Daily Debrief: What Happened Today (Aug 31)
Stories you might have missed
Singapore has allocated S$220 million over three years to bolster the fintech sector, as part of the Financial Sector Technology and Innovation (FSTI) scheme's next installment. The Southeast Asian neighbors, Singapore and Indonesia, have implemented a framework enabling bilateral transactions to be settled in their respective local currencies.
The government has increased average land betterment charge (LBC) rates across most property sectors by 3.4% on average for non-landed residential properties, and 3.5% for landed residential uses. Hoi Hup Realty acquired Australia's Four Points by Sheraton Sydney for A$201.8 million (US$144.6 million), marking its first venture into the Australian property market.
Gilstead Court owners are attempting an en bloc sale once again, offering the freehold site in Novena at a reserve price of S$198 million. Singapore has fallen to the third busiest container port globally in the first half of this year, overtaken by Ningbo-Zhoushan, while handling 4.7% or 22.7 million more 20-foot-equivalent-units (TEUs).
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
