Singapore plans bold overhaul to revive stock market; Singaporean CEO Shou Zi Chew defends TikTok against US ban: Singapore live news

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Pedestrians ride an escalator past an electronic screen and ticker board that indicates stock figures at the Singapore Exchange headquarters. (Photo: Getty Images)
Pedestrians ride an escalator past an electronic screen and ticker board that indicates stock figures at the Singapore Exchange headquarters. (Photo: Getty Images)

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

Singapore is gearing up to make bold regulatory changes to breathe new life into its struggling stock market. Second Minister for Finance Chee Hong Tat has outlined plans to overhaul the system. Here's how Singapore plans to rejuvenate its stock market here.

TikTok is back in the spotlight as it is faces a potential ban or forced sale in the United States due to national security concerns tied to its Chinese parent, ByteDance. Singaporean CEO Shou Zi Chew is spearheading the company's defence against the potential ban, which involves complex legal and constitutional issues. The outcome of the court case will decide if TikTok must divest from ByteDance or face a nationwide ban. More on TikTok's issues in the US and how its Singaporean CEO is leading its defence here.

New home sales in Singapore fell to 208 units in August, marking a steep decline from the previous month and a year earlier. This is due to limited new residential projects and developer caution in the face of high interest rates. Despite this, home prices have remained steady, especially in the second-hand market. Developers anticipate more unit launches later this year but face growing concerns about additional government measures and housing affordability. Read more on Singapore's housing market supply crunch here.

Singaporeans Wynnette Yip and Magdalene Huang share their stories of moving to Sweden – one grapples with cultural shocks, while the other enjoys a fulfilling new lifestyle. Their stories provide unique insights into the challenges and rewards of Singaporeans relocating abroad.

Google's Pixel Pro 9 Fold promised top-notch durability but did it deliver? Popular tech YouTuber Zack Nelson’s extreme durability tests show the foldable smartphone has several weaknesses. Here's why prospective buyers of Google's Pixel Pro 9 Fold should handle the device carefully.

Maggi, originally a Swiss creation, has become a household name in Malaysia. From its humble beginnings to its current status, find out how Maggi made an impact on Malaysian culture.

Economy class syndrome, or deep vein thrombosis (DVT), is a serious health issue resulting from prolonged immobility, commonly exacerbated by long flights. Symptoms include pain and swelling, with severe cases leading to pulmonary embolism. Both economy and premium class travellers are at risk if they remain inactive for extended periods. This how you can minimise DVT risk on your next flight.

The global coffee market is experiencing significant price hikes due to environmental and market changes. Interestingly, the "king for fruits", the durian, infamous for its strong odour, is playing a role in this economic shift. Here's how the durian and market shifts are contributing to the global coffee shortage here.

Amazon is tightening its return-to-office (RTO) policy, requiring employees to be in the office five days a week starting next year, up from three days. This move contrasts with other tech companies' more flexible approaches and has sparked backlash from employees who prefer remote work. More on Amazon's move to full-time office work in 2025 here.

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  • Featured

    Will more companies follow after Amazon's full-time office work move in 2025?

    Amazon will enforce a five-day-a-week in-office work requirement starting next year, tightening its current three-day mandate.

    CEO Andy Jassy emphasised the need for in-person collaboration and innovation as reasons for the shift.

    The stricter policy follows a period when many employees worked remotely due to the COVID-19 pandemic.

    Amazon's decision contrasts with other tech firms that have adopted more flexible return-to-office (RTO) policies.

    Some Amazon employees have already faced penalties for not adhering to the existing three-day rule.

    The new mandate has faced significant backlash from employees who prefer remote work for its convenience and cost savings.

    Previous protests and walkouts by Amazon workers highlight ongoing dissatisfaction with the company's policies.

    Amazon is also ending a program that allowed employees to work from anywhere for four months annually, further restricting work-from-home options.

    Read more about Amazon's 5-day office mandate here.

  • Featured

    Singapore plans bold steps to revitalise stock market

    Singapore' Second Minister for Finance Chee Hong Tat. (Photo: Chee Hong Tat/Facebook)
    Singapore' Second Minister for Finance Chee Hong Tat. (Photo: Chee Hong Tat/Facebook)

    Singapore is planning significant changes to revive its underperforming stock market, according to Second Minister for Finance Chee Hong Tat.

    A task force is working to modernise regulations, boost liquidity, and attract quality listings.

    Proposed measures include cutting listing costs, simplifying prospectus requirements, and expanding equity derivatives.

    The aim is to rejuvenate the market, which has faced declining performance and low trading volumes.

    The task force, comprising various industry stakeholders, will implement these changes over a year and assess their impact.

