EWL disruption enters day two as commuter woes continue; Workers eager for four-day work week but bosses not so much: Singapore live news
We feature a curated selection of some of the biggest, most important, and fascinating news that’s making waves online
Yahoo News Singapore
Updated
And that's a wrap. Thanks for tuning in. We'll catch y'all again tomorrow.
Hello to all our readers, Yahoo Singapore will be bringing you live news updates today.
As the East-West Line (EWL) train disruption stretches into its second day, commuters in Singapore face ongoing transport challenges. With services still suspended between Jurong East and Buona Vista due to a traction power fault, the situation remains fluid. The disruption began Wednesday (25 Sept) morning, stranding 850 passengers after a power fault affected multiple stations. SMRT has introduced shuttle bus services to assist affected commuters, though frustrations regarding crowd management persist. The LTA has confirmed ongoing repairs and safety checks on affected trains. With this incident following several other disruptions, questions about the reliability of Singapore's public transport system are being raised. More on the second day of SMRT's EWL disruption here.
The world’s coolest neighbourhoods for 2024 have been revealed, and Singapore’s Orchard Road has made the list, reflecting a dynamic shift from shopping hub to cultural hotspot. With exciting new venues and a creative spirit, Orchard Road is at the forefront of urban exploration. Find out the 38 coolest neighbourhoods in the world right now here.
Erling Haaland has quickly made his mark at Manchester City, reaching 100 goals in just 105 matches. His remarkable scoring rate positions him to potentially break Alan Shearer's Premier League record of 260 goals, among other milestones. Haaland’s scoring diversity and his recent cheeky antics have added depth to his character, making him not just a goal machine but also a notable figure in the rivalry with Arsenal. Here's what's next for Manchester City star Erling Haaland.
How long should great sex last? A new study suggests 35 minutes is ideal, with 15 minutes of foreplay, 15 minutes of intercourse, and 5 minutes of afterplay. Regular sex is crucial for health, and extra foreplay boosts satisfaction. Most people find nighttime, especially weekends, the best time for sex. Read on how you can transform your sex life to achieve maximum satisfaction.
In a bizarre case of deception, a 49-year-old man in Malaysia was scammed out of over $6000 (RM20,000) after falling for a sperm donation scheme. Lured by an enticing online advertisement featuring a beautiful woman, he was contacted by a woman supposedly in Singapore. He soon found himself caught in a web of false promises and fraudulent contracts. Here's how fraudsters use attractive ads to scam their victims.
Hong Kong has reclaimed its status as Asia’s leading financial hub, pushing Singapore to second place, according to the latest Global Financial Centres Index. Hong Kong's rise is attributed to a recovering stock market and new IPOs, while Singapore sees modest gains but drops in ranking. Globally, the competition among financial centres remains fierce amid geopolitical risks that are looming large. See how the global financial centres stack up here.
LIVE COVERAGE IS OVER9 updates
Featured
Joel Balbin
Singapore falls to second in Asia in latest financial rankings
Singapore has been overtaken by Hong Kong as the leading financial centre in Asia, according to the latest Global Financial Centres Index.
Singapore now sits at fourth globally and has slipped to second in Asia due to recent economic trends and market performance.
Despite Singapore's drop in ranking, it still managed a modest increase of five points, indicating that while it remains a significant financial hub, it faces growing competition from Hong Kong.
The index highlights the importance of responsive economic policies and market conditions in determining the standings of financial centres.
Wider trends in Asia reveal that while Hong Kong is experiencing a resurgence, other cities like Shanghai and Beijing have fallen in the rankings.
The report attributes Hong Kong's rise to a recovering stock market, new public listings, and supportive government policies.
The easing of pandemic restrictions and an influx of capital have revitalised Hong Kong's financial landscape, making it more attractive to global investors.
Globally, the index reflects a competitive atmosphere, with many cities making gains while others struggle.
The report emphasises that geopolitical risks remain a significant concern for financial centres worldwide, affecting their stability and growth.
The index, compiled by Z/Yen Partners and the China Development Institute, assessed 121 financial centres based on multiple criteria, including business environment and human capital.
