Headline News In 60 Seconds Daily 2025-07-16T08:01:19.784Z
ILovehead6.9 Head NewsShare
- 🌍 Singapore Tops List Again: World's Most Expensive Cities for HNWIs Singapore maintains its position as the most expensive city for high-net-worth individuals (HNWIs), according to the latest report by Julius Baer Group. Released on October 2023, Hong Kong now ranks third.
- 💰 Singapore's $3B Scandal Highlights Major Compliance Failures In September 2023, the Monetary Authority of Singapore fined DBS Bank and other financial entities for anti-money laundering lapses. Baran Ozkan, the compliance head, resigned due to inadequate oversight. The lapse involved $3 billion in illicit transactions linked to several shell companies across Southeast Asia.
- 📉 Insurance Uptake Drops in Singapore Amid Rising Costs Insurance uptake in Singapore has declined significantly, with a report from Insurance Asia dated September 2023 indicating a 15% drop in policy purchases over the past year. The increase in premium costs, fueled by inflation and higher claims, has deterred many potential buyers. Specifically, health insurance premiums have risen by an average of 10%, according to data from the Singapore Insurance Institute. Major insurers are revising their strategies as affordability becomes a barrier for many Singaporeans.
- 🔍 Jones Day Expands: New Partner Strengthens Singapore Disputes Bench with Expertise On May 8, 2023, Jones Day appointed Kay-Jannes Wegner as a partner in Singapore's disputes team. Previously with Kim & Chang in Seoul, Wegner brings significant experience in international arbitration.
- ⛽ Weak Bunker Margins Impact Singapore Shipping: Suppliers Reduce Fleets, Reports Say Bunker fuel suppliers in Singapore, including Titan Petrochemicals Group, have reduced their shipping fleets due to poor profit margins. The move, observed in July 2023, aims to cut operational costs amidst challenging market conditions.
- 🌟 Singapore Stocks Surge: Undervalued Gems Offer Promising Returns for Investors CapitaLand China Trust, HRnetGroup, and The Hour Glass are highlighted as undervalued stocks in Singapore, showing potential for growth in 2023 through strategic expansion, strong revenue performance, and capital management initiatives.
- ✈️ Air India Crash Precaution: SIA Completes Boeing 787 Fuel Switch Checks Singapore Airlines finishes precautionary inspections on Boeing 787 fuel control switches following an Air India crash. The detailed safety checks were concluded on June 28, 2023, ensuring operational safety.
- 🇸🇬 ICS Sets Foot in Singapore: New Office Announcement Bolsters Asian Maritime Presence The International Chamber of Shipping (ICS) will establish a regional office in Singapore on November 15, 2023. This expansion aims to strengthen its influence across Asia, with Guy Platten, ICS Secretary General, highlighting Singapore's strategic importance.
- 🎂 Mahathir Mohamad's Centennial: Former Malaysian Prime Minister celebrates 100th birthday amid regional highlights Mount Fuji rescue on December 9, 2023, involved a perilous operation saving 12 stranded climbers in Japan. Concurrently, Mahathir Mohamad, Malaysia's prominent ex-Prime Minister, notably turned 100.
- 🎰 Singapore's Toto Jackpot Hits $10m: Excitement Grows as No Winner Found on 14 July The Singapore Pools Toto jackpot has snowballed to $10 million after no winning ticket emerged on 14 July 2023. The prize, initially set for a lower amount, increased due to the absence of a top-tier winner. The next draw will see gamblers vying for the massive prize, with excitement building as hopeful participants assess their potential fortunes.
- 🔍 Singapore Targets Money Launderers: Directorships at Risk as New Law Proposed Singapore's Ministry of Finance and Ministry of Law proposed a law on 4 October 2023 to revoke directorships of individuals convicted abroad for serious tax crimes. This move aims to reinforce corporate accountability.
- 🏦 NTT Debuts Data Center REIT in SGX with Subdued Trading NTT launched its data center real estate investment trust on October 10, 2023, in Singapore Exchange with initial shares priced at S$2.50. Despite anticipation, the trading was subdued with minimal fluctuations, reflecting investor cautiousness amidst the volatile global market.
- 🏠 Singapore Home Sales Sag: Private transactions dip to six-month low ahead of impending regulations In June 2025, Singapore's private home sales fell to a six-month low, with 650 units sold, compared to 750 in May. This decline occurred before new property curbs were expected.