    Find out how Singapore aims to transform its underperforming stock market here.

  • Featured

    TikTok’s Singaporean CEO Shou Zi Chew fights against US ban in court

    TikTok CEO Shou Zi Chew arrives to attend the 6th edition of the Paris Peace Forum at the Palais Brongniart in Paris, France, November 10, 2023. REUTERS/Stephanie Lecocq/Pool
    TikTok’s future in the US hangs in the balance as Singaporean CEO Shou Zi Chew battles national security laws. Will ByteDance be forced to sell or face a ban? REUTERS/Stephanie Lecocq/Pool

    TikTok is in the spotlight due to ongoing legal battles in the United States, where the app faces potential bans or forced divestment due to national security concerns.

    The Biden administration has enacted a law demanding that ByteDance, TikTok's Chinese parent company, divest its U.S operations by mid-January or face a ban.

    TikTok is hotly contesting this legal issue in federal court to avoid a ban in the US.

    Shou Zi Chew, TikTok's 41-year-old Singaporean CEO, is at the forefront of this battle.

    Chew has a notable background, including stints at Facebook, Xiaomi, and investment firms before joining ByteDance in 2021.

    His role at TikTok involves managing the company's response to US regulatory pressures and defending against accusations that its data practices pose a national security risk.

    Chew has been vocal in his defence of TikTok, testifying before US Congress and addressing concerns directly through media and social platforms.

    Despite his efforts, the company faces a challenging legal environment, as judges scrutinise the implications of the law for both TikTok and broader constitutional rights.

    The outcome of these legal proceedings could have significant ramifications for both TikTok and its parent company ByteDance.

    If the law is upheld, TikTok may be forced to find a new owner or face a nationwide ban, potentially altering the app's future in the US and affecting its global operations.

    Chew's leadership will continue to be critical as TikTok navigates these complex legal and political challenges.

    Know more about TikTok's issues in the US and its Singaporean CEO leading its defence here.

  • The surprising link between durian and coffee price hikes

    Coffee prices are rising due to a combination of environmental impacts and market shifts. The durian is playing a role in this economic shift. (Photo: Getty Images)
    Coffee prices are rising due to a combination of environmental impacts and market shifts. The durian is playing a role in this economic shift. (Photo: Getty Images)

    Why is your coffee getting more expensive?

    It’s not just inflation.

    Coffee prices are skyrocketing due to a mix of climate issues and market changes.

    A 2021 frost in Brazil ruined Arabica crops, leading buyers to Vietnam.

    However, Vietnam’s drought forced farmers to switch from coffee to durian, driving up fruit prices and affecting coffee exports globally

    In New York City, the durian’s strong flavour is now featured in trendy lattes.

    Read on how the "king of fruits" and market shifts are brewing up trouble for your morning cup here.

  • There's a hidden danger lurking in those cramped budget airline seats

    woman feel seat small in the airplane
    Economy class syndrome, or deep vein thrombosis (DVT), is a severe condition linked to long periods of immobility, often experienced during long flights. (Photo: Getty Images)

    Economy class syndrome is more than just a discomfort – it's a serious risk.

    Also known as deep vein thrombosis (DVT), it can develop from long periods of immobility.

    Up to 100,000 Americans die from DVT annually, often linked to long flights, and any extended period of sedentary activity, like sitting for hours at a time, as in video gaming or during lockdowns.

    DVT commonly affects the deep veins in the legs or pelvis, but can occur in other parts of the body.

    Symptoms include swelling, pain, warmth, and skin colour changes, though some people experience no symptoms.

    Untreated DVT can lead to pulmonary embolism, a severe condition where a blood clot travels to the lungs, potentially causing death.

    While economy class seating is often blamed for DVT, the condition can affect anyone who is immobile for long periods, regardless of seating class.

    Therefore, prevention strategies are crucial for all travellers.

    Experts recommend regular movement, hydration, and support stockings.

    Read on for expert tips to avoid DVT and protect yourself from this travel-related health risk.

  • Maggi Noodles: How this Swiss invention became a Malaysian favourite

    In this photo taken on April 21, 2010, a man picks up a package of Maggi instant noodle made of whole wheat manufactured by Nestle Malaysia at the 7th World Instant Noodle Summit in Kuala Lumpur, Malaysia. More than a half-century after his father invented instant noodles to feed Japan's war-ravaged masses, Koki Ando says it is time to change the high-calorie, salt-laden fast food into healthier fare for the fastidious. In Malaysia, leading manufacturer Maggi is promoting
    Maggi, originally a Swiss creation, has become a household name in Malaysia. (AP Photo/Lai Seng Sin)

    Did you know Maggi started in Switzerland before becoming a Malaysian favourite?

