Headline News In 60 Seconds Daily 2026-02-27T08:01:17.495Z

• 🧣 **Shein's Strategic Shift: Singapore-Based Retailer Reclaims Chinese Heritage Amid Global Market Pressures** Shein, originally from China and recently based in Singapore, has reverted its strategy to emphasize its Chinese roots. This decision comes after facing scrutiny and competitive global markets, marking a significant U-turn from its previous attempts to appear less Chinese. CEO Chris Xu's decision on this strategic shift highlights the challenges faced by the company in the international retail landscape as of October 2023.
• 📚 MOE Postpones AI for Young Students, URA Lists Two Prime Singapore Condo Sites On October 11, 2023, the Singapore Ministry of Education (MOE) announced a review of AI's classroom impact, delaying AI usage for younger students. Concurrently, the Urban Redevelopment Authority (URA) listed residential plots in Holland Plain and River Valley for sale.
• 📈 Leadership Shift: Han Wei Fong Takes Helm as WTW's Singapore Country Head Willis Towers Watson (WTW) appointed Han Wei Fong as Singapore country leader on September 25, 2023. Fong joined WTW in 2008 and was previously Head of Corporate Risk and Broking.
• 🏖️ Ninja Lab Unveils Singapore's First Beachfront Obstacle Course in Sentosa This March Ninja Lab, in collaboration with Sentosa Development Corporation, is launching Singapore’s first beachfront obstacle course at Palawan Beach on March 11, 2023. This unique attraction features challenging courses designed for all ages.
• 🚴‍♂️ Deliveroo Bids Farewell: Exits Singapore After 11 Years Deliveroo announced on 3 October 2023 its departure from Singapore due to insufficient market share and lack of sustainable investment. The London-based company will cease operations by 30 October 2023.
• 🚕 ComfortDelGro Cabby Fired for Dangerous Driving Incident ComfortDelGro cabby, Mr. Michael Liew, was dismissed following an incident on September 26, 2023, where he drove with a passenger door open near Raffles City, Singapore. After multiple complaints, the taxi company took immediate action, prioritizing passenger safety. No casualties were reported, and the company emphasized its zero-tolerance policy for such behavior.
• 🌐 Digital Realty Boosts Global Innovation: Singapore, Japan, and London Labs to Drive AI and Hybrid Cloud Digital Realty opens new innovation labs in Singapore, Japan, and London as part of its global expansion strategy. This move, announced by CEO A. William Stein on February 26, 2026, aims to enhance AI and hybrid cloud solutions, further solidifying Digital Realty's position as a leader in data center services.
• 🚑 **Singapore Heroic Rescue: Friend Saves Young Boy from Drowning in Kallang River** On October 5, 2023, 8-year-old Enzo fell into the Kallang River in Singapore. His friend, Christopher, attempted to rescue him but both struggled until passersby intervened. Emergency services were alerted around 4:30 pm, leading to a swift rescue operation.
• ✈️ Qantas Expands in Asia: Singapore to Host First Overseas Cabin Crew Base Starting September 2023, Qantas will establish its first cabin crew base outside Australia in Singapore, with plans to employ 300 crew initially and 650 in five years.
• 🚨 Singapore Vaping Bust: Man Sentenced for Etomidate-Laced Vape Pods On September 1, 2023, Tan Kok Hwee was sentenced to 20 months in jail by the Singapore State Courts. He was caught with over 3,000 etomidate-laced vape pods illegally imported into Singapore, valued at more than $205,000.
• 📈 Syfe Introduces JPMAM Active ETF Portfolio in Singapore Syfe launched a new portfolio in Singapore featuring six JPMorgan Asset Management (JPMAM) active ETFs. The milestone marks the company's collaboration with JPMAM, aiming to provide diverse investment opportunities.
• 📈 Economists Bullish on Singapore's Growth: 2026 Forecast Raised to 3.6%, MAS Expected to Hold in April In a September 2023 survey conducted by the Monetary Authority of Singapore (MAS), economists have raised Singapore's 2026 GDP growth forecast from 2.9% to 3.6%. The majority of economists surveyed anticipate that the MAS will maintain its current monetary policy stance in April 2024.
• 💼 HSBC's Insurance Exit: Singapore Business Targets US$1 Billion Sale HSBC aims to sell its Singapore insurance division, potentially fetching over US$1 billion. Initiated in October 2023, the sale aligns with HSBC's strategic shift, with unnamed sources revealing the valuation goal.
• 📉 Sharp Decline in Traineeship Applications: Singapore Sees 90% Drop Among Fresh Graduates In 2020, Singapore implemented the SGUnited Traineeships Programme amid COVID-19 to aid fresh graduates. Recent figures show a striking 90% decrease in applications, reflecting changing job market dynamics and graduates' preferences.
• 🎣 **Missing Boy at Kallang River: Mother Questions Son's Lack of Fishing Experience** On May 5, 2023, Justin Zhang, a 17-year-old boy, went missing at Kallang River, Singapore, after heading there allegedly to fish, despite having no prior fishing experience. His mother, Mdm Chen, expressed disbelief and concern over his lack of familiarity with the activity. The Straits Times reported ongoing search and rescue operations involving the Singapore Civil Defence Force, which had yet to find substantial leads as of the recent update.
• 💳 ONERWAY Secures Payment Licence from MAS: Easing Cross-Border Payments in Singapore ONERWAY Singapore obtained a Major Payment Institution License from the Monetary Authority of Singapore (MAS) on October 12, 2023. This license allows the company to offer cross-border money transfer services officially.
• 🍽️ Deliveroo's Singapore Setback: Deliveroo exits Singapore market in November 2022, as fierce competition from rivals like Grab and Foodpanda reshapes the city's S$700 million food delivery industry. Deliveroo officially ceased operations in Singapore on November 30, 2022. The decision followed intense competition from larger players like Grab and Foodpanda, who dominate the city's S$700 million food delivery market. Deliveroo's withdrawal highlights the challenges faced by smaller companies in sustaining operations amidst growing competition and shifting consumer preferences.
• 🔒 Singapore's Cybersecurity Challenge: Phishing and Updates Remain Crucial for Defense A survey by Cybersecurity Agency Singapore in July 2023 revealed 60% of organizations faced phishing threats. Keeping software updated has saved companies an average of $300,000 annually in breach costs.
• 🌐 People's Power Party Website Compromised: Foreign Entity Seizes Control, Leadership Unaware of Culprit Goh Meng Seng, chief of People's Power Party (PPP), reported on October 13, 2023, that the party's website was taken over by an unnamed foreign entity. The suspicious change was discovered when the website was allegedly used to promote online gambling. PPP is collaborating with authorities to identify the perpetrators and restore control. Seng emphasized the party's non-involvement, labeling the incident a severe cybersecurity breach.
• 🌱 S’pore Stays Firm on Climate Goals: Emphasizes Cross-Border Solutions with Carbon Credits, says DPM Gan Deputy Prime Minister Lawrence Wong, at a climate conference in Singapore on October 6, announced the nation's intent to collaborate with international partners for carbon credit solutions, aiming to offset domestic emissions.

Get 10% off our leather bags when you register as a member. Register now! Use discount Code LeatherBag10