Singapore Prime Minister Lawrence Wong tops world leaders salary charts; Shopee, Lazada and Amazon lead Singapore e-commerce traffic as $13 billion market in sight: Singapore live news

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Lawrence Wong, Singapore's deputy prime minister and finance minister, speaks at the Nikkei Forum Future of Asia in Tokyo, Japan, on Thursday, May 25, 2023. The widening rift between the world's two biggest economies, the US and China, now looks in some regards to be irreconcilable, according to Wong. (Photo: Kiyoshi Ota/Bloomberg)
Singapore stands out as the highest-paying country for its prime minister, Lawrence Wong, who earns $2.20 million annually. (Photo: Kiyoshi Ota/Bloomberg)

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Singapore Prime Minister Lawrence Wong outpaces all world leaders with an annual salary of $2.20 million, according to Forbes. PM Wong earns significantly more than his counterparts in Switzerland, Australia, the United States and Austria, who round up the top 5 best-paid leaders. Read more on the salaries of world leaders here.

Singapore's e-commerce sector continues to flourish, with Shopee, Lazada and Amazon topping the charts as the most visited sites. The market’s gross merchandise volume (GMV) is on track to grow to $13 billion by 2025, according to business intelligence platform Statista. As Singapore leverages its digital infrastructure, new collaborations and updates from major players like SingPost, Cainiao and Taobao highlight the evolving landscape. But as Singapore's e-commerce booms, scams and frauds are on the rise too. Learn how you can better protect yourself from common frauds and scams here.

Singapore ranked 14th in the 2024 Best Countries list, according to US News & World Report. Known for its strict laws and high living standards, it’s a hub for international trade and innovation despite facing challenges from space constraints, among others. Read on to know which nations made it to the 2024 Best Countries rankings here.

With fluctuating real estate markets globally, many investors are looking beyond traditional locations. Singapore, Sapporo, Tbilisi, and Playa del Carmen stand out as top international cities for real estate investment. Find out what makes Singapore attractive for potential buyers.

AirAsia chief Tony Fernandes demands clarity on SIA Engineering Company's (SIAEC) hiring practices, questioning the qualifications and salaries of 90 per cent of its employees. Fernandes also criticised Singapore for not allowing AirAsia to enter its market, which he views as a barrier to competition. Despite support for SIAEC’s Malaysian operations, Fernandes highlights broader issues with market access in ASEAN. More on the AirAsia's boss demand for greater transparency in SIAEC's recruitment practices here.

A hornet attack in Singapore revealed its deadly potential after a cyclist was attacked by a swarm in Sembawang. A 60-year-old cyclist was attacked by hornets near Sembawang Park Connector on 4 July 2022 and died three days later in the hospital, according to the ruling of State Coroner Adam Nakhoda on 13 Sept, saying the man's death was a tragic misadventure. The hornets became aggressive after their nest was disturbed. Hornets are making the headlines all over the world recently after the invasive fear-inducing Asia's "murder hornets" and its cousin were reportedly spotted in the US and the UK, threatening the local bee populations there. More on the deadly hornet attack in Sembawang here.

Singapore blends modern luxury with cultural heritage. Highlights include Orchard Road’s shopping, Little India’s vibrant markets, and top-notch hotels offering diverse experiences from family-friendly to romantic getaways. Here's what makes Singapore a perfect getaways for any travellers.

Cardinal William Goh lauded Pope Francis’s focus on justice and inclusivity during his Singapore trip. The Pontiff witnessed Singapore’s rapid development, appreciating its progress but warning against neglecting the vulnerable. Pope Francis highlighted the need for Singapore to protect the dignity of migrant workers. More on Singapore's Cardinal Goh's praise for Pope Francis here.

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  • Featured
    Joel Balbin

    Singapore's Cardinal Goh praises Pope Francis's message on justice and compassion

    Pope Francis arrives to attend an inter-religious meeting with young people at the Catholic Junior College in Singapore, September 13, 2024. REUTERS/Guglielmo Mangiapane
    From right, Pope Francis, Archbishop of Singapore William Goh, and Singapore's Minister of Culture Edwin Tong attend an inter-religious meeting with young people at the Catholic Junior College in Singapore, 13 Sept 2024. REUTERS/Guglielmo Mangiapane

    Pope Francis may have concluded his Asian tour recently, but the Pontiff left a lasting spiritual impact on the island nation, according to the country's top Catholic archbishop.

    In an interview with the Vatican News, Cardinal William Goh expressed profound admiration for the Pope, highlighting his humility, compassion, and dedication to social justice, particularly in his advocacy for the dignity of migrant workers.

    He also noted how the Pope’s visit left a dee spiritual impression on Singapore, especially through his interactions with the youth and his message of inclusivity.

    Singapore stood out to Pope Francis for its rapid modernisation and global outlook.

    He acknowledged the city’s impressive development, calling it a potential model for coexistence.

