Singapore Real Estate / Built Environment
URA offers developers bonus gross floor area if they tap greener cooling systemsMore buildings here might soon use centralised chillers for their air-conditioning needs, after the government announced new incentives for developers that tap these energy-efficient cooling systems.
https://www.businesstimes.com.sg/singapore/ura-offers-developers-bonus-gross-floor-area-if-they-tap-greener-cooling-systems
https://www.straitstimes.com/singapore/ura-offers-developers-incentives-to-tap-energy-efficient-cooling-systems
Construction tech SMEs lay groundwork for smarter, safer building
Many small and medium-sized enterprises (SMEs) in Singapore’s construction sector may have yet to build the confidence to adopt new technologies. “Most built environment firms tend to be caught up with their projects’ day-to-day matters and may not have the capacity to keep a lookout for the latest innovations,” a Building and Construction Authority (BCA) spokesperson told The Business Times.
https://www.businesstimes.com.sg/singapore/smes/construction-tech-smes-lay-groundwork-smarter-safer-building
Singapore Economy
Singapore’s semicon sector should embrace AI, sustainability; prepare for quantum future
Singapore’s semiconductor industry is being shaped by two major trends: the rise of artificial intelligence (AI) and the nation’s push for sustainability, said Desmond Tan, senior minister of state in the prime minister’s office.
https://www.businesstimes.com.sg/singapore/singapores-semicon-sector-should-embrace-ai-sustainability-prepare-quantum-future
Proposals on the way to tackle manpower, regulatory and other challenges hobbling Singapore businesses
As Singapore’s businesses struggle with manpower shortages, uncertain land leases, and complex regulatory frameworks, a public-private partnership is working to tackle these challenges – with a report outlining recommendations set to be released by the end of the year.
https://www.businesstimes.com.sg/singapore/proposals-way-tackle-manpower-regulatory-and-other-challenges-hobbling-singapore-businesses
Business News
Ex-CapitaLand’s Chris Chong to join LVMH as group president for South Asia and South-east Asia
French luxury conglomerate LVMH has appointed Chris Chong, CapitaLand Investment’s (CLI) former chief executive officer of retail and workspace, as group president (South and South-East Asia).
https://www.businesstimes.com.sg/property/ex-capitalands-chris-chong-join-lvmh-group-president-south-asia-and-south-east-asia
OCBC makes S$500 million bet on Punggol Digital District innovation hub and SIT partnership
OCBC will invest about S$500 million into building its new innovation hub in the Punggol Digital District. The amount will also go towards funding a learning lab in the Singapore Institute of Technology’s (SIT) campus there, among other initiatives, to further its transformation ambitions.
https://www.businesstimes.com.sg/companies-markets/banking-finance/ocbc-makes-s500-million-bet-punggol-digital-district-innovation-hub-and-sit-partnership
https://www.straitstimes.com/singapore/ocbc-to-house-up-to-4000-employees-in-punggol-digital-district-as-part-of-500m-investment
https://www.channelnewsasia.com/singapore/ocbc-punggol-digital-district-innovation-hub-employees-4615246
Views, Reviews, Forum and Others
Banks to roll out Singpass face verification for customers setting up digital tokens
Major retail banks in Singapore will progressively introduce Singpass Face Verification (SFV) over the next three months as part of the process for retail banking customers setting up digital tokens.
https://www.businesstimes.com.sg/companies-markets/banks-roll-out-singpass-face-verification-customers-setting-digital-tokens
https://www.straitstimes.com/singapore/banks-to-roll-out-singpass-face-verification-as-part-of-digital-token-setup-process
https://www.todayonline.com/news/banks-require-singpass-face-verification-customers-setting-digital-tokens-2481721
https://www.channelnewsasia.com/singapore/banks-singpass-face-verification-set-digital-token-prevent-scams-4615066
More than 300 trees in Singapore affected by Sumatra squall on Sept 17: NParks
Singapore – More than 300 trees were affected across the island when heavy and intense rainfall brought about by a Sumatra squall battered Singapore on the evening of Sept 17.
