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Stabilized overall financial situation for Chinese companies - Coface study

Coface interviewed over 1.300 companies in various sectors with different legal profiles, for its ninth study of domestic payment behaviour of Chinese companies.

Despite the slowdown in activity in 2011 given the halt of the fiscal stimulus package, tighter monetary policy and the deceleration in external demand, Chinese companies’ payment behaviour remained globally satisfactory with sales on credit rising sharply.

Key points of this press release enclosed are:

Door is open for more foreign law firms here

The pace of liberalisation in Singapore's legal sector is set to kick up another notch, as the government stands ready to issue a second round of Qualifying Foreign Law Practice (QFLP) licences to foreign law firms.

The Law Ministry yesterday announced it will be accepting applications for more QFLP licences between June and August, and will announce the awarding of new licences by the end of the year. Firms will then have six months to set up their Singapore office.

Singapore tops global trade and logistics performance lists

Two recent lists compiled by the World Economic Forum (WEF) and the World Bank measuring the performance of global economies have named Singapore top of the pack.

The Republic was ranked number one in both the WEF's Enabling Trade Index (ETI) as well as the World Bank's Logistics Performance Index (LPI).

Out of 132 countries, Singapore was named number one on the ETI for having well-developed institutions, policies and services which facilitate the free flow of goods across borders.

Singapore sets up Asia's first industrial remanufacturing R&D centre

Singapore has set up Asia's first centre to drive value-added remanufacturing activities that can be readily adopted by industry.

The Advanced Remanufacturing & Technology Centre (ARTC) will look into research and development (R&D) to develop technologies for remanufacturing.

These technologies will enable companies and businesses to translate end-of-life products into "good as new" ones for the market through a sustainable process.

Augmenting Life Universally

Please click on the image to read the Viewpoint Francois Guibert, Executive Vice President and President, Greater China & South Asia Region, STMicroelectronics,  which was published in The Business Times, Weekend edition, under the masthead of “From The Desk Of …” on 19 May 2012.

Passenger traffic at Changi up 12.7% on-year in April

Singapore Changi Airport reported a 12.7 per cent on-year increase in passenger traffic to 4.21 million for April this year.

In line with the growth in passenger traffic, aircraft landings and take-offs rose 8.8 per cent to 26,400 flights.

According to the Changi Airport Group (CAG), passenger traffic improved on-year across all regions with routes to and from the Middle East, South Asia, Northeast Asia and Southeast Asia achieving strong results.

Singapore Q1 GDP up 1.6% on-year

Singapore's economy grew 1.6 per cent on-year in the first quarter, compared to 3.6 per cent growth in the preceding quarter.

On a quarter-on-quarter basis, Singapore's economy grew by 10 per cent, reversing the 2.5 per cent contraction in the previous quarter. The figure was slightly higher than the 9.9 percent reported in Advance Estimates released last month.

Singapore is maintaining its economic growth forecast for 2012 at one to three per cent, amid uncertainty in the global economy.