singapore (CCS) has cleared Nissan Motor’s acquisition of a 34 percent shareholding in its rival Mitsubishi Motors, the competition watchdog said on its media release. The media release on 6 February informed CCS had issued its clearance decision for the transaction to the two companies on 23 Jan 2017. In October last year, Nissan had acquired …

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DBS launches DBS FasTrack for pre-order and pay food using Koufu App

The Development Bank of Singapore (DBS) has just launched its unique DBS FasTrack for F&B businesses in Singapore. Marking this launch, Koufu, one of Singapore’s leading foodcourts, will become the first foodcourt in Singapore to debut the full implementation of DBS FasTrack at shopping mall 100 AM on Tras Street. The public can order and pay for their meals via …

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Three new members appointed to respective boards of SMRT Trains Ltd

Singapore Mass Rapid Transit (SMRT) Trains Ltd announced its three new members that have been appointed to the respective Boards. SMRT Corporation Ltd stated that it had appointed Mr Seah Moon Ming as a Director and the Deputy Chairman, and Mr Lee Fook Sun as a Director with effect from 1 January 2017. While SMRT Trains Ltd also had appointed …

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Trump formally withdraws US from Trans-Pacific Partnership

US President Donald Trump has formally withdrawn from the Trans-Pacific Partnership (TPP) trade deal. He signed the executive order, following through on his promise in his presidential campaign. “We’ve been talking about this for a long time,” Trump said as he signed the executive order in the Oval Office on Monday (23 Jan). He called the move is a ‘great …

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ABOS: Asia-based executives still expect growth amidst rising political and economic risks

Asia Pacific – The ways in which governments are responding to political and economic risks have an impact on businesses within the Asia Pacific region, according to The Economist Corporate Network’s (ECN) 2017 Asia Business Outlook Survey, “Navigating Asia’s risks and rewards”. Around 50-60% of those surveyed indicated that countries such as Indonesia, Myanmar, Vietnam and India are responding to …

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