Swiss parliament starts Credit Suisse takeover probe

Switzerland’s parliament has launched an inquiry into the government-orchestrated takeover of Credit Suisse by UBS.

Singapore banks told to phase out SMS OTP as sole factor of authenticating high-risk transactions

The Monetary Authority of Singapore has required banks to phase out SMS OTP as a sole factor to authenticate high-risk transactions,” said Senior Minister Tharman Shanmugaratnam in a recent parliamentary reply

Nearly 2,200 work permit holders received approval from MOM to marry Singapore citizens in 2021 and 2022

Singapore Parliament: Nearly 1,100 work permit holders received approval to marry Singapore citizens annually between 2021 and 2022, with females making up 84% of these approved applications.

COE distribution reflects higher car ownership proportion among non-HDB residents in Singapore

The Singapore Transport Minister’s reply regarding the percentage of Certificates of Entitlements (COEs) going to HDB flat owners revealed that non-HDB residents, who account for 20% of the population, hold 40% of the COEs, indicating higher car ownership rates among them.

About 1,400 well-paying jobs created by family offices in Singapore since scheme launch, said Tharman

Family offices in Singapore created about 1,400 well-paying jobs for Singaporeans and permanent residents since the scheme’s inception, with about 900 of these roles emerging in the past three years, said Senior Minister Tharman Shanmugaratnam.

SG government retains rights to terminate funding to SMT if serious wrongdoings are found, says Josephine Teo

Josephine Teo shares that the Singapore government is retaining the right to terminate funding to SPH Media Trust (SMT) if misconduct or serious wrongdoings are discovered. She also confirms the disbursement of the first funding tranche of the S$900million for SMT in March 2023. Ms Teo reiterated the government’s decision to continue funding SMT, stressed that trusted news media, enabled by quality journalism, is a public good that cannot be compromised.

PAP-majority Parliament hijacks WP motion, holds back on reevaluating Singapore’s sporting ecosystem as a whole

The Parliament voted in favor of an amended motion put forth by Workers’ Party calling for the support Singapore’s athletes, but refrained from calling for a reassessment of sports management. Amendments proposed by Mr Darryl David were passed with the support of People’s Action Party MPs who are majority in Parliament, despite dissent recorded from all the Workers’ Party MPs and the Progress Singapore Party’s Non-Constituency MPs present.

Leader of Opposition criticizes SNOC’s “blanket non-selection”, calls for greater leniency approach toward Soh Rui Yong

Leader of the Opposition Pritam Singh called for leniency towards Soh Rui Yong, excluded from the Asian Games, expressing concern for his future prospects. He questioned Singapore National Olympic Council’s differed treatment towards Soh, highlighting the council’s history of forgiving athletes involved in criminal offenses while Soh had not.

Indranee accused PSP’s video of intending to “cast aspersions”, Video removed and both NCMP Leong and his party apologised

Both Leong Mun Wai and the Progress Singapore Party issued an apology after Leader of the House, Indranee Rajah insisted on an apology from PSP and the Non-constituency Member of Parliament (NCMP) over a Facebook post made by the alternative party in Singapore. A letter has been sent to the party and Leong, demanding a public apology to be posted on PSP’s Facebook page and all other social media platforms. The deadline for the apology is 10 pm on Thursday (6 Jul). Failure to comply will result in the matter being referred to the Committee of Privilege.

Supermajority PAP Parliament dismisses motion to abolish GRC system, overlooks allegations of gerrymandering

Despite intense debates and unresolved allegations of gerrymandering from opposition members, the PAP’s supermajority in Parliament dismissed the motion to abolish Singapore’s Group Representation Constituency (GRC) system.