Inflation forecast cut to 1.5-2.5% by MAS

The Monetary Authority of Singapore (MAS) on Monday lowered its headline inflation outlook to 1.5-2.5 per cent for 2014 due to decreased cost pressures from accommodation and private road transport.

But the central bank also said it is keeping its policy of allowing a modest and gradual appreciation of the Singapore dollar. 

This is because core inflation - which excludes accommodation and car prices - is still a key concern.

12,060 COEs for May to July, monthly quota up 32%

There will be 12,060 Certificates of Entitlement (COEs) for May to July 2014, said the Land Transport Authority (LTA).

A monthly quota of 4,019 has been set aside -- a 32 per cent increase compared to the last three months of February to April 2014.

The increase is mainly due to more cars being scrapped this year.

M'sia, S'pore welcome progress on joint projects

Singapore’s Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Razak have welcomed both countries' steady progress on joint iconic projects in Singapore and the Iskandar region, as well as in other areas of co-operation.

At a joint press conference on Monday morning, both leaders also reviewed the progress on improving connectivity between Malaysia and Singapore, including the proposed high-speed rail (HSR) and a rapid transit system link (RTS).

The announcements were made following the fifth Malaysia-Singapore Leaders' Retreat in Putrajaya on Monday.

HDB resale prices up 0.3% in March

HDB resale prices rose slightly by 0.3 per cent in March compared to February, according to a flash report by the Singapore Real Estate Exchange (SRX).

The price increase was led by smaller flats -- 3-room flats rose 0.5 per cent and 4-room flats increased by 0.8 per cent.

But prices of bigger flats -- both 5-room and executive flats -- continued to soften, dropping by 0.2 per cent and 0.7 per cent respectively.

On a year-on-year basis, prices in March 2014 were down 4.9 per cent from the same period last year.

New permanent secretary for defence development

The Ministry of Defence (MINDEF) will have a new Permanent Secretary (Defence Development) from 1 May 2014.

He is 48-year-old MG (NS) Ng Chee Khern, who was the Chief of Air Force from March 2006 to December 2009 and is currently Director, Security and Intelligence Division.

A statement from the Public Service Division said MG (NS) Ng will oversee policies and issues related to manpower, finance, information technology, and defence technology acquisition and research.

Singapore students top PISA problem-solving test

Singapore students have topped an international assessment on problem solving.

This is based on results for the 2012 Programme for International Student Assessment (PISA), a worldwide study by the Organisation for Economic Co-operation and Development (OECD).

85,000 students worldwide took part in a computer-based problem-solving test.

And Singapore students beat other 15-year-olds from countries such as Japan, China and Finland.