The Week in Retrospect (Jan 5-11)

The second week of 2015 sees falling oil prices, job cuts, mixed hiring outlook, new mobile apps and corporate restructuring in Hong Kong

Standard Chartered closes Equities, sheds jobs in surprise move: The Asia-focused bank has announced not only the closure of its Equities business, but also the axing of a further 2,000 jobs from its retail banking side, on top of the 2,000 already cut, in a bid to save hundreds of millions.

Plunging oil prices make the world go round: Pockets are deemed to grow and share prices are seeing some bad predictions as all eyes are on the winners and losers of the recent oil price crash that have stolen the limelight in global economy news.

Mobile app to help reduce energy and water consumption: A new mobile app has been launched by SP Services, in collaboration with Energy Market Authority (EMA) and PUB, to help consumers reduce energy and water consumption, lower their utilities bill and conserve the environment. The app is available on both Apple’s iTunes and Google Play Store.

Singapore firm launches mobile app for halal foodies: A Singapore-based company launched a mobile application, HalalTrip, that enables users to share halal restaurant discoveries around the world.

Mixed hiring outlook in 2015 for Singapore: 49% of about Singapore companies surveyed said they will freeze hiring in 2015 and 22% said they will only increase headcount for less than 5%.  Salary increment has a more positive outlook as 79% of firms said they intend to raise wages although 39% will only hike for 0-3%. The survey is conducted by Achieve Group and polled about 500 firms in Singapore across 9 sectors.

Asia tycoon unveils restructuring plan: Li Ka-shing announces corporate restructuring plans, unlocking billions to investors and rallying the markets.


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