Cost of renting surges in Singapore and other global cities; Economists expect 3.6% growth for Singapore’s economy in 2024: Singapore live news

SMRT announced the extension of the operating hours of selected train and bus services for Christmas Eve (24 Dec) and New Year’s Eve (31 Dec).

The extensions will help commuters returning from late-night celebrations, offering more time to travel home on the North-South Line (NSL), East-West Line (EWL), Circle Line (CCL) and Thomson-East Coast Line (TEL).

Trains on these lines will run until the early hours of the following mornings.

For Christmas Eve, the last EWL train from City Hall to Pasir Ris will depart at 1.21am, while trains on the NSL will depart at 1.15am from Orchard.

Similarly, on New Year’s Eve, the final train services will be at 2.15am for some lines, including the NSL and EWL. The last CCL train will depart at 1.41am, and the Thomson-East Coast Line will have trains running until 2:00am.

In addition to the extended train services, SMRT will also extend several bus routes across key interchanges.

Bus services at Choa Chu Kang, Woodlands Integrated Transport Hub, and Bukit Panjang will operate until around 3.25am on both nights.

For example, bus services 300, 301, and 983A from Choa Chu Kang will depart at 2.15am on Christmas Eve and 3.25am on New Year’s Eve.

A new civil nuclear cooperation agreement between the United States and Singapore has officially entered into force Thursday (12 Dec).

Known as the "123 Agreement," the deal paves the way for increased collaboration in nuclear energy technologies, while upholding international safety, security, and nonproliferation standards.

Although Singapore has yet to make a decision on nuclear energy deployment, the agreement opens opportunities for cutting-edge technologies like small modular reactors, which could support the country's efforts toward net-zero emissions by 2050.

The 123 Agreement enables Singapore to engage with US nuclear experts and gain access to the latest developments in advanced nuclear technologies.

Notably, the deal will help Singapore evaluate whether such technologies can be part of its broader clean energy strategy.

US Secretary of State Antony Blinken and Singapore’s Foreign Minister Vivian Balakrishnan signed the agreement during Blinken's visit to Singapore in July 2024, underscoring the importance of bilateral collaboration on energy and climate change issues.

The agreement also strengthens Singapore's role in global nuclear safety discussions.

With the support of the US Nuclear Regulatory Commission and the National Environment Agency, Singapore has been enhancing its nuclear safety capabilities, participating in workshops and training sessions.

This partnership is part of Singapore's broader push to explore various clean energy options as it works to decarbonise its power sector.

While Singapore has not decided whether to deploy nuclear energy, the agreement lays the foundation for future exploration.

Singaporean families are increasingly sending their children to Islamic international schools in Johor, Malaysia, where they can access an English-language curriculum infused with Islamic teachings.

Schools like Idrissi and Mount Safa offer a well-rounded education, blending the Cambridge curriculum with Islamic studies in English, attracting families who seek an alternative to Singapore’s limited madrasah intake.

Johor’s international schools provide a flexible and accessible alternative, combining academic rigour with sports, personal development and leadership training.

Parents are drawn to the relaxed, yet structured, learning environments and the emphasis on lifelong skills beyond academic qualifications.

Read on why Singaporean students are opting for Islamic education in Johor here.

Privacy concerns have been raised after users discovered that NRIC numbers of business affiliates are easily accessible on the ACRA Bizfile portal.

The Bizfile portal, designed for business registration and filings, allows users to search for people associated with businesses, revealing full personal details, including NRIC numbers.

This has raised alarms about identity theft and data misuse, especially in light of recent scam cases where fraudsters obtained personal details to hijack bank accounts.

Although ACRA justifies the practice for business transparency, there are growing fears about the misuse of sensitive data.

A review of the issue is ongoing, with critics urging stricter data protection.

An online debate erupted between a Singaporean author and an American tourist when the former claimed that Singapore surpasses Malaysia in every way, from food to public services.

The war of words started when Twitter user @AJA_Cortes, an American, praised Malaysia for its high English proficiency, affordable healthcare, family-friendly culture, and "S-tier" food.

He highlighted the safety, honesty, and accessibility of the country, describing it as an ideal destination for tourists and locals alike.

But when Singaporean writer Kit Sun Cheah responded, claiming Singapore did it better, the battle began.