A recent survey by Etiqa Insurance highlights that most younger Singaporeans aspire to retire early, ideally before the age of 60.
According to the survey, 81 per cent of Singaporeans plan to retire between 50 and 70, with a significant number aiming for 60.
Most millennials (75 per cent) and Gen Z (69 per cent) feel confident about achieving their retirement goals, expecting to live on less thanS$6,000 a month.
However, many start planning for retirement only in their 30s, which may jeopardise their long-term financial security.
While younger Singaporeans are proactive about retirement, many underestimate the time and funds necessary to maintain their desired lifestyle.
Etiqa Insurance CEO Raymond Ong warns of a potential retirement gap if this trend continues.
Despite a general optimism, factors like rising living costs and inflation prompt the need for serious financial planning, starting earlier and investing wisely.
The survey also reveals that younger generations prefer conservative financial instruments for retirement savings, such as savings accounts and CPF contributions.
This cautious approach has helped them capitalise on recent high-interest rates, but experts urge a reevaluation of strategies to achieve better growth in uncertain economic times.
Notably, the survey indicates that a substantial portion of Singaporeans, particularly 25 per cent, have yet to begin planning for retirement.
Common barriers include focusing on immediate financial needs and feeling overwhelmed by the complexities of financial planning.
The report also stresses the importance of healthcare and insurance coverage in retirement planning.
With many younger Singaporeans prioritising wealth transfer for future generations, there is a risk that they might neglect their own financial security, exacerbating the retirement gap.
Recent openings such as a state-of-the-art adventure complex, pottery workshops, and an art gallery dedicated to Asian artists are reshaping its identity.
The neighbourhood's unique blend of urban living and artistic expression makes it a must-visit for both locals and tourists.
The rankings highlight the significance of community, culture, and creativity in defining what makes a neighbourhood "cool."
As cities adapt and transform, these neighbourhoods not only provide an avenue for local businesses but also offer visitors a genuine taste of urban life.
Each neighbourhood tells its own story, inviting all to discover the coolest places to be.
EWL disruption: Commuters face more delays on day two of stalled services
As the train disruption on the East-West Line (EWL) enters its second day, commuters continue to face significant challenges.
Train services between Jurong East and Buona Vista remain suspended due to a traction power fault that originated from a power trip on Wednesday (25 Sept) morning.
Additionally, free regular bus services are being offered between Boon Lay and Queenstown, and bridging buses are in operation for affected commuters.
SMRT staff are deployed to assist passengers and maintain order, but some commuters report frustrations with crowd management and long wait times.
The Land Transport Authority (LTA) said in a statement that repair works are underway, but the extent of the damage means that train services will remain suspended for an extended period.
They are conducting thorough checks on all affected trains before returning them to service.
The LTA has encouraged commuters to stay informed through social media updates.
Despite the chaos, many commuters have adapted to the situation.
Reports indicate that while the morning rush was crowded, SMRT staff worked efficiently to guide passengers to buses.
While employers see potential benefits in productivity and employee well-being, they remain cautious about implementing such changes, with only 18% planning to transition within the next two years.
The enthusiasm for a four-day work week is notably stronger among employees, with 93 per cent expressing interest in trialing this arrangement.
Countries like Malaysia, Thailand, and the Philippines report higher acceptance rates for a shorter work week, reflecting differing workplace cultures and attitudes towards employee flexibility.
Despite the interest in a four-day week, many employers in Singapore highlight the challenges of implementation, fearing operational disruptions and employee dissatisfaction.
As businesses grapple with a competitive landscape, some express worries about maintaining productivity and potential impacts on employee morale.
However, the government has clarified that flexible work options extend beyond a four-day work week, encompassing various arrangements like part-time and remote work.
17,000 Singaporean youths are not in school, work or training
Around 17,000 youths in Singapore, aged 15 to 24, are classified as NEET (Not in Education, Employment, or Training), representing 4.1% of the youth population, Senior Parliamentary Secretary Eric Chua said on Wednesday (25 Sept).
This marks an increase from 3.7 per cent in 2013, despite remaining below the global average of 22.4%, according to Chua.
