For years, Indian asset managers chased higher returns in offshore havens like Dubai and Singapore. But the tide is turning. Driven by tax breaks and proximity to the booming indian market, global funds are flocking to gift city, India's new financial hub.

Indian asset managers flock to Gift City

<o:p></o:p>Singapore's leading lender, DBS Group, reported record-breaking full-year results, yet Chief Executive Officer Piyush Gupta faced a significant reduction in compensation due to digital banking disruptions witnessed last year.<o:p></o:p>

This is based on a report published by Bloomberg.<o:p></o:p>

The bank announced a net profit of S$2.39 billion ($1.78 billion) in the quarter ending December 31, marking a modest 2 per cent increase, amidst margin pressure. <o:p></o:p>

While slightly below analyst estimates, DBS proposed a bonus share issue and increased its final dividend. <o:p></o:p>

For the entirety of 2023, the bank surpassed its medium-term net profit target of S$10 billion, achieving a return on equity of 18 per cent, leading to a surge in DBS shares.<o:p></o:p>

However, last year's digital banking outages prompted a collective 21 per cent cut in variable pay for DBS' group management committee, with CEO Gupta experiencing a deeper 30 per cent reduction amounting to S$4.1 million.<o:p></o:p>

DBS's stellar performance comes amid a challenging backdrop as it grapples with the aftermath of digital banking disruptions that paralysed payment and ATM transactions across Singapore last year. <o:p></o:p>

The repercussions of these outages have led to regulatory actions, with the Monetary Authority of Singapore imposing a six-month ban on DBS from acquiring new business ventures and reducing its local branch and ATM networks. <o:p></o:p>

Despite Gupta's public apologies and assurances of prioritising the resolution of digital banking issues, the bank faced scrutiny over service reliability. <o:p></o:p>

However, DBS reiterated its commitment to enhancing customer experience, promising greater reliability and alternative channels for payments and inquiries in case of future issues.<o:p></o:p>

Gupta, at the helm of DBS since November 2009, has overseen the bank's expansion into key markets such as India, Taiwan, and mainland China, both through acquisitions and organic growth. <o:p></o:p>

Under his leadership, DBS has strengthened its wealth management arm, becoming one of Asia's largest in terms of assets under management. <o:p></o:p>

Despite the anticipated softening of interest rates and geopolitical tensions, Gupta expressed confidence in sustaining the bank's performance in the upcoming year.<o:p></o:p>

DBS's results set the tone for major Singapore banks, with rivals United Overseas Bank Ltd. and Oversea-Chinese Banking Corp set to report their results later this month. <o:p></o:p>

While DBS's performance has been propelled by elevated interest rates, analysts speculate on the sustainability of this growth trajectory amidst expectations of declining rates in the coming year. <o:p></o:p>

The outcomes of DBS's strategic initiatives to address digital banking disruptions and maintain customer trust will likely influence market perceptions of the bank's long-term resilience and growth prospects.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

Singapore's leading lender, DBS Group, reported record-breaking full-year results, yet Chief Executive Officer Piyush Gupta faced a significant reduction in compensation due to digital banking disruptions witnessed last year.

Singapore's leading lender, DBS Group, reported record-breaking full-year results, yet Chief Executive Officer Piyush Gupta faced a significant reduction in compensation due to digital banking disruptions witnessed last year. This is based on a report published by Bloomberg. The bank announced a net profit of S$2.39 billion ($1.78 billion) in the quarter ending December 31, marking a modest 2 per cent increase, amidst margin pressure. While slightly below analyst estimates, DBS proposed a bonus share issue and increased its final dividend. For the entirety of 2023, the bank surpassed its medium-term net profit target of S$10 billion, achieving a return on equity of 18 per cent, leading to a surge in DBS shares. However, last year's digital banking outages prompted a collective 21 per cent cut in variable pay for DBS' group management committee, with CEO Gupta experiencing a deeper 30 per cent reduction amounting to S$4.1 million. DBS's stellar performance comes amid a challenging backdrop as it grapples with the aftermath of digital banking disruptions that paralysed payment and ATM transactions across Singapore last year. The repercussions of these outages have led to regulatory actions, with the Monetary Authority of Singapore imposing a six-month ban on DBS from acquiring new business ventures and reducing its local branch and ATM networks. Despite Gupta's public apologies and assurances of prioritising the resolution of digital banking issues, the bank faced scrutiny over service reliability. However, DBS reiterated its commitment to enhancing customer experience, promising greater reliability and alternative channels for payments and inquiries in case of future issues. Gupta, at the helm of DBS since November 2009, has overseen the bank's expansion into key markets such as India, Taiwan, and mainland China, both through acquisitions and organic growth. Under his leadership, DBS has strengthened its wealth management arm, becoming one of Asia's largest in terms of assets under management. Despite the anticipated softening of interest rates and geopolitical tensions, Gupta expressed confidence in sustaining the bank's performance in the upcoming year. DBS's results set the tone for major Singapore banks, with rivals United Overseas Bank Ltd. and Oversea-Chinese Banking Corp set to report their results later this month. While DBS's performance has been propelled by elevated interest rates, analysts speculate on the sustainability of this growth trajectory amidst expectations of declining rates in the coming year. The outcomes of DBS's strategic initiatives to address digital banking disruptions and maintain customer trust will likely influence market perceptions of the bank's long-term resilience and growth prospects. (With inputs from Bloomberg)

DBS CEO's pay slashed following digital banking disruptions amid record profits

A 59-year-old naturalised Singaporean citizen&nbsp;Philip Chan Man Ping&nbsp;has been served notice by the city-state's authorities that he will be designated as a 'politically significant person' under Singapore's foreign interference law.

Singapore's Ministry of Home Affairs (MHA)&nbsp;claims Chan shows susceptibility to foreign influence and a willingness to advance the foreign interests.

<h2>Who is&nbsp;Philip Chan Man Ping?</h2>

Chan, with over 30 years in Singapore, boasts nearly two decades of experience in the property sector and holds key positions in Wen Way Investments, Mutual Benefits Realty, and C&amp;H Properties.

He is also the founder of China Link Education Consultancy, which organises courses on Chinese politics, economics, and customs.

Also read | <a href="https://www.wionews.com/world/white-house-warns-someone-may-get-hurt-by-chinese-militarys-aggressiveness-601039">White House warns someone may get 'hurt' by Chinese military's 'aggressiveness'</a>

As an "overseas Chinese representative," Chan also attended China's Two Sessions parliamentary meetings in March 2023, an event of great political importance.

He also serves as president of the Hong Kong Singapore Business Association that&nbsp;links business communities, and is also involved in community integration as president of the Kowloon Club.

While once contributing articles to Lianhe Zaobao, a Chinese-language news outlet, Chan stepped down from grassroots appointments on Feb 2. His writings focused on new immigrant integration and real estate insights.&nbsp;Between April 2011 and May 2019, Chan wrote around 30 articles for Singapore Chinese-language news outlet,&nbsp;The Straits Times&nbsp;reported.

Also watch |&nbsp;China's national security law for Hong Kong: Explained

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In 2019, he facilitated a public assembly discussing Hong Kong's extradition Bill, and consequently received a police warning.

In an interview, Chan expressed concerns about distorted Western narratives on China, urging overseas Chinese to counter fake news.

He stressed the responsibility to tell positive stories about China and promote its culture abroad.

<h2>What next?</h2>

Chan now faces a 14-day period to submit representations against the designation. If designated, he can appeal to Minister for Home Affairs K. Shanmugam.

(With inputs from agencies)

A 59-year-old naturalised Singaporean citizen Philip Chan Man Ping has been served notice by the city-state's authorities that he will be designated as a 'politically significant person' under Singapore's foreign interference law.

A 59-year-old naturalised Singaporean citizen Philip Chan Man Ping has been served notice by the city-state's authorities that he will be designated as a 'politically significant person' under Singapore's foreign interference law. Singapore's Ministry of Home Affairs (MHA) claims Chan shows susceptibility to foreign influence and a willingness to advance the foreign interests. Who is Philip Chan Man Ping? Chan, with over 30 years in Singapore, boasts nearly two decades of experience in the property sector and holds key positions in Wen Way Investments, Mutual Benefits Realty, and C&H Properties. He is also the founder of China Link Education Consultancy, which organises courses on Chinese politics, economics, and customs. Also read | White House warns someone may get 'hurt' by Chinese military's 'aggressiveness' As an "overseas Chinese representative," Chan also attended China's Two Sessions parliamentary meetings in March 2023, an event of great political importance. He also serves as president of the Hong Kong Singapore Business Association that links business communities, and is also involved in community integration as president of the Kowloon Club. While once contributing articles to Lianhe Zaobao, a Chinese-language news outlet, Chan stepped down from grassroots appointments on Feb 2. His writings focused on new immigrant integration and real estate insights. Between April 2011 and May 2019, Chan wrote around 30 articles for Singapore Chinese-language news outlet, The Straits Times reported. Also watch | China's national security law for Hong Kong: Explained × In 2019, he facilitated a public assembly discussing Hong Kong's extradition Bill, and consequently received a police warning. In an interview, Chan expressed concerns about distorted Western narratives on China, urging overseas Chinese to counter fake news. He stressed the responsibility to tell positive stories about China and promote its culture abroad. What next? Chan now faces a 14-day period to submit representations against the designation. If designated, he can appeal to Minister for Home Affairs K. Shanmugam. (With inputs from agencies)

Who is Philip Chan, Singaporean businessman who wanted to tell 'China's story'

Singaporeans have expressed outrage after a U.S. senator grilled the Singaporean CEO of TikTok, Shou Chew, about his nationality and suggested he was affiliated with the Chinese Communist Party. Singaporeans have called the U.S. senator ignorant and racist.

Gravitas | TikTok CEO faces senate grilling on nationality, China ties | Outrage in Singapore

An Indian-origin man in Singapore was jailed for molesting a domestic helper in a lift of a housing block and punching a man. According to a report by the news agency PTI on Saturday (Jan 27), 61-year-old Singaram Palianeapan followed the domestic help (a woman) into a lift where he molested her, keeping her trapped for nearly 90 seconds.

