Singapore
- Business News
Temasek cuts staff pay after failed FTX crypto investment
Singapore-based investment company Temasek has announced that its investment team and senior management experienced a reduction in compensation following the firm’s failed investment in cryptocurrency company FTX. Temasek Chairman Lim Boon Heng stated that despite no misconduct by the investment team, they took collective accountability for the outcome. In November, Temasek Holdings revealed that it would write down its US$275…
- World News
Singapore at high risk of technical recession amid external challenges
Singapore is facing a heightened risk of entering a technical recession in the second quarter as external challenges continue to impact the economy. The city-state saw a 0.4% decline in the economy during the first quarter compared to the previous three months, marking a reversal from the 0.1% growth in the fourth quarter of 2022. Singapore last experienced a technical…
- Business News
Singapore maintains 2023 growth forecast amid global economic risks
Singapore‘s Ministry of Trade and Industry (MTI) has announced that it is maintaining its growth forecast for 2023 at 0.5% to 2.5%, with growth expected to be around the mid-point of this range. This comes as the economy experienced a 0.4% year-on-year growth between January and March, primarily due to the manufacturing, wholesale trade, and finance and insurance sectors. The…
- Business News
Dyson aims to double product range, expand beyond home innovations by 2025
Dyson, renowned for its innovative household appliances, has been focusing on making everyday tasks more efficient and convenient for users. The development of such cutting-edge products often takes years and numerous prototypes, with Dyson’s bagless vacuum cleaner taking over five years and 5,127 prototypes to perfect. The company’s entrance into the beauty market with its hair dryer involved four years…
- Business News
Singapore leads Southeast Asia with 97% cashless payment adoption rate
In Singapore, a growing majority of people are opting for cashless payment methods, with the country’s adoption rate of such payments being the highest in Southeast Asia at 97%. This trend has been accelerated by the Covid-19 pandemic and an ongoing national drive for a less-cash society. Digital wallets are expected to overtake credit cards as the most popular online…
- Cannabis News
Singapore hangs 2 cannabis traffickers in 3 weeks
A man was hanged at Changi Prison in eastern Singapore at dawn today for trafficking 1.5 kilogrammes of cannabis. He is the second cannabis trafficker to be executed at the prison in just three weeks. The 37 year old ethnic Malay Singaporean was hanged today after a last-minute plea to stop the execution was rejected by the appeal court without…
- World News
Singapore, China reaffirm partnership, explore digitalisation and sustainability cooperation
Singapore Deputy Prime Minister Lawrence Wong recently met with China’s Premier Li Qiang in Beijing, further strengthening the long-standing relationship between the two nations. The Prime Minister’s Office (PMO) noted that their partnership has been upgraded to an “All-Round High-Quality Future-Oriented Partnership.” The leaders discussed the growth of bilateral cooperation, including the three government-to-government projects in Suzhou, Tianjin, and Chongqing,…
- Business News
Singapore’s key exports drop for seventh month amid electronics slump
Singapore‘s non-oil domestic exports (NODX) suffered a decline for the seventh consecutive month, with a 9.8% drop in April compared to the same month last year. This is according to data from Enterprise Singapore, which also revealed an 8.3% contraction in March. The decline in April was worse than the 9.4% drop predicted by a Reuters poll. The slump in…
- Business News
WhatsApp in-chat payments roll out in Singapore: A new chapter for SMEs or a security risk?
