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Tag: singapore

  • Buhari signs bilateral air agreements with China, Singapore, three other countries

    President Muhammadu Buhari on Monday signed bilateral air service agreements with five countries.

    The five countries are Algeria, Congo, China, Qatar, and Singapore.

    The signing was confirmed in a statement by Mr. Buhari’s spokesperson, Garba Shehu.

    “Following the approval of the Federal Executive Council, FEC, President Muhammadu Buhari on Monday in Abuja signed the Instruments of Ratification of the Bilateral Air Services Agreements between the Government of the Federal Republic of Nigeria and the Governments of the People’s Democratic Republic of Algeria; the Republic of Congo; the People’s Republic of China; the State of Qatar and the Republic of Singapore.

    “With the execution of these Instruments, it is expected that Nigeria’s aviation links with the respective countries will improve significantly,” Mr. Shehu said.

  • Bitcoin warnings grow more strident as Singapore central bank urges ‘extreme caution’

    Bitcoin warnings grow more strident as Singapore central bank urges ‘extreme caution’

    Global financial regulators are beginning to warn the public against the risks of investing in a market that many feel is in a speculative bubble, with Singapore central bank on Tuesday urging “extreme caution” about buying cryptocurrencies.

    The staggering growth of bitcoin and other decentralised digital currencies this year – with the market swelling from around $17 billion at the start of January to well over $600 billion now – has led to increasing concerns over what the fallout could be if the bubble were to suddenly burst.

    There have also been worries that regulators have not been doing enough to protect consumers. Many, though, say investors must take responsibility and must not expect protection if they lose money because of the difficulties of regulating an opaque, complex market that has no centralised authority.

    The Monetary Authority of Singapore (MAS) said in an official statement on Tuesday it is “concerned that members of the public may be attracted to invest in cryptocurrencies, such as bitcoin, due to the recent escalation in their prices”.

    “MAS considers the recent surge in the prices of cryptocurrencies to be driven by speculation,” the central bank said in a statement. “The risk of a sharp reduction in prices is high. Investors in cryptocurrencies should be aware that they run the risk of losing all their capital.”

    The city-state’s central bank added that there is no regulatory safeguard for investments in cryptocurrencies and that it does not regulate them either.

    It urged the public to act with “extreme caution” and to understand the “significant risks” they take on if they invest in virtual currencies.

     

    Reuters

  • Mugabe out of Zimbabwe to Singapore

    Former president of Zimbabwe Robert Mugabe has left the country for medical checks in Singapore, his first foreign travel since the army forced him from office in November, a state security official said on Tuesday.

    The 93-year-old, who ruled the southern African nation for 37 years, resigned after the army and his ruling ZANU-PF party turned against him when it became clear that his 52-year-old wife, Grace, was being groomed as his successor.

    Until recently, Mugabe had a reputation for extensive and expensive international travel, including regular medical trips to Singapore, a source of public anger among his impoverished citizens.

    The official said he left Harare with Grace and aides on Monday evening, the official said.

    He is expected to make a stop-over in Malaysia, where his daughter, Bona, is expecting a second child.

    “He has gone for a routine medical trip to Singapore,” said the official, who has organized Mugabe’s security protection but who is not authorized to speak to the media.

    “He was due for a check-up but events of the last few weeks made it impossible for him to travel.”

    The trip means Mugabe will not be in Zimbabwe when ZANU-PF endorses President Emmerson Mnangagwa as its leader and presidential candidate for 2018 elections during a one-day special congress on Friday.

    The security official would not say how Mugabe was traveling although the privately owned NewsDay newspaper said he was on a state-owned Air Zimbabwe plane.

    Mugabe was granted immunity from prosecution and assured of his safety under his resignation deal, a source of frustration to many Zimbabweans who accused him of looting state coffers and destroying the economy during his time in power.

    Another government official told Reuters in November that Mugabe had been due to travel to Singapore on Nov. 16 but was unable to leave because the military had confined him to his private home the previous day.

