Page 14 - Singapore

Super-wealthy may quit UK over Labour plans for inheritance taxes on trusts

Economists say overall tax levels are likely to approach an all-time high whoever wins the election, despite promises by both main parties not to increase major tax rates

India to clock highest growth in tech spending in 2024 in APAC: Report

Tech economy 'enjoys strong growth' due to digitisation push by central and state governments, it says

Indian gets 2-yr jail term for hacking ex-employer's system in Singapore

An Indian national was sentenced to two years and six months' jail term here for a charge of unauthorised access to computer material during which he deleted 180 virtual servers, costing his employer about SGD 918,000 (USD678,000). The sentence was pronounced on Monday. Another charge was taken into consideration for sentencing Kandula Nagaraju, 39, who was "upset" that he was fired by NCS in October 2022 due to poor work performance and his employment ended on November 16, 2022. Between November 2021 and October 2022, Kandula was part of a 20-member team managing the quality assurance (QA) computer system at NCS, a company that offers information communication and technology services. The system that Kandula's former team was managing was used to test new software and programs before launch. It consisted of about 180 virtual servers, and no sensitive information was stored on them. According to court documents, Kandula felt "confused and upset" when he was fired as he felt he had

Singapore authorities ramp up scrutiny of family offices, hedge funds

The government's push to tighten various investment regimes has accelerated since March, with agencies setting out additional requirements that must be met in the coming months

'India a big market; good to have stronger Lufthansa-Air India partnership'

India is a big aviation market and a stronger partnership between Air India and Lufthansa is good, as efforts of the Star Alliance are to bring the partners together to provide a unique value proposition for the passengers, the airline grouping's CEO Theo Panagiotoulias has said. Air India and Lufthansa are part of the Star Alliance, whose 26 member airlines come together at more than 50 global hubs to offer smooth connections across a global network. A management company, based in Frankfurt and Singapore, coordinates Star Alliance projects and activities. It includes airport co-location, digital infrastructure, frequent flyer integration and joint business lounge projects to improve the travel experience. Talking to PTI on the sidelines of IATA annual general meeting in Dubai this week, Panagiotoulias was bullish about the prospects in the Indian market that offers "so much of opportunities". "The alliance is to bring the partners together to provide a unique value proposition...

Surge in aerophobia treatment in Singapore after severe turbulence on SQ321

More people in Singapore are seeking treatment for aerophobia -- the fear of flying -- following the severe turbulence incident that struck a Singapore Airlines flight over the Irrawaddy Basin in Myanmar last month. Aerophobia can range from slight uneasiness to very severe panic attacks triggered by a thought or impending occasion of flying, according to a Channel News Asia report on Friday. While aviation experts say that flying remains among the safest forms of travel, some service providers have seen a spike in people seeking to address this fear, according to the report. On May 21, SQ321, en route from London to Singapore, encountered extreme turbulence. The Boeing 777-300ER aircraft was carrying 211 passengers and a crew of 18 when it made an emergency landing at Bangkok's Suvarnabhumi Airport. One passenger a 73-year-old British man died and dozens were injured, some of them seriously. Some SQ321 passengers painted a harrowing scene in an interview with the channel. Thos

Over $23 bn of sustainable infra projects identified at IPEF eco forum meet

As many as 69 sustainable infrastructure projects worth over USD 23 billion of investment opportunities were identified at the Indo-Pacific Economic Framework for Prosperity (IPEF) clean economy investor forum meet in Singapore, according to a statement. The statement of Singapore's ministry of trade and economy, which hosted the meet, out of the 69 projects, 20 investment-ready projects worth about USD 6 billion were presented to investors at business matching sessions. Remaining projects worth about USD 17 billion were also identified as potential investment opportunities in future. The forum brought together about 300 participants from the Indo-Pacific region's top investors, cutting-edge project proponents, innovative start-up entrepreneurs, ministers and senior government officials. The Indian delegation was led by Commerce Secretary Sunil Barthwal. Organised by Singapore's ministry alongside the 13 other IPEF partners, the forum aims to facilitate high-quality business and .

World leaders congratulate Modi ahead of third term as Prime Minister

Over 50 world leaders have congratulated Prime Minister Narendra Modi as he is set to take oath this week for a third straight term at the top office following the National Democratic Alliance's victory in the Lok Sabha polls. From India's neighbourhood and extended neighbourhood, presidents of Sri Lanka, the Maldives, Iran, Seychelles and prime ministers of Nepal, Bangladesh, Bhutan, Myanmar, Mauritius have sent congratulatory greetings to Modi. In a post on X, Singapore's Prime Minister Lawrence Wong described the victory of the NDA alliance as "historic" and said he was looking forward to working with his Indian counterpart to celebrate the 60th anniversary of diplomatic ties between the two nations next year. "Congratulations @narendramodi on the historic victory by the NDA for the third consecutive term. Look forward to working with you to deepen the Singapore-India partnership and to celebrate the 60th anniversary of diplomatic ties next year," Wong said on X. Among G20 ...

