Singapore

Three bulk carriers of 82,000 dwt will be built by COSCO Shipyard Co. Ltd. using the secured contracts.

The design and manufacturing solutions provider has a market capitalisation of S$706 million and manufacturing facilities in eight countries across Asia and Europe.

Starting today, the carrier will increase its fuel surcharge between US$3 to US$25 due to the sustained escalation in the price of jet fuel in recent months.

Credit Suisse also seen to strengthen SGX’s capabilities in the interbank interest rate swap market.

Bank loans growth jumped from 12.2% yoy in September to 13.8% yoy in October. According to OCBC, the increase was buoyed by both business (10.1%yoy and 0.8%mom) and consumer loans (18.1%yoy and 1.8%mom), especially housing/bridging loans (22.5%yoy and 2.1% mom). 

Singaporeans should be happy with their monthly income rising by 4.2% over the year. According to OCBC, the median monthly income of residents in full-time employment rose faster than the marginal growth of 0.5% in 2009.

Credit card bills increased by 16.6% mom to $2.6b, according to OCBC. On the other hand, bad debts fell to 10.6% mom to $14.3m. Monetary aggregates accelerated to 17.9% yoy(M1) and 10.0% (M2) respectively in Oct, up from 17.1% and 8.2% in September.

The cargo division of Singapore Airlines agreed to pay S$63.4 million or US$48 million as criminal fine for US price fixing scam. According to Reuters, U.S. Justice Department said that Singapore Airlines Cargo plead guilty for the price fixing scam. The plea and the payment of US$48 million should be approved by the U.S. District Court.

The median monthly income from work of residents in full-time employment up 4.2% to $2,710 in 2010.

A*STAR and local universities collaborate to develop R&D capabilities in oil and gas equipment sector to support local marine and offshore industry.

Trialists can make everyday mobile payments, including bus and train fares, with their existing mobile handsets.

Public sector organisations utilising the platform can achieve greater transparency and fairer competition.

97% of businesses in Singapore perceive their domestic regulatory and taxation environment to be business friendly. According to ICAEW Global Enterprise Survey 2010, Singapore businesses are most positive about the impact of continuing globalisation.

70% of consumers rated mobile broadband as an important service despite having access to free public Wi-Fi. This is according to Acision’s research which was conducted by Toluna.

Partners released research $6mln funding on the project that focuses on research, development, test-bedding and eventual commercialisation of fuel cell applications for the maritime industry.

The two sites are among those to be released for sale under the Reserve List of the 2nd half 2010 Industrial Government Land Sales Programme.