Chua highlighted these figures during the inaugural Youth Outreach Conference at the National University of Singapore, emphasising the risk of social exclusion for these individuals.
The conference aimed to address the challenges facing troubled youth, particularly "hidden youth" who isolate themselves at home.
Chua emphasised that the changing landscape – characterised by excessive information and consumerism – affects today’s youth.
He pointed out the contrast with his own upbringing, where accessing information required visiting libraries, unlike the constant online comparisons youth face today.
This environment, he argued, diminishes emotional connections and face-to-face interactions.
Man duped out of $6000 by attractive woman in sperm donation scam
A 49-year-old man in Malaysia fell victim to a sperm donation scam, losing over $6,000 (RM20,000).
The scam began when man, identified only as Lee, saw an online advertisement featuring an attractive woman, which prompted him to fill out a form with his personal information.
Soon after, he was contacted via WhatsApp by a woman, who claimed to be from Singapore and suggested that the sperm donation would involve sexual intercourse.
To further entice the man, the woman, who introduced herself as Chen, sent a photo and voice messages, which were later determined to be likely stolen from a modelling agency.
Chen initially requested RM1,000 to connect Lee with her lawyer, promising a substantial payout of RM1 million if he participated in the donation.
After making the initial payment, Lee received a contract promising an upfront payment of RM300,000 within 48 hours, followed by RM700,000 upon confirmation of conception.
Despite the contract bearing the name of a reputable Malaysian law firm, Lee, who struggled with reading literacy, did not recognise it as a scam.
He ended up paying an additional RM24,000 in processing fees before becoming suspicious when the lawyer demanded another RM30,000.
Realising something was wrong, Lee sought help from Malaysian authorities, which confirmed that the law firm had no connection to the scammers and that they were likely part of a local syndicate using the names of legitimate firms to enhance their credibility.
Authorities pointed out that the woman’s voice messages had a non-local accent and sounded robotic, which should have raised red flags for the man.
A new study revealed that the optimal time for a satisfying sexual experience is around 35 minutes.
This includes 15 minutes of foreplay, 15 minutes of intercourse, and 5 minutes of afterplay.
This duration is considered ideal for achieving both physical and emotional satisfaction.
According to Chinese medicine and recent research, regular sexual activity – ideally at least once a week – is important for maintaining health and enhancing interpersonal connections.
Insufficient sexual activity is linked to negative health outcomes, including a higher risk of death for women.
This remarkable achievement came in just 105 appearances, highlighting his prolific scoring ability since joining the club in 2022.
His average of one goal every 85 minutes and impressive start to the season – with 10 goals in just five games – suggests that he is on track to shatter multiple records, including Alan Shearer’s all-time Premier League goals record of 260 goals.
Haaland's scoring prowess has made him a standout player in English football, as he has won the Golden Boot in both of his seasons with City.
He equalled Cristiano Ronaldo's record for the fewest games taken to reach 100 goals in Europe's top five leagues.
His diverse scoring includes 73 goals in the Premier League, 18 in the Champions League, and a mix of headers, penalties, and long-range strikes, making him a formidable threat on the pitch.
The next immediate target for Haaland is to break the record for the quickest player to score 100 Premier League goals, currently held by Shearer, which requires him to net 27 more goals in his next 52 games.
Additionally, he has the potential to surpass Sergio Aguero as Manchester City's all-time top scorer if he maintains his current form.
Long-term, he could aim to become Norway's all-time leading scorer, as he is only one goal away from that milestone.
Beyond his scoring records, Haaland has recently showcased a more playful side, emerging as a notable "wind-up merchant" during matches.
In the same game where he scored his 100th goal, he cheekily threw the ball at Arsenal defender Gabriel's head, drawing attention to his growing role in the rivalry between the two clubs.
(Bloomberg) -- Toronto-Dominion Bank will pay about $3 billion in penalties and face restrictions on its US growth in a settlement with regulators over its failure to catch money laundering, the Wall Street Journal reported. Most Read from BloombergSan Francisco to Shut 9% of Public Schools Amid Budget WoesThe Cablebus Transformed Commutes in Mexico City’s Populous OutskirtsChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilUrban Heat Stress Is Another Disparity in the World’s Most Un
TORONTO — Toronto-Dominion Bank has agreed to pay fines totalling about US$3.09 billion from U.S. regulators after pleading guilty to multiple charges related to failures in its anti-money laundering program.
