DAWN TO DUSK NEWS: singapore

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<span style="color: #2558ad; font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">The
survey examines prices across 160 products and services in 140 cities.</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;"></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">SINGAPORE (AFP) - The soaring cost of cars and utilities as well as
a strong currency have made Singapore the world's most expensive city, toppling
Tokyo from the top spot, according to a survey Tuesday.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">Tokyo's weakening yen saw it slide to sixth place, the position
previously occupied by Singapore, in the 2014 Worldwide Cost of Living survey
by the Economist Intelligence Unit (EIU).</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">"Singapore's rising price prominence has been steady rather
than spectacular," said a report accompanying the survey by the research
firm.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">It said a 40 percent rise in the Singapore dollar along with
"solid price inflation" pushed the country to the top of the
twice-yearly survey from 18th a decade ago.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">The survey, which examines prices across 160 products and services
in 140 cities, is aimed at helping companies calculate allowances for
executives being sent overseas.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">The report said Singapore's curbs on car ownership, which include a
quota system and high taxes, made it "significantly more expensive than
any other location when it comes to running a car".</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">A new Toyota Corolla Altis costs $110,000 in Singapore compared to
around $35,000 in neighbouring Malaysia.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">Overall transport costs in Singapore are almost three times higher
than those in New York, it said.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">"In addition, as a city-state with very few natural resources
to speak of, Singapore is reliant on other countries for energy and water supplies,
making it the third most expensive destination for utility costs," the
report said.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">It also noted that Singapore is the priciest place in the world to
buy clothes, as malls and boutiques in its popular Orchard Road retail hub
import luxury European brands to "satisfy a wealthy and fashion-conscious
consumer base".</span></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">Singapore has one of the world's highest concentrations of
millionaires relative to its 5.4 million population. Its per capita income of
more than $51,000 in 2012 masks a widening income gap between the richest and
poorest.</span></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">In Europe, Paris rose six places to become the world's second most
expensive city, a trend the EIU said was indicative of recovering European
prices and currencies.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">"Improving sentiment in structurally expensive European cities
combined with the continued rise of Asian hubs means that these two regions
continue to supply most of the world's most expensive cities," Jon
Copestake, the editor of the report, said in a statement.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">The report said European cities were among the priciest in the
recreation and entertainment categories, reflecting "a greater premium on
discretionary income".</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">New York, which serves as the base city for the survey, was ranked
26th, while Sydney and Melbourne came in at fifth and sixth respectively owing
to a strong Australian dollar.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">Caracas was tied at sixth with Melbourne, Geneva and Tokyo, but the
EIU said the Venezuelan capital's position was largely due to the imposition of
an artificially high official exchange rate.</span></div>
<div class="MsoNormal" style="mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">"If alternative black market rates were applied Caracas would
comfortably become the world's cheapest city in which to live," it said.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">India's financial centre Mumbai was ranked the world's least
expensive city, joining other South Asian cities including Karachi, New Delhi
and Kathmandu in the bottom of the pile.</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-theme-font: minor-bidi; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-hansi-theme-font: minor-bidi;">The five most expensive cities were judged to be Singapore, Paris,
Oslo, Zurich and Sydney in descending order. Caracas, Geneva, Melbourne and
Tokyo were tied at sixth place while Copenhagen was tenth.</span></div>
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<b><span style="color: red; font-family: "Comic Sans MS"; font-size: 16.0pt; line-height: 115%;">Posted by:: Muhammad Usman</span></b></div>
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<b><span style="font-family: "Comic Sans MS"; font-size: 12.0pt; line-height: 115%;">Source: Dunya news</span></b></div>
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Singapore world's costliest city: survey

The survey examines prices across 160 products and services in 140 cities. SINGAPORE (AFP) - The soaring cost of cars and utilitie...