The country of Singapore regulators said Friday they will fine two banks a total of over $5.3 million for having breached money laundering rules in dealings with an indebted Malaysian state fund.
Shopaholics in Singapore can now get ease with the burden of traffic and large crowd as a new app allows them to have a hassle-free Bangkok shopping experience.
A private Singaporean banker is under investigation as he was linked to 1MDB Fund.
The prime minister of Singapore spent a three-day visit in Australia. The two countries had a trade agreement. Its purpose it to strengthen its ties in economy and in defense.
Alibaba is about to acquire Singaporean start-up Lazada for about $1 billion that was established by the German technology Rocket Internet. Existing shareholders including Tesco, AB Kinnevik and Rocket Internet will sell a portion of their shares to Alibaba.
Game developer Ubisoft is expanding its business to the Philippines and will be named Ubisoft Philippines. It will be headquartered in Sta. Rosa, Laguna which is a great geographical site. One reason for the move is the trust established by Filipino employees led by manager Chip Go that was being noticed by Ubisoft Managing Director Oliver de Rotalier.
Australian tech companies are heading to Singapore to support their businesses. Some tech companies are expecting Singapore to be one of the startups landing pads established by the Australian government to help companies access the global business network.
Internet service provider MyRepublic bid to become the fourth mobile-phone carrier in Singapore. The company aim to reach profit within three years of operation.
Singapore's GDP has increased 1.8 % in the fourth quater in 2015. For the full year of 2015, it has increased 2%.
The possible entry of a fourth mobile operator in Singapore due to the country's decision to auction radio frequency has caused much disquiet among the existing telecom operators. Among them, Singtel CEO has been most vocal about this decision, stating her concern about the market getting too focused on price leading to profit reductions and dividend cuts, leaving no scope for innovation.
The Singapore government had slammed certain caps on private housing sector, to cool an overheated market. This has been a rising concern for the city builders, especially after Singapore recorded a repetitive falling graph for 17 years running. However, it remains to be seen if the government deems fit for the bans to be lifted given the current residential property scenario.
Qualcomm Inc. and TDK group tie up to form a $ 3 billion project in Singapore. After completion of the venture by 2017, Qualcomm will own 51% of the new company with a provision to purchase TDK’s stake at a later time. Following the joint venture, Qualcom’s share price has fall a little but TDK share price has jumped by 5.5%, highest change within last two moths.
Asian stocks dropped on low trading volume as commodity producers followed fall in industrial metals and crude oil. Investors and institutions are in the wait and watch mode ahead of US Fed's meeting in December.
After enjoying successful services in several Asian countries, GrabTaxi introduced a carpooling service in Singapore. The service is available for testing on Wednesday in the country. Drivers participating in GrabHitch must provide elligible document and verification checks.
Rovio Entertainment, the maker of Angry Birds, announced it will reduce a third of its jobs mostly in Finland. The Finnish gaming company, Rovio Entertainment, had concluded from negotiations between employees on August 26. Rovio had deliberated it will cut 213 jobs.
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