Singapore

‘We are a battleground now’: In Southeast Asia, U.S.-China tensions flare on social media
19Aug By Desk TeamNo Comments
Asia, China, Singapore, USA, World

‘We are a battleground now’: In Southeast Asia, U.S.-China tensions flare on social media

Tensions between the United States and China over the South China Sea have erupted into a war of words on social media, in what analysts see as a change in U.S. strategy amid a burgeoning superpower rivalry in Southeast Asia. After Washington last week hardened its position by explicitly rejecting Chinese maritime claims in the South China Sea, U.S. embassies in the region produced an unprecedented flurry of op-eds and statements criticizing Beijing's actions. China's response was fiery, accusing Washington of "defaming China with untrue words so as to mislead the public" in the region. "We are a battleground now," Renato de Castro, an analyst with the Albert Del Rosario Institute for Strategic and International Relations in the Philippines, told Reuters by phone. "It will be a long gam...
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New company by Temasek, Bayer to develop vegetable seed varieties for vertical farming
19Aug By Desk TeamNo Comments
Singapore, USA, World

New company by Temasek, Bayer to develop vegetable seed varieties for vertical farming

SINGAPORE: Singapore state investment firm Temasek has joined hands with the impact investment arm of German pharmaceutical and chemical maker Bayer to form a company that aims to develop new varieties of vegetable seeds better suited for indoor vertical farms. The new company, Unfold, will be headquartered in Davis, California, and plans to have commercial and research and development (R&D) operations in both the United States and Singapore. Unfold has raised US$30 million from Temasek and Bayer in its initial funding round, which will go into getting its R&D capabilities in place, said CEO John Purcell on Wednesday (Aug 12). “Initially, Bayer and Temasek have equal ownership of Unfold, but this may change over time. Unfold has the flexibility to seek investment from other compan...
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Singapore, US agree on importance of COVID-19 vaccines being made available globally: MFA
4Aug By Desk TeamNo Comments
Singapore, World

Singapore, US agree on importance of COVID-19 vaccines being made available globally: MFA

SINGAPORE: Minister for Foreign Affairs Vivian Balakrishnan and US Secretary of State Mike Pompeo on Tuesday (Aug 4) agreed on the importance of ensuring that COVID-19 vaccines will be made available globally. Singapore's Ministry of Foreign Affairs (MFA) said, in a telephone call that Dr Balakrishnan received from Mr Pompeo, the two discussed collaboration in the research and development, manufacturing, and distribution of COVID-19 vaccines. They also talked about the possibility of leveraging the strong US commercial presence in Singapore, including in pharmaceuticals, said MFA in a press statement. The statement added: “Both sides welcome the new areas of bilateral cooperation in infrastructure and trade as well as customs facilitation which will increase bilateral trade and st...
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Japan to dial back entry restrictions on some foreign residents
3Aug By Desk TeamNo Comments
Singapore, World

Japan to dial back entry restrictions on some foreign residents

The Japanese government on Wednesday announced it will partially roll back entry restrictions as part of its coronavirus countermeasures on foreign nationals, allowing students and business workers with valid legal status to be gradually readmitted to the country. The rule change will affect just under 200,000 foreign nationals seeking to enter Japan. Those eligible will comprise about 103,000 permanent residents, long-term residents and spouses of Japanese nationals or permanent residents. Those permanent residents as well as long-term residents had been able to return to Japan if they had left the country before the ban was introduced or on humanitarian grounds, such as a relative’s death or a health emergency. But with this announcement, about 88,000 high-skilled workers and students ...
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Resorts World Sentosa lays off staff in cost-cutting move amid COVID-19 pandemic
2Aug By Desk TeamNo Comments
Singapore, World

Resorts World Sentosa lays off staff in cost-cutting move amid COVID-19 pandemic

SINGAPORE: Resorts World Sentosa (RWS), one of Singapore's biggest private-sector employers, said on Wednesday (Jul 15) it was laying off staff as part of cost-cutting measures in the wake of the coronavirus pandemic. The resort, which is owned by Genting Singapore, declined to say how many staff members were affected when contacted by CNA. As of the end of last year, it had more than 7,000 full-time employees. RWS said in a statement it had already "reviewed all costs", eliminated non-essential spending and cut the salaries of management by up to 30 per cent, but had to make the "difficult decision" to retrench employees. "The global COVID-19 pandemic has brought about challenging economic times globally, generating a devastating impact on the tourism industry," RWS said. "In this...
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OCBC rolls out SingPass login access for its digital banking services
1Aug By Desk TeamNo Comments
Singapore, World

