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June, 1, 2016

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Business > Asia > Singapore
Oil extended its "disconcerting" plunge towards six-year lows in Asia Tuesday after Wall Street giant Goldman Sachs lowered its price forecast, adding to concerns about a supply glut and weak demand.
 
Employers in the maritime sector say that foreign applicants often pip Singaporeans to the job because of a sense that they are more willing to work under the tough conditions in the industry.
 
Boosted by late-session buying, the local market closed at above the 9,300-point mark on the last trading day of the year, setting a 25-year record.
 
The Singapore Exchange announced on Monday it will upgrade its derivatives trading and clearing platforms to improve risk controls, increase efficiency and lower costs for market participants.
 
Shares of Everlight Electronics Co. (億光), one of Taiwan's leading LED lighting and product suppliers, moved higher Thursday morning after the company announced a day earlier that it will invest NT$30 billion (US$943 million) over the next few years to expand production.
 
Singapore's economy is expected to slow to growth of 3.0 percent this year as a global deterioration hits the city-state's crucial trade outlook, the government said Tuesday.
 
New Housing Board flats have become more affordable relative to applicants' household incomes, compared with last year.
 
Authorities may need powers to regulate the fixed pay of bankers as well as their bonuses, the Bank of England governor said Monday amid concern the current pay regime does not deter misbehavior.
 
The U.S. dollar rose against the Taiwan dollar Wednesday, gaining NT$0.064 to close at NT$30.602 after the local central bank seized the weakness of other regional currencies as a cause to bolster the greenback, helping the currency recoup earlier losses, dealers said.
 
Emerging Asian nations are finding out what developed ones did years ago: money -- and the stuff it buys -- brings happiness.
 
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