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S’pore drops out of top 20 list of world’s most expensive cities for expats

  The weakening Singapore dollar has made the city-state less expensive for expatriates. Singapore has fallen out of the top 20 list of the most expensive cities in the world, moving six notches down from 18th place last year to 24th in this year’s cost of living survey by ECA International, reported Channel NewsAsia. Topping the list is Angola’s Luanda followed by Hong Kong, Zurich, Geneva and Basel. Nonetheless, Singapore remained the 10th most expensive city within the Asia Pacific region, with Hong Kong taking the lead, followed by Tokyo, Seoul,Read More

Singapore’s economy grows 1.8% in Q4; 2016 GDP at 1.8%

SINGAPORE: The Singapore economy expanded at a faster-than-expected 1.8 per cent on a year-on-year basis in the final three months of 2016, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Tuesday (Jan 3). This was more than the revised 1.2 per cent growth in the third quarter. On a quarter-on-quarter seasonally-adjusted basis, gross domestic product (GDP) grew 9.1 per cent, marking a reversal from the 1.9 per cent contraction in the July to September period and dodging a technical recession defined as two straight quartersRead More

Singapore to use data tracking against money-laundering

SINGAPORE — Singapore will step up the fight against money-laundering with a newly created surveillance unit and data tracking but private banks must take the lead, its chief financial regulator said Tuesday (Sept 6). Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) which also serves as the central bank, said financial institutions must set the right moral tone to help battle illicit fund flows. “Boards and senior management in particular must send a clear signal that profits do not come before values and ethics, and compensationRead More