Tag: OCBC Cycle

The World Meteorological Organization (WMO) is set to elect a new leader this week to bolster global efforts in tracking climate change. Four candidates, including two women, are vying for the position. The WMO's role in climate change has gained prominence, and the new secretary-general is expected to become a prominent advocate on this urgent global issue. The election will conclude the WMO's general assembly, which focuses on ramping up climate response and supporting countries in climate adaptation. The new leader will assume office on 1 January 2024.

On Tuesday (30 May), the Housing Development Board (HDB) launched nearly 7,000 flats for sale, of which 1,500 are Sale of Balance Flats located...

Elon Musk met with China's industry minister to discuss the development of new energy vehicles and intelligent connected vehicles. Tesla has extensive business interests in China, and Musk expressed his desire to expand further in the country. China is the world's largest electric vehicle market, and Tesla plans to build a second factory in Shanghai. Musk also expressed opposition to economic "decoupling" between China and the United States.

A top Chinese intelligence official has visited Myanmar to discuss military "cooperation" with the junta, Myanmar state media reported. This marks the first publicly reported visit by a military official from China since the 2021 coup. China has maintained ties with the regime, supplying arms and supporting ethnic rebel groups along the border.

The Central Provident Fund (CPF) and the Housing and Development Board (HDB) have announced that the interest rate for CPF's Special and MediSave Account (SMA) will increase to 4.01% per annum for Q3 2023. However, some netizens criticized the increase, stating that it was only a 0.01% increment and barely noticeable in small CPF balances. In comparison, Malaysia's Employees Provident Fund (EPF) declared higher dividend rates for conventional and syariah savings.

Private residential property in Singapore has surpassed Hong Kong as the most expensive in the Asia-Pacific region in terms of absolute prices, according to a report by the Urban Land Institute (ULI). Despite the high prices, Singapore is considered more attainable for home ownership compared to other cities in the region. The report attributes the increase in prices and rent to factors such as immigration, young professionals seeking more space, government measures, limited rental properties, and disruptions caused by COVID-19.

Opinion piece: Minister K Shanmugam warned in 2018 about the dangers of inequality in Singapore and its potential to fracture society. He highlighted the proximity of extreme wealth and poverty, emphasizing that the richest and poorest are just 15 minutes apart. It is puzzling, then, that Minister Shanmugam chose to occupy a massive government-owned colonial bungalow, drawing attention to the stark disparity he had spoken against. Has he considered the message this sends to Singaporeans struggling to make ends meet?