The United States will begin trading the futures contracts for the Union Market on Monday, the second major milestone in the push to open the market.Union Market CEO John Hockett confirmed to CNBC the move Monday morning.The first Union Market contract was put into circulation on Feb. 13 and is valued at about $9 billion, according to Bloomberg.Hocktt said the contract will begin trades in about a...
In a rare public appearance, the country’s biggest online market mopper, Amazon.com, has confirmed that it is moving its headquarters to Singapore, saying it wants to “continue to grow our operations in the Asia-Pacific region”.
Singaporean Prime Minister Lee Hsien Loong said in a statement on Thursday that he “understood and supported” Amazon’s decision to “move its headquarters from its home base in Seattle to Singapore”.
“I am proud that Amazon is investing billions of dollars in Singapore to support local businesses and to strengthen Singapore’s position as a global hub for commerce and innovation,” he said.
“As a global leader, Amazon will continue to focus on providing services that serve our customers, our communities and our planet.”
Amazon has said it will create at least 2,500 jobs in Singapore and will expand its workforce to 2,600 by 2021.
Singaporean Prime Ministers’ Council (PGC) will oversee the relocation of Amazon’s headquarters, which will take place over the next two years.
Amazon is also looking to set up an e-commerce business in Singapore, with the company reportedly planning to set-up a hub in Singapore that will allow its employees to take part in the local e-retail business.
However, Amazon is not the only online retailer to be eyeing Singapore.
Amazon is reportedly considering moving its HQ to Singapore and is also eyeing the future of its Chinese headquarters.
The move comes after the launch of Amazon Prime, which allows members to pay $99 a year and take part at a range of services.
The Prime deal was originally announced in July last year, but the move to Singapore is now expected to be complete in the next few months.
According to the Singaporean market mover, Amazon’s move to set itself up in Singapore “has been a long time coming”.
“We are happy to be here and look forward to growing our operations,” Amazon said in its statement.
“We have been working with the SGPC since the early years of the e-Commerce platform and now look forward and believe that the SGP is the right place for us to grow.”
Singapore has been one of the fastest growing economies in the world in the last three years.
According, the Singapore economy grew at 7.6% in 2016-17, up from 5.8% the previous year.