PM Wong calls Singapore-US ties ‘mutually beneficial’; WP's Pritam Singh disputes claims of COP misrepresentation during cross-examination: Singapore live news
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Singapore’s Prime Minister Lawrence Wong congratulated US President-elect Donald Trump and Vice President-elect JD Vance on their election victories. Highlighting the longstanding and mutually beneficial partnership between the US and Singapore, Wong expressed confidence that the two countries would continue to work together on critical issues like defense, trade, and emerging technologies. The 20th anniversary of the US-Singapore Free Trade Agreement marked a key milestone in the relationship, with bilateral trade nearly tripling since its inception. Singapore remains committed to supporting US leadership in the Asia-Pacific and looks forward to further cooperation under the new administration. Read PM Wong's congratulatory letters to Trump and Vance here.
Workers' Party chief Pritam Singh’s testimony in court Wednesday (6 Nov) took a contentious turn as the prosecution challenged his handling of former Member of the Parliament (MP) Raeesah Khan’s lie. The cross-examination spotlighted alleged inconsistencies in Singh’s statements to the Committee of Privileges (COP) and in court, with DAG Ang Cheng Hock suggesting Singh created a “misleading impression.” Singh defended his advice to Khan to “take ownership,” maintaining that his intentions were to guide her toward accountability. Prosecutors also questioned Singh’s response to Khan’s revised statement, suggesting a conflict with his COP testimony. Singh dismissed these claims, underscoring that his approach prioritised transparency. Singh's trial is expected to resume.
DBS Group has posted an all-time high net profit of $3.03 billion for the third quarter of 2024, marking a 15 per cent rise from the previous year. Strong performance in wealth management, treasury customer sales, and market trading income helped boost the bank’s results. However, the bank warned that its 2025 earnings would likely fall due to the upcoming implementation of a 15 per cent global minimum corporate tax rate in Singapore. In light of its stellar results, DBS declared a quarterly dividend of $0.54 per share and unveiled a new $3 billion share buyback program, signalling confidence in its financial strength. More on DBS delivering record profit in Q3 here.
Singapore’s introduction of self-driving vehicles marks a significant shift in its urban transport strategy. With a focus on safety and managing deployment risks, the city-state is rolling out autonomous minibuses and electric logistics vehicles. These autonomous vehicles (AVs) will operate on fixed, low-traffic routes to test their reliability before expanding to more complex areas. Companies like FairPrice Group and Chye Thiam Maintenance have already been approved for trials, and the Land Transport Authority (LTA) has implemented a rigorous testing framework to ensure these vehicles perform well in Singapore’s unique conditions. As safety remains a top concern, the government is taking a careful, step-by-step approach to deploying this technology, according to Transport Minister Chee Hong Tat.
Four crew members aboard the Netherlands-flagged Vox Maxima have been charged after their dredger collided with a bunker vessel, causing a massive oil spill that is being called the worst in Singapore in a decade. The spill affected key local landmarks like East Coast Park and Sentosa, as well as Malaysia’s Johor coastline. Authorities quickly suspended water activities, while a clean-up operation was launched. The crew will return to court next month to face charges under the Merchant Shipping Act. More on the Dutch crew facing charges for the massive oil spill in Singapore here.
Southeast Asia's digital economy is expected to grow by just 15 per cent in 2024, the slowest rate since 2017. Consumers are spending less due to economic pressures, while competition among tech giants is intensifying. Despite these challenges, there is optimism around the region’s data centre investments, with US$30 billion committed to building AI infrastructure in the first half of 2024 alone. Although venture funding has dropped significantly, Southeast Asia’s digital transformation is set to continue, driven by AI, digital security, and user sophistication. More on Southeast Asia’s digital economy struggles here.
As nearly 200 nations prepare for COP29 in Baku, Singapore’s Environment Minister Grace Fu warns that a dispute over climate finance could undermine the Paris Agreement. Developed countries, led by the US and Europe, want more nations, including China and Singapore, to contribute to a new global climate fund. But Fu insists that this could disrupt the agreement’s foundational principles, which place the responsibility on wealthier nations to support developing countries. Fu also expressed concern over the potential impact of the US presidential election on the negotiations, particularly if Donald Trump returns to office. As COP29 begins, negotiators are also hopeful that Article 6, which deals with global carbon credit markets, could be a key area of focus. More on Singapore Minister Grace Fu's warning on the COP29 climate finance stalemate here.
Singapore's reputation for world-class education remains unshaken, with its top universities continuing to dominate the QS World University Rankings for Asia in 2025. National University of Singapore (NUS) and Nanyang Technological University (NTU) secured places in the top five universities in the region, reaffirming their leadership in academic quality, research impact, and global collaboration. While NUS maintains its position in third place, NTU climbed steadily in the rankings, marking Singapore as a critical hub for innovation and educational excellence. Singapore Management University (SMU) and Singapore University of Technology and Design (SUTD), however, slipped in their standings, prompting experts to call for improvements in research output and faculty expertise. Despite these challenges, Singapore remains one of the most influential players in higher education, with ongoing government initiatives aimed at improving accessibility and fostering international exchange. See the QS World University Rankings for Asia 2025 here.