An Indian-origin man in Singapore was jailed for molesting a domestic helper in a lift of a housing block and punching a man. According to a report by the news agency PTI on Saturday (Jan 27), 61-year-old Singaram Palianeapan followed the domestic help (a woman) into a lift where he molested her, keeping her trapped for nearly 90 seconds. This incident occurred in Sept 2022. A month later, while he was out on bail, Singaram punched a man at a bicycle shop three times with a metal chain wrapped around his fist. He was sentenced to a total of 10 months in jail after pleading guilty to both crimes, PTI reported. The first crime Citing court documents, PTI reported that on Sept 28, 2022, the domestic help was buying food when Singaram offered her money to buy herself a drink. The woman initially refused the offer but later accepted the money when he insisted. The documents said that after getting food, the woman proceeded to head back to her employer's residence as Singaram followed her. The two reached the lift of the housing block and Singaram pressed the button for level 17 but when the woman tried to press the button for level five, he stopped her. According to Deputy Public Prosecutor Jordy Kay, once the lift started to move, the 61-year-old molested the helper. The lift arrived at level 17 upon which the man stood by the lift doors asking the victim to follow him. When the woman refused, Singaram went back into the lift and selected level 7, and as the lift moved, he continued to molest her. Singaram was in the lift with the victim for about a minute and 28 seconds, and all of his actions were captured on the lift's CCTV camera, Kay added. Singaram was arrested on Sept 28 and released on bail the next day. The second crime A month later, Singaram was at a bicycle shop where he confronted the shop owner about the problems he was facing with the personal mobility device that he bought. A dispute broke out between the two men and Singaram took out a metal chain from his personal mobility device, wrapped it around his right fist and punched the shop owner thrice, PTI reported. Kay sought a jail term of between nine and 11 months for the 61-year-old. (With inputs from agencies)

Singapore: Indian-origin man jailed for molesting domestic help, punching a man

An Indian-origin former lawyer in Singapore has been given 3 years and 11 months in jail after he was found guilty of misappropriating funds worth SGD 480,000 entrusted to him by three clients. The ex-lawyer, Gurdaib Singh Pala Singh, reportedly committed the offences between 2011 and 2016. As per one allegation, the 70-year-old ex-lawyer also continued to act as an advocate and charge fees from clients even after he was expelled from the law firm.

Singh used to work with Gurdaib Cheong &amp; Partners (GCP) law firm. Last July, Singh pleaded guilty to two counts of criminal breach of trust involving nearly SGD 459,000 and an offence under the Legal Profession Act. A third breach of trust charge was also considered during the sentencing.

<h2>Charges against the ex-lawyer</h2>

In December 2010, Zulkifli Osman hired GCP to help sell his late father's flat. The flat was sold in July 2011, and GCP got over SGD 356,000 from the sale for Zulkifli. Zulkifli and Singh agreed that Zulkifli's brother would get SG$ 138,876.50 from the total sum.

Zulkifli put SG$ 138,876 into GCP's account for his brother on December 15, 2011. But between December 2011 and May 2012, Singh used Zulkifli's money for other things without permission, for instance, office expenses.

Deputy Public Prosecutor Norman Yew said, “Between November 18 and December 23, 2014, Singh misappropriated the money and used it to pay for items such as GCP's office expenses.”

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Zulkifli asked Singh three times between August 2012 and July 2014 to give him some of the money back, but Singh had already spent it. Singh then gave Zulkifli SG$10,156 from other clients' money.

Watch:&nbsp;Singapore's Transport Minister resigns over alleged corruption

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In June 2015, Zulkifli asked for the rest of his money, but Singh didn't give him anything. Singh got removed from the company in 2018 but still took money from a man for divorce help in 2019. When the man asked for a refund in 2020, Singh only gave back S$1,000 out of S$1,750.

(With inputs from agencies)

An Indian-origin former lawyer in Singapore has been given 3 years and 11 months in jail after he was found guilty of misappropriating funds worth SGD 480,000 entrusted to him by three clients.

An Indian-origin former lawyer in Singapore has been given 3 years and 11 months in jail after he was found guilty of misappropriating funds worth SGD 480,000 entrusted to him by three clients. The ex-lawyer, Gurdaib Singh Pala Singh, reportedly committed the offences between 2011 and 2016. As per one allegation, the 70-year-old ex-lawyer also continued to act as an advocate and charge fees from clients even after he was expelled from the law firm. Singh used to work with Gurdaib Cheong & Partners (GCP) law firm. Last July, Singh pleaded guilty to two counts of criminal breach of trust involving nearly SGD 459,000 and an offence under the Legal Profession Act. A third breach of trust charge was also considered during the sentencing. Charges against the ex-lawyer In December 2010, Zulkifli Osman hired GCP to help sell his late father's flat. The flat was sold in July 2011, and GCP got over SGD 356,000 from the sale for Zulkifli. Zulkifli and Singh agreed that Zulkifli's brother would get SG$ 138,876.50 from the total sum. Zulkifli put SG$ 138,876 into GCP's account for his brother on December 15, 2011. But between December 2011 and May 2012, Singh used Zulkifli's money for other things without permission, for instance, office expenses. Deputy Public Prosecutor Norman Yew said, “Between November 18 and December 23, 2014, Singh misappropriated the money and used it to pay for items such as GCP's office expenses.” Also read: Singapore and Zurich are world`s most expensive cities in 2023; Israel`s Tel Aviv in top 10 Zulkifli asked Singh three times between August 2012 and July 2014 to give him some of the money back, but Singh had already spent it. Singh then gave Zulkifli SG$10,156 from other clients' money. Watch: Singapore's Transport Minister resigns over alleged corruption × In June 2015, Zulkifli asked for the rest of his money, but Singh didn't give him anything. Singh got removed from the company in 2018 but still took money from a man for divorce help in 2019. When the man asked for a refund in 2020, Singh only gave back S$1,000 out of S$1,750. (With inputs from agencies)

Singapore: Indian-origin ex-lawyer sentenced to jail for misappropriating S$480,000

Terraform labs, the company behind the once-stable terra usd, has filed for chapter 11 bankruptcy. The collapse of terra usd in 2022 sent ripples through the crypto markets, causing a $40 billion fallout.

Singapore-based terraform labs faces bankruptcy

Singapore's Transport Minister has resigned from his post after being charged with 27 offences in a corruption probe that has also ensnared a billionaire hotel tycoon. S. Iswaran was arrested in July of 2023 and released on bail in connection with a rare top-level graft investigation in the city-state.

Singapore's Transport Minister resigns over alleged corruption | Race To Power

Singapore’s Transport Minister S. Iswaran&nbsp;resigned after being charged in court for graft, on Thursday (Jan 18), amid a corruption probe that also involves a billionaire hotel tycoon. The city-state has long prided itself on its squeaky-clean governance and the case has since shocked the nation as it witnesses one of the most high-profile graft cases involving a minister after nearly four decades.&nbsp;

<h2>About the case</h2>

The Corrupt Practices Investigation Bureau (CPIB)&nbsp;said Iswaran, who was arrested in July last year, faces a total of 27 charges, including corruption, “obtaining gratification as a public servant,” and obstructing the course of justice.&nbsp;

WATCH |&nbsp;Row over South Africa's Deputy President's lifestyle, Singapore Transport Minister under probe&nbsp;

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&nbsp;

The city-state’s anti-graft agency has alleged that the minister obtained kickbacks valued at $286,181 (S$384,340.98) from property tycoon Ong Beng Seng, partly to advance the billionaire’s business interests.&nbsp;

Iswaran, 61, allegedly received gifts worth more than $119,136 in the form of flights, hotel stays and tickets to the Singapore Formula 1 Grand Prix.&nbsp;

The charge sheet against the now-former minister also purportedly shows favours like tickets to football matches, West End musicals, and flights on Ong’s private plane. Both Iswaran and Ong were arrested last year.&nbsp;

Notably, Iswaran was an advisor to the Grand Prix’s steering committee, while Ong owns the rights to the race. It is also said that the property tycoon played a significant role in bringing the F1 race to Singapore in 2008.

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The case has shocked the city-state, whose government is rarely affected by graft and scandals. Government officials and civil servants are highly paid to discourage corruption, with many cabinet ministers’ annual salaries being more than $744,602 (S$1 million).

Notably, the last corruption case that Singapore witnessed involving a minister was nearly four decades ago. In 1986, the national development minister was probed for allegedly accepting bribes but died before he could be charged.&nbsp;

<h2>Iswaran resigns</h2>

Iswaran, a veteran of the ruling People’s Action Party (PAP), who has held multiple portfolios over the years, submitted his resignation from the government, parliament and ruling party, Prime Minister Lee Hsien Loong revealed shortly after Thursday’s hearing&nbsp;

Iswaran quit on January 16 after being given formal notice of the charges against him.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/singapore-deputy-pm-wong-to-lead-ruling-party-before-general-election-pm-655723">Singapore Deputy PM Wong to lead ruling party before general election - PM</a>

The 61-year-old joined Loong’s cabinet as a junior minister in 2006 and became transport minister in May 2021.&nbsp;

In his resignation letter, Iswaran has pledged to return the money received as part of his salary and allowances since his arrest and rejected the allegations against him.&nbsp;

“I reject the allegations in the charges and will now focus on clearing my name,” Iswaran wrote in his resignation letter&nbsp;published on the website of the PM’s office.&nbsp;

(With inputs from agencies) 
&nbsp;

Singapore’s Transport Minister S. Iswaran resigned after being charged in court for graft, on Thursday (Jan 18), amid a corruption probe that also involves a billionaire hotel tycoon.

Singapore’s Transport Minister S. Iswaran resigned after being charged in court for graft, on Thursday (Jan 18), amid a corruption probe that also involves a billionaire hotel tycoon. The city-state has long prided itself on its squeaky-clean governance and the case has since shocked the nation as it witnesses one of the most high-profile graft cases involving a minister after nearly four decades. About the case The Corrupt Practices Investigation Bureau (CPIB) said Iswaran, who was arrested in July last year, faces a total of 27 charges, including corruption, “obtaining gratification as a public servant,” and obstructing the course of justice. WATCH | Row over South Africa's Deputy President's lifestyle, Singapore Transport Minister under probe The city-state’s anti-graft agency has alleged that the minister obtained kickbacks valued at $286,181 (S$384,340.98) from property tycoon Ong Beng Seng, partly to advance the billionaire’s business interests. Iswaran, 61, allegedly received gifts worth more than $119,136 in the form of flights, hotel stays and tickets to the Singapore Formula 1 Grand Prix. The charge sheet against the now-former minister also purportedly shows favours like tickets to football matches, West End musicals, and flights on Ong’s private plane. Both Iswaran and Ong were arrested last year. Notably, Iswaran was an advisor to the Grand Prix’s steering committee, while Ong owns the rights to the race. It is also said that the property tycoon played a significant role in bringing the F1 race to Singapore in 2008. ALSO READ | Tharman Shanmugaratnam, Indian-origin economist, sworn in as Singapore president The case has shocked the city-state, whose government is rarely affected by graft and scandals. Government officials and civil servants are highly paid to discourage corruption, with many cabinet ministers’ annual salaries being more than $744,602 (S$1 million). Notably, the last corruption case that Singapore witnessed involving a minister was nearly four decades ago. In 1986, the national development minister was probed for allegedly accepting bribes but died before he could be charged. Iswaran resigns Iswaran, a veteran of the ruling People’s Action Party (PAP), who has held multiple portfolios over the years, submitted his resignation from the government, parliament and ruling party, Prime Minister Lee Hsien Loong revealed shortly after Thursday’s hearing Iswaran quit on January 16 after being given formal notice of the charges against him. ALSO READ | Singapore Deputy PM Wong to lead ruling party before general election - PM The 61-year-old joined Loong’s cabinet as a junior minister in 2006 and became transport minister in May 2021. In his resignation letter, Iswaran has pledged to return the money received as part of his salary and allowances since his arrest and rejected the allegations against him. “I reject the allegations in the charges and will now focus on clearing my name,” Iswaran wrote in his resignation letter published on the website of the PM’s office. (With inputs from agencies)

Singapore minister Subramaniam Iswaran resigns after being charged in rare corruption case

Singapore's Indian-origin Transport Minister S.Iswaran has stepped down from his post after facing 27 charges of offences in a corruption probe, which also included receiving tickets from a top property tycoon.

