Friday, July 31, 2015
Best Wi-Fi Spot
Outside POSB White Sands
Level Three
Strong signals
Padded seats
Comfortable air-con
Piped-in music
Dimmed Lights
Spain and Ireland
Which are the two fastest growing economies in the eurozone?
Not the big beasts in the core, but the once-struggling peripheral economies of Spain and Ireland.
US Economic Growth
US economic growth accelerated in the second quarter as a pick-up in consumer spending offset the drag from soft business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates.
Thursday, July 30, 2015
Movie Animation Park Studios
The RM450mil (S$161 million) Movie Animation Park Studios (MAPS) project in Meru Raya, Malaysia is proceeding smoothly and is expected to be completed between March and April next year.
Hermes
Hermes said Wednesday it was probing claims of cruelty at crocodile and alligator farms that supply the French fashion house with skins for its luxury handbags and accessories.
Lufthansa
Deutsche Lufthansa AG plans to entice passengers to pay for business-class upgrades on European routes by offering deals when people book economy class tickets and then again when they check in.
Wednesday, July 29, 2015
1MDB Suit
A High Court is set to hear three applications on Sept 25 over the defamation suit filed by Prime Minister Datuk Seri Najib Tun Razak in relation to 1Malaysia Development Bhd (1MDB).
Justice Vazeer Alam Mydin Meera will hear the applications.
Najib had in March sued Petaling Jaya Utara MP Tony Pua and an online news portal's owner for allegedly defaming him over 1MDB.
IOC
The International Olympic Committee (IOC) has signed US$14 billion in deals since the Sochi Winter Olympics last year, a spokesman said Tuesday highlighting the sports body's financial strength.
Malaysia Cabinet
Malaysian Prime Minister Najib Razak sacked his deputy and four other ministers in a cabinet reshuffle on Tuesday, as well as replaced the attorney general.
Tuesday, July 28, 2015
Australia Dollar
After two years of erosion the Australian dollar has finally reached lows that qualify as fair value on many measures, yet analysts are rushing to predict further losses for a currency with a long history of overshooting in both directions.
Many see a slide under 70 US cents as inevitable given a corrosive mix of Chinese risk, a sustained slump in commodity prices and the prospect of higher US interest rates. The only question appears to be how low it might go.
European Stocks
European stocks posted their biggest five- day drop this year amid investor concern over China's economy as shares tumbled in Shanghai and data disappointed.
Ringgit
Malaysia's ringgit hit a 17-year low on Monday as a global slump in commodity prices added to concerns over sluggish exports, while investors braced for a U.S. Federal Reserve meeting that might take another step toward lifting interest rates.
Monday, July 27, 2015
EU Membership
British Prime Minister David Cameron intends to hold a referendum on the country's membership of the European Union around June of 2016, the Independent on Sunday reported.
TPP Trade Deal
Negotiators from the US, Japan and 10 other Pacific Rim countries could put the finishing touches on the most ambitious trade and investment deal in decades when they meet this week in Hawaii.
Sunday, July 26, 2015
Amazon Inc
Amazon.com Inc surpassed Wal-Mart Stores Inc. as the world's biggest retailer by market value after a surprise second-quarter profit sent the e-commerce company's stock into record territory.
The Economist
The Economist Group could become the latest British media business to undergo a change of ownership this year as its co-owner Pearson focuses on education, bankers and industry sources said.
Saturday, July 25, 2015
US New Home Sales
New US single-family home sales fell in June to their lowest level in seven months and May's sales were revised sharply lower, in what appeared to be a minor setback for the housing market recovery.
Federal Reserve
The Federal Reserve said it inadvertently released on its public website confidential economic projections prepared by its staff for the June 16-17 meeting of the policy- making Federal Open Market Committee.
Friday, July 24, 2015
Nestle
As Nestle SA slugs it out with India's food regulator over the amount of lead in its popular Maggi instant noodles, the dispute is whipping up business for insurers.
Nikkei Inc
Japanese publisher Nikkei Inc agreed to acquire Pearson Plc's FT Group for 844 million pounds to gain control of the Financial Times newspaper.
Thursday, July 23, 2015
Oil
Oil prices fell on Wednesday, with US crude for September hitting a contract low, as US government data showed oil inventories unexpectedly rose last week and equity markets suffered from disappointing trading results.
COE 22 July 2015
Certificate of Entitlement (COE) premiums for passenger cars continued to tumble on Wednesday in the second tender for July as bookings for new cars slowed down.
