Category: Business

Opposition Leader Calls for Alternative Revenue Streams InsteadIn Parliament on Monday (Feb 28), Leader of the Opposition Pritam Singh expressed the Workers’ Party's opposition to the planned Goods and Services Tax (GST) hike, stating that they would contest Budget 2022. Several WP MPs, including He Ting Ru, Louis Chua, and Jamus Lim, who is an …

Ministry of Manpower Enforces Strict Measures Against Unethical Employment PracticesSINGAPORE: The Ministry of Manpower (MOM) has taken enforcement action against an average of 102 employers each year for collecting kickbacks from migrant workers between 2016 and 2020, Senior Minister of State for Manpower Koh Poh Koon informed Parliament on Tuesday (Mar 1).On average, each offending …

ACRA Takes Action Against SGCN Link and Its Director for Compliance FailuresSINGAPORE: The Accounting and Corporate Regulatory Authority (ACRA) has cancelled the registration of SGCN Link and its sole director and shareholder, Lew Chian Hwa, due to their failure to implement enhanced measures to combat money laundering and terrorism financing risks during the incorporation of …

Police Crack Down on Scam, Reassure Public on Safety MeasuresSingapore — The Police announced on Sunday (Feb 20) that 13 individuals have been arrested in relation to the recent OCBC phishing scam, which targeted 790 victims and resulted in total losses of S$13.7 million. Among those arrested, seven have now been formally charged.The group includes …

Homebuyers should prepare for continued increases in real estate costs.SINGAPORE — If you're planning to purchase property this year, be ready to spend more than before. Despite price hikes over the past two years and government measures aimed at cooling the market, real estate agents and industry analysts anticipate that property prices will keep climbing …

Major Upgrades Planned for Iconic Singapore ResortSINGAPORE: The much-anticipated US$3.3 billion expansion of Marina Bay Sands is now scheduled for completion in 2026, extending the timeline by a year from the original target of 2025, as announced by parent company Las Vegas Sands.In addition, a significant US$1 billion (S$1.35 billion) renovation of the hotel properties …

Unemployment Remains Low, but Business Restructuring Leads to Increased Job LossesSINGAPORE — Employment in Singapore saw continued growth in the last quarter of the previous year, marking the fifth consecutive quarter of increases, according to the Ministry of Manpower (MOM) in its Labour Market Advance Release 2022, published on January 31. Additionally, unemployment levels remained …

New agreements bolster bilateral cooperation in civil aviation, extradition, and defense.BINTAN: The recently signed Flight Information Region (FIR) Agreement between Singapore and Indonesia aims to enhance air traffic control safety while facilitating the long-term growth of Changi Airport as an international air hub, Prime Minister Lee Hsien Loong stated on Tuesday (Jan 25).Speaking to reporters …

Rising Airfares and Services Inflation Contribute to Increased Cost of Living ConcernsSINGAPORE: Singapore’s core inflation rose to 2.1% in December on a year-on-year basis, up from 1.6% in November, according to official data released on Monday (Jan 24).This increase was primarily driven by higher services inflation, notably a significant rise in airfares reflecting the increased …

Court's Ruling Marks Significant Step in Investigating One of History's Largest Financial FraudsSingapore — The Wirecard scandal, one of the most significant financial frauds in recent history, unfolded when the fintech company filed for insolvency in 2020, with €1.9 billion (SGD 2.9 billion) mysteriously vanishing and its CEO being terminated and arrested.The company's Singapore office …