This news came out last week and is of course subject to the South African variant not being as problematic as the Indian one. (Btw did you know that the mama variant was first detected in China in Inner Mongolia? Clever chaps these mamas.)
Sorry back to the serfs here.
Employees based in Singapore are expected to see a nominal salary increase of 3.5% next year, up from 2.8% this year according to ECA international.
This means after taking account of a forecasted 1.5% inflation, Singapore workers would have a real salary increase of 2.0% on average – up from 1.2% this year. Real salary increase rates across the APAC region are forecast to be 1.9% in 2022, higher than the global average of 0.9%.
No wonder, the NTUC chief (and ex-minister: he lost the PAP a GRC and didn’t get sacked from his NTUC job) recently boasted: “The PAP is at the heart of NTUC, and the NTUC is at the heart of what the PAP does.”
PAP is trying to take credit for the wage rise, me thinks.
Very PC and in line with what PM and PAP have been saying recently.
But in the same speech also commended a PAP cadre who died recently.
A FB friend who is a lawyer, a pretty conservative guy and who like me is generally sympathetic to the policies of the PAP govt wrote on FB
PM Lee in his party convention speech commended the late Mr Lionel De Souza, a former police Sargeant, who was a colourful character.
The PAP also granted him a posthumous award for the services he rendered to them over the years.
Mr de Souza was dismissed from the SPF in 1986 for using excessive force – but appealed successfully on the ground of bias of the investigator.
He was well-known for using aggressive and threatening language online in recent years.
The below is an example.
Note what Mr de Souza said : “We will trace you and settle the score with you.”
A clear example of intimidation.
I myself have personally been at the receiving end of one such missive from Mr de Souza some years ago.
If this is the kind of man that the PAP regards as exemplifying its party values, I can only express dismay and disappointment.
One Adrian Tan (a friend who like me has benefited from the PAP govt’s policies but who has never voted for the PAP) posted in response to the above
I can no longer respect the PM and the PAP because PM commended this guy at a party convention. His antics in cyberspace and the FB is in the public domain. As you said, “If this is the kind of man that the PAP regards as exemplifying its party values, I can only express dismay and disappointment.”
But let’s be fair to the PM, maybe when he talked about rebutting opposing views “firmly” if necessary, he was thinking that Mr de Souza exemplified what he meant: intimidating and abusive behaviour.
LOL. Or should this be SAD?
Or maybe, the commendation of de Souza was inserted into his speech by a speech writer and PM never bothered to check out who de Souza was.
Or maybe in the PAP loyalty is that important, hence the commendation and award despite the fact that de Souza’s abusive and intimidating behaviour is in the public domain.
I doubt we would ever know the truth.
But whatever it is, it’s not good for the PAP and PM’s credibility. SAD.
Speaking at a summit of the 10-country Association of South-East Asian Nations, China’s president, Xi Jinping, said his country would not “bully” its smaller neighbours and does not seek “hegemony” in the region. China’s extensive territorial claims over the South China Sea have embroiled it in confrontation with several members of ASEAN. These clashes have also provoked alarm in America and Japan.
Economist Expresso
Even that licker of Xi’s ass, the Peenoy leader, has had enough. He warned Xi that PeenoyLand has had enough of Xi’s bullying.
Further to Why we can’t trust the Indon govt, where I reported that the Indonesia forestry minister almost immediately repudiated an agreement that her president signed at COP26 to end deforestation by 2030to stop the destruction of forests, here’s more data on Indonesia’s efforts to make climate change a reality
Americans are paying close to 60% more to fill their tanks than at this point last year. And a Thanksgiving dinner will on average cost 25% more than in 2019, a Financial Times analysis shows.
Singapore overall inflation rises to 3.2% in October, highest in more than 8 years
…
The uptick reflected stronger private transport and rental costs, in addition to the higher core inflation, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Tuesday (Nov 23).
Core inflation, which excludes rents and private road transport costs, climbed to 1.5 per cent last month from 1.2 per cent in September. The increase was due to rising services and food prices, and a smaller decline in the cost of retail and other goods.
It outdid the 1.3 per cent median estimate of analysts Bloomberg surveyed.
I’m sure if LKY were alive and in charge of handling the Covid-19 situation, I’m sure he’d say something along the lines of
When we talk – as many do these days – about ‘living with Covid’, it is important that we don’t think of it as simply giving in to the virus. Instead, it is about making sensible changes that allow us to return to greater normality and better health. from
Nicola Sturgeon First Minister of Scotland
Instead, we get the mealy mouthy comments of the MMTF and PM. SAD.
In an article titled Chinese propagandists court South-East Asia’s Chinese diaspora, the Economist reported
In April Lianhe Zaobao, a Chinese-language Singaporean newspaper, renamed its “Greater China” section (covering China, Hong Kong and Taiwan) simply “China”, reflecting China’s claim that Taiwan is its territory. It is one of the few foreign newspapers which are allowed to circulate in China.