Singapore: S.Iswaran resigns over corruption charges

Singapore's Indian-origin Transport Minister S Iswaran has stepped down from his post after facing 27 charges of offences in a corruption probe, which also included receiving tickets from a top property tycoon.

Singapore sacks Transport Minister S. Iswaran over corruption charges

Households are preparing for the new year with increased financial strain due to the recently implemented sales tax hikes. The goods and services tax has risen from 7% to 9% in two phases, with the latest increment taking effect this year. This rise adds to the already escalating living costs, prompting some opposition lawmakers to advocate for a delay in the hike.

Tax burden on Singaporeans to rise

WION's&nbsp;Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;<o:p></o:p>

QatarEnergy forges strategic five-year crude oil pact with Shell<o:p></o:p>

In a recent development, QatarEnergy has inked a significant five-year crude oil supply deal with Shell International Eastern Trading Company, Singapore, a subsidiary of Shell.&nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/qatarenergy-forges-strategic-five-year-crude-oil-pact-with-shell-674571">Read more here</a><o:p></o:p>

Singapore implements sales tax hike amid concerns over rising living costs, demographic shift<o:p></o:p>

Singapore is gearing up for an increase in sales tax in 2024 as the government takes measures to strengthen its financial position in anticipation of heightened social spending, driven by the city-state's rapidly ageing population. &nbsp;<o:p></o:p>

<a href="https://wionews.com/business-economy/singapore-implements-sales-tax-hike-amid-concerns-over-rising-living-costs-demographic-shift-674612">Read more here</a><o:p></o:p>

Zomato share price dips after $4.8 bn tax show cause notice<o:p></o:p>

Zomato, the online food delivery platform, has been served with a show cause notice (SCN) by the Goods and Services Tax (GST) office, amounting to ₹401.7 crore ($4.8 billion).<o:p></o:p>

<a href="https://www.wionews.com/business-economy/zomato-share-prices-dip-with-a-48-bn-tax-show-cause-notice-674616">Read more here</a> <o:p></o:p>

China's manufacturing faces third consecutive contraction in Dec, calls for policy support intensify<o:p></o:p>

China's manufacturing sector is anticipated to contract for the third straight month, as per a Reuters poll, reflecting subdued demand for manufactured goods and heightening the clamour for additional policy support. &nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/chinas-manufacturing-faces-third-consecutive-contraction-in-dec-calls-for-policy-support-intensify-674620">Read more here</a><o:p></o:p>

Francoise Bettencourt Meyers: First woman to break $100 billion net worth barrier<o:p></o:p>

In a historic milestone, Francoise Bettencourt Meyers has become the first woman to amass a staggering $100 billion fortune, securing her position as the world's 12th-richest individual<o:p></o:p>

<a href="https://www.wionews.com/business-economy/francoise-bettencourt-meyers-first-woman-to-break-100-billion-net-worth-barrier-674629">Read more here</a><o:p></o:p>

Huawei projects 9pc revenue surge in 2023, marking a resilient comeback<o:p></o:p>

Huawei Technologies, the Chinese tech giant, is optimistic about its financial prospects in 2023, forecasting a revenue exceeding 700 billion yuan ($98.5 billion), representing a substantial 9 per cent year-over-year growth from the 642.3 billion yuan reported in 2022.&nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/huawei-projects-9pc-revenue-surge-in-2023-marking-a-resilient-comeback-674635">Read more here</a><o:p></o:p>

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WION's Business Desk brings you this daily round up of global stories from the world of business and economy. QatarEnergy forges strategic five-year crude oil pact with Shell In a recent development, QatarEnergy has inked a significant five-year crude oil supply deal with Shell International Eastern Trading Company, Singapore, a subsidiary of Shell.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. QatarEnergy forges strategic five-year crude oil pact with Shell In a recent development, QatarEnergy has inked a significant five-year crude oil supply deal with Shell International Eastern Trading Company, Singapore, a subsidiary of Shell. Read more here Singapore implements sales tax hike amid concerns over rising living costs, demographic shift Singapore is gearing up for an increase in sales tax in 2024 as the government takes measures to strengthen its financial position in anticipation of heightened social spending, driven by the city-state's rapidly ageing population. Read more here Zomato share price dips after $4.8 bn tax show cause notice Zomato, the online food delivery platform, has been served with a show cause notice (SCN) by the Goods and Services Tax (GST) office, amounting to ₹401.7 crore ($4.8 billion). Read more here China's manufacturing faces third consecutive contraction in Dec, calls for policy support intensify China's manufacturing sector is anticipated to contract for the third straight month, as per a Reuters poll, reflecting subdued demand for manufactured goods and heightening the clamour for additional policy support. Read more here Francoise Bettencourt Meyers: First woman to break $100 billion net worth barrier In a historic milestone, Francoise Bettencourt Meyers has become the first woman to amass a staggering $100 billion fortune, securing her position as the world's 12th-richest individual Read more here Huawei projects 9pc revenue surge in 2023, marking a resilient comeback Huawei Technologies, the Chinese tech giant, is optimistic about its financial prospects in 2023, forecasting a revenue exceeding 700 billion yuan ($98.5 billion), representing a substantial 9 per cent year-over-year growth from the 642.3 billion yuan reported in 2022. Read more here WATCH WION LIVE HERE

WION Business Wrap | QatarEnergy’s pact with Shell, Singapore’s sales tax, China’s manufacturing & more

Singapore is gearing up for an increase in sales tax in 2024 as the government takes measures to strengthen its financial position in anticipation of heightened social spending, driven by the city-state's rapidly ageing population. &nbsp;

The goods and services tax, affecting a range of items from groceries to luxury goods, will see a one-percentage-point hike to 9 per cent starting Monday, marking the second phase of a two-stage rate increase. This follows the increment earlier this year when the sales tax rose from 7 per cent to 8 per cent, after remaining unchanged for 15 years.

The upcoming tax hike is compounding concerns over the already escalating living costs, prompting opposition lawmakers to call for a delay in its implementation.

Core inflation in Singapore moderated to 3.2 per cent in November from its peak of 5.5 per cent in the early months of the year.

However, it remains stubborn, with the central bank projecting an average of 2.5–3.5 per cent in 2024.

With a quarter of the population predicted to be 65 or older by 2030, the government argues that the tax adjustment is essential to strengthen state finances in anticipation of the anticipated spike in healthcare expenses and population ageing.

Deputy Prime Minister Lawrence Wong has defended the decision, emphasising that deferring the GST increase would only lead to more significant challenges in the future, limiting resources to address growing fiscal needs. &nbsp;

In response to the potential burden on households, the government has rolled out an "assurance package" worth over S$10 billion ($7.55 billion). The package includes payouts ranging from S$200 to S$800 distributed to all adult Singaporeans this month. &nbsp;

While the tax hike raises concerns about its impact on citizens, the relief measures aim to alleviate the immediate financial strain. &nbsp;

Some retailers, like IKEA and FairPrice Group, have pledged to absorb the tax increases for the time being, with IKEA not specifying when it would conclude the initiative, and FairPrice Group committing to absorb the hike on essential items such as rice and vegetables.

(With inputs from Reuters)

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Singapore is gearing up for an increase in sales tax in 2024 as the government takes measures to strengthen its financial position in anticipation of heightened social spending, driven by the city-state's rapidly ageing population.

Singapore is gearing up for an increase in sales tax in 2024 as the government takes measures to strengthen its financial position in anticipation of heightened social spending, driven by the city-state's rapidly ageing population. The goods and services tax, affecting a range of items from groceries to luxury goods, will see a one-percentage-point hike to 9 per cent starting Monday, marking the second phase of a two-stage rate increase. This follows the increment earlier this year when the sales tax rose from 7 per cent to 8 per cent, after remaining unchanged for 15 years. The upcoming tax hike is compounding concerns over the already escalating living costs, prompting opposition lawmakers to call for a delay in its implementation. Core inflation in Singapore moderated to 3.2 per cent in November from its peak of 5.5 per cent in the early months of the year. However, it remains stubborn, with the central bank projecting an average of 2.5–3.5 per cent in 2024. With a quarter of the population predicted to be 65 or older by 2030, the government argues that the tax adjustment is essential to strengthen state finances in anticipation of the anticipated spike in healthcare expenses and population ageing. Deputy Prime Minister Lawrence Wong has defended the decision, emphasising that deferring the GST increase would only lead to more significant challenges in the future, limiting resources to address growing fiscal needs. In response to the potential burden on households, the government has rolled out an "assurance package" worth over S$10 billion ($7.55 billion). The package includes payouts ranging from S$200 to S$800 distributed to all adult Singaporeans this month. While the tax hike raises concerns about its impact on citizens, the relief measures aim to alleviate the immediate financial strain. Some retailers, like IKEA and FairPrice Group, have pledged to absorb the tax increases for the time being, with IKEA not specifying when it would conclude the initiative, and FairPrice Group committing to absorb the hike on essential items such as rice and vegetables. (With inputs from Reuters) WATCH WION LIVE HERE

Singapore implements sales tax hike amid concerns over rising living costs, demographic shift

A man has been charged with theft after allegedly stealing more than $23,000 in cash from three fellow passengers on a budget flight from Vietnam to Singapore.&nbsp;

The suspect, later identified as Zhang Xiuqiang, a 52-year-old Chinese national, was arrested at the city-state’s Changi Airport&nbsp;over the weekend.&nbsp;

<h2>What do we know about the incident?</h2>

The incident took place on a two-hour Scoot Airline flight – the low-budget subsidiary of Singapore Airlines – travelling from Ho Chi Minh City to Singapore. Zhang has been charged with three counts of theft on suspicion of ransacking the bags of three passengers.

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The Chinese national allegedly stole from three separate passengers, according to the charging documents reported by Singapore’s Channel News Asia.&nbsp;

Zhang reportedly took about $123 from one passenger’s backpack and took $20,950 and a $38 (50 Singapore dollar note) from a black messenger bag belonging to another.