- 🛫 T5 Projects Ignite Hope for Singapore's Engineering Future Singapore's civil engineering sector is buzzing with optimism due to the Changi Airport Terminal 5 (T5) project, as announced on September 24, 2022. This mega project is expected to create numerous jobs and bolster economic growth, with completion targeted for the mid-2030s.
- 🚫 Singapore to Bar Money Laundering Offenders from Becoming Company Directors In an effort to curb financial crimes, Singapore announced on 4th October 2023 that individuals involved in money laundering, like the 2023 scandal involving over S$1 billion, will be banned from director positions within companies.
- ✈️ Green Skies Ahead: Neste to Provide Sustainable Aviation Fuel to DHL in Landmark Changi Airport Deal Neste will deliver sustainable aviation fuel (SAF) to DHL Express at Singapore's Changi Airport starting in mid-2023, marking one of Asia's largest SAF agreements. This collaboration highlights Neste's ongoing commitment to reducing aviation emissions.
- 💸 Singapore Tops Luxury Expense Chart: London Overtakes Hong Kong in High-End Spending Singapore now holds the title of the world's priciest city for luxury spending, as reported by Singapore-based real estate company Knight Frank on October 18, 2023, with London surpassing Hong Kong for second place.
- 🚀 RTX Unveils Collins Aerospace Facility in Singapore With Advanced Manufacturing RTX launched a new Collins Aerospace facility in Singapore on October 25, 2023, featuring a flexible manufacturing system. The facility aims to enhance operational efficiency and support regional aviation services.
- 🌟 NTT DC REIT's Stable IPO: Singapore Listing Sees Modest Gains NTT Urban Development's DC REIT held steady after its Singapore IPO on July 15, 2025. Priced at S$1.09, the shares saw limited trading, reflecting cautious market sentiment despite favorable sector dynamics.
- 💼 MinLaw Targets Firms in Billion-Dollar Money Laundering Case; Singapore Intensifies Vape Crackdown Singapore's Ministry of Law is scrutinizing entities allegedly involved in a billion-dollar laundering scheme. On 27 September 2023, authorities seized assets and imposed stricter regulations on vape sales, tackling drug-infused variants.
- 🌍 Singapore Tops List Again: World's Most Expensive Cities for HNWIs Singapore maintains its position as the most expensive city for high-net-worth individuals (HNWIs), according to the latest report by Julius Baer Group. Released on October 2023, Hong Kong now ranks third.
- 💰 Singapore's $3B Scandal Highlights Major Compliance Failures In September 2023, the Monetary Authority of Singapore fined DBS Bank and other financial entities for anti-money laundering lapses. Baran Ozkan, the compliance head, resigned due to inadequate oversight. The lapse involved $3 billion in illicit transactions linked to several shell companies across Southeast Asia.
- 📉 Insurance Uptake Drops in Singapore Amid Rising Costs Insurance uptake in Singapore has declined significantly, with a report from Insurance Asia dated September 2023 indicating a 15% drop in policy purchases over the past year. The increase in premium costs, fueled by inflation and higher claims, has deterred many potential buyers. Specifically, health insurance premiums have risen by an average of 10%, according to data from the Singapore Insurance Institute. Major insurers are revising their strategies as affordability becomes a barrier for many Singaporeans.
- 🔍 Jones Day Expands: New Partner Strengthens Singapore Disputes Bench with Expertise On May 8, 2023, Jones Day appointed Kay-Jannes Wegner as a partner in Singapore's disputes team. Previously with Kim & Chang in Seoul, Wegner brings significant experience in international arbitration.
- ⛽ Weak Bunker Margins Impact Singapore Shipping: Suppliers Reduce Fleets, Reports Say Bunker fuel suppliers in Singapore, including Titan Petrochemicals Group, have reduced their shipping fleets due to poor profit margins. The move, observed in July 2023, aims to cut operational costs amidst challenging market conditions.
- 🌟 Singapore Stocks Surge: Undervalued Gems Offer Promising Returns for Investors CapitaLand China Trust, HRnetGroup, and The Hour Glass are highlighted as undervalued stocks in Singapore, showing potential for growth in 2023 through strategic expansion, strong revenue performance, and capital management initiatives.