As the Foreign Interference (Countermeasures) Act (Fica) was passed in October and aimed at countering foreign interference in domestic affairs, shouldn’t SPH be investigated to see if the Reds influenced its decision to drop “Greater China” in favour of “China”?
PM has offered the US the Digital Economic Partnership Act it signed with New Zealand and Chile as a starting point for a regional digital trade pact like CPTPP.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”) is a Free Trade Agreement (“FTA”) between 11 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The US negotiated an agreement that CPTPP is based on with 11 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. But then refused to join up. So the other countries signed the CPTPP. The US now wants to negotiate bi-lateral deals with the signatories.
China wants to join the CPTPP, to troll the US. The US saw the agreement on which the CPTPP as a way of isolating China.
Temasek is temporarily halting new investment in Chinese tech companies owing to uncertainty over Beijing’s crackdown on the sector, its chief strategist told Nikkei Asia.
Sipahimalani said once it is known what is expected of the tech platforms, it will be possible to assess the impact on businesses like Didi, and thus determine the merits of investing in a particular company.
Sipahimalani said China will remain a focus for Temasek.
He cited areas like medical technology, biotech, electric vehicles and renewable energy as high growth spaces in China that the investment firm will continue to look at, in addition to keeping an eye on how the situation in the tech sector plays out.
“These internet platforms are not going way,” Sipahimalani said. “They create millions of jobs, so … I don’t think anyone is going to think that they are going to go away, but the framework under which they operate, the rules under which they operate may go through some changes.”
This is the problem
“When there is no clarity about the regulatory rule book, it is difficult to say — is this fair value or not fair value — so I think we would rather be patient and wait.”
Ah yah go buy more things in MamaLand, the place the PAP govt loves
Whatever, in allowing in travellers from India, the PAP govt is doubling down on its love of all things from India. Imagine the uproar from S’poreans if one of these travellers is infected with Covid-19 and this results in another lockdown that is not really a lockdown: PAP govt’s idea of living with Covid-19?
Shipyards and fabricators that in the past turn out massive oil platforms are now assembling offshore wind kit, Hence SM’s move into renewables, a decade long transition. It says that work is progressing satisfactorily on the renewable projects it has on its books.
After the close of Temasek’s mandatory takeover at 8 cents a week ago, the shares closed at 8.5 cents on Friday. Now trading at 0.86 and 0.87.
Remember that Keppel is talking to SM about merging their offshore marine businesses.
I juz read that M Ravi is representing a group of ant-vaxxers. I’m not sure if this is the group of TRE readers that want to sue the govt for breaching their human rights. TRE is crowd funding for them.
Austria’s chancellor, Alexander Schallenberg, said that a national lockdown for those unvaccinated will begin on Monday. “I don’t see why two-thirds of the population should lose their freedom because another third hesitates,” he said. A surge in infections means 20% of intensive-care beds are currently occupied by covid patients. The country has one of western Europe’s lowest vaccination rates, at just 65%.
Stop playing nice to these anti-social S’poreans. Lock them down.
The scheduled ending for COP26 came and went on Friday, with no final decision in sight. Countries are still haggling over a possible commitment to phase out coal and fossil-fuel subsidies; financing for those suffering most from climate change; a framework for a global carbon market; and a way to judge whether countries are meeting their targets.
Economist Expresso
Limited progress has been made. New climate pledges, if respected, will put the world on track for temperatures of 2.4°C above pre-industrial levels by 2100—an improvement on previous prognosis of 2.7°C but significantly above the Paris agreement goal of 2°C (and preferably 1.5°C). China and America promised to work together to reduce their emissions over the next decade. More surprising than the declaration would be adherence to it.
Economist Expresso
And then there was talk cock, sing song from Obama: the only things he does well.
China’s factory inflation hit 26-year high as power crunch bites. Consumer prices will likely speed up in coming months as firms faced depleted inventories and are forced to pass higher costs onto customers.
Slowing economic growth and soaring factory inflation have fuelled concerns over stagflation, which could mean China has to move cautiously on loosening monetary policy.
“Rising CPI inflation and elevated PPI inflation reduces the probability of a PBoC policy rate cut,” said Ting Lu, Chief China Economist at Nomura.
Euro zone inflation rose to 4.1% for October, hitting a new 13-year high. And the new European Commission economic forecasts are set to see euro-area inflation at 2.4% this year and 2.2% in 2022, according to a draft seen by Bloomberg. The rate will then slow to 1.4% in 2023, the document showed.
But here’s a chart that could show that US inflation is transitory.
The FT’s Robert Armstrong says that this chart shows that the July and August reports made us think inflation was cooling. It isn’t but inflation is not getting worse, at least for now.
As goes the US of A, so goes the rest of the world, much to Grandpa Xi’s annoyance.
