Singapore celebrates Olympians in open-top bus parade; 2 ex-bankers charged in Singapore's largest money-laundering case: Singapore live news

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Singaporeans welcome their Olympic athletes during an open-top bus parade on 14 August 2024. (MDDI Photo by Kenneth Tan via Heng Swee Keat/Facebook)
Singaporeans welcome their Olympic athletes during an open-top bus parade on 14 August 2024. (MDDI Photo by Kenneth Tan via Heng Swee Keat/Facebook)

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Hello to all our readers, Yahoo Singapore will be bringing you live news updates today.

Singapore held an open-top bus parade for its Olympians led by bronze medallist Max Maeder. The event saw thousands braving the weather to show support for the athletes for their achievements from the Paris 2024 Olympics. Despite some criticism about the timing, the turnout was heartwarming. Maeder was visibly moved by the enthusiastic crowd. More on Team Singapore receiving a hero's welcome here.

Two former bank relationship managers were charged in Singapore in the country’s largest money-laundering case. The case, which emerged after a massive raid last year, uncovered illicit activities involving S$3 billion ($2.3 billion) in cash, properties, and cryptocurrencies. Ten individuals of Chinese origin were jailed earlier this year for their roles in laundering funds linked to illegal gambling and other offenses. Singapore’s authorities have responded by enforcing stricter oversight. More on Singapore's biggest money-laundering case here.

Wally Amos, creator of Famous Amos cookies, died at 88 in Hawaii. He lost ownership of the Famous Amos brand but found new success with Chip & Cookie. Known for his enthusiasm and contributions to children's literacy, Amos also authored books and supported reading programs. More on how Wally Amos' legacy lives on in his cookie and literacy work.

Quiet quitting, where employees do the bare minimum at work, has become increasingly common. Around 62 per cent of workers worldwide are disengaged, performing only what is required and lacking enthusiasm. This phenomenon is partly due to factors like poor management, burnout, and stagnant pay. However, some experts argue that quiet quitting may also be a response rooted in our biology, akin to "learned helplessness," where continuous stress leads to a passive attitude. This survival tactic might have been beneficial for our ancestors but can hinder modern work performance. Read on how the ancient survival tactic affects modern work life.

“Raw dogging” is trending among travellers who choose to endure flights without food, water, or entertainment, aiming for mental discipline and mindfulness. This practice has been endorsed by celebrities but criticised by experts for potential health risks. Learn why raw dogging is gaining popularity and why experts caution against this extreme practice.

Protein is the superhero of the macronutrient world, but it’s surrounded by myths. From the effectiveness of incomplete proteins to the truth about protein bars, here’s a clear look at what you need to know about protein.

New research suggests early tablet use might be fuelling more tantrums in children. The study links higher screen time at age 3.5 with greater anger by age 4.5. More on how tablets can affect emotional growth here.

Facebook founder Mark Zuckerberg has unveiled a unique sculpture of his wife, Priscilla Chan, crafted by artist Daniel Arsham. The robin egg blue and metallic statue is a modern twist on Roman art. Read on why some finds the "Roman" statue a charming gesture and others labels it as typical billionaire excess.

Bella Astillah says she's done with the drama surrounding her ex, Aliff Aziz. Here's why the Malaysian singer-actress says she's ready to move on and focus on her career and kids.

The World Health Organisation (WHO) has declared mpox a global health emergency as the disease, caused by a dangerous new variant, spreads rapidly across Africa, with over 450 deaths in DR Congo. Read on why WHO declared an mpox emergency.

Singapore’s home sales jumped in July, rebounding from a sluggish first half. While the numbers are improving, they still trail behind last year’s figures. More on how Singapore's housing market rebounded in July here.

Temasek Holdings made a significant investment in US tech giants earlier this year, but shortly after, the tech sector faced a downturn. Despite recent market turbulence, Temasek’s commitment to expanding its US tech portfolio remains strong. More on why Temasek’s ongoing investments suggest confidence in a tech recovery here.

LIVE COVERAGE IS OVER12 updates
  • Featured

    Temasek's big bet on US tech hits a bump in July

    Singaporean state-owned investor Temasek increased the value of its holdings in 11 big tech firms by US$3.3 billion ($4.35 billion) in the three months ended 30 June, according to an analysis of its two most recent 13F filings. (Photo: Edwin Koo/Bloomberg)
    Singaporean state-owned investor Temasek increased the value of its holdings in 11 big tech firms by US$3.3 billion ($4.35 billion) in the three months ended 30 June, according to an analysis of its two most recent 13F filings. (Photo: Edwin Koo/Bloomberg)

    Temasek Holdings, Singapore’s state-owned investment firm, made a significant splash in the US tech market during the second quarter, investing billions in major tech companies.

