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Singapore Airlines’ cancels trial of paper based meal boxes: Criticism rises over quality concerns

Singapore Airlines’ trial of eco-friendly paper meal boxes has been cancelled following critical feedback from customers. Despite initial claims of enhanced meal quality and variety, issues related to the packaging design and food quality were highlighted, leading to the decision to halt the implementation.

Russian PM arrives in China for talks with Xi, business forum

Russian Prime Minister Mikhail Mishustin arrived in China for a visit, where he will meet President Xi Jinping and sign agreements on infrastructure and trade. China has become Russia’s top energy customer, strengthening their economic cooperation. While China remains neutral in the Ukraine conflict, its influence over Russia is growing as Moscow faces international isolation.

Dai Wei, co-founder of failed bike-sharing startup Ofo, explore new business opportuinity in New York

Dai Wei, the Chinese entrepreneur behind the now-failed bike-sharing company Ofo, is making a fresh start in New York City with his coffee store, About Time Coffee. Despite Ofo’s downfall, investors have shown confidence in Dai Wei’s new venture, overlooking his past failure. Ofo faced numerous challenges, including financial difficulties, regulatory issues, and backlash from users demanding refunds for their deposits.

ByteDance, TikTok’s parent company, accused of “Culture of Lawlessness” in a lawsuit filed by former employee

In a lawsuit, former ByteDance engineering head, Yu Yintao, accuses the TikTok parent company of a “culture of lawlessness,” including content theft and manipulation. Yu alleges ByteDance served as a propaganda tool for the Chinese Communist Party and manipulated user data, amid rising global concerns over TikTok’s ties to China and potential threats to data privacy and national security. ByteDance denies the allegations, calling them “baseless.”

Russia rejects rupee settlement, deeming it undesirable: A blow to Indian importers as the rupee’s worth is questioned

India and Russia have halted efforts to settle bilateral trade in rupees, as Moscow is reluctant to hold the currency. Russian officials have expressed discomfort with accumulating rupees and prefer to be paid in Chinese yuan or other currencies. This setback affects Indian importers who sought to purchase Russian resources in rupees. The two countries had explored trade settlement in local currencies but failed to formalize guidelines.

MAS imposes additional capital requirement on DBS bank following repeated service disruptions

The Monetary Authority of Singapore (MAS) imposed an additional S$1.6 billion capital requirement on DBS Bank following repeated service disruptions in March and May 2023. MAS directed DBS to improve its system resiliency and recoverability, while the bank’s CEO apologized for the outages and committed to implementing recommendations from a comprehensive review.

DBS and POSB Bank customers face service disruptions for the second time in two months

DBS and POSB Bank customers in Singapore experienced service disruptions today, as digital banking services and ATMs were reportedly down. This marks the second time in two months that the banks’ digital services have faced significant outages. Customers criticized the bank’s response, questioning why systems had not been upgraded to handle increased traffic.

BasisAI co-founder investigated following complaint on BasisAI staff departure after Aicadium’s acquisition

Aicadium’s Vice President of Business Development, Liu Feng Yuan, who is also a co-founder of BasisAI, is reportedly under investigation following a whistleblower complaint. The complaint relates to staff departures from BasisAI, some of whom were later hired by SPH Media. Aicadium, a subsidiary of Temasek, has taken management action and conducted an investigation into Liu. However, no comments have been made by Aicadium or Temasek regarding the matter. Liu’s involvement in recruiting BasisAI engineers for SPH Media has raised concerns, as several employees left BasisAI after the acquisition by Aicadium was announced. BasisAI, known for its responsible AI software, was co-founded by Liu in 2018.

IBM halts hiring for roles that could be replaced by AI: Bloomberg

IBM plans to halt hiring for roles that could be replaced by artificial intelligence (AI) in the near future, potentially leading to a 30% workforce reduction in back-office functions within five years. As one of the largest workforce strategies announced in response to advancing technology, IBM will automate tasks such as employment verification letters and moving employees between departments. In Singapore, concerns have been raised about the impact of AI on the country’s workforce, with opposition parties questioning the creation of new jobs and the preparedness of the education system to cope with rapid changes brought about by AI.

Amazon begins another round of layoffs, with employees in Singapore not spared

Amazon has commenced layoffs in its cloud services division, Amazon Web Services (AWS), impacting 9,000 employees worldwide, including Singaporean staff. The layoffs follow a hiring spree during the pandemic and slowing growth in the unit, as corporate customers seek to reduce expenses.