    George Charamba, a senior information ministry official, declined to comment.

    Under Zimbabwe’s Presidential Pension and Retirement Benefits Act, a former head of state is entitled to perks including limited foreign travel and medical insurance.

    “These are very standard features of a retired president,” another government official said, trying to head off any controversy.

    “You are making a storm out of nothing.”

     

  • Facebook co-founder, Eduardo Saverin becomes Singapore’s richest person

    Facebook co-founder, billionaire Eduardo Saverin, who became a Singapore resident after renouncing his U.S. citizenship in 2012, has been announced the island-nation’s richest person.

    35 years Saverin, who is estimated to worth of $10.1 billion (net), edged past property siblings Robert & Philip Ng, who have occupied the top spot as Singapore’s richest since 2010 and have an estimated fortune of $10 billion.

    The Facebook co-founder has enjoyed a boost to his wealth from rising shares of Facebook, in which he continues to hold a minority stake.

    Since Forbes Asia’s compilation of Singapore’s 50 Richest in August, when the Brazilian-born entrepreneur was ranked at No.2 with $9.3 billion, Facebook’s stock is up by close to 13%, according to Forbes.

    According to Forbes, while Saverin derives most of his wealth from the social media firm, he is now a venture capitalist with a slate of investments in Southeast Asia and beyond.

    “This week, for example, his B Capital Group, together with business legend Ratan Tata and others, invested in MSwipe Technologies, an Indian fintech firm,” Forbes stated.

     

  • Singapore international passport ranks ‘world’s most powerful’ – Report

    The Singapore passport has been ranked the “most powerful” in the world, according to the Global Passport Index released on Wednesday by global advisory firm Arton Capital.

    The ranking is based on a “visa-free score,” which tabulates the number of countries a particular passport-holder can travel to without requiring a visa or a visa on arrival.

    The Singapore passport topped the list with a visa-free score of 159, narrowly beating the German passport with a score of 158 and the Swedish passport with 157.

    The list is usually dominated by European passports, with Germany holding the top position for the last two years.

    However, Paraguay’s removal of visa requirements for Singapore passport holders propelled it to the top of the list in 2017.

    “For the first time ever, an Asian country has the most powerful passport in the world.

    “It is a testament of Singapore’s inclusive diplomatic relations and effective foreign policy,” Arton Capital Managing Director Philippe May said.

    Other Asian countries that made it into the top 20 include South Korea, Japan and Malaysia.

    Meanwhile, the U.S. passport has taken a tumble in rankings since President Donald Trump took office, following decisions by Turkey and the Central African Republic to revoke visa-free entry for U.S. passport-holders.

     

     

    dpa/NAN

  • Mugabe in Singapore for medical treatment

    Mugabe in Singapore for medical treatment

    Zimbabwe’s 93-year-old President Robert Mugabe is in Singapore for a “routine medical check-up”, state media reported Sunday.

    “President Mugabe on Friday left the country for Singapore for a routine medical check-up,” the Sunday Mail newspaper reported.

    The paper said the veteran ruler is expected back in Zimbabwe midweek.

    Information and Broadcasting Services Minister Chris Mushohwe told the newspaper Mugabe was in Singapore but declined to confirm the reason for the visit.

    The ruling ZANU-PF party said on Saturday it had cancelled a youth rally scheduled for July 14 due to be attended by the president because he would be out of the country.

    Charamba and Mushohwe did not respond to calls and messages to their phones for comment.

    Despite growing concerns about his health, Mugabe has taken more than ten trips abroad this year and wants to seek another five-year term in office in 2018.

    He has ruled the southern African nation since independence from Britain in 1980.

    The government has denied he falls asleep in meetings, saying in response to television footage appearing to show him doing so that he is resting his eyes.

    Mugabe has racked up more than 200,000 air miles since the start of 2016. He spent $53 million on foreign trips last year, more than double the initial budget of $23 million, according to government data.

    Reuters