    The firm poured $4.35 billion (US$3.3 billion) into stocks of giants like Microsoft, Apple, Nvidia, Alphabet, Meta, and Amazon between April and June.

    However, just as Temasek was ramping up its investments, the tech sector faced a downturn in July due to jitters about AI hype and potential recession fears.

    Stocks of the invested companies, including Alphabet and Amazon, tumbled about 12 per cent, while Microsoft saw a 7 per cent dip.

    Despite the drop, many of Temasek’s tech holdings have shown signs of recovery recently.

    It’s uncertain whether the firm bought more shares during the downturn or cashed in before the decline.

    Given Temasek's vast portfolio, the US$3.3 billion investment accounts for just around 1 per cent of its total net value of US$389 billion as of 31 March.

    The timing of these investments highlights Temasek’s aggressive push to expand its footprint in the US tech sector.

    Temasek’s strategy emphasises a long-term commitment to US investments, with plans to allocate US$30 billion to the region over the next five years.

    Read on why Temasek’s ongoing investments suggest confidence in a tech recovery.

  • Featured

    Singapore sees July home sales rebound

    Singapore property developers sold 571 units last month, more than double the 228 sold in June, according to figures released by the Urban Redevelopment Authority (URA). (Photo: SeongJoon Cho/Bloomberg)
    Singapore property developers sold 571 units last month, more than double the 228 sold in June, according to figures released by the Urban Redevelopment Authority (URA). (Photo: SeongJoon Cho/Bloomberg)

    Singapore's new-home sales bounced back significantly in July, reaching their highest level since March.

    Developers sold 571 units, a sharp increase from June's 228, though still only 40% of the sales from the same month last year.

    The typical summer uptick, following the school holiday period, combined with the launch of two new suburban projects, contributed to this rebound.

    Despite the improvement, sales remain below past years' figures, largely due to the timing of new property launches rather than a broad-based recovery.

    Experts note that while the July numbers show progress, they reflect seasonal patterns and recent project releases rather than a sustained market upturn.

    Developers are managing the pace of new project releases and remain cautious about the impact of interest rate cuts on property demand.

    While banks have started offering lower mortgage rates, this hasn’t yet significantly boosted overall property sales.

    The Singapore government has eased this penalty to address the market slowdown and is working to increase private housing supply amidst concerns about affordability and rising home prices.

    Read on how Singapore's housing market picked up in July.

  • Featured

    Thousands cheer Olympic heroes in Singapore

    Singaporeans welcome their Olympic athletes during an open-top bus parade on 14 August 2024. (MDDI Photo by Kenneth Tan via Heng Swee Keat/Facebook)
    Singaporeans welcome their Olympic athletes during an open-top bus parade on 14 August 2024. (MDDI Photo by Kenneth Tan via Heng Swee Keat/Facebook)

    Thousands of Singaporeans turned out for an open-top bus parade through the city celebrating the country’s Olympians led by bronze medallist Max Maeder.

    The event showcased the athletes’ achievements from the Paris 2024 Olympics.

    Although some questioned the timing of the parade on a weekday morning, the enthusiasm of the crowd was evident.

    Social media reactions were mixed but generally positive, with Reddit users appreciating the support shown despite the weather.

    Maeder himself was touched by the turnout and engaged with fans during the parade, making heart gestures in response to their cheers.

    Read more on Team Singapore receiving a hero's welcome here.

  • Featured

    2 former bankers charged in massive $3 billion money-laundering case

    Wang Qiming leaves the State Courts in Singapore on 15 Aug 2024. (Photo: Suhaimi Abdullah/Bloomberg)
    Wang Qiming (pictured), formerly of Citibank Singapore, and Liu Kai, formerly with Bank Julius Baer, are accused in Singapore's largest money-laundering scandal involving $3 billion in illicit assets. (Photo: Suhaimi Abdullah/Bloomberg)

    Two former bank relationship managers were charged in Singapore in the city’s biggest money-laundering case.

    Wang Qiming is charged with 10 counts including forging documents to cheat Citibank Singapore that contributed to a scandal involving S$3 billion in illicit assets.

    Liu Kai, formerly with Bank Julius Baer, is accused of helping one convicted money launderers in submitting a forged Chinese tax document to open a Swiss bank account.

    The case has already led to the imprisonment of ten individuals linked to illegal gambling and other offences.

    Singapore’s authorities are underscoring their zero-tolerance stance on financial misconduct.

    Read the latest on Singapore's biggest money-laundering case here.