The 52-year-old allegedly also stole around $1,700 from an envelope he found inside a grey bag belonging to a third passenger.&nbsp;

Zhang was formally charged with theft counts in a Singapore district court on Monday (Dec 18) after being remanded for police investigations. If convicted, he could face up to three&nbsp;years in prison, a fine, or both.&nbsp;

<h2>How has the airline responded?</h2>

An airline spokesperson told CNN that it “was aware of an incident” that occurred onboard a flight from Ho Chi Minh City to Singapore on December 16.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/trending/australian-fisherman-claims-to-have-found-wreckage-of-mh370-plane-but-was-snubbed-by-authorities-671818">Australian fisherman claims he found wreckage of MH370 plane ‘but was snubbed by authorities’</a>

“Our cabin crew was alerted by a passenger to a suspected theft in the cabin and activated the Airport Police Division,” the spokesperson told CNN.&nbsp;

“The involved passengers were escorted off the aircraft by airport authorities for further investigation, and disembarkation proceeded as usual for the rest of our passengers.” 
&nbsp; 
A Scoot Airline spokesperson told CNN that they cannot give any further details about the case and have also asked crew and passengers to remain vigilant on board.

“Our operating crew are trained to be vigilant and alert authorities of any suspicious behaviour on board our flights,” it said in the statement. “We also advise our customers to safeguard their valuables at all times.”&nbsp;

(With inputs from agencies) 
&nbsp;

A man has been charged with theft after allegedly stealing more than $23,000 in cash from three fellow passengers on a budget flight from Vietnam to Singapore. The suspect, later identified as Zhang Xiuqiang, a 52-year-old Chinese national, was arrested at the city-state’s Changi Airport over the weekend.

A man has been charged with theft after allegedly stealing more than $23,000 in cash from three fellow passengers on a budget flight from Vietnam to Singapore. The suspect, later identified as Zhang Xiuqiang, a 52-year-old Chinese national, was arrested at the city-state’s Changi Airport over the weekend. What do we know about the incident? The incident took place on a two-hour Scoot Airline flight – the low-budget subsidiary of Singapore Airlines – travelling from Ho Chi Minh City to Singapore. Zhang has been charged with three counts of theft on suspicion of ransacking the bags of three passengers. ALSO READ | X gets going after global outage that blanked out user timelines The Chinese national allegedly stole from three separate passengers, according to the charging documents reported by Singapore’s Channel News Asia. Zhang reportedly took about $123 from one passenger’s backpack and took $20,950 and a $38 (50 Singapore dollar note) from a black messenger bag belonging to another. The 52-year-old allegedly also stole around $1,700 from an envelope he found inside a grey bag belonging to a third passenger. Zhang was formally charged with theft counts in a Singapore district court on Monday (Dec 18) after being remanded for police investigations. If convicted, he could face up to three years in prison, a fine, or both. How has the airline responded? An airline spokesperson told CNN that it “was aware of an incident” that occurred onboard a flight from Ho Chi Minh City to Singapore on December 16. ALSO READ | Australian fisherman claims he found wreckage of MH370 plane ‘but was snubbed by authorities’ “Our cabin crew was alerted by a passenger to a suspected theft in the cabin and activated the Airport Police Division,” the spokesperson told CNN. “The involved passengers were escorted off the aircraft by airport authorities for further investigation, and disembarkation proceeded as usual for the rest of our passengers.” A Scoot Airline spokesperson told CNN that they cannot give any further details about the case and have also asked crew and passengers to remain vigilant on board. “Our operating crew are trained to be vigilant and alert authorities of any suspicious behaviour on board our flights,” it said in the statement. “We also advise our customers to safeguard their valuables at all times.” (With inputs from agencies)

Mid-air heist: Man charged with stealing $23,000 from three fellow passengers

The tiny island nation of Singapore is considering plans to build artificial islands off its east coast, with the new land specifically designed to protect against rising sea levels.

Singapore considering artificial islands to deal with rising sea levels

Singapore witnessed a record rise in the number of coronavirus cases in the first week of December, after which the Ministry of Health (MOH) released a statement "strongly encouraging" people to wear a mask.

The Covid-19 cases rose to 56,043, between Dec 3 to 9, which was 75 per cent more than what was recorded in the previous week at 32,035.

The average daily hospitalisations rose from 225 to 350 whereas the average daily cases in the intensive care unit spiked from four to nine.

The Singapore government said that the dominant variant reported in the majority of cases was JN.1, which was a sublineage of BA.2.86.

"Based on the available international and local data, there is currently no clear indication that BA.2.86 or JN.1 are more transmissible or cause more severe disease than other circulating variants," MOH said in a statement.&nbsp;

The ministry also urged people to exercise personal and social responsibility stating that people who are down with acute respiratory infection symptoms should refrain from contact with others and stay at home.

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🦠 The estimated number of COVID-19 cases has risen to 56,043 in the week of 3 to 9 December. 
 
💪 To stop the spread of COVID-19, let's exercise social responsibility. 
 
😷 Refer to this graphic for a list of situations where mask-wearing is encouraged. <a href="https://t.co/3TgkILg3dj">pic.twitter.com/3TgkILg3dj</a>
— Ministry of Health (@MOHSingapore) <a href="https://twitter.com/MOHSingapore/status/1735630085099757812?ref_src=twsrc%5Etfw">December 15, 2023</a></blockquote>
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&nbsp;

"We urge the public to seek medical treatment at a hospital’s emergency department only for serious or life-threatening emergencies," stressed the ministry.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/india-kerala-sees-uptick-in-covid-19-cases-with-over-750-active-cases-in-state-669284">India: Kerala sees uptick in COVID-19 spread with over 750 active cases in state</a>

"This will preserve our hospital capacity for patients who truly need acute hospital care and allow those with severe illness to receive timely treatment."

<h2>Measures taken by government</h2>

The MoH, as per the Straits Times, amid the grave situation, announced its plan to open a Covid-19 treatment facility at Singapore Expo Hall 10 in the coming weekend to increase the number of beds for patients.

“To preserve our healthcare capacity, MOH has been working with public hospitals for contingency planning, including ensuring adequate manpower and deferring of non-urgent electives to maximise bed capacity for urgent cases in need of acute care," according to the statement.

Singapore's health ministry also said in a statement that it was working with the hospitals to devise contingency planning in order to provide patients with immediate care.

"In addition, hospitals are tapping on step-down facilities like Transitional Care Facilities and alternative care models like Mobile Inpatient Care@Home (MIC@Home) to ensure proper right-siting of patients," MOH said.

(With inputs from agencies)

Singapore witnessed a record rise in the number of coronavirus cases in the first week of December, after which the Ministry of Health (MOH) released a statement "strongly encouraging" people to wear a mask.

Singapore witnessed a record rise in the number of coronavirus cases in the first week of December, after which the Ministry of Health (MOH) released a statement "strongly encouraging" people to wear a mask. The Covid-19 cases rose to 56,043, between Dec 3 to 9, which was 75 per cent more than what was recorded in the previous week at 32,035. The average daily hospitalisations rose from 225 to 350 whereas the average daily cases in the intensive care unit spiked from four to nine. The Singapore government said that the dominant variant reported in the majority of cases was JN.1, which was a sublineage of BA.2.86. "Based on the available international and local data, there is currently no clear indication that BA.2.86 or JN.1 are more transmissible or cause more severe disease than other circulating variants," MOH said in a statement. The ministry also urged people to exercise personal and social responsibility stating that people who are down with acute respiratory infection symptoms should refrain from contact with others and stay at home. 🦠 The estimated number of COVID-19 cases has risen to 56,043 in the week of 3 to 9 December. 💪 To stop the spread of COVID-19, let's exercise social responsibility. 😷 Refer to this graphic for a list of situations where mask-wearing is encouraged. pic.twitter.com/3TgkILg3dj — Ministry of Health (@MOHSingapore) December 15, 2023 × "We urge the public to seek medical treatment at a hospital’s emergency department only for serious or life-threatening emergencies," stressed the ministry. Also read: India: Kerala sees uptick in COVID-19 spread with over 750 active cases in state "This will preserve our hospital capacity for patients who truly need acute hospital care and allow those with severe illness to receive timely treatment." Measures taken by government The MoH, as per the Straits Times, amid the grave situation, announced its plan to open a Covid-19 treatment facility at Singapore Expo Hall 10 in the coming weekend to increase the number of beds for patients. “To preserve our healthcare capacity, MOH has been working with public hospitals for contingency planning, including ensuring adequate manpower and deferring of non-urgent electives to maximise bed capacity for urgent cases in need of acute care," according to the statement. Singapore's health ministry also said in a statement that it was working with the hospitals to devise contingency planning in order to provide patients with immediate care. "In addition, hospitals are tapping on step-down facilities like Transitional Care Facilities and alternative care models like Mobile Inpatient Care@Home (MIC@Home) to ensure proper right-siting of patients," MOH said. (With inputs from agencies)

Singapore witnesses record surge in number of Covid-19 cases, mask-mandate returns

According to reports, which cited the Singapore Food Agency, Singapore has prohibited the import of raw poultry and poultry products from four Japanese prefectures in response to recent reports of bird flu outbreaks.

Singapore halts poultry from parts of Japan on bird flu; France on 'high' alert for bird flu

Opening batsman Prithvi Shaw has left Mumbai's Ranji Trophy squad midway after suffering a left rotator cuff injury. 
 
The player suffered the injury in the <a href="https://www.wionews.com/sports/no-compromise-on-credibility-zero-tolerance-toward-corruption-sourav-ganguly-in-his-first-media-interaction-as-bcci-president-257698">Ranji Trophy</a> match against Karnataka at Bandra Kurla Complex. The batsman has now been rushed to the National Cricket Academy (NCA). 
 
"He underwent an MRI scan last evening in Mumbai, and the reports confirmed a labral tear. He is in a lot of pain and is headed to Bangalore to meet the NCA physios. They will assess him and decide the next course," ESPN Cricinfo quoted Mumbai's coach Vinayak Samant as saying. 
 
Shaw had picked up the injury on Friday when he fell on his left shoulder while backing up to stop an overthrow. He left the field immediately and did not return. 
 
"Initially, it was more a precaution to get him off the field and rest him. I wanted him to bat, I thought he will bat even if it meant just going there, blocking and supporting the other batsman, but he wasn't entirely comfortable with that," said Vinayak. 
 
"Then we received an e-mail this morning around 11 am from the <a href="https://www.wionews.com/sports/bcci-confirms-jay-shah-as-representative-to-iccs-chief-executives-committee-265608">BCCI</a> to pull him out of the match and send him to the NCA for assessment. Losing him to an injury is disappointing, looking at his own game and from our team's point of view because we need to fight for every run if are to set a defend a target against Karnataka," he said. 
 