Digital payments are transforming rapidly, and WhatsApp’s recent decision to launch in-chat payments in Singapore highlights this change. The move by Meta, WhatsApp’s parent company, is expected to have a significant impact on local businesses and increase competition among the region’s e-payment providers. However, concerns also arise around security, privacy, and the potential for scams and fraud. With a user…
- World News
Illegal brothel discovered in Singapore after Thai woman climbs out window
Police uncovered an illegal brothel in Singapore after someone reported seeing a Thai woman standing on a third-floor ledge of a residential building in Jalan Besar on April 8. On Monday, the woman on the ledge was sentenced to prison after pleading guilty to living off the earnings of the prostitution of another person. A passerby saw the woman standing…
- Business News
OCBC reports record net profit in Q1 as strong net interest income growth boosts earnings
Singapore‘s second-largest lender, Oversea-Chinese Banking Corp (OCBC), has reported a 39% increase in first-quarter profit compared to a year ago, driven by robust net interest income expansion. OCBC, also the second-largest bank in Southeast Asia by assets, revealed a net profit of US$1.42 billion between January and March, up from US$1.02 billion during the same period last year, significantly surpassing…
- World News
Resumption of live pig exports from Indonesia’s Pulau Bulan to Singapore could take a year
The Singapore Food Agency (SFA) has indicated that it could take up to a year for Indonesia’s Pulau Bulan to resume live pig production and exports. Singapore halted imports of live pigs from the island after African swine fever (ASF) was detected in some pig carcasses last month. The affected carcasses, part of a consignment of live pigs from Pulau…
- World News
Scoot flight horror: Technical fault sparks panic among passengers on Singapore to Bangkok route
Passengers on a Scoot flight from Singapore to Bangkok feared for their lives when a technical fault caused the aircraft to catch fire yesterday afternoon. Pictures taken by a passenger on the TR605 flight showed a plume-filled cabin. The Airbus A321 departed Bangkok at 3.56pm and was due to arrive in Singapore at 7.15pm. As a result of the technical…
- Business News
Singapore increases COE quota for categories A and B cars to reduce supply volatility
Singapore’s Land Transport Authority (LTA) has announced that it will increase the Certificates of Entitlement (COE) quota for cars in categories A and B as a one-time adjustment to reduce supply volatility. The quota will rise from 9,575 to 10,431 for the current quarter, with Category A increasing by 24% and Category B increasing by 15%. The LTA will redistribute…
- Business News
Singapore aims to shed stopover status and hit pre-pandemic tourist numbers by 2024
Australians, Bryan and Christine Mansfield were delighted to start their three-day holiday in Singapore, marking the beginning of their golden jubilee celebrations delayed due to the COVID-19 pandemic. Like other tourists, Singapore was their first foreign destination since 2020 when the pandemic halted international travel. Although Singapore served as a layover before proceeding to their main destinations within the Southeast…
- Business News
Singaporean youth moving back with parents due to skyrocketing rents
Singapore sees rising rents amidst the COVID-19 pandemic, forcing some young tenants to return to their parent’s homes or face soaring rental fees. Since the onset of the pandemic, the number of Singaporeans and permanent citizens under 35 years old living alone increased from 15,900 in 2019 to 25,000 in 2020. However, data from the Urban Redevelopment Authority and 99.…
- Business News
Keppel Corp announces major restructuring and growth plans
Singapore‘s Keppel Corp, a former conglomerate with operations in a variety of sectors including data centres and renewable energy assets, unveiled a significant corporate restructuring plan today. The reorganisation will see the company divided into three distinct units – fund management, investment, and operating platforms, aiming to simplify and foster growth. The fund management arm will concentrate on raising funds,…
- World News
Divine match: Thai woman’s prayer to Chinese God of Love leads to Singaporean soulmate
The notions of love at first sight and turning to a higher power for love may seem far-fetched but for one young smitten couple, Cupid’s Arrow struck true. A young Thai woman believes her prayer to the Chinese god of love at the Yueh Hai Ching Temple in Singapore led her to meet her Singaporean partner just two months later.…
- World News
Singapore woman caught fleeing after scalding water attack
A woman in Singapore was arrested after an allegedly planned attack where she poured scalding hot water on a man and then tried to flee the country by ferry. The 28 year old woman was picked up by authorities on Thursday on a ferry bound for Indonesia, just before it hit international waters. The incident occurred near Balam Road in…