Category A - for cars below 1,600cc and 130hp - slipped S$2,811 to S$55,889, which was the lowest this year.
Cat B - for cars above 1,600cc or 130hp - fell S$7,392 to S$58,109.
Cat E - the open category was S$8,900 lower at S$60,101 - also the lowest this year.
Elsewhere, Cat C - for goods vehicles and buses - notched up S$1 to S$50,002 but Cat D - for motorcycles - dropped S$196 to S$6,312.
Wednesday, July 22, 2015
China's Economy
Mr Tung Chee Hwa, who was Hong Kong's first chief executive and is now vice-chairman of the 12th Chinese People's Political Consultative Conference's National Committee, said China's economy will keep growing at 7 per cent in the coming years.
Acronis
Acronis, which provides back-up, disaster recovery and other data protection services, will open a research and development (R&D) centre in Singapore. It hopes to make this one of the largest software research facilities in the country within three to five years.
Tuesday, July 21, 2015
ECB
Greece has initiated the process for the payment of a total 6.25 billion euros (S$9.31 billion) to the European Central Bank (ECB) and the International Monetary Fund (IMF), finance ministry officials told Reuters on Monday.
IMF
The International Monetary Fund named Maurice Obstfeld, one of US President Barack Obama's top economic advisers, as its new chief economist on Monday.
Obstfeld, a professor at the University of California, Berkeley, will replace outgoing IMF economist Olivier Blanchard.
Monday, July 20, 2015
Pasir Ris Hawker Centre
A new two-storey hawker centre in Pasir Ris is expected to be completed by the first half of 2017, according to a statement from the National Environment Agency (NEA).
The new centre will offer 45 cooked food stalls to cater to the dining needs of Pasir Ris residents. It will be the first hawker centre in Pasir Ris Town, and will be located within the existing Pasir Ris Town Park.
French Riviera
Beach lovers on the French Riviera expressed their anger Sunday over the imminent arrival of the Saudi royal family, who have ordered a long stretch of beach to be closed off to the public.
Nestled in the rocks between the coastal railway and the translucent waters of the Mediterranean, the grounds of the royal family's immense villa stretches across a kilometre of Riviera coastline between Antibes and Marseille.
Sunday, July 19, 2015
WTO
Trade negotiators tentatively agreed on Saturday to eliminate tariffs on an array of technology products valued at US$1 trillion worth of global commerce.
The breakthrough towards the World Trade Organization's International Technology Agreement took place at an ambassadors' meeting at the European Union embassy in Geneva.
Emissions Cut
Japan, the world's sixth biggest greenhouse gas polluter, has pledged to cut emissions 26 per cent from 2013 levels by 2030, a target observers judged inadequate to avert calamitous global warming.
Saturday, July 18, 2015
Ringgit
Malaysians could well be looking at a "new normal" in their currency, as the ringgit continues to languish, slipping recently to RM3.75 to the US dollar and RM2.80 to the Sing dollar.
Aabaco
Yahoo! Inc. filed to spin off its shares in Alibaba Group Holding Ltd into a company to be called Aabaco Holdings Inc, a move still set for the fourth quarter.
Friday, July 17, 2015
US Home Builder
US home builder sentiment stayed at its strongest level in almost a decade in July as the housing market broadly improved despite an uptick in mortgage rates from earlier this year, the National Association of Home Builders said on Thursday.
Mortgage Rates
Mortgage rates for 30-year loans rose to the highest since October after Federal Reserve Chair Janet Yellen reiterated plans to increase borrowing costs this year and the likelihood of a Greek exit from the euro region faded.
Restaurant Hoshigaoka Woodlands
Woodlands Civic Centre
900 South Woodlands Drive
#02-05
Tel: 63632315
Thursday, July 16, 2015
Iran Deal
After arduous talks that spanned 20 months, negotiators have reached a landmark deal aimed at reining in Iran's nuclear program.
The agreement, a focal point of U.S. President Barack Obama's foreign policy, appears set to reshape relations between Iran and the West, with its effects likely to ripple across the volatile Middle East.
Lapses
Lack of transparency in transactions between related parties at government bodies like the People's Association was flagged by the Auditor-General's Office (AGO) on Wednesday.
At the PA, the Institute of Technical Education and Singapore Polytechnic, the AGO found inadequate management of conflicts of interest in related party transactions.
