Sea Ltd’s Investment Arm, Sea Capital, to Wind Down Operations amid Challenging Investment Landscape Sea Ltd, a leading global consumer internet company based in Singapore, has announced that it is winding down its investment arm, Sea Capital, amid a cooling investment environment globally. The arm stopped new equity investing in…
Singapore’s Prime Minister Lee Hsien Loong has tested positive for COVID-19 for the second time in less than two weeks, in a rare case of a rebound. He announced the news on his Facebook page on Thursday (Jun 1), saying he feels fine but has to self-isolate until he tests…
The upcoming Shangri-La Dialogue, a prominent security meeting in Asia, is poised to be overshadowed by escalating tensions between the United States and China. The event, scheduled to take place from June 2-4 in Singapore, attracts high-ranking defence officials, military officers, diplomats, and security analysts from around the world. However,…
Singapore’s Economy Surpasses Initial Estimates, Grows by 0.4% in Q1 2023 Singapore’s economy displayed resilience in the first quarter of 2023, exceeding initial projections with a year-on-year growth of 0.4%. Official data released on Thursday revealed this positive development, surpassing the advanced estimate of 0.1% released the previous month. However, on a quarter-on-quarter basis, the economy contracted by 0.4%, indicating a reversal from the 0.1% growth observed in the fourth…
Singapore experienced a surge in Covid-19 fatalities last month, even as the number of new cases declined. According to the latest data from the Ministry of Health, 54 people succumbed to the virus in April, almost twice as many as the 30 deaths recorded in the first quarter of 2023. Current wave of infections peaked in March The current wave of infections, which started in late February, reached its peak…
South Korean Woman Sentenced to Jail for Theft in Singapore A South Korean woman, Song Hayan, has been sentenced to six months’ imprisonment in Singapore after pleading guilty to stealing S$29,000 from her travel partner’s hotel room and squandering it at a casino. The incident unfolded when Song, 31, was on holiday with her 30-year-old friend in Singapore. They initially stayed in a different hotel before relocating to Marina Bay…
Hawkish Fed Remarks Boost U.S. Dollar and Treasury Yields The U.S. dollar experienced a significant surge, reaching a two-month high on Tuesday, driven by higher Treasury yields. The rally was fueled by hawkish comments from Federal Reserve officials, signaling the possibility of further interest rate hikes. Regional Fed Presidents James Bullard and Neel Kashkari highlighted the potential need for continued rate increases if inflation remains elevated. According to Edward Moya, senior market analyst at OANDA in New York, the market…
Rachael De Foe Starts Her Own Communications Company to Fill Industry Gap Singaporean professional Rachael De Foe has emerged as a prominent figure in the communications industry, earning a spot in Forbes’ esteemed 30 Under 30 Asia list. Frustrated with limited career options, the 28-year-old entrepreneur took matters into her own hands and founded Redefy, a strategic communications practice, in 2020. De Foe’s recognition stems from her exceptional ability to navigate the unique public relations needs of start-ups and venture…
Singapore Aims to Maintain Friendship with Both Major Powers and Act in National Interest Singapore’s Deputy Prime Minister, Lawrence Wong, has stated that it would be challenging for the United States and China to revert to their previous relationship. In light of this new era of great-power rivalry, he emphasized that Singapore’s best approach is to continue acting in a credible and principled manner aligned with its national interests. By doing so, Singapore can establish itself as a reliable and…
Niger President Extends Invitation to Sahel-Saharan States Summit The President of Niger, Mohammed Bazoum, has extended a cordial invitation to the head of the Presidential Council, Mohammed Menfi, to attend the upcoming 13th summit of the Community of Sahel-Saharan States. The prestigious summit is scheduled to take place in Niamey next June, bringing together leaders from across the region to discuss crucial matters of mutual interest. Bilateral Cooperation Strengthened through Diplomatic Invitation In a gesture of diplomatic goodwill and cooperation,…
Unprecedented Heatwaves Linked to Climate Change Record-breaking heatwaves struck South and Southeast Asia in April, inflicting scorching temperatures that soared above 40 degrees Celsius (104 Fahrenheit). The sweltering conditions in Bangladesh, Thailand, and Laos wreaked havoc on infrastructure, triggered power shortages, and led to a surge in heat stroke cases. A team of international scientists from the World Weather Attribution group has now revealed that these extreme heat events were made “30 times more likely” due to human-induced climate change.…
Online fashion retailer Shein secures $2 billion in recent funding round In a move that highlights the ongoing dynamism of the e-commerce sector, Shein, the online fashion giant, has raised $2 billion in its latest fundraising round. However, this infusion of capital comes with a valuation that is approximately one-third less than its previous valuation. Shein’s recent fundraising reflects the confidence of investors in the company’s potential for future growth. This injection of funds is expected to provide a significant…
Singapore and South Africa have reaffirmed their commitment to collaboration in the information and communications technology (ICT) sector and human capital development. In a welcome ceremony at Tuynhuys, South Africa’s presidential office, Prime Minister Lee Hsien Loong and South African President Cyril Ramaphosa witnessed the signing of two memorandums of understanding in these strategic areas. The historic 18th-century office, built during the Dutch East India Company era, provided the backdrop for PM Lee’s reception by President Ramaphosa. Accompanied by a…
On Wednesday, Singapore executed a man for drug trafficking, marking the city-state’s second execution in just three weeks. Despite international calls to abolish the death penalty, Singapore continues to enforce some of the world’s toughest anti-narcotics laws. Trafficking more than 500 grams of cannabis can lead to a death sentence in Singapore. The man was convicted in 2019 for trafficking around 1.5 kilos (3.3 pounds) of cannabis. Full Due Process and Family Privacy Respected According to the city-state’s prison service,…
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