  • Mpox outbreak hits global emergency status

    FILE - This 1997 image provided by the CDC during an investigation into an outbreak of monkeypox, which took place in the Democratic Republic of the Congo (DRC), formerly Zaire, depicts the dorsal surfaces of the hands of a monkeypox case patient. Scientists say a new form of mpox detected in a mining town in Congo might more easily spread among people. Already, Congo is seeing its biggest mpox outbreak with more than 19,000 suspected infections and 900 deaths (CDC via AP, File)
    Mpox, formerly known as monkeypox, is now a global health emergency due to a deadly variant spreading through Africa. (CDC via AP, File)

    The World Health Organisation (WHO) has declared the mpox outbreak in Africa a global health emergency.

    Formerly known as monkeypox, this highly contagious disease has claimed over 450 lives in the Democratic Republic of Congo (DR Congo) and is spreading rapidly through central and eastern Africa.

    Scientists are alarmed by the emergence of a deadly new variant, Clade 1b, which is more fatal and spreading quickly.

    Mpox, transmitted through close contact, causes flu-like symptoms and skin lesions, with a fatality rate of around 4%.

    The outbreak is being exacerbated by the more dangerous Clade 1 strain, which has a higher mortality rate compared to previous strains.

    There have been more than 13,700 cases reported in DR Congo alone this year.

    The WHO's declaration aims to spur international action, including research, funding, and public health measures to control the spread.

    Past outbreaks, such as the 2022 Clade 2 outbreak, saw the disease spread to nearly 100 countries, mostly affecting men who have sex with men.

    Here's why experts are urging a swift and coordinated global response to the mpox outbreak.

  • Bella Astillah wants to close chapter on ex-husband Aliff Aziz conflict

    Malaysian singer-actress Bella Astillah urges an end to the ongoing conflict with her ex-husband Aliff Aziz. (Photo: CinemaOnline)
    Malaysian singer-actress Bella Astillah urges an end to the ongoing conflict with her ex-husband Aliff Aziz. (Photo: CinemaOnline)

    Bella Astillah has had enough of the drama surrounding her past relationship and is ready to move on.

    The Malaysian singer-actress recently addressed the ongoing negativity related to her ex-husband, Aliff Aziz, and his family, stating that she no longer wishes to engage in the issue.

    Astillah expressed her frustration over the repeated accusations that she was attempting to separate Aziz from his two children, clarifying that she has no intention of doing so.

    Astillah took to social media to call for an end to the ongoing dispute, emphasising that she wants to focus on her career and her children.

    Read on why Bella Astillah says it's time to move on from her ex-husband Aliff Aziz's drama.

  • What the Zuck? Meta's Mark Zuckerberg unveils bizarre Roman statue of his wife

    Priscilla Chan and the statue made in her honour. <p>Mark Zuckerberg/Instagram</p>
    Mark Zuckerberg’s latest stunt is a far cry from surfing in a tuxedo. He’s now showcasing a peculiar sculpture of his wife, Priscilla Chan (pictured), on Instagram. (Photo: Mark Zuckerberg/Instagram)

    Meta CEOMark Zuckerberg is making waves again, but this time it's not with code – it's with art.

    Following his recent stunt of surfing in a tuxedo, the Facebook founder Mark Zuckerberg commissioned a statue of his wife Priscilla Chan to express his love in the way of the ancient Romans.

    The sculpture, created by contemporary artist Daniel Arsham, features Chan in a robin egg blue and metallic cloak, aiming to channel Roman tradition with a modern twist.

    The piece has garnered mixed reactions online, with some users praising the romantic gesture and others criticising it as a display of billionaire excess.

    The couple first met at a college party in 2003, got married in 2012, and now have three daughters together.

    Is it a romantic masterpiece or just billionaire whimsy?

  • Early tablet use linked to increased childhood anger

    Little asian kid alone watching tablet device, lying on white duvet bed with chin on hands, in background darkness bedroom night time. Colourful bright light from screen reflex on the boy face.
    Early tablet use is linked to more anger in children, with a study showing higher screen time at 3.5 years leads to more frustration by 4.5 years. (Photo: Getty Images)

    A recent study shows that early tablet use can lead to increased anger and frustration in children.

    Tracking over 300 kids, researchers found that those using tablets more at age 3.5 displayed more anger by age 4.5.

    This effect can also go the other way, with more frustration leading to more screen time.

    Read on how tablets can affect emotional growth.

  • Protein myths busted: What you need to know

    Overhead view of a large group of food with high content of healthy proteins. The composition includes salmon beef fillet, chicken breast, eggs, yogurt, mussels, chick peas, pistachios, cheese, brown lentild, beans, shrimps, canned tuna, pumpkin seeds, soybeans among others. High resolution 42Mp studio digital capture taken with SONY A7rII and Zeiss Batis 40mm F2.0 CF lens
    Protein is crucial for building muscles and body repair, but many myths cloud its role. (Photo: Getty Images)

    Protein is a key nutrient for muscle building and overall body function, but there are many myths surrounding it.

