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This stance will change the price of goods and services in SG. I think it is a necessary policy move at some juncture, but the effects on the population may not be very positive. http://www.straitstimes.com/business/economy/mas-sets-zero-appreciation-path-for-singdollar-with-switch-to-neutral-policy-stance Monetary Authority of Singapore sets zero appreciation path for Singdollar with switch to neutral policy stance Marissa Lee SINGAPORE - The central bank will set the rate of the Singapore dollar's appreciation to zero per cent, in a move to support economic growth against a dimmer global economic outlook since its last meeting. The Monetary Authority of Singapore (MAS), which uses the currency rather than interest rates to guide the economy said on Thursday (April 14): "This is not a policy to depreciate the domestic currency, and only removes the modest and gradual appreciation path of the S$NEER policy band that was in place." The Singapore dollar tumbled 0.9 per cent to $1.36 levels to the US dollar on the news. At 8:36am, the Singdollar was trading at $1.3626 to the greenback from Wednesday's close of $1.3501. The Singapore dollar has strengthened more than 5 per cent versus the greenback this year as traders pushed back forecasts for when the Federal Reserve will raise US interest rates due to heightened global risks. Thursday's shift to a "neutral poliy stance" is a departure from the policy of modest and gradual S$NEER appreciation that the MAS had adopted since April 2010, after the last financial crisis. The Singapore dollar nominal effective exchange rate, or S$NEER, is a trade-weighted exchange rate in which the currencies of Singapore's larger trading partners bear more weight. The MAS move comes as a surprise to the market - 12 of 18 private sector economists polled by Bloomberg had expected the MAS to maintain its current policy stance at the scheduled bi-annual meeting, rather than ease. MAS eased policy in January and October last year, both times reducing the slope of the Singapore dollar's appreciation path. MAS said on Thursday: "Compared to expectations in October 2015, the Singapore economy is now projected to expand at a more modest pace this year, against the backdrop of a less favourable external environment. MAS Core Inflation is likely to pick up gradually over 2016 as the disinflationary effects of Budgetary and other one-off measures fade. However, the increase in core inflation will be milder than earlier expected." "CPI-All Items inflation will remain negative throughout 2016. Over the medium term, core inflation is expected to average slightly below 2 per cent." The central bank adjusts the pace of appreciation or depreciation of the Singdollar by changing the slope, width or centre of the band. It does not disclose details of the basket, the band, and the pace of appreciation or depreciation. The MAS holds its next policy meeting in October.

http://www.channelnewsasia.com/news/singapore/proposed-more-monetary/1116040.html SINGAPORE: National Servicemen could receive more monetary rewards as part of a new NS HOME (Housing, Medical and Education) Awards, should proposals raised by the Committee to Strengthen National Service be accepted by the Government. The Committee to Strengthen National Service (CSNS) recommended disbursing S$2,000 extra, in Medisave grants, at each of the three “milestones” an NSmen reaches, under the proposed NS HOME Awards, which will replace the existing National Service Recognition Award (NSRA). Currently, the NSRA pays S$3,000 each, when one completes fulltime NS, is at the mid-point of the Operationally-Ready NS Training Cycle, and upon completion of his NS obligations. With the exception of the first payout, which goes into an NSman’s Post-Secondary Education Account, the other two disbursements are split among the Ordinary, Medisave and Special accounts. Under the proposed new award, the first tranche of S$3,000 will still go into an NSman's Post-Secondary Education Account. The S$3,000 at the second and third milestones will go only into the Ordinary Account, while the extra S$2,000 for each milestone will go into the Medisave Account. This is one of a raft of recommendations the CSNS has submitted for the Government’s consideration on Thursday. The timeline for the various proposed changes to kick in depends on when they get accepted by the Government. The recommendations were made after an extensive public consultation exercise lasting about a year. It engaged more than 40,000 people who are stakeholders of National Service (NS). Apart from NSmen, employers, new citizens, women and pre-enlistees were also consulted. Providing an overview of the recommendations at a press conference, Defence Minister Ng Eng Hen, the chairman of the Committee, noted: "The benefits must never become a monetary transaction for services rendered." IPPT AND RT Among the other proposals, NSmen who fail their Individual Physical Proficiency Test (IPPT) will have a longer period to complete their 20 remedial training (RT) sessions – increased from the current three months to one year. The Committee also proposed increasing the incentives by S$100 for achieving an IPPT pass with incentive, silver or gold to S$200, S$300 and S$500 respectively. Another recommendation was to scrap the rule that requires NSmen to notify Mindef on overseas trips unless they are more than two weeks in duration. NSmen will still have to inform the ministry if the overseas trip is more than six months. The current rules state that any NSman out of the country for 24 hours or more has to notify the ministry. MORE REGULARS Separately, the committee proposed the hiring of 1,100 more regulars for the Singapore Armed Forces and 230 for the Singapore Police Force and Singapore Civil Defence Force (SCDF), with an aim to improve training and inculcate values more effectively. Raising the proportion of officers and specialists from 30 to 40 per cent was also recommended to increase leadership opportunities for full-time National Servicemen (NSFs). Skills picked up by full-time National Servicemen (NSFs) could also be accredited to highlight their competencies and skills gained during NS, the CSNS said. VOLUNTEER CORPS The CSNS’ recommendations also revealed more details of the proposed SAF Volunteer Corps. In their proposal, women, new citizens and first-generation Permanent Residents (PRs) who volunteer in the Singapore Armed Forces (SAF) could be given a four-week training course, followed by one to two weeks of annual commitment for a minimum of three years. Said Minister for Social and Family Development Chan Chun Sing, who chaired the working group on support for NS: "They are doing it because they want to... It's an added statement on the commitment of our people beyond the NS pool we have." SHORTER GAP BETWEEN SCHOOL, NS The enlistment wait-time for pre-enlistees could also be shortened to four to six months after completion of post-secondary education, said the Committee, which suggests that 90 per cent of pre-enlistees should be enlisted within four months after post-secondary studies, up from 45 per cent now. The authorities are also looking to work with tertiary institutions to reduce transition time after NS. The Committee, comprising several ministers, top military brass, is chaired by Defence Minister Ng Eng Hen. The recommendations are meant at create more opportunities for NSmen to contribute to national defence, establish a Singapore Armed Forces (SAF) Volunteer Corps, and strengthen recognition and benefits for NSmen. It also strives to expand community support for servicemen, and create a positive NS experience through the easing of administrative restrictions, and strengthen the NS training system. more incentive for you guys to pass ippt. if pass, get more monetary rewards. if fail, longer RT.

Being a new driver and not familiar with the workshop costs of repairs, in events of accidents (those that need not be reported to police), are there be rough guidelines on the amount of monetary compensation that the guilty party would have to pay, without having to claim from insurance? Below are some scenarios I can think of, please kindly provide an estimation of the compensation costs: 1) front/rear bumper collapses/ damaged 2) mini dents on the vehicle body (be it front, rear, sides) 3) major dents on the vehicle body (be it front, rear, sides) 4) front/rear lights cover and lights damaged 5) sports rim damaged/dented 6) scratches on vehicle body (other vehicle body paint got stuck to own vehicle body) 7) scratches on vehicle body (own vehicle body paint got stuck to other vehicle body) During such incidents, other than taking pictures with the phone, taking down the vehicle number, and driver