IPEF's clean economy investor forum meet in Singapore to begin on Jun 5

Senior officials from the commerce ministry will participate in the two-day clean economy investor forum meet in Singapore, organised by Indo-Pacific Economic Framework for Prosperity (IPEF), an official said. Commerce Secretary Sunil Barthwal, Additional Secretary in the ministry Rajesh Agrawal, and other senior officers have reached Singapore for the meet, which will start on June 5. "Indian projects would be pitched in the forum. Over 150 investors would participate," the official said. The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 and it currently includes 14 partners -- Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam. It provides a platform for countries in the region to collaborate on advancing resilient, sustainable and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in the region. Th

6,000 feet drop in 3 mins: Singapore Airlines flight's mid-air chaos. WATCH

A British passenger suffered a fatal cardiac arrest, and many were injured when a Singapore Airlines flight encountered severe turbulence mid-air. The plane made an emergency landing in Bangkok

Singapore economy grows 2.7%, fastest in 18 months as outlook improves

Separate data showed annual core inflation came in at 3.1 per cent in April, matching the rate in March

TN govt assures no need for panic amid new Covid wave in Singapore

The new Covid wave in Singapore is a "milder infection" and there was no need for panic and Tamil Nadu has the required infrastructure to face any situation, a top official said on Wednesday. Dr T S Selvavinayagam, Director, Directorate of Public Health and Preventive Medicine (DPHPM), said "there has been no significant (hospital) admissions" in Singapore following the outbreak. "In the last few weeks, it is being reported that there are Covid cases in South Asian countries like Singapore. As far as we (TN) are concerned, there is no need for any apprehension...the Singapore variant, KP.2 is a sub variant of Omicron and has been reported in some parts of India," he said. As many as 290 cases of KP.2 and 34 cases of KP.1, both sub-lineages of Covid-19 that are responsible for surge in cases in Singapore, have been found in India, according to official data. In a video released by the DPHPM, Selvavinayagam said the variant has been "so far giving only milder infection, no severe ...

Singapore Airlines says 'sorry' after flight turbulence kills 1, injures 71

Chief of Singapore Airlines Goh Choon Phong confirmed the airline's full cooperation with the authorities throughout the ongoing investigations and expressed his condolences to the victim's family

Pine Labs gets approval from Singapore court to relocate base to India

Pine Labs' decision to shift domicile follows a broader trend among fintech firms like PhonePe and Groww, which have also moved their bases back to India

Over 25,000 new Covid cases in Singapore, minister advises wearing masks

Singapore is seeing a new COVID-19 wave as the authorities recorded more than 25,900 cases from May 5 to 11 even as Health Minister Ong Ye Kung on Saturday advised the wearing of masks again. We are at the beginning part of the wave where it is steadily rising, said Ong. So, I would say the wave should peak in the next two to four weeks, which means between mid- and end of June, The Straits Times newspaper quoted the minister as saying. The Ministry of Health (MOH) said the estimated number of COVID-19 cases in the week of May 5 to 11 rose to 25,900 cases, compared with 13,700 cases in the previous week. The average daily COVID-19 hospitalisations rose to about 250 from 181 the week before. The average daily intensive care unit (ICU) cases remained low at three cases, compared with two cases in the previous week. The MOH said that to protect hospital bed capacity, public hospitals have been asked to reduce their non-urgent elective surgery cases and move suitable patients to ...

Indian-origin man in Singapore charged for cheating staff of Prez, Parl

An Indian-origin man faces three counts of cheating by personation staff at the President's Office, the Ministry of National Development and Parliament. Prakash Paramasivam, 24, who appeared in the court on May 17, allegedly posed as a Singapore Prison Service staff member to send emails to President Tharman Shanmugaratnam, National Development Minister Desmond Lee and to the Parliament. He allegedly e-mailed the Parliament on February 16 and Lee two days later, followed by another email sent to President Tharman on Feb 24, according to a report by The Straits Times. Court documents did not disclose the contents of the e-mails or why Prakash allegedly sent them. His case will be mentioned again in court on June 20. For each count of cheating by personation, an offender can be jailed for up to five years and fined.

Spices industry urges immediate action to address food safety concern

Last year, India exported spices to the tune of 1.426 million tonnes valued at approximately $4.2 billion, AISEF said

Ex-PM Lee lauds SICCI for aiding Singapore firms in Indian market outreach

The Singapore Indian Chamber of Commerce and Industry (SICCI) has helped strengthen economic links between Singapore and India by providing local firms with market outreach and advisory on the Indian market, former Prime Minister Lee Hsien Loong has said. These efforts have helped us to benefit from India's tremendous growth potential, Lee said in a farewell letter to the SICCI after relinquishing the premiership on Wednesday in a political leadership renewal process of the People's Action Party which has ruled the prosperous city-state for six decades. He noted SICCI's significant contribution to Singapore's economic growth, highlighting, You helped many local Indian firms grow their businesses through transformation, innovation, and overseas expansion. SICCI has also been a close partner of the government, providing valuable feedback on government policies, said Lee who led Singapore for 20 years and now sits as a senior minister in the Cabinet headed by Lawrence Wong -- sworn in

Wong to be sworn in as Singapore's PM as Loong bows out after 20 years

Singapore's deputy leader Lawrence Wong is set to be sworn in Wednesday as the nation's fourth prime minister in a carefully planned political succession designed to ensure continuity and stability in the Asian financial hub. A US-trained economist, Wong (51), succeeds Lee Hsien Loong (72), who stepped down after two decades at the helm. Lee's resignation marked the end of a family dynasty led by his father Lee Kuan Yew, Singapore's charismatic first leader who built the colonial trading outpost into a business-friendly, affluent country during 31 years in office. Wong, a civil servant turned politician, came to prominence while coordinating Singapore's successful fight against COVID-19. But he wasn't the first choice for the top job. Heng Swee Keat, a former central bank chief and education minister, was the anointed successor but he withdrew his nomination in 2021. Wong was then picked by the ruling People's Action Party in 2022 to fill the vacuum and was quickly promoted to deput

Singapore airport retailer to run duty-free stores at Noida airport

Heinemann will run duty-free stores at Noida International Airport, while BWC Forwarders will manage domestic retail and international duty-paid retail