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Retail sales down 1.3% to $3.6b in August

11 Oct 2019 - Singapore Business Review
Auto sales saw the steepest decline with a 19.1% crash. Retail sales declined 1.3% MoM or 4.1% YoY to $3.6b in August, according to the Department of Statistics. Excluding motor vehicle sales, sales grew 2.2%. Auto sales lead the decline as it crashed 19.1% MoM, reversing 23.7% leap from the previous ...

Dyson abandons electric car project: report

11 Oct 2019 - Singapore Business Review
The firm said that it is no longer "commercially viable". UK-based vacuum manufacturer Dyson will cease its electric car projects, laying off about 523 employees in Singapore and in the UK, according to a report by BBC. About 20 people are working under the firm’s automotive division in the nation. ...

Majority of traders prefer online platforms over banks

11 Oct 2019 - Singapore Business Review
Instead of financial institutions, online traders rely on family and friends for stock advice. More than 7 in 10 or 73% of Singaporean traders prefer to use online trading platforms instead of banks and stockbrokers, according to a study by YouGov commissioned by brokerage firm eToro. More Singaporeans ...

Four telcos too many for Singaporeans

11 Oct 2019 - Singapore Business Review
About 58% felt that there are too many brands to choose from. Singapore’s telecom scene now boasts 12 mobile brands with the launch of full-service carrier TPG earlier this year and a host of virtual brands to boot. So just which brands are coming to dominate and what are consumers to make of all the ...
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SGX daily average value fell 3% to $940m in September

11 Oct 2019 - Singapore Business Review
Total equity index futures volume slipped 5% YoY to 14.2 million contracts. Securities daily average value (SDAV) dipped 3% YoY to $940m in September, down from the $1.2b in August, despite the Straits Times Index’s (STI) positive total returns of 0.5%, according to an SGX report. Meanwhile, the total ...
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7 in 10 traders ditch banks for online platforms

11 Oct 2019 - Singapore Business Review
Instead of financial institutions, online traders rely on family and friends for stock advice. More than 7 in 10 or 73% of Singaporean traders prefer to use online trading platforms instead of banks and stockbrokers, according to a study by YouGov commissioned by brokerage firm eToro. More Singaporeans ...

Equinix, GIC finish $1.3b joint development of data centres

11 Oct 2019 - Singapore Business Review
Six new facilities will be located all over Europe. Since the inception of the joint venture in July, data centre company Equinix and Singapore’s sovereign wealth fund, GIC, have completed their $1.3b development and operation of xScale data centres, the company announced. The six data centres will be ...

SPH REIT NPI up 8.3% to $179.8m in FY2019

11 Oct 2019 - Singapore Business Review
This was due to higher contribution from the REIT’s properties. Singapore Press Holdings REIT’s (SPH REIT) full-year net property income (NPI) grew 8.3% YoY to $179.78m in FY2019 from $166m in 2018, an announcement revealed. Revenue also rose 7.9% YoY to $228.63m over the same period from $211.8m. NPI ...
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Dalian Tanker Denies the Allegation of Closing AIS

11 Oct 2019 - ACN Newswire
It is reported that after COSCO SHIPPING Tanker (Dalian) Co., Ltd. ("Dalian Tanker") being added to the Specially Designated Nationals ("SDNs") List by the Department of the Treasury's Office of Foreign Assets Control ("OFAC"), a total of 14 Dalian ships (including 9 VLCCs) stopped sending location data ...
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Condo rents dipped 0.4% in September

11 Oct 2019 - Singapore Business Review
The CCR saw the fastest decline in rents at 1.1% MoM. Condo rents dipped 0.4% MoM but rose 3.2% YoY in September, which is 16.9% lower than its peak in January 2013, according to an SRX report. The core central region (CCR) saw the fastest decline in rents at 1.1% MoM. It is followed by the rest of central ...