Shaw was named in India A squad for the upcoming series against New Zealand and the side was slated to leave for Auckland on January 10. 
Last year, Shaw was suspended by the BCCI for a doping violation. 
 
BCCI, in their statement, had stated that they were satisfied with the explanation given by Shaw that he had taken Terbutaline inadvertently to treat a Respiratory Tract Infection and not as a performance-enhancing drug.

Opening batsman Prithvi Shaw has left Mumbai's Ranji Trophy squad midway after suffering a left rotator cuff injury. The player suffered the injury in the Ranji Trophy match against Karnataka at Bandra Kurla Complex.

Opening batsman Prithvi Shaw has left Mumbai's Ranji Trophy squad midway after suffering a left rotator cuff injury. The player suffered the injury in the Ranji Trophy match against Karnataka at Bandra Kurla Complex. The batsman has now been rushed to the National Cricket Academy (NCA). "He underwent an MRI scan last evening in Mumbai, and the reports confirmed a labral tear. He is in a lot of pain and is headed to Bangalore to meet the NCA physios. They will assess him and decide the next course," ESPN Cricinfo quoted Mumbai's coach Vinayak Samant as saying. Shaw had picked up the injury on Friday when he fell on his left shoulder while backing up to stop an overthrow. He left the field immediately and did not return. "Initially, it was more a precaution to get him off the field and rest him. I wanted him to bat, I thought he will bat even if it meant just going there, blocking and supporting the other batsman, but he wasn't entirely comfortable with that," said Vinayak. "Then we received an e-mail this morning around 11 am from the BCCI to pull him out of the match and send him to the NCA for assessment. Losing him to an injury is disappointing, looking at his own game and from our team's point of view because we need to fight for every run if are to set a defend a target against Karnataka," he said. Shaw was named in India A squad for the upcoming series against New Zealand and the side was slated to leave for Auckland on January 10. Last year, Shaw was suspended by the BCCI for a doping violation. BCCI, in their statement, had stated that they were satisfied with the explanation given by Shaw that he had taken Terbutaline inadvertently to treat a Respiratory Tract Infection and not as a performance-enhancing drug.

Singapore envoy issues alert over fake diplomatic plates on car in Delhi, urges extra caution at IGI airport

Singapore Airlines on Tuesday posted a record half-year profit. This is good news for the overall travel & tourism sector as travel demand rose after passenger traffic to the northern Asia rebounded in the post-Covid world. The city-state's national carrier said net profit rose to $1.06 billion between April and September.

Singapore Airlines: Big post-Covid rebound | World News | Business News

Singapore Airlines reported record-breaking half-year profits on Tuesday, indicating the resurgence of travel demand, particularly to Northern Asia, as countries have fully reopened post the Covid-19 pandemic. &nbsp;

According to Reuters, the national carrier of Singapore, SIA, revealed that its net profit for the six months ending on September 30 reached S$1.44 billion ($1.06 billion), a significant increase from the S$926.9 million reported in the same period a year ago. In response to this performance, the airline declared an interim dividend of 10 Singapore cents per share.&nbsp;

The surge in demand for air travel in the Northern Summer travel season was a significant factor contributing to SIA's exceptional financial results. This revival was notably led by increased passenger traffic to North Asia, where countries like China, Hong Kong SAR, Japan, and Taiwan fully reopened their borders.&nbsp;

The airline, in an official statement, emphasised the increasing demand for air travel, attributing its success to the resurgence in passenger numbers in these key regions.&nbsp;

Notably, SIA reported a substantial decrease in costs related to fuel during the six-month period, amounting to S$413 million. However, the airline expressed concerns about potential price spikes in the fuel market due to supply risks. &nbsp;

While SIA and its budget subsidiary, Scoot, collectively carried around 17.4 million passengers during the half-year, marking a remarkable 52.3 per cent year-on-year increase, the airline remains vigilant about the unpredictability of fuel prices.&nbsp;

With optimism for the future, the SIA Group has set its sights on returning to pre-Covid passenger capacity levels within the fiscal years 2024-2025. To further strengthen its financial position and support its balance sheet during the pandemic-related air travel disruption, the airline issued zero-coupon mandatory convertible bonds (MCBs) in June 2021. Singapore Airlines is now in the process of redeeming 50 per cent of these MCBs, aiming to pay eligible bondholders on December 26 on a pro-rata basis. This redemption will amount to approximately 110.408 per cent of the MCBs' principal amount or around S$1.71 billion.&nbsp;

The airline also confirmed the ongoing progress of the proposed merger between Air India and its joint venture with India's Tata Group, Vistara. This significant merger remains subject to approvals from regulators and authorities in both India and Singapore.&nbsp;

(With inputs from Reuters)&nbsp;

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Singapore Airlines reported record-breaking half-year profits on Tuesday, indicating the resurgence of travel demand, particularly to Northern Asia, as countries have fully reopened post the Covid-19 pandemic.

Singapore Airlines reported record-breaking half-year profits on Tuesday, indicating the resurgence of travel demand, particularly to Northern Asia, as countries have fully reopened post the Covid-19 pandemic. According to Reuters, the national carrier of Singapore, SIA, revealed that its net profit for the six months ending on September 30 reached S$1.44 billion ($1.06 billion), a significant increase from the S$926.9 million reported in the same period a year ago. In response to this performance, the airline declared an interim dividend of 10 Singapore cents per share. The surge in demand for air travel in the Northern Summer travel season was a significant factor contributing to SIA's exceptional financial results. This revival was notably led by increased passenger traffic to North Asia, where countries like China, Hong Kong SAR, Japan, and Taiwan fully reopened their borders. The airline, in an official statement, emphasised the increasing demand for air travel, attributing its success to the resurgence in passenger numbers in these key regions. Notably, SIA reported a substantial decrease in costs related to fuel during the six-month period, amounting to S$413 million. However, the airline expressed concerns about potential price spikes in the fuel market due to supply risks. While SIA and its budget subsidiary, Scoot, collectively carried around 17.4 million passengers during the half-year, marking a remarkable 52.3 per cent year-on-year increase, the airline remains vigilant about the unpredictability of fuel prices. With optimism for the future, the SIA Group has set its sights on returning to pre-Covid passenger capacity levels within the fiscal years 2024-2025. To further strengthen its financial position and support its balance sheet during the pandemic-related air travel disruption, the airline issued zero-coupon mandatory convertible bonds (MCBs) in June 2021. Singapore Airlines is now in the process of redeeming 50 per cent of these MCBs, aiming to pay eligible bondholders on December 26 on a pro-rata basis. This redemption will amount to approximately 110.408 per cent of the MCBs' principal amount or around S$1.71 billion. The airline also confirmed the ongoing progress of the proposed merger between Air India and its joint venture with India's Tata Group, Vistara. This significant merger remains subject to approvals from regulators and authorities in both India and Singapore. (With inputs from Reuters) WATCH WION LIVE HERE

Singapore Airlines achieves record half-year profit amid surging air travel demand 

Marina Bay Sands, a luxury resort operator in Singapore, has announced that the personal data of about 665,000 members of its shopping loyalty program has been hacked.

Singapore luxury resort hotel hit by data security breach

A recent article by two economists in the Monetary Authority of Singapore's biannual report have highlighted the growing preference for remote work among Singapore's workforce.

Analysis by International Monetary Fund (IMF) economists Shujaat Khan and Margaux MacDonald showed that over 70 per cent of Singaporean workers prefer remote work. The economists, citing a 2022 report by PwC, revealed that 73 per cent of Singaporean workers favoured a hybrid work model between June 2022 and May 2023. This percentage is significantly higher than the global average of 63 per cent.

The appeal for remote work has remained stable at around 20 per cent of the workforce, which is slightly higher than pre-COVID-19 levels. However, this trend in Singapore is different from the global pattern, where education and gender play a major role. In Singapore, factors like age, perceived productivity, and the sectors in which individuals are employed primarily shape the inclination towards remote work.

Khan and MacDonald noted that in Singapore, younger individuals have a greater desire for remote work. Additionally, those who perceive themselves as being more productive are more inclined towards working from home. It is important to note that remote work prevalence varies across different sectors.

During the pandemic in 2020, around 77 per cent of employed residents in digital sectors such as information and communications as well as financial services worked remotely. This is a stark contrast to only 11 per cent of the food and beverage services sector and 28 per cent in health and social services

The economists highlighted insights provided by the Ministry of Manpower (MOM) about the changing nature of work arrangements in Singapore. The MOM's data revealed that in 2021, over 90 per cent of establishments in Singapore offered at least one flexible work arrangement, significantly higher than the 50 per cent average in the six years before the pandemic. Even though the figure dropped to 71 per cent in 2022, it remained higher than pre-pandemic levels. Furthermore, the MOM's survey in 2022 showed that 34 per cent of employed residents worked from home at least once a month.

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A recent article by two economists in the Monetary Authority of Singapore's biannual report have highlighted the growing preference for remote work among Singapore's workforce.

A recent article by two economists in the Monetary Authority of Singapore's biannual report have highlighted the growing preference for remote work among Singapore's workforce. Analysis by International Monetary Fund (IMF) economists Shujaat Khan and Margaux MacDonald showed that over 70 per cent of Singaporean workers prefer remote work. The economists, citing a 2022 report by PwC, revealed that 73 per cent of Singaporean workers favoured a hybrid work model between June 2022 and May 2023. This percentage is significantly higher than the global average of 63 per cent. The appeal for remote work has remained stable at around 20 per cent of the workforce, which is slightly higher than pre-COVID-19 levels. However, this trend in Singapore is different from the global pattern, where education and gender play a major role. In Singapore, factors like age, perceived productivity, and the sectors in which individuals are employed primarily shape the inclination towards remote work. Khan and MacDonald noted that in Singapore, younger individuals have a greater desire for remote work. Additionally, those who perceive themselves as being more productive are more inclined towards working from home. It is important to note that remote work prevalence varies across different sectors. During the pandemic in 2020, around 77 per cent of employed residents in digital sectors such as information and communications as well as financial services worked remotely. This is a stark contrast to only 11 per cent of the food and beverage services sector and 28 per cent in health and social services The economists highlighted insights provided by the Ministry of Manpower (MOM) about the changing nature of work arrangements in Singapore. The MOM's data revealed that in 2021, over 90 per cent of establishments in Singapore offered at least one flexible work arrangement, significantly higher than the 50 per cent average in the six years before the pandemic. Even though the figure dropped to 71 per cent in 2022, it remained higher than pre-pandemic levels. Furthermore, the MOM's survey in 2022 showed that 34 per cent of employed residents worked from home at least once a month. WATCH WION LIVE HERE

IMF economists highlight Singapore's strong preference for remote work

Singapore Prime Minister Lee Hsien Loong on Sunday said he will hand leadership of the ruling People's Action Party to Deputy Prime Minister Lawrence Wong as soon as the party's 70th anniversary in November 2024, a year before an election is due.