- Environment News
Japan voted top sustainable country, Thailand ranked fifth
Japan has been praised by fellow Asian countries for its sustainability and conservation efforts in a new poll with Thailand claiming fifth place, would you believe? Over 13,000 respondents from more than ten countries participated in the Sustainable Impact Survey 2023 conducted by the online travel agency Agoda. The respondents were asked to rank countries based on their sustainability efforts, and…
- World News
Singapore 2 year old girl run over, possibly by her father
Tragedy struck a family in Singapore on Monday when a two year old girl died in a freak accident. The young girl was run over by a van in a car park in the Woodlands area of the city-state, possibly by her father. Emergency services raced to the scene after the incident was reported on Woodlands Street at 2.40pm. The…
- Entertainment
Arctic Monkeys’ Bangkok gig sure to ‘look good on the dancefloor’
British Indie rock stars Arctic Monkeys promise to “look good on the dancefloor” in Bangkok this week as part of their Asia 2023 tour. And the Sheffield indie rockers plan to shake the foundations of Bitec Hall, Bang Na-Trat Road, on Thursday at 6pm on the fourth leg of their Asia tour. The four-piece kicked off in Singapore before heading…
- Visa Information
Thailand still pushing its unattractive LTR 10-year visa
The Government of Thailand is once again, making unsubstantiated claims regarding its 10-year, multiple entry Long Term Residence (LTR) visa programme. The government still reckons the LTR programme will attract one million foreigners over five years and act as a catalyst to boost the nation’s tourism and promote economic growth in Thailand. According to the VN Express yesterday, the secretary…
- Thailand News
Thai Airways cabin crew forgets to collect meal trays before landing on Singapore-Bangkok flight
Thai Airways is ‘”urgently investigating” why cabin crew failed to collect meal trays on a Singapore – Bangkok flight before landing on the runway at Suvarnabhumi Airport after an irked passenger recorded the incident on TikTok. TikTok user Praewa Nang Mana (@Praewa_panicha) posted a clip of food trays sitting on the foldable tables of three seats. As the plane lands,…
- World News
Singapore sees first Covid vaccine death
The Ministry of Health (MOH) in Singapore announced the death of a 28-year-old Bangladeshi man, likely related to a Covid-19 vaccine. He died away 21 days after receiving the Moderna/Spikevax vaccine. The State Coroner has confirmed that the cause of death was myocarditis, an inflammation of the heart muscle. The MOH has also stated that the man’s death was a “medical…
- World News
Singapore couple grossed out after finding worm on sashimi at Japanese chain restaurant
A Singapore couple says they are grossed out after finding a live worm wriggling around on their sashimi at a popular Japanese restaurant chain. The woman, Jayice Tan, says they were happily seated and had received their sashimi when they realised something wasn’t right. Horrified, she posted the video of the wriggling worm on Facebook last Wednesday to advise others…
- World News
Singaporean salon Strip in trouble over orangutan ad
Singaporean hair removal salon chain Strip has been the centre of a social media storm in China due to their use of an orangutan in an advertisement in the country. The ad for Strip’s salons in Shanghai caused anger among social media users who accused the company of shaming women who do not remove their body hair. In response to…
- World News
PIL launches weekly service to link key ports in Thailand, Philippines, Singapore
Pacific International Lines (PIL) is set to revolutionize Southeast Asian shipping with its new weekly direct service, the Thailand Philippines Straits Service (TPS), launching on February 15, from Manila, Philippines. This service will bring the key ports of Thailand, the Philippines, and Singapore closer together and enhance PIL’s connections in the region. A consortium of vessels with an average capacity…
- World News
Vinyl records sales boom in Singapore, worldwide
People in Singapore may be eyeing a new record. No, like, actually looking at an actual record. According to a report by Luminate Data, a provider of data for the music industry, vinyl record sales have steadily grown for over a decade. This growth can be seen in the increasing number of record shops popping up in areas such as Kampung…
- World News
Alone for Chinese New Year? Consider a fake girlfriend
Pattaya bar enthusiasts might regularly hire a “fake girlfriend” for the night but, in Singapore, the concept has a more wholesome goal. As Chinese New Year approaches, singles in Singapore are opting for an unusual solution to avoid uncomfortable questions from relatives about their love lives: hiring fake girlfriends or boyfriends to accompany them to family gatherings. Rent-a-date platforms are…
