Most Lucrative Jobs For Those In Singapore

A recent survey by the top three universities in Singapore has found that the median salary for degree holders rose to $3,200 for the graduating class of 2014. That’s a 5% increase over last year. Unemployment rates are consistently lower than 3% in Singapore.

According to GET.com, here are the 10 best paid jobs for degree holders in Singapore.

10. Quality Assurance

9. Research and Development

8. Property Management

7. Corporate Affairs

6. Finance and Accounting

5. Production

4. Project Management

3. Information Technology

2. Legal

1. Engineers

Learn more and see the full descriptions.

China’s Cabinet Creates New Department

China’s Cabinet has just created a new department to coordinate financial and economic affairs as a goal of restoring investor confidence in the government’s regulation of markets. The move has not been publically announced yet, but was reported to Bloomberg Business by an insider. Agricultural Bank of China VP Li Zhenjiang was nominated as the deputy director who will be responsible for the daily operations and he has just taken the post.

The move shows an understanding by Communist Party leaders that the current structure needs to be redone as a reflection of China’s markets and their economic slowdown. The Shanghai Composite Index has decreased more than 17% since late December.

Learn more about these plans and pay attention to their implementation in the weeks ahead.

Japan Plans Climate Financing Initiatives

Japan recently said that it plans to provide 1.3 trillion yen ($10.6 billion) in climate financing a year for developing countries from 2020. This would include both public and private funds. Prime Minister Shinzo Abe made this announcement as he gets ready to join over 100 world leaders in Paris to negotiate an agreement to limit climate change.

As he said, “Our country attaches importance to the participation of all countries in a new international framework.”

The new plan would be an increase from the current 1 trillion yen ($8.2 billion) a year that they give now. As Japan’s chief negotiator in the talks, Atsuyuki Oike said, “I think we are on the right track and I hope our contributions will be a big step forward.”

He explained that the ratio of public to private funding was not yet decided.

Japan has committed to reducing carbon emissions from their 2013 levels by 26% by 2030. While they have drawn criticism for being less ambitious than other countries, Oike has countered by saying, “Our efforts are very much substantial and ambitious. That is what we believe.”

Learn more by reading the whole article.

Relationships Between Singapore and Russia

Commercial links between Singapore and Russia are growing. This progress was recently noted after the sixth session of the High-Level Russia-Singapore Inter-Governmental Commission (IGC) which took place in Moscow. The event was chaired by Mr Tharman Shanmugaratnam, the Deputy Prime Minister and Coordinating Minister for Economic and Social Policies along with Mr. Igor Shuvalov, the First Deputy Prime Minister of the Russian Federation.

There is interest by Singapore’s offshore and marine companies to have opportunities in Russia. Food production companies in both companies are also interested in having cross-border exports.

Both countries have agreed to start the process to negotiate for a comprehensive free trade agreement between Singapore and the Eurasian Economic Union (EAEU).

Learn more details here.

Scottish Beers Coming to China

A group of Scottish beer producers have set their sites on China, Hong Kong and Dubai. the Inveralmond Brewery in Perth and the Eden Mill Distillery and Brewery at Guardbridge have benefited from the Craft Beer Clan efforts.

As Eden Mill owner Paul Miller said, “This market has been fantastically good for us. The latest order has been our third to China through Craft Beer Clan in the last year. We are excited about the Chinese market which has a lot of potential for further growth for our brewery.”

The Craft Beer Clan is the international division of Glasgow-based food and drink wholesaler JW Filshill. Their goal is to help Scottish craft brewers and distillers enter the Asia Pacific region. It is currently working with 22 brewers and four craft distillers across Scotland. They have also brokered deals with importers in Taiwan and secured orders in Thailand and Panama.

As Chris Miller of JW Filshill International said, “We attended the key whiskey exhibition in Beijing and Shanghai in August with the Single Malt Club, our distributor in China. The Chinese market is key to our international growth as consumers, they are hugely interested in Scotland and have a particular appetite for Scotch whiskey as well as premium food and drink products.

 

Uber Battles it out in China

Uber is now hoping to raise $2.5bn for its China unit. This would double the amount the company has already raised.  They are locked, at the moment, in a fierce fight with their Chinese rival, Didi Kuaidi. They have already raised $3bn in a round that closed recently. The race for the market between the two companies will be determined by who can raise the most money. Uber’s Chinese investors include Baidu, while Didi’s include Tencent and Alibaba.
Uber has said it plans to invest $1bn this year in China. Chief Executive Travis Kalanick described it as “one of the largest untapped opportunities for Uber, potentially larger than the US”.

Uber just announced a new carpooling service in Chengdu, Southwest China. This is the first time that they have launched a brand new service outside of the US. The service is being called “UberCommute” and it will enable long-haul commuters to pick up other passengers for a free who are going in the same direction.

 

 

Netflix Comes to Japan

The Japanese market is abuzz with the news that Netflix, the streaming video provider, is coming to the Japanese market.  They entered the New Zealand and Australian markets in March of 2015 and they will be launching in Spain, Italy and Portugal in October. Their goal is to achieve a presence in 200 countries by the end of 2016.

As Reed Hastings, chief executive officer at Netflix said, “With its rich culture and celebrated creative traditions, Japan is a critical component of our plan to connect people around the world to stories they love. As we expand into Asia, we’re excited Netflix members increasingly will have access to some of their favorite movies and TV shows no matter where they are.”

Netflix plans to open a regional office in Tokyo. As Gregory K. Peters, who will be the general manager of Netflix Japan said, “It is an honor to bring Netflix to Japan, and we’ll work hard to please consumers there. People in Japan soon will have access to great entertainment from all over the world for a low monthly price, while our more than 57 million members will benefit from increased access to great Japanese films and TV shows.”

 

Financial Times Selling to Nikkei

Pearson is selling the Financial Times to the Japanese media group Nikkei for £844m in cash. The British company will hold onto FT Group’s 50pc stake in the Economist. It will also keep its building on the south bank of the Thames.

As Pearson’s chief executive, John Fallen, said, “Pearson has been a proud proprietor of the FT for nearly 60 years.

“But we’ve reached an inflection point in media, driven by the explosive growth of mobile and social. In this new environment, the best way to ensure the FT’s journalistic and commercial success is for it to be part of a global, digital news company.”

Read the whole story and more on the agreement.

China Real Estate Picking Up…But Only in Larger Cities

China’s metropolitan areas have witnessed a financial and property revival while the recovery in smaller cities has been much slower. The home sales volume in tier-1 cities surged 42.9% in teh first half of this year from last year. For tier-2 cities the uptick was 16.9% and for tier-3 cities there was a fall of 2.9%.

The recovery for the housing market in tier-3 and tier-4 cities is weighted down by high inventories, according to Zhang Dawei, chief analyst at Centaline.

China reduced the down payment levels for second-home buyers in March. It is now 40%, rather than the 60-70% that was previously required. They also exempted business tax for sales of homes that are purchased over two years ago.

Read the whole article to see more of the nuance of the issue.

Hong Kong Approves Government Spending for City Crossing

Hong Kong lawmakers have approved for the government to spend HK$17.5 billion to construct the city’s 7th crossing to Shenzhen. They discussed the idea for three weeks before coming to their current conclusion. This money will be put with the already approved HK$16.25 billion that was approved in July 2012.

Legco’s Finance Committee backed the funding after the 26-10 approval. Learn more about the process and the conflicts that arose around it.