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 ...
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 ...
by Ernie B. Calucag Singapore’s domestic wholesale trade rose 8.2 per cent year-on-year in the fourth quarter of 2011, boosted by increased sales of petroleum and petroleum products, the Singapore Department of Statistics reported Tuesday. Foreign wholesale trade, meanwhile, also posted significant growth at 13.8 per cent from a year ago. Petroleum products accounted for ...
By Ernie B. Calucag Competition among Singapore-based low-cost airlines heats up as Tiger Airways and Singapore Airlines’ Scoot are lining up to launch new routes, seeking to gain an upper hand in this growing aviation market segment. Tiger Airways said Tuesday that the Indonesian Director General of Air Communications had reactivated the air operator’s ...
By Ernie B. Calucag Singapore Changi Airport said Tuesday that passenger traffic rose 12 per cent in January, boosted by the Lunar New Year holidays.SINGAPORE Changi Airport, Asia’s second-biggest after Hong Kong, received 4.24 million passengers in January, compared to 3.79 million a year ago. Air traffic movements grew in tandem, clocking 27,600 aircraft movements, ...
by Jared Heng The Competition Commission of Singapore (CCS) is seeking feedback on proposed changes to its guidelines for procedures relating to the review of mergers under the Competition Act. In a website statement on Monday, CCS said it has reviewed the guidelines and proposed amendments to reflect almost five years of its experience in ...