    Pope Francis took in Singapore's cultural diversity and bustling life of the city-state, marvelling at its skyscrapers while calling it the "New York of the East," but also cautioned against neglecting the vulnerable.

    He reflected on the realities of life in Singapore, particularly the challenges faced by migrant workers.

    The Pope emphasised the importance of treating these workers with dignity, advocating for justice and better conditions.

    His experiences in Singapore, combined with what he saw in the other Asian countries he visited, inspired him to draw lessons about economic growth, inequality, and compassion for the marginalised.

    In particular, he encouraged Singapore Catholics to not only focus on their faith but also to interact meaningfully with people from other walks of life, extending their love and compassion to those outside the Church.

    Notably, during a youth event, he went off-script, encouraging young Singaporeans to embrace dialogue and unity across differences.

    His reflections on Singapore’s position in the global community underscored the need for the city-state to balance progress with the protection of human rights.

    Read more on Singapore's Cardinal Goh's admiration for Pope Francis here.

  • Featured
    Joel Balbin

    Singapore Prime Minister Lawrence Wong is the highest paid world leader

    Lawrence Wong. (Photo: Lionel Ng/Bloomberg)
    Singapore's Prime Minister earns the highest salary among world leaders at $2.20 million. (Photo: Lionel Ng/Bloomberg)

    Singapore’s Prime Minister Lawrence Wong is the highest-paid world leader, earning $2.20 million annually.

    According to Forbes, Wong's salary puts him in front of the heads of Switzerland, Australia, the United States and Austria, which make the top 5 best-paid leaders.

    Wong’s pay is notably high compared to Singapore’s GDP per capita, which further underscores his top position globally.

    Compared to developed countries, Wong's compensation showcases Singapore's different valuation of political leadership in terms of financial reward.

    Singapore’s approach contrasts with typical developed countries where compensation is generally lower relative to GDP per capita, illustrating a unique national prioritisation.

    Early this year, the government deferred the 2023 ministerial salary review, citing geopolitical tensions and economic risks as reasons for deferring the assessment.

    Find out more about the salaries of other world leaders here.

  • Featured
    Joel Balbin

    Shopee, Lazada and Amazon top e-commerce traffic as Singapore market set to hit $13 billion

    Bangkok, Thailand - August 22, 2019 : iPhone 7 showing its screen with Shopee, Lazada and other online shopping application icon.
    Singapore’s e-commerce landscape is dominated by Shopee, followed by Lazada and Amazon. The market, worth $10.4 billion in 2023, is expected to grow to $13 billion by 2025. (Photo: Getty Images)

    Singapore’s e-commerce scene is buzzing with Shopee leading the charge, followed by Lazada and Amazon.

    As of mid-2024, Shopee recorded about 13.2 million monthly visits. Lazada garnered around 6 million visits, and Amazon with 5 million, according data and business intelligence platform Statista.

    Singapore's thriving e-commerce industry saw the sector’s gross merchandise volume (GMV) hit $10.4 billion (US$8 billion) in 2023 and is projected to reach $13 billion by 2025.

    Despite being smaller compared to its regional counterparts, Singapore’s e-commerce flourishes due to high GDP per capita, advanced ICT infrastructure, and a focus on quality and pricing.

    The high revenue per order and frequent online shopping habits contribute to Singapore’s prominent position in Southeast Asia’s e-commerce sector.

    Singapore is known for its advanced digital infrastructure and high e-commerce adoption.

    The pandemic significantly boosted online shopping, a trend that continues post-pandemic.

    Singaporeans frequently shop online and are increasingly using diverse platforms and product categories.

    The rise of mobile commerce and social media-driven sales is shaping the market, with smartphones becoming the primary device for online purchases.

    To keep up with this growth, SingPost and Cainiao are joining forces for better logistics, while Taobao introduces an English version to cater to a broader audience.

    And with the growth in e-commerce, scams and frauds have exploded too.

    Find out how you can better protect yourself from common frauds and scams here.

  • Joel Balbin

    Explore Singapore's unique blend of modernity and tradition

    A man on a bicycle peddles in front of a colourful traditional indian wall illustration in Little India, Singapore.
    Singapore packs a punch as a travel destination with its mix of modern luxury and rich cultural heritage. (Photo: Getty Images)

    Singapore offers an incredible range of experiences despite its relatively compact space.

    In just 59 years, it has transformed into a vibrant global hub, blending modern skyscrapers with traditional heritage.

    Visitors can easily navigate the city via an efficient public transport system and enjoy a wealth of activities, from world-class shopping and dining to exploring lush parks and interactive museums.

    Orchard Road is Singapore’s premier shopping destination, likened to Fifth Avenue or the Champs-Élysées.

    It boasts high-end brands, luxury malls, and first-class hotels.

    Little India provides a rich cultural experience with its vibrant markets, colourful shophouses, and local cuisine.

    Read on what makes Singapore a perfect travel destination for any travellers.