    One common misconception is that incomplete proteins, like those from beans or nuts, don’t count toward your protein goals.

    In reality, combining different plant-based proteins throughout the day can provide all essential amino acids.

    Another myth is that there’s a one-size-fits-all protein requirement; needs vary based on age, health, and activity level, but aiming for around 30 grams per meal is a good benchmark.

    Some believe that just eating protein will bulk you up, but muscle growth requires resistance training in addition to adequate protein intake.

    Conversely, not all protein is always good – too much can lead to digestive issues and excess weight, especially if it displaces other nutrients or comes from processed meats.

    It’s also a myth that high protein diets cause kidney disease in healthy individuals, though those with existing conditions should be cautious.

    Vegans can absolutely get enough protein from plant sources like tofu, tempeh, and seeds, and even vegetables like broccoli and artichokes provide some protein.

    Despite the popularity of protein bars and shakes, whole foods are generally the best source of protein due to their additional nutrients and lower levels of added sugars.

    More on the truth about protein needs, sources, and myths here.

  • Is raw dogging the ultimate test of air travel discipline?

    Idris Elba in Hijack
    The term "raw dogging" seems to have been inspired by the Apple TV+ series "Hijacked," where Idris Elba's character endures a similar experience. (Photo: Apple TV+)

    An air travel trend called “raw dogging” has passengers challenging themselves by enduring flights with no entertainment, food, or water.

    This quirky practice has gained traction among social media influencers and even professional athletes.

    Manchester City footballer Erling Haaland and DJ Wudini have shared their impressive feats of spending hours in silence on long-haul flights, often bragging about their mental fortitude.

    The term "raw dogging" seems to have been inspired by the Apple TV+ series "Hijacked," where Idris Elba's character endures a similar experience.

    Proponents argue that it offers a chance for mental clarity and mindfulness, reflecting a desire to disconnect from constant stimulation.

    This minimalist approach is seen as a way to recharge mentally and reconnect with one's inner self.

    However, critics and experts have raised concerns about the potential health risks of raw dogging.

    They warn that avoiding essential needs like hydration and food can lead to dehydration and other negative effects, especially given the dry conditions of airplane cabins.

    Travel experts emphasise that it’s crucial to listen to your body and not sacrifice health for a trend.

    A business psychologist suggests that raw dogging could be beneficial for some, as it encourages mindfulness and a break from constant digital distractions.

    Another psychologist supports the idea that boredom can be valuable, providing a needed mental pause.

    Yet, she notes that extreme forms of raw dogging may not be ideal for longer flights.

    Read on why some travellers are embracing raw dogging on flights.

  • The biology behind quiet quitting: Stress and passivity

    Female entrepreneur with headache sitting at desk
    Female entrepreneur with headache sitting at desk

    Quiet quitting has become a widespread issue, with 62 per cent of employees globally only doing the minimum required at work.

    This behaviour often stems from factors like poor management, stagnant pay, and burnout.

    Research suggests that this might also be a biological response similar to "learned helplessness," where prolonged stress leads to a passive approach.

    This survival mechanism, useful for our ancestors, may now cause modern workers to disengage.

    While quiet quitting can be a way to prevent burnout, it highlights the need for employers to create supportive, engaging work environments and offer flexibility to maintain employee satisfaction.

    Read on how the ancient survival tactic affects modern work life.

  • Famous Amos founder Wally Amos dies at 88 in Hawaii

    FILE - This Tuesday, June 12, 2007, file photo shows Wally Amos, of Kailua, Hawaii, in his home office in the Lanikai section of Kailua, Hawaii. The Hawaii man, who in the 1980s lost ownership of his Famous Amos cookie company, is now selling his cookies at candy store Boardwalk Treats under the name, The Cookie Kahuna. (AP Photo/Lucy Pemoni)
    Wally Amos, creator of Famous Amos cookies, passed away at 88. Despite losing the brand, he thrived with Chip & Cookie and championed literacy, leaving a lasting legacy. (AP Photo/Lucy Pemoni)

    Wally Amos, the creator of the Famous Amos cookie brand, has died at age 88 in Honolulu, Hawaii.

    Known for his signature cookies and his role as a children's literacy advocate, Amos left an indelible mark on both business and philanthropy.

    After founding Famous Amos in 1975, he eventually lost control of the company, which continued using his name even though he no longer owned it.

    Despite this setback, Amos remained active, starting a new venture with Chip & Cookie in Hawaii and advocating for literacy through various initiatives.

    His later years were marked by personal struggles and professional rebranding but remained dedicated to his passions.

    Read more on how Wally Amos' legacy lives on in his cookie and literacy work.