Markets

Electric car-sharing service to roll into Singapore

An electric car-sharing service will be launched in Singapore in December, in what the company behind the scheme said Wednesday was a first for Southeast Asia.BlueSG, a subsidiary of France's Bollore Group, said that 80 cars and 30 stations where vehicles can be picked up and dropped off would be operational by the end of the year.The group plans to roll out 1,000 of its custom-built Bluecars by 2020, as well as numerous stations and charging points.The affluent city-state – whose genera

27 September 2017
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No women on the board of these Asian billionaires

Even by Asia’s low standards when it comes to having women on corporate boards, the progress of the region’s billionaires is lagging: Most of the richest men in China, Japan and South Korea run companies with few, if any, female board members. The situation is particularly extreme among Asia’s biggest tech companies with billionaire founders.

26 September 2017
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Singapore cryptocurrency firms facing bank account closures

Singapore banks have closed accounts of several companies which specialise in providing cryptocurrency and payments services, according to two local bodies which represent financial-technology firms.Noting that cryptocurrency firms have had similar problems with their banks in other countries, the head of Singapore’s Cryptocurrency and Blockchain Industry Association, or Access, asked the government to step in.“From our analysis, it appears to be common among leading FinTech hubs,” Access Cha

26 September 2017
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Stable Vietnam currency aids central bank in growth push

Vietnamese working abroad and sending money home will help keep the currency stable and enable the central bank to focus on supporting economic growth, a senior official said.Nguyen Hoang Minh, deputy head of the State Bank of Vietnam in Ho Chi Minh, said remittances to the city are forecast to rise 10 percent to 5.5 billion dollars this year, helping ensure enough supply of foreign currency.

26 September 2017
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The great port relocation in Singapore

Singapore Prime Minister, Lee Hsien Loong announced in his annual National Day address in 2013 that the Singaporean government will be relocating its existing port operations to a new location in Tuas by 2027. This relocation is expected to free up land in Tanjong Pagar where the current port is located.

26 September 2017
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Gadfly: SoftBank can't count on perpetual fans in Asia

Masayoshi Son has found a new breed of believers: yield-hungry Asian investors.SoftBank Group has already issued 7.9 billion dollars of dollar-denominated bonds this year, but there's a key difference versus other offerings.These notes are unique in that they cater specifically to Asian investors.

26 September 2017
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Indonesia: Asia's maritime gateway to the west

Much like how the ancient trade functioned when the Western civilisation of the Roman Empire began to trade with the Chinese Empire in the first century for wool, silver and gold, the maritime silk road in the 21st century is named OBOR (or One Belt, One Road) as it is poised to become a passage way that would contribute to the widespread of trade across the world, while a coherent blueprint is set to interconnect international infrastructures in order to maintain the national interest of the

22 September 2017
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Rail connections: A major boon for ASEAN's economy

Rail connection projects that are currently taking place in ASEAN (Association of Southeast Asian Nations) countries are expected to be a major boon and catalyst for the region’s economic growth in the coming years. Infrastructure development is vital for developing economies as it promotes and sustains economic growth.

22 September 2017
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Philippines is the region's lone rate hike candidate

With Indonesia and Vietnam cutting interest rates in the past two months and Thailand fending off pressure to do the same, the Philippines is emerging as the region’s lone candidate for a rate increase this year.While all economists surveyed by Bloomberg predict Bangko Sentral ng Pilipinas (the Central Bank of the Philippines) will hold its benchmark rate at a record-low of three percent on Thursday, a separate poll showed almost half forecast an increase by the fourth quarter.

21 September 2017
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Uber reviews Asia dealings amid US criminal probe

Uber Technologies, facing a federal probe into whether it broke laws against overseas bribery, has embarked on a review of its Asia operations and notified US officials about payments made by staff in Indonesia, people with knowledge of the matter said.As the Justice Department looks into a possible criminal case, Uber is working with law firm O’Melveny & Myers to examine records of foreign payments and interview employees, raising questions about why some potentially problematic busi

20 September 2017
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Medical tourism booming in Southeast Asia

Southeast Asia’s medical tourism industry has experienced rampant growth in the recent years driven by quality healthcare delivery services, competitive rates and reputable medical expertise. Among the popular destinations in ASEAN (Association of Southeast Asian Nations) for medical tourism are Thailand, Singapore and Malaysia.

19 September 2017
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