  • Joel Balbin

    Cyclist dies after hornet attack in Sembawang, coroner finds

    A close-up of Vespa affinis, also known as lesser banded hornet. (Photo: Getty Images)
    A close-up of Vespa affinis, also known as lesser banded hornet. (Photo: Getty Images)

    A 60-year-old Singaporean cyclist, was attacked by hornets near Sembawang Park Connector and died three days later in the hospital.

    This was the finding of State Coroner Adam Nakhoda on 13 Sept, ruling Ronnie Ang's death was a tragic misadventure.

    Ang was cycling along the park connector on 4 July 2022 when he encountered a swarm of hornets.

    The hornets, identified as Vespa affinis, also known as lesser banded hornet, became aggressive after their nest, located 12 metres up a tree, was disturbed.

    Ang, who had pre-existing heart conditions, experienced severe symptoms and eventually succumbed to organ failure despite medical treatment.

    A swarm of hornets made headlines recently after it struck five people in Sungei Buloh and sent them to the hospital on 14 July 2024.

    The indent led to a temporary closure of the affected area.

    The hornet attack in Sungei Buloh came after a similar incident in Hillview that resulted in a fatal allergic reaction.

    The United States and United Kingdom are keeping an eye on Asia's "murder hornets" and its cousin after reports that invasive fear-inducing species made their way to the countries, threatening the local bee populations.

    Read more on the deadly hornet attack in Sembawang here.

  • Joel Balbin

    AirAsia chief Tony Fernandes demands transparency from SIA Engineering

    Tony Fernandes, the CEO of AirAsia's parent company, Capital A, attends an interview with Reuters in Sepang, Malaysia February 26, 2024. REUTERS/Hasnoor Hussain
    Tony Fernandes, the CEO of AirAsia's parent company, Capital A, criticised SIA Engineering for opaque hiring practices. REUTERS/Hasnoor Hussain

    Tony Fernandes, CEO of Capital A Bhd, has called for greater transparency from SIA Engineering Company (SIAEC) regarding its recruitment practices.

    On a LinkedIn post, Fernandes questions the qualifications and salaries of the 90% of SIAEC’s employees not recruited from Malaysia Airlines, emphasising a need for clarity on these aspects.

    Despite supporting SIAEC's operations in Malaysia, Fernandes has criticised Singapore for not reciprocating by opening its markets to other ASEAN operators like AirAsia.

    He argues that Singapore’s market protection limits competition and prevents fair opportunities for AirAsia in the region.

    Fernandes’s remarks followed a clarification from SIAEC’s Jeremy Yew, who stated that only 10% of technical staff were recruited from Malaysia Airlines and that the hiring process was transparent, involving job fairs and online platforms.

    Fernandes is also concerned about Singapore’s resistance to allowing AirAsia to enter its market, despite attempts to buy a low-cost carrier there.

    He believes that Singapore needs to foster real competition in alignment with other ASEAN countries.

    SIAEC recently signed a 15-year lease agreement for hangars at Sultan Abdul Aziz Shah Airport, reflecting its ongoing commitment to expanding operations in Malaysia.

    Read on AirAsia's boss demand for more transparency in SIAEC's hiring practices here.

  • Joel Balbin

    Singapore’s stability makes it a top real estate investment choice

    An aerial view of Sentosa Cove taken by drone.
    Singapore is a prime real estate market offering high quality of life, economic stability, and growth potential. (Photo: Getty Images)

    Singapore stands out as a prime international city for real estate investment.

    This is according to a report by GoBankingRates, citing real estate experts.

    Known for its high quality of life and stable political and economic environment, the city-state is praised for its advanced infrastructure and safety.

    Although property prices are relatively high, Singapore's reputation for stability and growth makes it a promising long-term investment.

    Sapporo, Tbilisi, and Playa del Carmen are the three other international cities that stand out for real estate investment.

    Find your perfect real estate investment spot here.

  • Joel Balbin

    Singapore ranked among the world's Best Countries in 2024

    Aerial view of skyline at sunrise, Marina bay, Singapore
    Singapore rose to the 14th spot in the 2024 Best Countries ranking. (Photo: Getty Images)

    Singapore continues to shine as Southeast Asia’s economic beacon.

    The bustling Southeast Asian city-state rose to the 14th spot in the 2024 Best Countries rankings, two spots higher from the previous year, according to a report by the US News & World Report.

    Singapore is known for its strict laws, thriving economy, and high GDP per capita.

    Its compact size leads to challenges with space and living costs, but the government focuses on innovation and environmental sustainability to address these issues.

    Singapore is a major player in international trade and a member of several global organisations.

    Switzerland tops the world rankings for the third year in a row, known for its exceptional quality of life and stability.

    Japan and the United States follow, each improving their standings.

    Canada and Australia round out the top five with strong performances in quality of life and global influence.

    Find out which nations made it to the 2024 Best Countries rankings here.

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