News

Singapore's gross domestic product contracted 6.8 percent after reaching 14.9 percent for the period of July to September 2009.

Private residential prices rose by 7.3% to from 154.3 pointsto 165.5 points in the 4th Quarter 2009, according to figures released by the Urban Redevelopment Authority.

By March this year, all ships registered with Singapore and entering into Singapore will be banned from using harmful anti-fouling paints on their hulls.

Singapore’s gross expenditure on R&D has reached a record high of S$7.13 billion in 2008. This amount is 2.77% of Singapore’s GDP, according to figures from the Agency for Science, Technology and Research, and is a 12.4% increase from the gross expenditure on R&D (GERD) of S$6.33 billion in 2007.

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The Monetary Authority of Singapore announced today that it is reviewing two sets of measures to strengthen the protection of insurance policy owners.

Industrial real estate firm Boustead Projects has been awarded a S$107 million contract to design and build a manufacturing and support facility for one of the world’s leading power systems corporations.

The suffering office sector looks to turn around as the year ended with returning demand and a slow down in rental decline rates.

Singapore coal miner Straits Asia Resources announced yesterday that it entered into a five year club financing facility for US$380m.

ST Engineering announced today that its US shipyard, VT Halter Marine, has been awarded a US$87m (about S$121m) contract with the U.S Navy.

Las Vegas Sands chairman Sheldon Adelson has estimated annual earnings for the upcoming Marina Bay Sands to be over a billion dollars.

Singapore Airlines has launched SIA Mobile, its latest service allowing customers to use their mobile phones to book flights and access selected KrisFlyer services.

Tiger Airways has lodged its preliminary prospectus with the Monetary Authority of Singapore to be listed on the Singapore Exchange Securities Trading Limited.

StarHub today announced the launch of Singapore’s first MMS Mobile Paper service featuring news and current affairs from China. The affordable subscription-based mobile value-added service will allow China nationals living in Singapore to stay in touch with news from home, and help others interested in China to stay abreast of what is happening there. Once subscribed, the MMS Mobile Paper will push news and features on China to users on a regular basis, giving them up-to-date information at their fingertips. “Interest in China is rapidly growing with more businesses requiring up-to-date information on the latest developments in the world’s fastest growing economy. We are excited to offer to our mobile customers a service where they can keep themselves informed of developments within the country. We also believe that this customer-friendly service will be of great use to our base of customers who are Chinese nationals, and help them stay abreast of what’s happening at home. We hope to extend this service to other publications from across the world in the coming months,” said Mr Chan Kin Hung, Head of Products and Solutions, StarHub.

Gross rents of prime first-storey retail space in Orchard/Scotts Road increased by 1.0% to after falling 7.3% in previous four quarters.

Marina Bay Sands SkyPark is set to finish its heavy lifting works in the coming weeks.