Established in 1999



Public Others Government Business Arts Community
Entertainment Lifestyle Services People Travel Internet Stuff



     Business - News

     News Snippets


Prime Minister's New Year Message 2006

"We grew by 5.7% in 2005, better than expected. Growth was broad-based. Manufacturing output rose sharply and the services industries also did well...

"In the first three quarters, we created 78,000 jobs. This reduced the unemployment rate to 3.3%. For the whole of 2005, employment creation should match or even exceed the 108,500 jobs recorded in 2000.

"Wages increased by around 4% and many workers enjoyed good bonuses. Overall, Singaporeans have become more confident and optimistic..."


     - CPF Board tightens admission criteria for new CPFIS funds


      - New terminal for low-cost carriers to open on 26 March 2006

     - Singapore Labour Market 3rd Quarter 2005

     - 52 illegal foreign workers nabbed in raids at 13 coffee shops


Significant trends in the Singapore labour market

"Today, services make up seven out of every ten jobs, compared to six out of ten jobs in 1990. In particular, employment within the financial and business services sector has more than doubled since 1990...

"But there is also a third, important trend, and that is that people will have to change jobs more often in their lifetimes..."


     - NAFA bags prestigious honour at British Business Awards

     - Performance of Singapore economy in 3rd quarter 2005


NUS Corporatisation Bill

"The new legislation aims to safeguard the Government¨s strategic interest in the university sector and yet, give the universities the autonomy to be nimble and responsive to the dynamic landscape...

"The NUS Bill also provides the legislative provisions to transfer NUS¨ property, rights and liabilities to the successor university company, and will repeal the existing NUS Act which establishes NUS as a statutory board..."


      - Foreigners to get no subsidy at polyclinics from 2006


Recovery of the Property Market

"The property market recovery is not confined to the private housing sector. All the other sectors of the property market are recovering in tandem with the strong growth of our economy...

"In 2006, Singapore¨s GDP is projected to grow by another 3% to 5%. Robust growth in the manufacturing, tourism and financial sectors, and the diversification of our economy into new areas like the life sciences, education and health, are helping to drive growth in our economy..."



      - Emergence of New Poor a worrying trend


Survey shows some companies infringing software copyright law

"...a recent survey highlighted that for small medium enterprises, nearly a third of them are still not fully compliant in the proper usage of software products in their business environment. This could be as a result of the use of illegal software or under-licensing the use of software products...
"The survey also found that among those who were non-compliant, a significant number were smaller companies, averaging ten workstations or less. 47.3% of this group were non-compliant...


      - Employment Situation in 3rd Quarter 2005

     - Compulsory day off for maids

     - Update, renew & terminate 45 different licences online

     - SingTel launches e-surveillance service for businesses

     - Recent trends in employment creation

     - Singapore household debt and credit card bankruptcies


Compulsory registration for pre-paid SIM card holders

"From 1 November, mobile service providers, such as the Singapore Telecom Mobile Pte Ltd, StarHub Mobile Pte Ltd and MobileOne Ltd, will be required to ensure compliance in recording the personal details of all customers who buy prepaid SIM cards...

"...all existing prepaid SIM card users are required to re-register at retail outlets which sell prepaid SIM cards sold by their respective mobile service providers.

"Customers must be at least 15 years old before being eligible to purchase a prepaid SIM card..."


      - Key indicators on Singapore's Corporate Sector 1999-2003

     - CapitaLand acquires Seiyu stores in Singapore

     - Treasury survey shows foreign exchange trading reaching 7 year high


2nd reading of Public Transport Council (Amendment) Bill 2005

"The 2 PTOs estimate that fare evasion on buses occurs on about 1.8% of passenger trips. Even though this figure may appear to be low, we should not condone fare evasion. Otherwise, the majority of commuters who pay the correct fares will be subsidizing the small minority who abuse concession passes, avoid paying or intentionally underpay fares.

"Hence, to provide greater deterrence against fare evasion, the PTC will be introducing a penalty fee of $20 for the underpayment and non-payment of fares; and $50 for the abuse of fare concessions..."


     - Salary dispute resolved with Manpower Ministry's intervention

     - Draft Casino Control Bill released for public consultation


Study Mum Situation in Singapore

"As at end Jul 05, there were about 6,800 study mothers in Singapore of whom some two-thirds were from the PRC...

"As at end Jun 05, less than 1,000 study mothers were holding Work Permits..."


     - 58 foreign workers arrested for having no work permits

     - Transit passengers at Changi Airport get to explore Singapore

     - Medical subsidies for foreign workers being reviewed


CPF - Future Directions

"By 2030, one in five Singaporeans will be at least 60 years old. With families getting smaller, we will have fewer children around to support us in our old age.

"Part of the answer is to get workers to work longer and retire later. But another part is to ensure that Singaporeans have enough savings to continue enjoying financial security and good medical care throughout our lives.....



      - Police raid company using pirated software

     - MAS enhances corporate governance for banks & insurers

     - Singapore Labour Market - 2nd Quarter 2005

     - Singapore voted world's Best Business City

     - Workfare to help low wage workers in six key areas


Financial Industry Disputes Resolution Centre launched

"First, by handling all disputes that relate to forms of financial transactions, it provides consumers the convenience of a one-stop centre...