- ✈️ Air India Crash Precaution: SIA Completes Boeing 787 Fuel Switch Checks Singapore Airlines finishes precautionary inspections on Boeing 787 fuel control switches following an Air India crash. The detailed safety checks were concluded on June 28, 2023, ensuring operational safety.
- 🇸🇬 ICS Sets Foot in Singapore: New Office Announcement Bolsters Asian Maritime Presence The International Chamber of Shipping (ICS) will establish a regional office in Singapore on November 15, 2023. This expansion aims to strengthen its influence across Asia, with Guy Platten, ICS Secretary General, highlighting Singapore's strategic importance.
- 🎂 Mahathir Mohamad's Centennial: Former Malaysian Prime Minister celebrates 100th birthday amid regional highlights Mount Fuji rescue on December 9, 2023, involved a perilous operation saving 12 stranded climbers in Japan. Concurrently, Mahathir Mohamad, Malaysia's prominent ex-Prime Minister, notably turned 100.
- 🎰 Singapore's Toto Jackpot Hits $10m: Excitement Grows as No Winner Found on 14 July The Singapore Pools Toto jackpot has snowballed to $10 million after no winning ticket emerged on 14 July 2023. The prize, initially set for a lower amount, increased due to the absence of a top-tier winner. The next draw will see gamblers vying for the massive prize, with excitement building as hopeful participants assess their potential fortunes.
- 🔍 Singapore Targets Money Launderers: Directorships at Risk as New Law Proposed Singapore's Ministry of Finance and Ministry of Law proposed a law on 4 October 2023 to revoke directorships of individuals convicted abroad for serious tax crimes. This move aims to reinforce corporate accountability.
- 🏦 NTT Debuts Data Center REIT in SGX with Subdued Trading NTT launched its data center real estate investment trust on October 10, 2023, in Singapore Exchange with initial shares priced at S$2.50. Despite anticipation, the trading was subdued with minimal fluctuations, reflecting investor cautiousness amidst the volatile global market.
- 🏠 Singapore Home Sales Sag: Private transactions dip to six-month low ahead of impending regulations In June 2025, Singapore's private home sales fell to a six-month low, with 650 units sold, compared to 750 in May. This decline occurred before new property curbs were expected.
- 🛫 T5 Projects Ignite Hope for Singapore's Engineering Future Singapore's civil engineering sector is buzzing with optimism due to the Changi Airport Terminal 5 (T5) project, as announced on September 24, 2022. This mega project is expected to create numerous jobs and bolster economic growth, with completion targeted for the mid-2030s.
- 🚫 Singapore to Bar Money Laundering Offenders from Becoming Company Directors In an effort to curb financial crimes, Singapore announced on 4th October 2023 that individuals involved in money laundering, like the 2023 scandal involving over S$1 billion, will be banned from director positions within companies.
- ✈️ Green Skies Ahead: Neste to Provide Sustainable Aviation Fuel to DHL in Landmark Changi Airport Deal Neste will deliver sustainable aviation fuel (SAF) to DHL Express at Singapore's Changi Airport starting in mid-2023, marking one of Asia's largest SAF agreements. This collaboration highlights Neste's ongoing commitment to reducing aviation emissions.
- 💸 Singapore Tops Luxury Expense Chart: London Overtakes Hong Kong in High-End Spending Singapore now holds the title of the world's priciest city for luxury spending, as reported by Singapore-based real estate company Knight Frank on October 18, 2023, with London surpassing Hong Kong for second place.
- 🚀 RTX Unveils Collins Aerospace Facility in Singapore With Advanced Manufacturing RTX launched a new Collins Aerospace facility in Singapore on October 25, 2023, featuring a flexible manufacturing system. The facility aims to enhance operational efficiency and support regional aviation services.
- 🌟 NTT DC REIT's Stable IPO: Singapore Listing Sees Modest Gains NTT Urban Development's DC REIT held steady after its Singapore IPO on July 15, 2025. Priced at S$1.09, the shares saw limited trading, reflecting cautious market sentiment despite favorable sector dynamics.
- 💼 MinLaw Targets Firms in Billion-Dollar Money Laundering Case; Singapore Intensifies Vape Crackdown Singapore's Ministry of Law is scrutinizing entities allegedly involved in a billion-dollar laundering scheme. On 27 September 2023, authorities seized assets and imposed stricter regulations on vape sales, tackling drug-infused variants.
