Singapore

Singapore to freeze number of cars on its roads

Singapore, one of the most expensive places in the world to buy a vehicle, has announced it will freeze the number of private cars on its roads from next year but vowed to expand public transport.The growth cap for all passenger cars and motorcycles will be cut from 0.25 percent a year to zero with effect from February, the Land Transport Authority (LTA) said.The affluent city-state of 5.6 million people already imposes a quota on the number of vehicles sold and the number on its roads, and h

24 October 2017
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Singapore to develop solar power and storage systems

Singapore plans to develop solar power and energy-storage technologies as the oil-trading hub of Asia pushes to generate more of its power from renewable sources.The city-state is testing floating power projects in its reservoirs, a technology that could help solar meet as much as a quarter of electricity demand by 2025, Deputy Prime Minister Teo Chee Hean said Monday in a speech opening Singapore International Energy Week.

23 October 2017
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Singapore venture capital surges as startups grow

Singapore is experiencing a surge in venture capital fundraising, reflecting growing interest in Southeast Asia’s startups.This month, Vertex Ventures and two other venture-capital firms completed fundraising efforts in the city, each with their largest fund yet.

23 October 2017
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ASEAN Roundup: October 16 - 22, 2017

TensionsTensions have risen in Southeast Asia over the past week, particularly in Myanmar and the Philippines. Scores of Rohingya refugees who were fleeing their homeland in northern Rakhine state of Myanmar found themselves stranded at the Bangladeshi border.

22 October 2017
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Singapore's gaming giant poised to raise $850 mln

Singapore’s Sea plans to price shares at 15 dollars in its initial public offering and raise more than 850 million dollars, according to people familiar with the matter.The total amount may be more than one billion dollars if an option to sell additional shares is exercised, said one of the people, asking not to be identified because the matter is private.

20 October 2017
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Singapore's Dymon Asia hedge fund to raise $600 mln

Dymon Asia Capital (Singapore), the hedge fund manager that made its name betting on macro-economic themes, plans to raise an additional 600 million dollars for a stock fund as it expands its equity business, said President Jay Luo.The Dymon Asia Equity Fund oversees more than 400 million dollars, made up of mostly internal capital and money from Singapore state-owned investment company Temasek Holdings, Luo said.

20 October 2017
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Jokowi wants to create 10 new Balis

As China’s burgeoning class of affluent travellers seek out more exotic destinations, Indonesia is cashing in.China is on track to become the biggest tourist market for Indonesia for the first time this year, overtaking Singapore. That’s after a 46 percent surge in visitors from the world’s second-largest economy to 1.4 million in the first eight months of the year.

20 October 2017
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AI could hold key to ASEAN prosperity

Artificial Intelligence (AI) has become a polarising subject in recent years. There are technology luminaries who are avid proponents, like Mark Zuckerberg, and those who have shared serious misgivings, like Elon Musk.Much of the opposition to AI development hinges on a concept once found in science fiction novels – AI’s ability to outthink and outmanoeuvre humans.Recent examples, like Google’s AlphaGo defeating 18-time Go champion Lee Sedol, have given the public a reason to pause. Why?

18 October 2017
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Is ASEAN the new breeding ground for startups?

The startup sector has exploded globally with investors on the lookout for the next "Facebook". This has inspired technology entrepreneurs to create their own companies and sell their ideas to the world in hopes of being the next Mark Zuckerberg.

16 October 2017
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‘Hungry Ghost’ month affected home sales in Singapore

Singapore home sales fell in September as developers marketed fewer projects in a month considered inauspicious by Chinese homebuyers.Developers sold 657 units last month, down from a revised 1,246 in August, according to Urban Redevelopment Authority data released Monday. That’s the lowest sales since January.

16 October 2017
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Emma the robot masseuse gets deployed in Singapore

A robot masseuse named Emma is offering Singaporeans high-tech back rubs with a gigantic metal arm and warm silicone tips which its creators say perfectly mimic the human touch.The robot, the brainchild of local startup AiTreat, began work at a clinic in the city-state this week and performs "tui na", a type of massage practised in traditional Chinese medicine.Emma, which stands for Expert Manipulative Massage Automation, consists of a white metal arm with heated silicone tips that

13 October 2017
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