OCBC rolls out SingPass login access for its digital banking services

SINGAPORE: OCBC customers can now use their SingPass to log in to their accounts with the bank, the lender said on Thursday (Jul 16). This comes after OCBC rolled out the use of SingPass Mobile app on Jul 4 as an alternative login to access its digital bank services. The bank said that it is the first lender in Singapore to enable the use of SingPass for digital banking services. It can be used to log in to OCBC's Mobile Banking app or Internet banking. In a media release, the bank said the use of SingPass to log in to OCBC's digital banking platforms eliminates the need for customers to remember multiple access codes and PINs. This will "especially benefit" customers who do not use fingerprint or facial biometrics, it said. OCBC said it has 1.8 million digital customers. HOW IT W...
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MAS revokes capital markets services licence of financial institution Apical Asset Management
31Jul By Desk TeamNo Comments
Market, Singapore, World

MAS revokes capital markets services licence of financial institution Apical Asset Management

SINGAPORE: The Monetary Authority of Singapore (MAS) has revoked the capital markets services licence of Apical Asset Management (AAMPL) on Tuesday (Jul 28). The revocation of the company's license is due to "serious breaches of MAS' anti-money laundering/countering financing of terrorism (AML/CFT) requirements", according to the authority's media release. For a company to conduct financial activities under the Securities and Futures Act, it has to hold a capital markets services (CMS) licence. 'SEVERE DEFICIENCIES' The MAS said it uncovered "severe deficiencies" in the company’s AML/CFT controls from 2013 to 2018. The financial institution did not have the relevant basic policies and procedures in place which exposed it to the "risk of receiving and/or laundering the proceeds of...
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Pakistan jolts all-weather ally China, warns its app TikTok, blocks Bigo Live
31Jul mmBy Joe RodriguezNo Comments
Asia, Singapore

Pakistan jolts all-weather ally China, warns its app TikTok, blocks Bigo Live

Pakistan has given a big jolt to the business ambition of Chinese tech firms in the country by issuing a “final warning” to video-sharing app TikTok over obscene and immoral content and blocking the Bigo Live streaming application.Such moves from Pakistan is unexpected for China, since it was Beijing which has invested billions of dollars in the country.The Pakistani establishment's unhappiness with theses Chinese social media applications is not overtly linked to security or geopolitical issues like India that banned 59 Chinese apps on security grounds.The United States is also seriously mulling a ban on TikTok, alleging that it's a front for data mining and all user data is shared with the Chinese government. TikTok is under scrutiny in Australia too for similar reasons.So even if there ...
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JB-Singapore RTS Link project signing ceremony to be held on Jul 30, says Malaysian transport minister
31Jul By Desk TeamNo Comments
Singapore, World

JB-Singapore RTS Link project signing ceremony to be held on Jul 30, says Malaysian transport minister

SINGAPORE: Malaysian Transport Minister Wee Ka Siong has confirmed that a signing ceremony will be held on Jul 30 to finalise the agreements between Singapore and Malaysia to proceed with the Rapid Transit System (RTS) Link project. In a parliamentary oral reply on Tuesday (Jul 21), Dr Wee said that the prime ministers for both countries will witness the ceremony, which will be held at the Johor-Singapore Causeway. He said that both countries have completed negotiations for the Johor Bahru-Singapore RTS Link project and are prepared to sign three agreements during the ceremony - a bilateral agreement, a concession agreement and an agreement to form a joint venture company to operate the rail line. He was responding to a question by Johor Bahru Member of Parliament Akmal Nasrullah ...
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England scraps quarantine for 50 countries – but not US
31Jul By Desk TeamNo Comments
Singapore, World

England scraps quarantine for 50 countries – but not US

LONDON: Britain will end coronavirus quarantines for people arriving in England from more than 50 countries, including Germany, France, Spain and Italy - but not the United States - the government said on Friday (Jul 3). The move, effective July 10, clears the way for millions of British tourists to take summer holidays without worrying about being quarantined when they return. Those arriving from higher risk countries will still have to self-quarantine for 14 days under a rule which has angered airlines and travel companies. Prime Minister Boris Johnson's government had debated for days how to ease the quarantine rules. Scotland, Wales and Northern Ireland, which set their own health policies within the United Kingdom, have not announced plans to lift the measures. "Today marks the...
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