https://www.straitstimes.com/singapore/300-trees-in-singapore-affected-by-sumatra-squall-on-sept-17-nparks
Global Economy & Real Estate
Fed cuts interest rates by half a percentage point, cites ‘greater confidence’ about inflation
https://www.straitstimes.com/business/economy/fed-cuts-rates-by-half-a-percentage-point-cites-greater-confidence-about-inflation
https://www.businesstimes.com.sg/companies-markets/banking-finance/us-fed-delivers-oversized-half-point-cut-it-gains-greater-confidence-about-inflation
https://www.channelnewsasia.com/business/us-fed-makes-aggressive-rate-cut-weeks-election-4616746
https://www.zaobao.com.sg/realtime/world/story20240919-4775730
US mortgage rates drop to two-year low ahead of Fed rate cut
https://www.businesstimes.com.sg/international/global/us-mortgage-rates-drop-two-year-low-ahead-fed-rate-cut
US faces a deficit of 6 million workers in less than a decade
https://www.businesstimes.com.sg/international/us-faces-deficit-6-million-workers-less-decade
US housing starts increase to fastest pace since April
https://www.businesstimes.com.sg/property/us-housing-starts-increase-fastest-pace-april
More family offices putting cash in risk assets, with shift to equities strongest in Asia
https://www.straitstimes.com/business/more-family-offices-putting-cash-in-risk-assets-with-shift-to-equities-strongest-in-asia
https://www.businesstimes.com.sg/companies-markets/more-family-offices-deploy-risk-assets-rising-optimism-citi
Australia struggles to solve housing crisis as politicians scrap
https://www.businesstimes.com.sg/property/australia-struggles-solve-housing-crisis-politicians-scrap
Amazon boosts warehouse worker pay by at least US$1.50 an hour
https://www.businesstimes.com.sg/companies-markets/transport-logistics/amazon-boosts-warehouse-worker-pay-least-us1-50-hour
https://www.channelnewsasia.com/business/amazon-raises-pay-us-hourly-workers-fulfillment-transport-ops-4616206
China holiday spending gain a blip for markets worried by growth
https://www.businesstimes.com.sg/international/china-holiday-spending-gain-blip-markets-worried-growth
Ultra-weak home prices in northern China arrive in southern powerhouses
https://www.businesstimes.com.sg/property/ultra-weak-home-prices-northern-china-arrive-southern-powerhouses
China to tax Taiwanese agricultural imports
https://www.businesstimes.com.sg/international/china-tax-taiwanese-agricultural-imports
Eurozone inflation not where ECB wants it to be, Bundesbank chief says
https://www.businesstimes.com.sg/international/eurozone-inflation-not-where-ecb-wants-it-be-bundesbank-chief-says
France’s new PM warns of ‘very serious’ financial situation
https://www.businesstimes.com.sg/international/frances-new-pm-warns-very-serious-financial-situation
Germany to borrow 2 billion euros less this year than planned
https://www.businesstimes.com.sg/international/germany-borrow-2-billion-euros-less-year-planned
Hong Kong central bank cuts interest rate, tracks Fed move
https://www.channelnewsasia.com/business/hong-kong-central-bank-cuts-interest-rate-tracks-fed-move-4617181
https://www.scmp.com/business/article/3278874/hong-kong-cuts-base-rate-half-point-lockstep-us-feds-aggressive-bid-economy
Hong Kong tycoon Henry Cheng’s mall to expand luxury space with LVMH, Kering
https://www.businesstimes.com.sg/property/hong-kong-tycoon-henry-chengs-mall-expand-luxury-space-lvmh-kering
Ireland needs to build 52,000 homes per year, central bank warns
https://www.businesstimes.com.sg/property/ireland-needs-build-52000-homes-year-central-bank-warns
Japan says economy in moderate recovery, cautious on risks
https://www.businesstimes.com.sg/international/japan-says-economy-moderate-recovery-cautious-risks
https://www.channelnewsasia.com/business/japan-says-economy-moderate-recovery-cautious-risks-4615466
Japan’s exports slow sharply, machinery orders shrink in blow to economic recovery
https://www.businesstimes.com.sg/international/japans-exports-slow-sharply-machinery-orders-shrink-blow-economic-recovery
New Zealand economy contracts 0.2% in second quarter
https://www.businesstimes.com.sg/international/new-zealand-economy-contracts-0-2-second-quarter
https://www.straitstimes.com/business/new-zealand-faces-another-recession-after-economy-contracts-in-second-quarter
Chanel buys building on Paris’ upscale avenue Montaigne
https://www.businesstimes.com.sg/property/chanel-buys-building-paris-upscale-avenue-montaigne
Thailand unveils new Bill to regulate cannabis while keeping it legal
https://www.businesstimes.com.sg/international/asean/thailand-unveils-new-bill-regulate-cannabis-while-keeping-it-legal
Thai Finance Minister to discuss inflation target with central bank soon
https://www.businesstimes.com.sg/international/thai-finance-minister-discuss-inflation-target-central-bank-soon
UK government inks first trade pact with Thailand
https://www.businesstimes.com.sg/international/uk-government-inks-first-trade-pact-thailand
UK inflation steady at 2.2% leaves door open for more rate cuts
https://www.businesstimes.com.sg/international/uk-inflation-steady-2-2-leaves-door-open-more-rate-cuts
https://www.straitstimes.com/business/economy/uk-inflation-steady-at-22-leaves-door-open-for-more-rate-cuts
UK house prices rise for fifth month in July: ONS
https://www.businesstimes.com.sg/property/uk-house-prices-rise-fifth-month-july-ons
London’s mansions are struggling to sell
https://www.businesstimes.com.sg/property/londons-mansions-are-struggling-sell
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