For many people, retirement may seem like a far-off accomplishment, a glorious place that looms over a distant horizon. However, you might be in a position to close the gap and round the curve into...
Despite the short-lived recovery in oil prices, analysts warn that the response from oil shorts remains strong, with bearish sentiment prevailing and many traders still aggressively shorting oil based on market momentum.
An EU-China trade war is "unavoidable" on current trends, according to Europe's top business leader in the country, who said that Beijing's own policies mean it could not be considered the "victim". "A full-blown trade war looks more and more likely if nothing changes," said Jens Eskelund, the chairman of the European Union Chamber of Commerce in China, in an interview in Brussels on Wednesday. Jens Eskelund said it is "very important" to stress that China is not the "victim" in the dispute. Pho
TORONTO — Canaccord Genuity Group Inc. says it has named former RBC executive Nadine Ahn as deputy chief financial officer, with the expectation that she'll step into the top CFO role next year.
(Bloomberg) -- Private oil refiners in China say Iranian sellers are seeking to raise their prices by offering narrower discounts, at a time of elevated tensions in the Middle East that have global investors on edge.Most Read from BloombergSan Francisco to Shut 9% of Public Schools Amid Budget WoesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationShould Evictions Be Banned After Hurricanes and Climate Disasters?
Kanye West's former 'fixer' is suing the rapper for threatening to kill him and retaliating against him when he reported alleged abuses about Donda Academy.
(Bloomberg) -- European banks are beginning to cut staff by deploying artificial intelligence tools, with BPER Banca SpA becoming one of the first to put hard numbers on the impact. Most Read from BloombergThe Cablebus Transformed Commutes in Mexico City’s Populous OutskirtsSan Francisco to Shut 9% of Public Schools Amid Budget WoesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationShould Evictions Be Banned Afte
As the U.S. markets experience a notable surge, with the S&P 500 and Nasdaq climbing higher thanks to gains in large-cap technology stocks, investors are keeping a close eye on potential opportunities amidst fluctuating oil prices and economic indicators. In this context, identifying stocks that might be trading below their estimated value could offer appealing prospects for those looking to capitalize on market inefficiencies.
Michela Allocca is a personal finance creator who shares tips for managing money through her social media pages. For You: 3 Things You Must Do When Your Savings Reach $50,000 Up Next: 5 Unnecessary...
(Bloomberg) -- A wave of new liquefied natural gas supply from projects agreed years ago in anticipation of surging demand keeps getting pushed back, threatening to extend the global energy crisis.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilSingapore Ends 181 Years of Horse Racing to Make Way for HomesShould Evictions Be Ba
Australian businesses welcomed the removal of China's trade impediments on its live lobsters, which are set to be dropped after more than three years following a meeting between Chinese Premier Li Qiang and Prime Minister Anthony Albanese on Thursday. The unofficial import ban will be lifted by the end of the year, and a timeline regarding the resumption of full lobster trade was also agreed by Albanese on the sidelines of the Asean summit in Laos. China had been a vital market for Australian lo
According to new research from Ameriprise Financial, only 11% of couples retire at the same time. Overwhelmingly, couples opt to stagger their retirements by at least a year. A recent Yahoo! Finance...
A former “director of intelligence” for Kanye West, who changed his name to Ye, sued the performer on Thursday, alleging that he was tasked with investigating the Kardashian family for “sex trafficking.” The former employee, identified only as John Doe, also alleged that he was tasked with hiring private investigators to tail West’s wife, Bianca …
Taiwan-based printed circuit board (PCB) maker APCB expects to discontinue production in the island by the end of the year and lay off hundreds of employees, as the company shifts manufacturing to a subsidiary in mainland China. Production in Taiwan will cease from December 25, following three consecutive years of losses for APCB's plants on the island amid "a weak consumer electronics industry" and "rising raw material costs", the company said in a filing to the Taiwan Stock Exchange on Tuesday