News Highlights Wednesday 13 February 2008

The Straits Times, PH5

Not enough numbers to fill new openings
The tourism industry as a whole is expected to create some 60,000 jobs over the next few years, with 1/3 directly created by the IRs. There are only 9,000 graduates in tourism every year. There are currently 150,000 people working in the tourism industry. 45% of the new numbers required could end up going to foreigners. Resorts World at Sentosa said it would need about 11,000 workers to staff the Sentosa.


The Straits Times, PH12

Price is fair for a ‘historic experience’
The sale of three-day public tickets for September’s inaugural SingTel Singapore GrandPrix begins tomorrow. Prices range from $168 at the General Walkabout to $7,500 at the exclusive Paddock Club. Other seating includes Stamford Grandstand, Raffles Grandstand, Corporate Hospitality, Marina Grandstand, Esplanade Waterfront Grandstand, Bay Grandstand (Marina Bay floating platform), Pit Grandstand and Grandstands at Turns 1, 2, 3.


The Straits Times, P3

70,000 F1 tickets go on sale from tomorrow
A total of 70,000 F1 tickets will be on sale tomorrow from 9am, which only three-day passes will be sold. 15,000 tickets are for the walkabout passes and other 55,000 will be grandstand tickets. The ticket prices are comparable to that of other F1 races around the world. Tickets for the Monaco street race cost between $506 and $1,694, while the Sepang Malaysian Grand Prix tickets cost between $66 and $897. Together with 15,000 corporate hospitality tickets, a total of 85,000 spectators will be part of the historic-making event.


The Business Times, P9

Construction on MRT Downtown Line starts, ready by 2013
The 40-kilometre Downtown MRT (DTL) line started yesterday with a groundbreaking ceremony at Chinatown yesterday. Chinatown is one of six stations on the 4.3km fully underground line, which is scheduled to be completed by 2013. The other stations are Cross Street, Landmark, Bayfront, Promenade and Bugis. The completed DTL1 will link commuters to Marina Bay as well as CBD. Five contracts, worth a total of $1.18 billion, have been awarded to DTL1. The DTL will be built in three stages, with Stage 2 to be completed in 2015 and Stage 3 in 2016. The DTL is expected to cater over 500,000 passengers each day when fully operational. The government has committed $20 million for the DTL and other extensions. By 2020, Singapore’s rail line will have doubled in length to 278km.


The Business Times, P23

Rise of a global middle class
While the world’s total population will increase by about a billion people in the next 12 years, the ranks of the middle class will increase by 1.8 billion, with 600 million just in China. World’s middle class will grow to include 52% of the total population, up from 30%. The rising of the middle class has resulted in price increase in food and other resources such as oil. The global consumption boom as a result has led to consequences for the environment, economic and political effects. Changes in migration, urbanization and income distribution will be widespread. Greater demand is expected for better housing, healthcare, education, and political participation.