The party is widely expected to extend its dominance of a nation it has ruled since independence in 1965, meaning Wong is likely to become the next - and Singapore's fourth - premier.

Lee is the eldest son of Lee Kuan Yew, who is widely credited as establishing modern Singapore. He has served as party secretary-general and prime minister since 2004 and last year chose Wong, who is also finance minister, as his successor.

"I have full confidence in Lawrence and his team and there's no reason to delay their political transition. Therefore, I intend to hand over to DPM Lawrence before the next general election," Lee said at an annual party conference.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/china-to-boost-imports-and-market-access-despite-criticism-at-trade-expo-655683">China to boost imports and market access despite criticism at Trade Expo</a>

Lee, 71, had planned to transfer leadership before his 70th birthday but delayed due to the COVID-19 pandemic.

"I am ready for my next assignment," Wong, 50, said in an earlier speech at the conference.

Wong was catapulted into the spotlight as co-head of the government's COVID-19 task force, imposing restrictions on movement, border curbs and contact-tracing, earning him praise for helping contain infection and keeping deaths low.

He served as Lee's principal private secretary from 2005 to 2008 and led the education and national development ministries before becoming finance minister in 2021 and deputy prime minister last year.

Also read |&nbsp;<a href="https://www.wionews.com/world/chinas-xi-to-welcome-australian-pm-albanese-in-beijing-655690">China's Xi to welcome Australian PM Albanese in Beijing</a>

Wong is also deputy chairman of sovereign wealth fund GIC and chairman of the Monetary Authority of Singapore, the Southeast Asian nation's central bank.

<h2>'Bold move'</h2>

Transferring leadership before the next general election is a "bold move", some analysts said, though most said they do not expect it to have any impact on political stability.

"The safer thing to do for the party would be for Lee to hand over after the general election and give Wong time to build rapport with the electorate," said political scientist Walid Jumblatt Abdullah of Nanyang Technological University.

Still, handing over earlier is unlikely to affect stability as Lee would probably still be involved in the cabinet in some capacity, he said.

The ruling party won 83 of 93 parliamentary seats in the 2020 election. But, with the election held amid pandemic upheaval, its share of the popular vote dropped to a near-record low, and the 10 seats won by the opposition was unprecedented.

"The significance is that Wong will have to win his own mandate (in the next election)," said political scientist Chong Ja Ian at the National University of Singapore.

Singapore Prime Minister Lee Hsien Loong on Sunday said he will hand leadership of the ruling People's Action Party to Deputy Prime Minister Lawrence Wong as soon as the party's 70th anniversary in November 2024, a year before an election is due.

Singapore Prime Minister Lee Hsien Loong on Sunday said he will hand leadership of the ruling People's Action Party to Deputy Prime Minister Lawrence Wong as soon as the party's 70th anniversary in November 2024, a year before an election is due. The party is widely expected to extend its dominance of a nation it has ruled since independence in 1965, meaning Wong is likely to become the next - and Singapore's fourth - premier. Lee is the eldest son of Lee Kuan Yew, who is widely credited as establishing modern Singapore. He has served as party secretary-general and prime minister since 2004 and last year chose Wong, who is also finance minister, as his successor. "I have full confidence in Lawrence and his team and there's no reason to delay their political transition. Therefore, I intend to hand over to DPM Lawrence before the next general election," Lee said at an annual party conference. Also read | China to boost imports and market access despite criticism at Trade Expo Lee, 71, had planned to transfer leadership before his 70th birthday but delayed due to the COVID-19 pandemic. "I am ready for my next assignment," Wong, 50, said in an earlier speech at the conference. Wong was catapulted into the spotlight as co-head of the government's COVID-19 task force, imposing restrictions on movement, border curbs and contact-tracing, earning him praise for helping contain infection and keeping deaths low. He served as Lee's principal private secretary from 2005 to 2008 and led the education and national development ministries before becoming finance minister in 2021 and deputy prime minister last year. Also read | China's Xi to welcome Australian PM Albanese in Beijing Wong is also deputy chairman of sovereign wealth fund GIC and chairman of the Monetary Authority of Singapore, the Southeast Asian nation's central bank. 'Bold move' Transferring leadership before the next general election is a "bold move", some analysts said, though most said they do not expect it to have any impact on political stability. "The safer thing to do for the party would be for Lee to hand over after the general election and give Wong time to build rapport with the electorate," said political scientist Walid Jumblatt Abdullah of Nanyang Technological University. Still, handing over earlier is unlikely to affect stability as Lee would probably still be involved in the cabinet in some capacity, he said. The ruling party won 83 of 93 parliamentary seats in the 2020 election. But, with the election held amid pandemic upheaval, its share of the popular vote dropped to a near-record low, and the 10 seats won by the opposition was unprecedented. "The significance is that Wong will have to win his own mandate (in the next election)," said political scientist Chong Ja Ian at the National University of Singapore.

Singapore Deputy PM Wong to lead ruling party before general election - PM

A report by IMF economists finds that over 70% of Singaporean workers exhibit a robust preference for remote work, outshining their global peers. 73% Singaporean workers are interested in hybrid work, substantially higher than the global average of 63%.

Majority in Singapore favor remote work

Singapore’s air force and emergency services were deployed on Thursday (Oct 12) to escort a flight operated by budget carrier Scoot back to the city-state’s Changi Airport after it received a bomb threat, said the airline in a statement. The threat was received an hour after the flight had departed from Singapore for the Australian city of Perth.&nbsp;

<h2>What&nbsp;happened?</h2>

According to the airline, Scoot flight TR16 to Perth departed Singapore at 4:11 pm (local time) and landed back in the city-state nearly two hours after the take-off at around 6:27 (local time) where security checks were carried out.&nbsp;

In an emailed statement, Scoot – the low-cost arm of Singapore Airlines Group – said that the decision to turn back the Perth-bound flight to Singapore was a “precautionary” one and taken after about an hour into the journey “due to a bomb threat.” &nbsp;

ALSO READ |<a href="https://www.wionews.com/india-news/bomb-threat-on-delhi-pune-vistara-flight-at-delhi-airport-probe-underway-626614">&nbsp;India: Bomb threat on Delhi-Pune Vistara flight at Delhi airport, police respond</a> 
 
It added, “The Republic of Singapore Air Force (RSAF) was activated to escort the aircraft back to Changi Airport. Emergency services were also activated.”&nbsp;

“Scoot is assisting the authorities with their investigations. As this is a security matter, we regret that we are unable to provide further details,” said the airline.&nbsp;

The aircraft, as per media reports, was carrying 363 passengers and nine cabin crew members, as well as two pilots on board.&nbsp;

According to flight tracking website Flightradar24 the Boeing 787 Dreamliner was circling off the east coast of Malaysia before flying towards Changi Airport.

<h2>Defence ministry and eyewitness account</h2>

The city-state’s Defence Minister Ng Eng Hen, in a Facebook post, said that two F-15SG fighter planes were scrambled to escort the Scoot flight back to Changi Airport.&nbsp;

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The Singapore police said that they were informed about the alleged bomb threat on the flight at around 4:55 pm (local time) and they are investigating the incident.&nbsp;

“The police take security threats seriously and will not hesitate to take action against those who intentionally cause public alarm,” said a police spokesperson as quoted by The Straits Times.&nbsp;

A 30-year-old systems analyst, who did not want to be named, told The Straits Times that passengers were informed at about 5:05 that the aircraft was experiencing “minor issues”.&nbsp;

When the fighter jets arrived people were “passing phones to those seated by the windows to take photos,” adding that he did not sense much alarm among those on board.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/eiffel-tower-in-paris-evacuated-after-bomb-threat-reports-624867">Eiffel Tower in Paris briefly evacuated after bomb threat: Reports</a>

The Civil Aviation Authority of Singapore said one runway of the Changi airport shut for about an hour “to facilitate ground operations,” and eight arriving flights and six departures experienced some delay because of the incident.

(With inputs from agencies)&nbsp; 
 
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Singapore’s air force and emergency services were deployed on Thursday (Oct 12) to escort a flight operated by budget carrier Scoot back to the city-state’s Changi Airport after it received a bomb threat, said the airline in a statement.

Singapore’s air force and emergency services were deployed on Thursday (Oct 12) to escort a flight operated by budget carrier Scoot back to the city-state’s Changi Airport after it received a bomb threat, said the airline in a statement. The threat was received an hour after the flight had departed from Singapore for the Australian city of Perth. What happened? According to the airline, Scoot flight TR16 to Perth departed Singapore at 4:11 pm (local time) and landed back in the city-state nearly two hours after the take-off at around 6:27 (local time) where security checks were carried out. In an emailed statement, Scoot – the low-cost arm of Singapore Airlines Group – said that the decision to turn back the Perth-bound flight to Singapore was a “precautionary” one and taken after about an hour into the journey “due to a bomb threat.” ALSO READ | India: Bomb threat on Delhi-Pune Vistara flight at Delhi airport, police respond It added, “The Republic of Singapore Air Force (RSAF) was activated to escort the aircraft back to Changi Airport. Emergency services were also activated.” “Scoot is assisting the authorities with their investigations. As this is a security matter, we regret that we are unable to provide further details,” said the airline. The aircraft, as per media reports, was carrying 363 passengers and nine cabin crew members, as well as two pilots on board. According to flight tracking website Flightradar24 the Boeing 787 Dreamliner was circling off the east coast of Malaysia before flying towards Changi Airport. Defence ministry and eyewitness account The city-state’s Defence Minister Ng Eng Hen, in a Facebook post, said that two F-15SG fighter planes were scrambled to escort the Scoot flight back to Changi Airport. ALSO READ | US will always 'back' Israel, says Blinken to Netanyahu on solidarity visit The Singapore police said that they were informed about the alleged bomb threat on the flight at around 4:55 pm (local time) and they are investigating the incident. “The police take security threats seriously and will not hesitate to take action against those who intentionally cause public alarm,” said a police spokesperson as quoted by The Straits Times. A 30-year-old systems analyst, who did not want to be named, told The Straits Times that passengers were informed at about 5:05 that the aircraft was experiencing “minor issues”. When the fighter jets arrived people were “passing phones to those seated by the windows to take photos,” adding that he did not sense much alarm among those on board. ALSO READ | Eiffel Tower in Paris briefly evacuated after bomb threat: Reports The Civil Aviation Authority of Singapore said one runway of the Changi airport shut for about an hour “to facilitate ground operations,” and eight arriving flights and six departures experienced some delay because of the incident. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Fighter jets scramble to escort Perth-bound flight to Singapore after bomb threat

Wildfires in Indonesia have resulted in drop in air quality in neighbouring Singapore, revealed official readings. At 0600 GMT (2 pm local time) on Saturday (Oct 7), the 24-hour Pollutant Standards Index in eastern and central Singapore was above 100. When the index crosses this mark, people are advised to reduce strenuous outdoor activities.

