by Jared Heng Singapore Airlines (SIA) Cargo Wednesday announced it has reduced freighter capacity by 20 per cent in response to continuing weakness in demand and high fuel prices. The capacity reductions were implemented recently and will continue into the northern summer operating season that starts late next month. “The air cargo market has shown ...
by Jared Heng Certificate of Entitlement (COE) prices in Singapore soared for all vehicle categories in the latest open bidding exercise that ended on Wednesday. The premium for large cars (above 1,600 cc) was S$78,189, a S$4,299-jump from the previous bidding exercise. Small cars (1,600 cc and below) recorded a S$4,200-rise in COE price to ...
by Jared Heng Singapore’s central bank has issued a consultation paper proposing an extension of the MAS (Monetary Authority of Singapore) Corporate Governance (CG) Framework to all direct insurers and reinsurers incorporated in the country. The framework comprises regulations and guidelines. MAS said Wednesday that the proposal is in line with its “emphasis on the ...
by Jared Heng From March 1, operational hours for the Central Business District (CBD) taxi rule will be shortened and aligned with the full-day bus lane operational hours, Singapore’s Land Transport Authority (LTA) said on Wednesday. With the revision, the CBD taxi rule that requires taxis to only pick up and drop off passengers at ...
Source: Reuters Olympus Corp’s main lender Sumitomo Mitsui Banking Corp (SMBC) denied it was trying to take control of the firm’s board by stealth, but said it might well agree to send a former banker to be chairman of the disgraced camera and medical device maker. Foreign investors in the Japanese firm, which is engulfed ...
Source: Reuters Ford Motor Co is pouring US$3.8 billion into its global pension plan this year and will invest its plan assets more heavily in bonds, as the second-largest US automaker moves more aggressively to minimise its pension risks in a shaky market. The planned cash injection, detailed in its annual securities filing posted on ...
Source: Reuters Mazda Motor Corp is looking to raise up to US$2 billion in a bigger-than-expected public share offering, a regulatory filing showed on Wednesday, which would cause a massive 69 per cent dilution of its existing shares. The share offering eclipsed expectations of JPY100 billion that had been flagged by financial sources. If the ...
Source: AFP China’s manufacturing activity continued to contract in February as export orders weakened, HSBC said, in a further sign that the eurozone crisis and US weakness are hurting demand. HSBC’s preliminary purchasing managers’ index rose to 49.7, the highest level in four months, from a final reading of 48.8 in January, the British ...
by Jared Heng Almost a third of Singapore’s financial leaders plan to increase hiring of financial professionals in the first half of 2012 despite ongoing uncertainties in the global economy. This was according to the latest Financial Employment Report from specialist finance and accounting recruitment firm, Robert Half. It was based on a survey of ...
by Ernie B. Calucag Rising property prices remain one of the foremost concerns of buyers in Singapore, despite government measures to make homes more affordable, said a survey by iProperty group released Tuesday. The Asia Property Market Sentiment Report 2012 revealed that 85.6 per cent of some 1,600 respondents in Singapore considered affordability and rising ...
