Currently only 7% of Singapore’s greens are locally grown. Sky Greens believes that expanding vertical farming in the country could make that figure rise to 50%. Varieties of bak choi and Chinese cabbage are havested to be sold at the local supermarket, FairPrice.
Singapore has one of the lowest jobless rates and highest per capita GDP in the world but tops nations as “emotionless.”Trailing behind Singapore as “emotionless” were nearly half of 15 former Soviet republicsFindings belie Singapore’s 1.9% jobless rate, high per capita GDPPhilippines, meanwhile, registers as most emotional nationU.N. has declared “pursuit of happiness” as fundamental human goalHong Kong — The most emotionless society is Singapore’s despite its reputation for being among the world’s richest, a new survey has revealed.Gallup looked at 150 countries where about 1,000 residents were asked whether they experienced five positive and five negative emotions a lot [...]
File photo of Sunny Verghese, chief executive of Olam International, in 2009.Olam has launched a libel suit against Muddy Waters and its founder, Carson BlockAdds to war of words between Asia agribusinesses and U.S. short-seller(Financial Times) — Olam has launched a libel suit against Muddy Waters and its founder, Carson Block, sharply escalating its dispute with the investment firm.The suit, filed in Singapore on Wednesday, adds fuel to the increasingly acrimonious war of words between one of Asia’s largest agribusinesses and the US firm, one of the best-known shortsellers.Olam said it had initiated the action based on “libel, slander and [...]
SINGAPORE UBS is under investigation in Singapore along with other banks for possible manipulation of Libor and other benchmark rates, the Swiss bank said on Tuesday. In notes to its third quarter earnings report, UBS said that the Monetary Authority of Singapore (MAS), as well as authorities in the United Kingdom, United States and Switzerland, are conducting investigations into whether it and other banks tried to manipulate rates. More than a dozen banks are under investigation by regulators in the United States, Europe and Asia. However, this is the first time that UBS has disclosed that it is involved in [...]
LONDON Royal Bank of Scotland has suspended a trader for attempting to manipulate a reference lending rate in Singapore, a person familiar with the matter told Reuters, showing the global spread of the scandal over setting rates such as Libor. The part-nationalized UK bank put senior trader Chong Wen Kuang on leave earlier this year, the source said, for trying to manipulate the Singapore dollar swap offer rate (SOR). Chong is the first trader known to have been suspended by RBS in relation to a rate other than Libor, widening the breadth of the lender’s possible exposure to the global [...]
Luxury development in Singapore now offering sky-high garages.A Singapore property developer is targeting the super rich with parking problems Luxury apartments that allow owners to keep their cars on the top floor of the 30-storey blockFeatures what are described as “en suite sky garages” that automatically transport cars Prices for the 56 apartments range from S$ 9.8m ($ 7.8m) to S$ 30m for a penthouse (Financial Times) — A Singapore property developer is targeting the super rich with parking problems by marketing luxury apartments that allow owners to keep their cars next to their living rooms, even if they are [...]
Click to watch videoEditor’s note: Outlook is CNNs in-depth look at business climates around the world. To August 12, 2012, we’re focusing on Singapore.Singapore – Singapore may rock when economic crises hit Europe or the U.S., but it is well placed to come through turbulent times, Piyush Gupta, CEO of DBS bank, told Richard Quest. “Singapore gets buffeted quite widely,” he said, as its economy is closely correlated with the fortunes of the U.S., Europe and, to a degree, China. The CEO of the Singapore-based bank since 2009, Gupta believes that the way the Singaporean government guides industry makes the [...]
Click to watch videoEditor’s note: Outlook is CNNs in-depth look at business climates around the world. To August 12, 2012, we’re focusing on Singapore.It is 47 years since Singapore became an independent city state and a swamp was transformed into an economic powerhouse. Fostering a sense of identity among Singaporeans was key to its early development, which is why city planners in the 1960s made public housing a priority, giving 80% of the population a place to live. Today the building continues as the trading port, once an important stop on the Silk Route, is one of the three busiest [...]
HONG KONG Bank of China Ltd. and Industrial & Commercial Bank of China Ltd. are finalists for the sole right to clear yuan-denominated trades in Singapore, according to a Monday report in the Wall Street Journal, which cited people familiar with the matter. The two banks are “actively preparing for the bid” for the right to clear yuan trades, the report cited one source as saying. Singapore would benefit from a freer flow of the Chinese currency if it gained official trading status for the the yuan, the report said.
Editor’s note: Outlook is CNNs in-depth look at business climates around the world. To August 12, 2012, we’re focusing on Singapore. At less than 700 square kilometers and fewer than 6 million people, the city-state of Singapore may be one of Asia’s smallest countries, yet its economic influence far outstrips its size. Next week, CNN will be focusing on Singapore for a special week of coverage in this blog and on TV.The country is a global hub for exports, a financial capital and an increasingly popular tourism destination. Its GDP per capita, nearly $ 50,000, is one of the world’s [...]