Forbes Asia’s 2024 Power Businesswomen list celebrates 20 trailblazing women leaders who are reshaping their industries. Singapore's Tan Su Shan, incoming CEO of DBS, and Serena Teo Joo Ling, CEO of CapitaLand Ascott Trust, are among those featured. These women are leading with bold strategies in sectors from banking and tech to real estate and electric vehicles. Their achievements are setting the stage for the next generation of women in business, showcasing innovation and adaptability in uncertain times. With a diverse range of backgrounds, these leaders represent a new era of female leadership in Asia. See Forbes Asia's Power Businesswomen 2024 full list here.
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Joel Balbin
2 Singaporeans honoured in Forbes Asia’s 2024 Power Businesswomen list
Forbes has revealed its 2024 Power Businesswomen list, celebrating 20 of Asia’s most accomplished female leaders.
From banking and real estate to tech and manufacturing, these women are reshaping industries and challenging norms.
Tan, set to become the first female CEO of DBS, Southeast Asia’s largest bank, is already leaving her mark.
As deputy CEO and head of institutional banking, she’s overseen a massive 26 per cent rise in the bank’s profits, poised to continue its growth under her leadership.
Tan is ready to tackle the fast-changing world of banking, where technology and geopolitical shifts require agility and innovation.
“It’s no longer about contingency plans. It’s about the ability to pivot quickly,” Tan shared with Forbes.
Joining Tan on the list is Serena Teo Joo Ling, the dynamic CEO of CapitaLand Ascott Trust.
Under Teo's leadership, the company has grown steadily, with a 20 per cent revenue increase in 2023 and a major portfolio overhaul.
CapitaLand Ascott Trust, Asia’s largest lodging trust by asset value, is well positioned for future growth, with Teo focusing on diversifying its portfolio across global markets.
Other standout women include Miwako Date, the CEO of Mori Trust Holdings, and Stella Li, who heads BYD's operations in the Americas and Europe.
Both women are trailblazing their industries, whether by expanding portfolios, building luxury hotels, or leading the charge in electric vehicle manufacturing.
Forbes’ list is not only a celebration of these women’s immense achievements but also a testament to the changing landscape of leadership in Asia.
PM Wong sees bright future in US-Singapore partnership
Singapore Prime Minister Lawrence Wong congratulated Donald Trump on his presidential win, noting the importance of the US-Singapore partnership in shaping regional security and economic growth.
With trade surging thanks to the US-Singapore Free Trade Agreement, Wong emphasised the deepening economic ties, with Singaporean investments creating over 270,000 high-quality jobs in the US.
He also touched on the key defence pact that allows American forces access to Singapore’s military facilities, vital for regional peace.
As both nations look toward the future, Wong expressed his readiness to build on this strong foundation for even greater collaboration.
WP's Pritam Singh faces intense cross-examination over Raeesah Khan’s lie case
Workers' Party (WP) chief Pritam Singh faced a tense cross-examination on Wednesday (6 Nov), as the prosecution pressed him on alleged inconsistencies between his statements to the Committee of Privileges (COP) and his court testimony.
Deputy Attorney-General (DAG) Ang Cheng Hock suggested Singh gave the COP a “misleading impression,” a charge Singh denied while defending his actions during the incident involving former Member of the Parliament (MP) Raeesah Khan.
The exchanges grew heated as Ang pointed to discrepancies regarding Singh’s 3 October 2021, meeting with Khan, where he allegedly told her to “take ownership” of her lie in Parliament.
Ang argued that Singh's COP testimony suggested he had insisted Khan clarify her statement, regardless of the issue being raised.
Singh countered that his intention was for Khan to clarify only if her lie came up in Parliament.
Prosecutors also scrutinised Singh’s handling of Khan's clarification statement in Parliament, pointing to Singh’s previous claim that Khan had not sought his approval for an added line.
WhatsApp messages presented in court showed Khan had indeed informed Singh, leading the prosecution to suggest Singh tried to mislead the COP.
Singh refuted this, emphasising he was transparent with the COP about the chat logs.
The trial further delved into Singh’s expectations on 4 October, the day Khan doubled down on her falsehood.
DAG Ang contended Singh did not make adequate preparations for a confession, suggesting he assumed Khan would continue her narrative.
Singh disagreed, reiterating that he was disappointed by Khan’s actions and had expected her to correct her statement when necessary.
The cross-examination highlighted Singh’s handling of a politically sensitive issue that has stirred significant public interest.
The trial continues, with Singh maintaining that his instructions to Khan were meant to guide her toward accountability, despite differing accounts presented in court.
Joel Balbin
Singapore’s NUS and NTU rank in Asia’s top 5 universities
Singapore continues to outshine its regional peers in the latest QS World University Rankings for Asia 2025, with two of its universities – National University of Singapore (NUS) and Nanyang Technological University (NTU) – making their mark in the top four.
NUS retains its third-place ranking, celebrated for its stellar academic reputation and international research collaborations.