Singapore's National Environment Agency has said it detected 212 hot spots on Indonesia's Sumatra island on Friday. The number was up from 65 on Thursday and 15 on the day before that.

In Indonesia, the traditional land clearing methods are followed almost every year to clear land for palm, and paper plantations.

Watch | Indonesia denies smog from forest fires drifted to Malaysia

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Indonesia's environment minister said on Friday that the country was attempting to douse forest fires with water-spraying helicopters and cloud-seeding-induced rain.

Air quality in Malaysia has been hit as well. Malaysia urged Indonesia to bring the fires under control.

Indonesia President Joko Widodo has said that wildfires in many areas were caused by extreme dry weather. He however, maintained that the situation was much better than that in 2015 when wildfires gutted 2.6 million hectares of land.

President Widodo urged local authorities in the country to put out fires before they spread.

Scientists have said that millions of hectares or land burnt in the year 2015 and 2019 generating record emissions. This had sent haze billowing across several Southeast Asian countries.

Also Read | <a href="https://www.wionews.com/world/singapores-certificate-of-entitlement-to-own-car-now-costs-over-rs88-lakh-642670">Singapore's 'Certificate of Entitlement' to own car now costs over $106,000, or more than two cars</a>

Singapore suffered the most severe haze conditions in September 2015. At the time, the 24-hour index exceeded 300 to the hazardous level. This had prompted closure of schools.

Transborder haze is a regular problem in Southeast Asia. Regulatory loopholes make it hard for authorities to control and eliminate traditional slash-and-burn land clearing practices. These are used almost every year.

(With inputs from agencies)

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Wildfires in Indonesia have resulted in drop in air quality in neighbouring Singapore, revealed official readings. At 0600 GMT (2 pm local time) on Saturday (Oct 7), the 24-hour Pollutant Standards Index in eastern and central Singapore was above 100.

Wildfires in Indonesia have resulted in drop in air quality in neighbouring Singapore, revealed official readings. At 0600 GMT (2 pm local time) on Saturday (Oct 7), the 24-hour Pollutant Standards Index in eastern and central Singapore was above 100. When the index crosses this mark, people are advised to reduce strenuous outdoor activities. Singapore's National Environment Agency has said it detected 212 hot spots on Indonesia's Sumatra island on Friday. The number was up from 65 on Thursday and 15 on the day before that. In Indonesia, the traditional land clearing methods are followed almost every year to clear land for palm, and paper plantations. Watch | Indonesia denies smog from forest fires drifted to Malaysia × Indonesia's environment minister said on Friday that the country was attempting to douse forest fires with water-spraying helicopters and cloud-seeding-induced rain. Air quality in Malaysia has been hit as well. Malaysia urged Indonesia to bring the fires under control. Indonesia President Joko Widodo has said that wildfires in many areas were caused by extreme dry weather. He however, maintained that the situation was much better than that in 2015 when wildfires gutted 2.6 million hectares of land. President Widodo urged local authorities in the country to put out fires before they spread. Scientists have said that millions of hectares or land burnt in the year 2015 and 2019 generating record emissions. This had sent haze billowing across several Southeast Asian countries. Also Read | Singapore's 'Certificate of Entitlement' to own car now costs over $106,000, or more than two cars Singapore suffered the most severe haze conditions in September 2015. At the time, the 24-hour index exceeded 300 to the hazardous level. This had prompted closure of schools. Transborder haze is a regular problem in Southeast Asia. Regulatory loopholes make it hard for authorities to control and eliminate traditional slash-and-burn land clearing practices. These are used almost every year. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Raging wildfires in Indonesia affect air quality in Singapore

Singapore's vehicle quota system is running at an all-time high, following which, to own a car in the city-country, a buyer must bid for a certificate that now costs US$106,000 (over ₹88 lakh).

Singapore has a 10-year "certificate of entitlement" (COE) system, introduced in 1990, to control the number of vehicles in the small country.&nbsp;

The city-country is home to nearly 6 million people.&nbsp;

<h2>Singapore's expensive city status elevated by COE system</h2>

The Certificate of Entitlement is offered through a bidding process.&nbsp;

In 2020, when fewer people in Singapore were driving, the price of COEs dropped to about S$30,000.

A post-Covid increase in economic activity has led to more car purchases while the total number of vehicles on the road is capped at about 950,000.&nbsp;

The number of new COEs available also depends on how many older cars are deregistered.

<h2>What does it mean?</h2>

Experts cited in the Singaporean media say that the skyrocketing price of the COEs as well as the cars puts the four-wheelers out of the reach of most middle-class Singaporeans.&nbsp;

This has also depleted the ability of Singapore residents into a purported "Singapore Dream" of upward social mobility, according to sociologist Tan Ern Ser

The median annual household salary in Singapore is S$121,188.

Singaporeans have been battling a persistent inflation and a slowing economy, and some are selling the cars they bought when COE prices were low to make a profit.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/singapores-massive-anti-money-laundering-operation-cash-assets-seized-worth-700mn-10-arrested-626151">Singapore’s massive anti-money laundering operation: Cash, assets worth $700mn seized, 10 arrested</a>

"There is a need to lower one’s aspiration from achieving the 'good life' to settling with a 'good enough life'," Tan was quoted as saying by The Edge Malaysia.&nbsp;

Jason Guan, 40, an insurance agent and father of two, said he bought his first car, a Toyota Rush, for S$65,000 in 2008, including the price of the COE.

Also watch |&nbsp;Car ownership in Singapore is an expensive luxury only few can afford

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Now Guan lives without a car, focusing on other perks that Singapore offers for his family.

"As a family man, it doesn’t affect me much as Singapore still has a good and stable education system. In terms of security, it's still one of the safest countries," he was quoted as saying by the Malaysia-based publication.&nbsp;

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Singapore's vehicle quota system is running at an all-time high, following which, to own a car in the city-country, a buyer must bid for a certificate that now costs US$106,000 (over ₹88 lakh).

Singapore's vehicle quota system is running at an all-time high, following which, to own a car in the city-country, a buyer must bid for a certificate that now costs US$106,000 (over ₹88 lakh). Singapore has a 10-year "certificate of entitlement" (COE) system, introduced in 1990, to control the number of vehicles in the small country. The city-country is home to nearly 6 million people. Singapore's expensive city status elevated by COE system The Certificate of Entitlement is offered through a bidding process. In 2020, when fewer people in Singapore were driving, the price of COEs dropped to about S$30,000. A post-Covid increase in economic activity has led to more car purchases while the total number of vehicles on the road is capped at about 950,000. The number of new COEs available also depends on how many older cars are deregistered. What does it mean? Experts cited in the Singaporean media say that the skyrocketing price of the COEs as well as the cars puts the four-wheelers out of the reach of most middle-class Singaporeans. This has also depleted the ability of Singapore residents into a purported "Singapore Dream" of upward social mobility, according to sociologist Tan Ern Ser The median annual household salary in Singapore is S$121,188. Singaporeans have been battling a persistent inflation and a slowing economy, and some are selling the cars they bought when COE prices were low to make a profit. Also read | Singapore’s massive anti-money laundering operation: Cash, assets worth $700mn seized, 10 arrested "There is a need to lower one’s aspiration from achieving the 'good life' to settling with a 'good enough life'," Tan was quoted as saying by The Edge Malaysia. Jason Guan, 40, an insurance agent and father of two, said he bought his first car, a Toyota Rush, for S$65,000 in 2008, including the price of the COE. Also watch | Car ownership in Singapore is an expensive luxury only few can afford × Now Guan lives without a car, focusing on other perks that Singapore offers for his family. "As a family man, it doesn’t affect me much as Singapore still has a good and stable education system. In terms of security, it's still one of the safest countries," he was quoted as saying by the Malaysia-based publication. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Singapore's 'Certificate of Entitlement' to own car now costs over $106,000, or more than two cars

A 34-year-old Indian national died in an accident at a construction site here, officials said.

The incident occurred in the afternoon on Sunday (Sept 24) in Pasir Ris Industrial Drive 1, when a steel stand that was supporting a cable drum gave way, the Ministry of Manpower said on Tuesday.

A cable drum is a round, cylindrical object used to carry wound-up wires and cables, reported The Straits Times.

The worker was taken to the Changi General Hospital, where he died of injuries, the officials said, adding that he was employed by Alliance E&amp;C.

Hong Hock Global, a construction and roadworks company occupying the site, has been ordered to stop all cable-laying work there.

"As a general safety measure, the cable drum and its supporting structure must be stable and secured during cabling works," the ministry said, adding that it is investigating the accident.

There have been at least 19 work-related deaths in Singapore so far in 2023.

In comparison, there were a total of 30 workplace fatalities in 2020, 37 in 2021 and 46 in 2022.

Senior Minister of State for Manpower Zaqy Mohamad said the maximum fine for breaches of certain workplace safety and health laws that could result in death or serious injury will be raised from SGD20,000 to SGD50,000 to further improve deterrence.&nbsp;

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A 34-year-old Indian national died in an accident at a construction site here, officials said. The incident occurred in the afternoon on Sunday (Sept 24) in Pasir Ris Industrial Drive 1, when a steel stand that was supporting a cable drum gave way, the Ministry of Manpower said on Tuesday.

A 34-year-old Indian national died in an accident at a construction site here, officials said. The incident occurred in the afternoon on Sunday (Sept 24) in Pasir Ris Industrial Drive 1, when a steel stand that was supporting a cable drum gave way, the Ministry of Manpower said on Tuesday. A cable drum is a round, cylindrical object used to carry wound-up wires and cables, reported The Straits Times. The worker was taken to the Changi General Hospital, where he died of injuries, the officials said, adding that he was employed by Alliance E&C. Hong Hock Global, a construction and roadworks company occupying the site, has been ordered to stop all cable-laying work there. "As a general safety measure, the cable drum and its supporting structure must be stable and secured during cabling works," the ministry said, adding that it is investigating the accident. There have been at least 19 work-related deaths in Singapore so far in 2023. In comparison, there were a total of 30 workplace fatalities in 2020, 37 in 2021 and 46 in 2022. Senior Minister of State for Manpower Zaqy Mohamad said the maximum fine for breaches of certain workplace safety and health laws that could result in death or serious injury will be raised from SGD20,000 to SGD50,000 to further improve deterrence. WATCH WION LIVE HERE:

34-year-old Indian worker dies at Singapore construction site

The Singapore army specialists on Tuesday (Sep 26) detonated a 100-kilogramme World War II-era bomb found at a construction site after evacuating thousands of residents from nearby areas. The detonation of the unexploded aerial bomb which was discovered last week has been described as the largest-ever exercise involving a WW II relic in Singapore by the city-state’s media.&nbsp;

<h2>‘Largest-ever’ exercise involving WWII relic</h2>

More than 4,000 people were evacuated from nearby residences for the controlled detonation, reported news agency AFP. The unexploded aerial bomb was found in Singapore’s northeastern suburb of Bukit Timah where a condominium or condo was being built, said the police on Sunday (Sep 24).&nbsp;

The news agency also reported that prior to the detonation, military officers were seen setting up sandbags around the area to contain the blast. Subsequently, soldiers carried the explosive on a net from where it was found into the sandbagged area, where charges had been laid.

