CPF’s Special Account closure boosts retirement payouts for seniors; Singapore to enhance cost of living support in 2025 Budget: Singapore live news

With Chinese New Year just around the corner, the Immigration and Checkpoints Authority (ICA) is preparing for heavy traffic at the Woodlands and Tuas checkpoints.

From 24 Jan to 2 Feb, travellers can expect delays as millions head home or take a holiday across the Singapore-Malaysia border.

During peak times in the past, travellers faced waits of up to three hours due to long queues.

The ICA advises using QR codes for faster immigration clearance and reminds travellers to ensure their documents are in order.

Prohibited items such as vapes and bak kwa should be avoided, and drivers should verify their vehicle entry permits to avoid being turned away.

Read on the expected traffic surge at Singapore’s land checkpoints during CNY here.

Changi Airport has regained its spot as the fourth-busiest international airport globally in 2024, handling 41.5 million international seats.

The 15 per cent increase in capacity demonstrates a strong recovery for the airport, as it approaches pre-pandemic levels.

While it is slightly behind its 2019 seat figures, Changi’s robust recovery highlights its importance as a global aviation hub.

As Southeast Asia’s primary transit point, Changi’s capacity growth underscores its ongoing role in supporting international travel.

With competition growing from airports like South KoreaIncheon, Changi remains poised to retain its strategic edge due to its extensive global network and prime location.

Find out the 10 busiest airports in the world here.

As Singapore endures prolonged rainy weather, the country is facing a rise in flu and cold cases, with a noticeable uptick in patients suffering from Influenza A and B.

Doctors are seeing a 30-40 per cent increase in consultations, particularly among elderly individuals, according to a report by Mothership citing the Shin Min Daily News.

The cool temperatures, along with the rain, have made the flu highly contagious, with families being hit hard by the outbreak.

Public health officials are urging residents to stay warm and vigilant.

Donald Trump will be sworn in as the 47th President of the United States on 20 Jan, 12pm ET (21 Jan, 1am Singapore), marking an unprecedented political comeback.

The inauguration, originally scheduled for the steps of the US Capitol, has been moved indoors due to frigid temperatures, with a projected high of -4.4°C (24°F).

Despite the weather, Trump is set to deliver a historic address following his second swearing-in ceremony.

Trump's return to the White House after four years is a significant moment in US politics.

He will take the oath of office alongside his running mate, Vice President-elect JD Vance.

The ceremony will feature prominent musical performances, including country stars Carrie Underwood and Lee Greenwood.

Additionally, the ceremony will be livestreamed for global audiences, with major media outlets like CNN, BBC, and ABC broadcasting the event.

The day’s events will kick off with a morning church service at St John's Church, followed by a formal tea at the White House.

Trump will then proceed to the Capitol, where he will take the oath of office on a Bible gifted to him by his mother and the historic Lincoln Bible used by President Abraham Lincoln in 1861.

Trump’s inaugural address will set the tone for his new administration, with a focus on national security and economic reforms.

The event will see an impressive list of attendees, including former Presidents Barack Obama, Bill Clinton, George W. Bush, and Joe Biden, who will all be in attendance, though Michelle Obama and Nancy Pelosi have declined invitations.

Foreign dignitaries such as China’s Vice President Han Zheng and El Salvador's President Nayib Bukele are expected as well.

While the day will be filled with ceremony and celebration, Trump's inaugural balls – three in total – will provide a lavish conclusion to the festivities.

Performances from the Village People, Rascal Flatts, and Kid Rock will make for a lively evening, while Trump’s supporters celebrate in various venues around the city.

Here's what you can expect from Trump's inauguration.

Singapore’s rainy season has reached new extremes in January 2025, as monsoon surges and the La Niña weather pattern combine to produce some of the heaviest rains in decades.

With rainfall totals 70 per cent above average across the island, more than a dozen flights have been diverted due to poor visibility, and flash floods have caused traffic delays.

The Meteorological Service Singapore (MSS) reports that this is the ninth-wettest January since 1980.

The surge is expected to continue for the remainder of the month, with officials urging residents to remain prepared for more disruptions.

For ongoing updates on the weather, residents are encouraged to check the Meteorological Service Singapore (MSS) website or download the myENV app for real-time alerts and forecasts.

TikTok has managed to sidestep a national security ban in the US after briefly going dark, with service restored on Sunday (19 Jan) after President-elect Donald Trump’s intervention.

The popular app, owned by Chinese tech giant ByteDance, faced pressure from legislation mandating the sale of its US subsidiary.

President-elect Donald Trump intervened at the last minute, offering to help delay the ban and even proposing joint ownership of TikTok by the US.

TikTok thanked Trump for his role in ensuring its continued availability.

The move has been seen as a political win for Trump, while TikTok remains in the spotlight over its potential future in the US market.

Read on TikTok resuming its US services here.

The Singapore dollar (SGD) is facing significant headwinds as analysts expect the Monetary Authority of Singapore (MAS) to ease its currency policy in 2025.

The MAS, which uses the Singapore dollar’s nominal effective exchange rate (S$NEER) as its primary tool for monetary policy, has kept its currency band parameters unchanged for over a year.

However, analysts believe that recent declines in core inflation in Singapore provide the central bank with an opportunity to adjust its currency policy.

With core inflation below 2%, the MAS may flatten the currency band, allowing the SGD to weaken further against the US dollar.

Analysts believes that the MAS will move towards easing this month by slightly flattening the slope of the currency band, predicting that the SGD will weaken further against the US dollar.

This shift is driven not only by domestic factors like inflation but also by external forces, particularly US trade policy.

With the potential for higher US tariffs under a returning Donald Trump administration, analysts expect the impact of these tariffs to ripple through economies like Singapore’s, which is heavily reliant on international trade.

Despite the expected drop in the SGD, the change is likely to be gradual.

DBS Group Holdings predicts the Singapore dollar will reach the midpoint of the MAS’s currency band and could touch 1.39 per US dollar by mid-2025.

Barclays, on the other hand, expects the adjustment to happen as early as January, with the currency weakening to 1.39 by the year’s end.

Read on the Singapore dollar slump forecast here.