Cheah, a science fiction author and a well-known figure in Singapore's online space, didn’t mince his words.

“Everything Malaysia has, Singapore does better,” he wrote, citing superior English standards, food, parks, and an absence of corruption.

He did concede that Malaysia had the edge on affordability and family culture but remained firm that Singapore excelled overall.

Malaysians quickly came to their country’s defence, particularly on food.

Many pointed out that Singapore imports ingredients like durians and chickens from Malaysia, questioning the superiority of Singapore's food scene.

“Singaporeans often come to Johor to buy petrol,” one user quipped, hinting at Singapore's higher living costs.

A few even pushed back on Cheah’s comments about public transport, calling it out as a challenge for Malaysia, while others emphasised Malaysia’s rich cultural diversity and affordable prices.

The debate didn’t stop at food and transport. Malaysian netizens argued that English in Kuala Lumpur was often spoken better than in Singapore due to the blend of Malay and English spoken in Malaysia’s capital.

They also noted that UNESCO had recognised two Malaysian national parks as World Heritage Sites, something Singapore can’t boast about.

Meanwhile, some Singaporeans defended their home country’s infrastructure and praised the nation’s public spaces and efficiency.

This spirited online argument highlights the long-standing rivalry between the two countries, which were once part of the same nation before separating in 1965.

Despite differences, both Malaysia and Singapore continue to have a profound influence on each other, from tourism to economics.

The heated exchange shows that when it comes to sibling rivalry, the debate will never be settled – not in food, not in transport, and certainly not on the internet.

The Singapore Food Agency (SFA) has announced a recall of YTY Garlic Peanuts from China after detecting the presence of cyclamate (cyclamic acid), a non-permitted sweetener in the product.

The ongoing recall follows an inspection that found the sweetener, typically allowed in soft drinks and canned fruits, used in a snack where it is banned.

Cyclamate, an artificial sweetener, is approved for use in certain products but is not permitted in nuts and seeds, including peanuts and walnuts.

Though consuming the implicated YTY Garlic Peanuts does not pose an immediate health risk, SFA warns against excessive consumption of the sweetener, especially over extended periods.

YTY Garlic Peanuts, weighing 150g, were found to contain cyclamate despite the sweetener being banned in nuts and seeds products.

The SFA has urged consumers to check for YTY Garlic Peanuts with the expiry date of 8 April 2025, and a country of origin listed as China.

The agency is proactively sampling and testing other nuts and seeds products available in Singapore for non-permitted sweeteners, and any affected products will be recalled.

As part of its precautionary measures, the SFA recommends that anyone who has consumed the peanuts and feels unwell should consult a healthcare professional.

Additionally, consumers are encouraged to contact their point of purchase for further inquiries.

The recall is part of the SFA’s broader effort to ensure food safety and protect consumers from potential health risks.

Read more on the recall issued for YTY Garlic Peanuts after the discovery cyclamate here.

A suspicious envelope containing white powdery substances was found in a mailbox on Saunders Road, Singapore, prompting the evacuation of 20 people from the area on Thursday (12 Dec).

The incident occurred at around 5:30pm, and authorities swiftly responded, with the Singapore Civil Defence Force (SCDF) and police on the scene.

Hazmat officers in full protective gear were deployed to handle the situation, retrieving the envelope for testing.

After conducting several tests on the substance, no immediate danger was detected, though initial findings suggest the contents may be drug-related, according to police sources.

As a precaution, 20 residents from nearby units were evacuated while authorities investigated.

A section of Saunders Road was temporarily cordoned off, and several emergency vehicles, including a hazmat control vehicle, were seen on-site.

The area was cleared around 7:00pm.

The incident has been handed over to the Central Narcotics Bureau (CNB) for further investigation.

Authorities have assured the public that there were no injuries, and the situation has since been brought under control.

Read on the suspicious white powder that triggered alarm here.

Indian teenager Gukesh Dommaraju has stunned the world by becoming the youngest-ever FIDE World Chess Champion at just 18 years old.

In a nail-biting final in Singapore, the Chennai prodigy triumphed over defending champion Ding Liren in a dramatic 14-game series.

The match, which had been tightly contested with eight draws and two wins for each player, came down to a pivotal final game where Ding, in a strong position, made a costly blunder.