Meanwhile, NTU impresses with its research impact, securing fourth place overall. Despite a slight dip in the rankings for Singapore Management University (SMU) and Singapore University of Technology and Design (SUTD), the city-state’s higher education sector remains resilient, driven by a commitment to research excellence and fostering global partnerships.
Singapore warns deadlock on climate funds risks Paris Agreement
With COP29 just days away, climate finance is emerging as a major sticking point.
Singapore’s Environment Minister Grace Fu has voiced concerns that a deadlock over the proposed New Collective Quantified Goal (NCQG) could undermine the Paris Agreement.
The United States and Europe want emerging economies, like China and Singapore, to contribute to the global fund, but Singapore is unwilling to take on the role of donor.
Fu stressed that the Paris Agreement’s clear provisions on developed nations’ responsibility could be jeopardised if the donor base is expanded.
Singapore is ready to take autonomous vehicles (AVs) to the next level with the launch of trials for self-driving minibuses and electric logistics vehicles.
These innovations aim to address ongoing manpower shortages in transport while reducing risks through controlled, fixed-route operations.
While the country has been slower than others like China and the US, Transport Minister Chee Hong Tat emphasised that safety in Singapore’s dense urban environment is a priority.
The Land Transport Authority's (LTA) revised testing framework will ensure AVs are thoroughly assessed under local conditions before scaling up, with safety drivers onboard during initial trials.
DBS Group delivered record earnings of $3.03 billion in the thirds quarter of 2024, up 15 per cent from the previous year, driven by robust wealth management and market trading performance.
While the bank maintained strong profitability, it cautioned that its net profit in 2025 would be impacted by the new global minimum tax rate that Singapore will impose on multinational corporations.
Despite this, DBS remained positive about its future, with CEO Piyush Gupta noting that the bank’s healthy capital position and strong earnings will continue to support shareholder returns, including a quarterly dividend hike and a new $3 billion buyback program.
Blanket precautionary pardons are being considered for some of Donald Trump’s biggest political foes, according to a new report. Biden officials have been looking at who Trump and his FBI director pick Kash Patel may go after once they take over the White House, the latest sign of concern from the Democratic Party ahead of his impending inauguration. Some of those who are being considered for the precautionary pardon include newly-elected Sen. Adam Schiff, a Democrat who served on Congress’s Jan
A South Korean politician who grappled with an armed soldier in a show of defiance outside the country’s National Assembly on Tuesday night said she felt like the “last line” of defense in preventing security forces from entering parliament.
Bashar al-Assad’s family fled to Russia in the days after rebel forces launched a shock offensive that captured swathes of territory across northern Syria, it has been revealed.
House Republicans will have zero room for error in the 119th Congress — literally. Rep. John Duarte (R) conceded to Democrat Adam Gray in California’s 13th Congressional District on Tuesday night — the final uncalled House race of the 2024 cycle — solidifying the GOP’s 220-215 majority in the lower chamber. That slim edge is already one…
Malaysia said on Thursday any attempt by the incoming Trump administration to impose tariffs on BRICS countries for trying to create a new currency or use alternatives to the dollar could cause global semiconductor supply chain disruptions. The BRIC grouping of major emerging economies initially included Brazil, Russia, India and China, and has since expanded to take in other countries. Malaysia has applied to be part of the bloc, which aims to challenge a world order dominated by Western economies, but has not yet been officially accepted as a member.
The Democratic strategist slammed Biden for not exiting the presidential race sooner and lamented that his otherwise "stunning" legacy is now overshadowed.
They’re at war with Trump, under scrutiny for separate public appearances, and their popularity on the LA social scene is plummeting: what’s going to become of the Duke and Duchess of Montecito?
China has banned exports of key materials used to make a wide range of products, including smartphones, electric vehicles, radar systems and CT scanners, swiping back at Washington after it expanded export controls to include dozens of Chinese companies that make equipment used to produce advanced computer chips. Both sides say their controls are justified by national security concerns and both accuse the other of “weaponizing” trade. Here’s why this could be a tipping point in trade conflict between the two biggest economies, coming at a time when antagonisms already were expected to heat up once President-elect Donald Trump takes office, given his vows to hike tariffs on imports of Chinese-made products. WHAT DID CHINA DO AND WHY?
NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) has accused the State Department and "deep state" elements in the U.S. of trying to destabilise India in conjunction with a group of investigative journalists and opposition leader Rahul Gandhi. Gandhi's Congress party used articles by the Organized Crime and Corruption Reporting Project (OCCRP) that "singularly focused" on the Adani Group and its alleged closeness to the government to undermine Modi, the ruling party said on Thursday.
Mexico’s president said Thursday she will ask President-elect Donald Trump to deport non-Mexican migrants directly to their home countries, rather than dumping them at the Mexican border. President Claudia Sheinbaum said she hopes to reach an agreement with Trump so that “they send people who come from other countries to their countries of origin.” Mexico, like any other country, is not obligated to accept non-Mexican migrants, but it has agreed to do so in the recent past, especially from countries like Cuba and Venezuela, which often refuse deportation flights from the United States, but may accept them from Mexico.