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Retrenched PMETs on the rise while observers say government not doing enough

According to a labour market report released by the Ministry of Manpower (MOM) on Thursday, PMETs accounted for a staggering 79.3% of retrenched residents in 4Q18. Overall, 2510 people were retrenched in the 4th Quarter. This marks a substantial year-on-year increase of about 30% from the 2017 statistic and is also the highest...

Temasek-owned SingPost to divest US e-commerce business after investing $250 million barely 3 years ago

After several social media sagas on its service standards, Bloomberg reported on Wed (13 Mar) that Singapore Post will reduce or divest its US e-commerce business after conducting a strategic review of the units. Back in 2015, the Temasek-linked company had bought majority stakes in two companies - TradeGlobal Holdings Inc and...

GIC invests $700 million in Bharti Airtel after Moody’s cut its rating to ‘junk’

The Asia Times reported last week (8 Mar) that Singapore’s Government Investment Corporation will subscribe to 50 billion rupees ($713 million) worth of Bharti Airtel’s rights issue in exchange for an approximately 5% stake in the latter. The Delhi-based Telecommunications Company is the second largest mobile network operator...