"Third, FIDReC is affordable. To ensure easy access, mediation services will be free. If current trend continues, it means that 95% of all cases handled by FIDReC will be free. Should adjudication be needed, consumers will pay just $50."


      - Man arrested for using counterfeit credit cards in Sim Lim Square


Prime Minister's National Day Rally Speech 2005

If you compare us with other countries, you go to Thailand, for example, whether it's a man or woman, the man will say Sawadikup or the woman will say the Sawadika.  You go to Japanese restaurant, Irrashaimasse.  Or you go to India, they say Nemeste or Varnakam. You go to Australia, they say Good Day mate!

In Singapore, they go straight to the point. ^How can I help you? ̄ Or if you're not so lucky, ^What you want? ̄



Three arrested for illegally distributing copyrighted songs online

"A pre-dawn raid on 3 locations by the Police on 17 August 2005 saw the arrest of 3 male subjects aged between 16 and 22 years old for distributing infringing copies of copyrighted music on the Internet.
"The 16 year-old student, 21 year-old unemployed man and 22 year-old factory operator were arrested in their respective residences..."


     - Key Survey Findings on Services Sector 2003

     - Private sector to build and sell HDB flats

     - Performance of Singapore Economy in 2nd Quarter 2005

     - Employment Situation in 2nd Quarter 2005


Findings of First National Financial Literacy Survey

"The majority of Singaporeans save, monitor their spending and are generally responsible in the use of credit...

"While these findings are positive, the survey showed that many do not have a clear idea of how much they would need for their retirement.

"Many have also not set aside sufficient cash savings to meet emergency needs. In addition, the majority are not aware of the key features of common financial products such as life insurance policies and unit trusts..."



Smoking ban to be extended to hawker centres, coffeeshops & entertainment outlets

"The ban at hawker centers and coffeeshops will take effect from 1 July 2006, while the ban at entertainment outlets will start on 1 July 2007...

"The smoking ban at coffee shops will come into effect on 1 Jul 06. Smoking will be banned within the indoor refreshment areas (IRA) of coffeeshops. However, coffeeshop operators may designate up to 20% of the seats in their outdoor refreshment area (ORA) as a smoking corner..."


      - Strong performance in financial services sector in 2004

     - 2nd Quarter 2005 Real Estate Statistics


Money-changing & Remittance Businesses (Amendment) Act

"Currently, a holder of a remittance licence can be set up as a sole proprietorship, a partnership or a company. The proposed amendment will require the holder of a remittance licence to be incorporated as a company and to have a minimum capital of S$100,000."



Policy changes affecting the property market


increase the housing financing limit to 90% of the property value


lower the cash payment for private residential properties from 10% to 5%


allow CPF members to use their CPF savings to purchase private residential properties with remaining leases of 30 to 60 years


allow non-related singles to use their CPF savings to jointly purchase private residential properties


phase out the Non-Residential Properties Scheme (NRPS) by 1 Jul 2006


allow foreigners to purchase apartments in non-condominium developments of less than 6 levels without the need to obtain prior approval


     - Raffles Hotel to be sold to US-based investment fund

     - 5-day clearing week for banks from 15 May 2006

     - Police arrest 15 men for distributing pirated software

     - CISCO guards don new uniform

     - Olympic fever set to hit town with IOC meeting in July 2005



     - Singapore Labour Market Report - 1st Quarter 2005

     - MRT extension to link NEL's Chinatown station to Marina Bay

     - Key Survey Findings on Education Services 2003

     - Give your view on changes to Income Tax Act

     - Government accepts NWC's wage guidelines for 2005/2006

     - Key Survey Findings on Health Services 2003

     - Performance of Singapore Economy in 1st Quarter 2005

     - 'Intelligent Nation in 2015' vision for Singapore


     - Singaporeans must adapt and seize opportunities created: PM Lee

     - Employment Situation in 1st Quarter 2005

     - 1st Quarter 2005 Real Estate Statistics

     - Singapore to have two IRs with a casino each

     - Retrenchment & Re-employment in 2004

     - MAS Monetary Policy Statement

     - Singapore Public Holidays 2006 Gazetted

     - Man jailed for employing foreigners without work permits

     - Ministry of Manpower fine tunes foreign worker policy

     - Singapore Labour Market 2004 Report

     - 11,790 Immigration Offenders Arrested in 2004


     - Singapore Budget 2005

     - Tentative List of Singapore Public Holidays for 2006

     - Private medical insurance industry to be transformed

     - Securities & Futures (Amendment) Bill 2005 passed

     - Financial Advisers (Amendment) Bill 2005 passed

     - Employment Situation in 4th Quarter 2004

Government corporatising statutory board CISCO

"...CISCO will no longer share the same insignia as Police and upon corporatisation, CISCO's auxiliary police officers will no longer don the same uniform as the Police..."


     - Consumer Price Index 2004

     - Singapore Tourism Board aims for 8.9 million visitors in 2005

     - Singapore Airlines to be first to fly Airbus A380

     - Conditions of Employment 2004

     - Singapore tourism targeted to net S$30 billion by 2015


     - Singapore observes one minute of silence on 9 Jan 2005

     - Citibank Singapore Ltd incorporates in Singapore

     - No first-year cash rebates for housing loans from 6 Jan 2005

     - Hello 2005; Goodbye Streats

     2001 - 2004

This section commenced on 22 Aug 2001