A mushroom cloud rose in the distance after the explosion on Tuesday morning as bomb disposal experts carried out the first of a series of explosions, reported AFP.&nbsp; 
&nbsp;

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100 years old World War 2 bomb relic found at construction site in underground Singapore. It’s so long and just discovered 😱, luckily 200m radius residents has been clear for safety <a href="https://t.co/9QibeXGcN6">pic.twitter.com/9QibeXGcN6</a>
— Sally (@Daphney_Salina) <a href="https://twitter.com/Daphney_Salina/status/1706607703219655142?ref_src=twsrc%5Etfw">September 26, 2023</a></blockquote>
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According to local media reports, the device likely contained around 47 kilogrammes of explosives which would have been strong enough to blow up the surrounding apartment block.&nbsp;

The police warned residents not to be alarmed by the loud explosion and to avoid the area.

The unexploded aerial bomb which is believed to be one of the largest wartime explosives discovered in Singapore had been deemed unsafe to move, and hence had to be disposed of on-site by the military, according to the local police.&nbsp;

The nearby buildings and roads were deemed structurally safe and residents were allowed to return home, said the police, after the detonation. Notably, the officials in Singapore made no reference to the origin of the bomb.

<h2>How did it get there?</h2>

Japanese planes had first bombed Singapore, on December 8, 1941, when it was a British colony a day after Tokyo’s attack on the United States Pacific fleet in Pearl Harbor, Hawaii.&nbsp;

During WWII the city-state was occupied by the Japanese from 1942 to 1945.

It is not the first time that an unexploded device was found in the land-scarce city-state.&nbsp;

A projectile believed to be a war relic was discovered in April 2021 by a construction worker prompting the evacuation of more than 100 people from nearby shops, reported the Straits Times newspaper.&nbsp;

In 2016, another WWII bomb was found and disposed of, however, civilian evacuations were reported back then, according to The Straits Times.

(With inputs from agencies) 
 
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The Singapore army specialists on Tuesday (Sep 26) detonated a 100-kilogramme World War II-era bomb found at a construction site after evacuating thousands of residents from nearby areas.

The Singapore army specialists on Tuesday (Sep 26) detonated a 100-kilogramme World War II-era bomb found at a construction site after evacuating thousands of residents from nearby areas. The detonation of the unexploded aerial bomb which was discovered last week has been described as the largest-ever exercise involving a WW II relic in Singapore by the city-state’s media. ‘Largest-ever’ exercise involving WWII relic More than 4,000 people were evacuated from nearby residences for the controlled detonation, reported news agency AFP. The unexploded aerial bomb was found in Singapore’s northeastern suburb of Bukit Timah where a condominium or condo was being built, said the police on Sunday (Sep 24). The news agency also reported that prior to the detonation, military officers were seen setting up sandbags around the area to contain the blast. Subsequently, soldiers carried the explosive on a net from where it was found into the sandbagged area, where charges had been laid. A mushroom cloud rose in the distance after the explosion on Tuesday morning as bomb disposal experts carried out the first of a series of explosions, reported AFP. 100 years old World War 2 bomb relic found at construction site in underground Singapore. It’s so long and just discovered 😱, luckily 200m radius residents has been clear for safety pic.twitter.com/9QibeXGcN6 — Sally (@Daphney_Salina) September 26, 2023 × According to local media reports, the device likely contained around 47 kilogrammes of explosives which would have been strong enough to blow up the surrounding apartment block. The police warned residents not to be alarmed by the loud explosion and to avoid the area. The unexploded aerial bomb which is believed to be one of the largest wartime explosives discovered in Singapore had been deemed unsafe to move, and hence had to be disposed of on-site by the military, according to the local police. The nearby buildings and roads were deemed structurally safe and residents were allowed to return home, said the police, after the detonation. Notably, the officials in Singapore made no reference to the origin of the bomb. How did it get there? Japanese planes had first bombed Singapore, on December 8, 1941, when it was a British colony a day after Tokyo’s attack on the United States Pacific fleet in Pearl Harbor, Hawaii. During WWII the city-state was occupied by the Japanese from 1942 to 1945. It is not the first time that an unexploded device was found in the land-scarce city-state. A projectile believed to be a war relic was discovered in April 2021 by a construction worker prompting the evacuation of more than 100 people from nearby shops, reported the Straits Times newspaper. In 2016, another WWII bomb was found and disposed of, however, civilian evacuations were reported back then, according to The Straits Times. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Singapore detonates 100kg World War II-era bomb after thousands evacuated

A Singaporean Chinese cab driver is facing an investigation from his employer for allegedly verbally abusing a woman and her daughter during a ride due to a misunderstanding regarding the destination and an assumption that the woman was of Indian origin, media reports said.&nbsp;Janelle Hoeden, a 46-year-old woman of Eurasian origin, recounted the incident, stating that the cab driver insulted her by saying, "You are Indian, you are stupid." As per reports, the incident unfolded on Saturday (September 23). Hoeden was accompanied by her nine-year-old daughter during the ride.

<h2>Recorded interaction</h2>

Hoeden recorded the escalating confrontation on her phone during the incident. She had booked the ride using the TADA ride-hailing platform at around 2 pm on September 23. According to reports citing The Straits Times, the ride initially proceeded without any issues. However, the situation took a turn when the driver became agitated due to road construction along the route in the Pasir Ris housing estate.

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The driver allegedly started shouting at Hoeden, accusing her of providing incorrect address details and directions.&nbsp;"He started shouting at me, saying that I gave him the wrong address and wrong directions," she said.

The video of the incident was shared on Hoeden's Facebook page. It was later also posted by a TikTok user and an alternative news site called Wake Up Singapore.

In the contentious video, the driver, who is of Chinese descent, repeatedly asserted that Hoeden's daughter was under the height requirement of 1.35 meters.

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The driver's insistence on the child's height was related to safety regulations, as all vehicles in Singapore are required to have booster seats or child restraints for passengers under 1.35 meters in height, as per the Land Transport Authority (LTA).

<h2>Racial insults&nbsp;</h2>

During the incident, the driver shouted racially insensitive comments at Hoeden, saying, "You are Indian, I'm Chinese... You are the very worst kind."

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Hoeden corrected the driver by identifying herself as Singaporean Eurasian, not Indian. It is to be pointed out that Eurasians may have a tan and occasionally resemble people of Indian descent.

The woman explained that she felt threatened and was concerned that the situation might escalate to physical violence, prompting her to instruct her daughter to record the encounter.

"As he was verbally abusive, I was afraid that he would start getting physical with me, so I told her to record," Hoeden reportedly said, adding, "Whether I was tanned skin, or Indian, or otherwise, it's unacceptable what he said - it was totally uncalled for, that he pulled out the race card."&nbsp;

The traumatic incident left both Hoeden and her child shaken.

<h2>Response from TADA&nbsp;</h2>

TADA&nbsp;Singapore, the ride-hailing platform used for the trip, responded to the incident, stating that they do not tolerate racism, discrimination, or abuse.

The company initiated an internal investigation into the matter and stressed its commitment to addressing the issue promptly and fairly.&nbsp;A Tada spokeswoman reiterated that comments or remarks that suggest racial differences directly violate their community guidelines and do not reflect the company's values.

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A Singaporean Chinese cab driver is facing an investigation from his employer for allegedly verbally abusing a woman and her daughter during a ride due to a misunderstanding regarding the destination and an assumption that the woman was of Indian origin, media reports said.

A Singaporean Chinese cab driver is facing an investigation from his employer for allegedly verbally abusing a woman and her daughter during a ride due to a misunderstanding regarding the destination and an assumption that the woman was of Indian origin, media reports said. Janelle Hoeden, a 46-year-old woman of Eurasian origin, recounted the incident, stating that the cab driver insulted her by saying, "You are Indian, you are stupid." As per reports, the incident unfolded on Saturday (September 23). Hoeden was accompanied by her nine-year-old daughter during the ride. Recorded interaction Hoeden recorded the escalating confrontation on her phone during the incident. She had booked the ride using the TADA ride-hailing platform at around 2 pm on September 23. According to reports citing The Straits Times, the ride initially proceeded without any issues. However, the situation took a turn when the driver became agitated due to road construction along the route in the Pasir Ris housing estate. Also Read | European Space Agency releases photo of Earth split in day and night The driver allegedly started shouting at Hoeden, accusing her of providing incorrect address details and directions. "He started shouting at me, saying that I gave him the wrong address and wrong directions," she said. The video of the incident was shared on Hoeden's Facebook page. It was later also posted by a TikTok user and an alternative news site called Wake Up Singapore. In the contentious video, the driver, who is of Chinese descent, repeatedly asserted that Hoeden's daughter was under the height requirement of 1.35 meters. Also Read | Scientists in Brazil rediscover tree deemed extinct for over 200 years The driver's insistence on the child's height was related to safety regulations, as all vehicles in Singapore are required to have booster seats or child restraints for passengers under 1.35 meters in height, as per the Land Transport Authority (LTA). Racial insults During the incident, the driver shouted racially insensitive comments at Hoeden, saying, "You are Indian, I'm Chinese... You are the very worst kind." Watch | NASA spacecraft carrying asteroid sample touches down in Utah × Hoeden corrected the driver by identifying herself as Singaporean Eurasian, not Indian. It is to be pointed out that Eurasians may have a tan and occasionally resemble people of Indian descent. The woman explained that she felt threatened and was concerned that the situation might escalate to physical violence, prompting her to instruct her daughter to record the encounter. "As he was verbally abusive, I was afraid that he would start getting physical with me, so I told her to record," Hoeden reportedly said, adding, "Whether I was tanned skin, or Indian, or otherwise, it's unacceptable what he said - it was totally uncalled for, that he pulled out the race card." The traumatic incident left both Hoeden and her child shaken. Response from TADA TADA Singapore, the ride-hailing platform used for the trip, responded to the incident, stating that they do not tolerate racism, discrimination, or abuse. The company initiated an internal investigation into the matter and stressed its commitment to addressing the issue promptly and fairly. A Tada spokeswoman reiterated that comments or remarks that suggest racial differences directly violate their community guidelines and do not reflect the company's values. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Singaporean Chinese driver's racist tirade: Tells woman 'you are very worst kind', assuming she is Indian

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