Thursday, December 11, 2008

Today's Singapore News

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

-Singapore ranks 38th in global warming fight: The annual Climate Change Performance Index placed Singapore at 38th, faring worse than Indonesia (27th) and Thailand (35th), but better than Japan (43rd) and China (49th).
-Singapore to get first movie studios: Singapore's first movie studio for use by independent and visiting foreign productions are to be constructed as part of a new S$1 billion ($714) million facilities cluster, Mediapolis @ one-north.
-Singapore consumers are saving money: A survey by MasterCard found almost 8 in 10 Singapore consumers saying they are saving money as a precaution, setting the funds aside as emergency stash.
-Getting loans not so easy: Faced with gloomy economic conditions, banks and financial institutions seem unwilling to lend and are tightening the credit lines they do hand out, according to car dealers.
-Singapore seen emerging Asia's weakest economy: Singapore is poised to be emerging Asia's worst-performing economy next year, when it is likely to remain entrenched in recession as the global downturn erodes demand for its exports, a Reuters poll shows.
-Countdown party to be held on floating platform at Marina Bay: The fireworks at the Marina Bay New Year countdown will go on as planned, despite the economic downturn. It will be one of the biggest countdown parties in town.
-No karting investment, no Singapore F1 driver: Karting is the world's most recognisable route to creating a possible future Formula One driver. But until Singapore is willing to invest in proper facilities for karting, or parents here are lured to get involved, the red lights are still on for creating a homegrown F1 driver.
-Long wait for refunds: Flights to Bangkok may have resumed but it is going to be a long haul for some holidaymakers who are seeking refunds for cancelled flights.
-Legislation to stop retrenchments is not the solution: There have been calls to give Singapore's labour movement more teeth and power to stop retrenchments, but labour chief Lim Swee Say believes that legislation is not the solution.
-Hired on contract: Singapore firms keen to keep costs down in these grim economic times are increasingly willing to sign up key finance professionals on temporary contracts instead of hiring pricey full-time staff.

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