This gave Gukesh the crucial point he needed to secure a 7.5-6.5 victory, etching his name into chess history.

The victory was especially emotional for Gukesh, who burst into tears after realising the magnitude of his win.

“I probably got so emotional because I did not really expect to win that position,” he admitted, reflecting on the unexpected turn of events.

His triumph also marks a momentous occasion for India, making him the second Indian to ever claim the title, following Viswanathan Anand, who last won in 2012.

Gukesh’s victory is even more remarkable given his youth.

At 18, he is four years younger than Garry Kasparov, who was 22 when he became the youngest world champion in 1985.

Gukesh’s rise to the top has been nothing short of meteoric – he was crowned a chess grandmaster at just 12 years and seven months, making him the third-youngest grandmaster in history.

From a modest beginning in Chennai, where his parents enrolled him in chess classes as a child, Gukesh’s dedication and talent have now brought him global recognition.

With a $2.5 million prize fund on the line, this victory not only secured Gukesh the chess crown but also added to his growing list of accomplishments.

The showdown at Resorts World Sentosa has captured the attention of fans worldwide, and the tournament has sparked a chess boom locally.

Find out how Gukesh made chess history in Singapore here.

Singapore has become the world’s most expensive place to rent a home, with one-bedroom flats costing an eye-watering $3,636 per month, according to online cost-of-living database Numbeo.

The surge in prices is linked to a growing population and a shortage of affordable housing.

While locals benefit from affordable housing options, expats are hit hardest by the cost of living in this densely packed island city, as rents soar amid booming demand.

Following Singapore, other major global cities are also grappling with rapidly rising rent costs.

Hong Kong, long notorious for its exorbitant housing prices, comes in second at $2,911 per month for a one-bedroom city-centre apartment.

The combination of limited space and fierce competition continues to make Hong Kong one of the most unaffordable cities for renters.

Rounding up the top 5, Switzerland, Luxembourg and the UAE are struggling with sky-high rent prices due to a combination of housing shortages and intense demand.

As more people flock to these urban centres, the supply of affordable housing is failing to keep pace, forcing rental prices to climb.

Cities across Europe and the Americas are not immune to the global trend.

The United States, the United Kingdom, and Canada have also seen significant increases in rental costs.

Economic factors such as inflation, supply chain disruptions, and post-pandemic migration trends have made the housing market even more competitive.

While these rising costs affect millions, the situation in Singapore is particularly striking.

Despite its high home ownership rate of nearly 90 per cent, the city’s expat population faces exorbitant rental costs.

The gap between available supply and skyrocketing demand continues to fuel the global housing affordability crisis, with renters in nearly every major city feeling the squeeze.

Find out which cities see skyrocketing rentals here.

A better-than-expected third-quarter GDP performance has prompted a revision in Singapore’s 2024 growth forecast to 3.6 per cent from the earlier prediction of 2.6 per cent.

The new forecast comes from a survey of 20 economists conducted by the Monetary Authority of Singapore (MAS), which also anticipates no change in monetary policy during its upcoming review in January.

The revised growth projection follows a robust third-quarter performance, where Singapore's GDP grew by 5.4 per cent, surpassing estimates.

Despite this, inflation is expected to remain under control, with headline inflation for 2024 forecast at 2.5 per cent, down from 2.6 per cent in the previous estimate.

Core inflation, which excludes the prices of private transport and accommodation, is predicted to be 2.8 per cent, slightly lower than the earlier 2.9 per cent forecast.

Economists polled by the MAS suggest that the country’s monetary policy will remain unchanged in the first quarter of 2024, with only a third of respondents expecting a reduction in the slope of the Singapore dollar’s nominal effective exchange rate (S$NEER).

The central bank has not altered its policy settings since October 2022, when it raised the currency band for the fifth consecutive time to combat inflationary pressures.

Looking ahead, the trade ministry recently raised its GDP growth forecast for 2024 to 3.5 per cent, reflecting confidence in continued growth momentum.

However, the expected 3.1 per cent growth for the final quarter of 2024 signals a slight moderation in economic activity after the earlier surge.

The latest survey results show that Singapore’s economy is poised to grow steadily in 2024, aided by strong external demand and improved business sentiment.

Read on Singapore’s economic outlook for 2024 here.