Singapore Wrap Wednesday
Today's notable stories
Cause of rail breakdown in Singapore still not known: LTA
The cause of Tuesday night's rail breakdown - the first time both the North-South and East-West Lines have been affected simultaneously - is still unknown although train services are back to running on normal schedules at full speed and at normal peak-hour intervals.
Passenger car COE premiums down
Certificate of Entitlement (COE) premiums for passenger cars continued to sag on Wednesday, the first tender for July, as bookings for new cars slowed down significantly, according to some dealers.
New WDA programme to give wage support for firms hiring mature Singaporean PMEs
Come Oct 1, 2015, the Workforce Development Agency (WDA) will pilot a new career support programme (CSP) which aims to assist mature Singaporean professionals, managers and executives (PMEs) who may face greater challenges in securing a job.
Singapore's LTA working on innovative fare payment systems
Singapore's Land Transport Authority is looking at introducing innovative fare payment systems in the near term which will allow devices with the applicable near-field communication technology to be used at fare gates.
Alibaba to raise stake in SingPost to 14.51% from 10.23%, subject to IDA's approval
Singapore Post and Alibaba Group Holdings on Wednesday unveiled a slew of initiatives which include the Chinese e-commerce giant taking a bigger stake in the Singapore postal group to spur growth in their ecommerce logistics platform across Asia.
The STI Today
Singapore: China's crash hits local stocks
When China stocks and the Hong Kong market were surging earlier this year, there was no sympathetic movement in local stocks. This caused much frustration among observers here who had grown accustomed to trading here following Hong Kong's lead. Even more frustrating was Wednesday's 55.94 points or 1.7 per cent loss at 3,284.99 that the Straits Times Index suffered which came as a direct consequence of the Hang Seng's almost 6 per cent crash.
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International
Chinese tourists are again embracing international travel
Abu Dhabi raises US$5 billion with first eurobonds in three years
Thailand’s 500 billion baht handout aims to boost overall economy, not geared to poor: official
German business sentiment rises more than expected in April: Ifo
Indonesia’s central bank surprises with “pre-emptive” rate hike to cushion falling rupiah
Prabowo’s aide says Indonesia doesn’t need another rate hike