    Founded by Julius Maggi in 1884, the brand was bought by Nestlé in 1947, which propelled its global presence.

    Maggi entered Malaysia in 1969 with sauces and later introduced its iconic instant noodles in 1971.

    Today, Malaysia is home to two major Maggi factories, including the largest in Batu Tiga, Shah Alam.

    The Batu Tiga factory produces over 2.5 million packs daily with strict quality control and exports to more than 20 countries.

    In Malaysia, Maggi has become deeply ingrained in culture, from its initial entry with sauces to its current status as a staple food item.

    The brand’s local success includes a popular cooking competition, which fosters culinary skills among students.

    Despite facing a temporary ban in India in 2015 due to safety concerns, Maggi remains a beloved brand in Malaysia.

    Read more about the origins of the beloved Malaysia brand Maggi here.

  • Did Google's new Pixel Pro 9 Fold smartphone survive this extreme durability test?

    The Google Pixel 9 Pro Fold on display at Made By Google at Google on Tuesday, Aug. 13, 2024, in Mountain View, Calif. (AP Photo/Juliana Yamada)
    Google's latest fordable smartphone Pixel Pro 9 Fold has been put to the test by tech YouTuber Zack Nelson of JerryRigEverything. Despite Google's marketing claims of superior durability, the device reveals several weaknesses. (AP Photo/Juliana Yamada)

    Is the Google’s Pixel Pro 9 Fold really as tough as it claims?

    Google's new phone was marketed as "super durable," but recent tests tell a different story.

    The rigorous durability tests of popular tech YouTuber Zack Nelson of JerryRigEverything reveal the phone struggles with scratches, dust, and bending.

    According to Zack Nelson’s durability tests, the expensive phone is not without flaws.

    From easily scratched screens to a lack of dust protection and bending vulnerabilities, the phone falls short of its durability promises.

    Despite the marketing hype, users might need to handle Google’s Pixel Pro 9 Fold with extra care.

  • From Singapore to Sweden: Cultural shock and new beginnings

    Wynnette Yip found Swedish attitudes toward marriage surprising after moving from Singapore. (Photo: wynnyyyy/TikTok via Malay Mail)
    Wynnette Yip found Swedish attitudes toward marriage surprising after moving from Singapore. (Photo: wynnyyyy/TikTok via Malay Mail)

    Wynnette Yip, a Singaporean living in Sweden, experienced significant culture shock over the Swedish approach to marriage and cohabitation.

    In Sweden, many couples opt for cohabitation ("sambo") rather than formal marriage, which contrasts sharply with the traditional marriage expectations in Singapore.

    Yip was surprised that in Sweden, having children does not necessarily prompt couples to marry, according to Malay Mail.

    Her video highlighting these differences garnered widespread attention and sparked discussions about cultural norms and personal choices regarding marriage.

    In contrast, Magdalene Huang, another Singaporean who relocated to Stockholm, Sweden, has no regrets about her move.

    Huang, who sought a more balanced lifestyle and flexible work environment, found that life in Sweden offered a satisfying change from the high-pressure career scene in Singapore, according to AsiaOne.

    Huang's decision to move was driven by her curiosity about life abroad and a desire for new experiences.

    She appreciated the support from her employer in facilitating the relocation process, which helped ease her transition.

    Despite initial challenges, such as adapting to severe weather and navigating life alone, Huang has embraced her new life in Sweden and found it enriching.

    Yip’s and Huang’s stories highlight the diverse experiences of Singaporeans adjusting to life in Sweden, providing unique insights into the challenges and rewards of moving abroad.

    While Yip struggled with the cultural differences in relationship norms, Huang has embraced the new opportunities and lifestyle that Sweden offers.

  • Singapore home sales plummet amid supply shortage

    Singapore’s new home sales are down to their lowest since February after only 208 new private homes were sold in August, a sharp drop from July. (Photo: Getty Images)
    Singapore’s new home sales are down to their lowest since February after only 208 new private homes were sold in August, a sharp drop from July. (Photo: Getty Images)

    Singapore's new home sales have sharply declined, reaching their lowest level since February.

    In August, only 208 new private homes were sold, a significant drop from the 571 sold in July and a 47 per cent decrease from the previous year.

    This decline is attributed to a lack of major residential projects and developers' cautious stance amid high interest rates and housing curbs.

    Despite the drop in transactions, home prices remain stable, particularly in the second-hand market.

    Developers expect an increase in new units later this year, but concerns about additional government restrictions and housing affordability persist.

    Read on new home sales in Singapore hitting a new low here.