Monday, February 27, 2017

Future economy needs future-ready social safety net

Chua Mui Hoong
Opinion Editor

FEB 26, 2017

As job insecurity looms in a world of churn, we need to attend to the well-being of citizens too
As a consumer, I love start-ups. Airbnb, Uber and car-sharing apps transformed my vacation experiences, opening up cheaper - and more interesting - accommodation and transport options. You can live in someone's lovely house, get to know them and their family, drive a neighbour's car, order food in when you feel like it, and even make new friends instantly via social meet-ups.

In Singapore, I use Uber, Grab and food-delivery platforms. I order food in restaurants from iPads. (Smartphone QR code ordering should be next.) I console myself that when my job is taken over by a robot one day, I can make extra income from renting out my car and extra room in my apartment.

[For people in her generation, who were able to secure a home and a car under the old economy, she can now leverage on these "assets" to generate income. What about the generation in the new economy who has not been able to afford their home and car? The "new economy" isn't new. It does not create any new value. It does not create wealth. It merely monetises the extraneous assets of the old economy.]

Thursday, February 23, 2017

Singapore Budget 2017: 7 things about water price changes

 Water tariffs will be going up for the first time since 2000, but HDB households will be getting help to offset the increases.

FEB 20, 2017

Chew Hui Min

SINGAPORE - Water tariffs will be going up for the first time since 2000.

But Housing & Development Board (HDB) households will be getting help to offset the increases.

Here's what you need to know:

Women's life expectancy on track to hit 90 in some nations

22 Feb 2017


PARIS: By 2030 life expectancy for South Korean women could top nine decades, an average lifespan long thought to be out of reach, researchers said Wednesday (Feb 22).

South Korea is not only the first country in the world where women may live past 90 on average, it is also the one on track to log the biggest jump in longevity, they reported in The Lancet medical journal.

Other developed countries are not far behind: the longevity of French and Japanese women are more likely than not to stretch past 88 years.

Wednesday, February 22, 2017

Taxing e-commerce players such as Amazon one way to raise Govt revenue: Experts


FEBRUARY 22, 2017

SINGAPORE — With the Government needing to impose new taxes or raise existing ones to fund growing healthcare and infrastructure expenditure, tax experts have suggested several ways for the country to boost its coffers: Taxing e-commerce operators such as Amazon and Taobao as well as those providing business-to-business (B2B) services, creating a new tax bracket for the ultra-rich, and increasing the goods and services tax (GST) rate.

While Singapore has one of the lowest corporate tax rates globally, the experts noted that raising these rates was not a viable option if the Republic wants to maintain a competitive tax regime at a time when countries around the world are seeking to reduce corporate taxes. Nevertheless, they singled out the burgeoning digital economy as one potential revenue source.

The rise of e-commerce has resulted in a loss of tax revenue, as overseas online retailers are generally not taxed in Singapore on their income generated from consumers here.

China finishing South China Sea buildings that could house missiles: US

22 Feb 2017 09:02


WASHINGTON: China, in an early test of U.S. President Donald Trump, is nearly finished building almost two dozen structures on artificial islands in the South China Sea that appear designed to house long-range surface-to-air missiles, two U.S. officials told Reuters.

The development is likely to raise questions about whether and how the United States will respond, given its vows to take a tough line on China in the South China Sea.

China claims almost all the South China Sea, which carries a third of the world's maritime traffic. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims. Trump's administration has called China's island building in the South China Sea illegal.

Building the concrete structures with retractable roofs on Subi, Mischief and Fiery Cross reefs, part of the Spratly Islands chain where China already has built military-length airstrips, could be considered a military escalation, the U.S. officials said in recent days, speaking on condition of anonymity.

Tuesday, February 21, 2017

Budget 2017: The main points

Some articles on the Budget.

The first one is a broad overview. It is so broad that it even commented that Minster of Finance is back.

The second article goes into the essential details - water rates to go up, a carbon tax (in two years), differentiated tax for heavy motorcycles, measures for young couples buying their first flat, and help for businesses, and employees/job-seekers.

Monday, February 20, 2017

Is WWIII imminent? Speculations.

China. South China Sea. An unhinged Trump, thin-skinned and impulsive. Recipe for another World War?

The first article with a short clip suggests that there are similarities. Whether those similarities are superficial or essential, remains to be seen. The hope seems to be that while the problems and the situations are the same, how the world now answers the questions posed by those problems are intended to avoid war.

But then again, there is Trump, who seems eager to prove that he does not follow (or know) the rules.

So are we heading for an inevitable World War III?