Tuesday, September 23, 2008

Today's Singapore News

The following are stories that are making the headlines over at Topix Singapore News today, edited by yours truly.

-Shoppers switch to non-China milk: Shoppers are already switching to milk products from Malaysia, Australia, New Zealand, Europe and Japan, said a spokesman for Giant hypermarket.
-Milk scandal sparks confidence loss but effects temporary: China's tainted milk scandal has sparked further confidence losses in products made in the country. But businesses 938 LIVE spoke with feel it's temporary and given the products involved, isn't likely to affect sales too much.
-Major supermarkets recall over 15 brands of China-made food products: Over 15 brands of China-made products have been taken off the shelves, amid growing consumer concern in Singapore over the tainted milk scandal.
-Big brands ride on S'pore GP: The world's attention will be centred on the inaugural SingTel Singapore Grand Prix (SGP) this weekend, and many companies have jumped on the Formula One bandwagon for more eyeballs and branding mileage.
-Singapore GP book flying off shelves: Barely nine days after its launch, the first run of some 5,000 copies of "The Singapore Grand Prix: 50 Years in the Making" is almost sold out.
-Smooth traffic on KPE: Singapore's newest expressway handled morning peak-hour traffic for the first time yesterday, carrying about 5,100 cars from the north-east to the city.
-Smooth parking at Holland Village: The next time you drive into Holland Village, you will be greeted by marshals who will direct you to the nearest parking lot.
-5,000 policyholders terminated AIA contracts: Just under 5,000 policyholders have terminated their insurance contracts with the American International Assurance (AIA) so far, a small percentage of the over two million policies that AIA has in force in Singapore.
-Singapore Exchange tightens rules on short-selling: Singapore Exchange said late on Monday that it would tighten rules to discourage "naked" short-selling as part of a global move to stem the selling of shares by speculators who do not own the securities.
-Singapore wage growth to halve if recession hits-union: Wage growth in Singapore will probably halve to 2-2.5 percent in 2009 from around 4-5 percent this year if the country slides into a recession.
-Singapore's economic growth slows to below 4%: The Singapore government on Monday said that the country's full-year economic growth may dip below its earlier forecast of between 4 and 5 per cent

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