As PM said, the Delta variant (known as the Indian variant because it originated in India until the WHO changed the name) was a game changer in the fight against Covid-19. It is more infectious than the Kung Flu or the renamed Alpha, Beta or Gamma variants.
[T]he emergence of the Delta variant has put us in a changed situation.
The Delta variant is highly infectious, and has spread all over the world. Even with the whole population vaccinated, we still will not be able to stamp it out through lockdowns and SMMs. Almost every country has accepted this reality.
They say around 60% of people from South Asian backgrounds and 15% of people of European ancestry carry the high-risk version of the gene[that doubles the risk of lung failure and death from Covid-19].
…
They estimate the risky version of the gene is present in about 2% of people from African-Caribbean backgrounds and 1.8% of people of East Asian descent.
I’m really surprised that “Liar, Liar Pants on Fire Khan”* has not KPKBed that the PAP govt chooses to live with Covid-19 because the Chinese are a lot less likely to die from it than she and her fellow mamas.
Remember her rant against the judiciary claiming a Chinese RI boy and other Chinese got off relatively lightly vis-a-vis a Malay Muslim? She forgot to add that it was another Malay Muslim reported his fellow Muslim. In the other case, the church members didn’t think their pastor and his gang did anything wrong. It was the authorities that initiated action.
Surprised that the two Ravis (Political and Mad) are not KPKBing also about the danger to Indians of living with Covid-19, rather than suppressing it.
MTF stands Ministerial Task Force and MMTF stands for Multi Ministerial Task Force. They are the same team. MMTF is the official name, while many here shorten it to MTF.
Look Where Lee Hsien Loong, Lawrence Wong, Ong Ye Kung And Co Have Led Us!
100th placing in the Covid Recovery Index!One Place above Afghanistan! Indonesia is placed 41 and Malaysia 50. Japan leads Asia at No. 6 with China at 8 and Taiwan at 11. Even Bangladesh is way above us at 14th place!
And we are one of the tiniest countries in the World!
We really have become 3rd World for Covid! Can you believe that Lawrence Wong and Ong Ye Kung Are in the running to be the next PM? The PAP are really scrapping the bottom of the barrel!
And Singaporeans pay $53 Million a year for a cabinet of this type of quality????
The deal, agreed between more than 100 world leaders, was announced last Monday at the COP26 climate summit in Glasgow. It was the event’s first major announcement. It promises to end and reverse deforestation by 2030, and includes almostUS$19.2bn of public and private funds.
How is S’pore to trust the Indonesian govt?
And why should we vote for the SDP so long as Mad Dog Chee calls the shots there?
Among his wackier ideas is to trust the Indonesian govt. And to spend less on defence.
After winning a digital bank licence here last yr, the Grab-SingTel venture is expected to be in contention for more such licences in the region. I think it’s bidding for one such licence in M’sia with local partners.
The u/m shows why this j/v with Grab could be extremely lucrative.
Of course given the size of SingTel’s earnings’ base, any contribution is likely to be “peanuts” and on the margin. But who knows? The j/v can grow like Topsy, given the size of the addressable market and the connections SingTel can bring via its associates in Thailand, Indonesia and PinoyLand can bring. And there are the Pinoy and Indon maids that need to remit $ home.
In my portfolio SingTel is a dog, good dividend though which I take in scrip form, like Temasek.
So here’s hoping. LOL.
And with plenty of luck, maybe it’s associates in the Philippines and Indonesia may get really lucky:
Mobile phone operators MTN and Airtel have both received partial approval from the Central Bank of Nigeria to operate mobile payments in the country.
BBC report earlier today
The last paragraph was added at 1.80 pm on day of publication.
Chicken and egg. FAS as an organisation can’t even convince the general public they are running the sport in Singapore well, league’s not that great, quality of players subjective, stadiums are shared resources, funds are also not pouring in. With that, how do you even convince mindef that these are the elite athletes of the country? That they deserve to be treated differently from other professions or sports. And then once awhile we have someone like Harry or previously Ben Davis and we can’t give them our best but we call them traitors when they decide not to play for our country in the end.
The usual anti-PAP types like to KPKB that S’pore’s 7% (going to 9%) GST rate does not differentiate between “essential” (stuff like rice and other basic foods, medicine, books or services like medical consultations) and “non-essential” (cars, facials and massages)
In India, the GST rate for various goods and services is divided into four “slabs”: they are 5% GST, 12% GST, 18% GST, & 28% GST. The higher the rate, the more atas the product or service.
Cars carry 28% GST in India. This is something that the PAP govt should consider given that it would like to restrict car ownership. Can increase ministerial and civil salaries to cover increase lah. LOL
Seriously, the more complex the GST system, the costs of administrating it go up and the more people try to game it to their advantage. When I worked in Oz as a lawyer, it was amazing to see the amount of money and time companies would spend to avoid taxes. In a couple of cases, I even flew to a different state to sign agreements on behalf of the client to avoid paying taxes.
Thoughts of a Cynical Investor 