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PMD ban puts dent in Singapore's car-lite ambitions

SINGAPORE (Nov 11): Love them or hate them, personal mobility devices (PMDs) have made their presence felt in Singapore. But with the introduction of a ban on their use on footpaths effective Nov 5, you will see less of these devices.

Starting January, PMD users caught riding on pavements will be fined up to $2,000 and may be jailed for up to three months. The ban by the Singapore Land Transport Autho­rity­ (LTA) restricts the use of PMDs to just park connector networks.

Briefs

SINGAPORE (Nov 11): “The system of making capitalism work well for most people is broken.”Ray Dalio, founder of hedge fund Bridgewater Associates

Trump-Xi trade summit likely pushed to December

US President Donald Trump and Chinese President Xi Jinping may not be able to sign a partial trade deal until December, and two US locations have been ruled out for their highly anticipated meeting, according to a person familiar with the matter.

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SIA sees results of digital transformation as journey reaches last leg

SINGAPORE (Nov 11): Under CEO Goh Choon Phong, Singapore Airlines has embarked on — and is nearing the end of — a three-year digital transformation journey that has left “no stone unturned”. There are some promising ventures on the horizon, but as the company’s most recent results have shown, its core business is still the main revenue earner.

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At OCBC, banking is about lifestyle and digital transformation

SINGAPORE (Nov 11): These days, banks are no longer just providers of financial services. With smartphones and artificial intelligence (AI), banking apps know a lot more about their users. For Pranav Seth, this means he can design banking and other services around users’ lifestyles and their needs and wants.

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SoftBank falls as Son says business as usual after record loss

SINGAPORE (Nov 11): Masayoshi Son wants investors to believe that a record loss from investments in money-losing start-ups WeWork and Uber Technologies is but a bump in the road. Some are not buying it.

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Son desperately needs that second US$100 bil

SINGAPORE (Nov 11): SoftBank Group Corp chairman Masayoshi Son is in the kind of pickle that even Jamie Dimon cannot get him out of.

Earnings for the September quarter show just how badly his Vision Fund is performing, and accelerate the need to raise a second incarnation just to keep the money flowing through SoftBank’s books.

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Thakral's property bets

Thakral Corp, which has its roots in trading, is going big on retirement resorts in Australia. CEO Inderbethal Singh Thakral is also trying to catch the revival in Japan brought about by the Tokyo Olympics.

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Thakral's retirement resort brand GemLife poised for further expansion

(Nov 11): The Australian residential property market has suffered a multi-year downturn, but Thakral Corp is optimistic that its retirement resort venture, GemLife, is relatively immune from the upheavals in the wider property market and poised for steady growth ahead. “Demand exceeds supply at the moment,” says Kevin Barry, joint managing director of Thakral Capital Australia, in an interview.

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Thakral believes it now has a 'proven story' to tell

(Nov 11): The Thakral family started out as traders and made additional wealth from real estate. They are ready to apply the same trading mindset to owning properties: When the timing is right and the opportunity is there, they are happy to book a gain. In August 2017, Thakral Corp sold a warehouse in Kowloon, Hong Kong that was previously used for its trading and distribution business.

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