The National Library Board (NLB) was rapped for the way it procured electronic resources such as ebooks and databases.
Wednesday, July 15, 2015
Currency Investors
Currency investors are increasingly using electronic systems connected to multiple dealers as the market comes under greater scrutiny by regulators, according to Greenwich Associates.
US Import Prices
US import prices unexpectedly fell in June as the lingering effects of a strong dollar offset rising costs for petroleum products, keeping imported inflation pressure under wraps.
Tuesday, July 14, 2015
Najib's Wife's Bank Account
Ever since a Malaysian activist website published reports that millions of ringgit were deposited into Madam Rosmah Mansor's account, ordinary Malaysians have been trying to find out if there is any truth in it.
The wife of Prime Minister Najib Razak was believed to have had RM2 million (S$710,000) transferred into her personal account in Affin Bank earlier this year, Sarawak Report claimed. The money was allegedly from 1Malaysia Development.
Malaysians, eager to see if bank details that were published in the report were Madam Rosmah's, have been transferring RM1 (36 Singapore cents) to her account, liberal news portal Malaysian Insider reported.
They then shared pictures of their online and cash deposit machine transactions on social media, noting that the said account really did belong to her.
Four Leaves White Sand
Most probably, it will be reopened tomorrow.
Basement One
Near the former Eu Yang Sang unit
IMF
The International Monetary Fund said it stands is prepared to work with Greece and European Union partners to advance the third bailout effort for the country agreed early Monday.
Deal With Greece
Eurozone leaders clinched a deal with Greece on Monday to negotiate a third bailout to keep the near-bankrupt country in the eurozone after a whole night of haggling at an emergency summit.
Monday, July 13, 2015
Four Leaves Pasir Ris
Most probably, it will be reopened on 15 July 2015.
Basement One
Near the former Eu Yang Sang unit
EU Employment Laws
British Prime Minister David Cameron is seeking a British exemption from European Union employment laws as part of his push to gain more autonomy from Brussels, newspapers said Saturday.
Greek Bailout Deal
Divided eurozone ministers halted "very difficult" talks on a Greek bailout deal overnight Saturday, with just a day left before a final deadline for an agreement to stop Athens crashing out of the euro.
Sunday, July 12, 2015
Toshiba
An accounting scandal involving massive Japanese conglomerate Toshiba deepened on Saturday as reports said the company's president would likely be forced to resign.
Hopes of Greek Deal
A relief European stock, bond and euro rally reflects hopes that creditors would accept the proposals of Greek premier Alexis Tsipras. The outcome, however, is unpredictable and optimism may be premature.
Saturday, July 11, 2015
Europe Stocks
The eurozone's main markets closed sharply higher Friday, with Frankfurt, Paris, Milan, Madrid and Lisbon up by around 3 per cent, on hopes Greece will reach a make-or-break bailout deal to keep it in the eurozone.
Chinese Stocks
Chinese stocks rose, capping the benchmark index's biggest two-day gain since 2008, as unprecedented government intervention helped curb an equity rout that erased US$3.9 trillion in less than a month.
Friday, July 10, 2015
IBM
IBM on Thursday unveiled a powerful new chip which the company says could boost computing power of "everything from smartphones to spacecraft."
The company unveiled the industry's first seven-nanometer chip that could hold more than 20 billion tiny switches or transistors for improved computing power.
Running Out Of Paper
With banks shut and the economy seizing up, some Greek newspapers like the Empros daily on the island of Lesvos are running out of paper and could be forced to stop sales altogether until the banks open again.
Thursday, July 9, 2015
COE 08 July 2015
The COE premium for cars up to 1,600cc and 130bhp closed 3.8 per cent lower at $58,700.
The premium for cars above 1,600cc or 130bhp fell by 8.4 per cent to end at $65,501.
The price for Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, fell by 7.4 per cent to $69,001.
Oil and Fuel
US crude, gasoline and distillate inventories all rose in the last week, data from the Energy Information Administration showed on Wednesday.
New York Stock Exchange
The New York Stock Exchange suspended trading in all stocks Wednesday morning.
The NYSE halted stocks at 1532 GMT, saying in a notice on its website that "additional information will follow as soon as possible." An NYSE statement cited "technical issues," CNBC reported.
Wednesday, July 8, 2015
Greece
Greece will submit a new aid proposal to European creditors "maybe" on Wednesday, a senior eurozone official said, with Athens' European partners convening in Brussels for emergency talks.
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