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☆ Singapore's former transport minister S Iswaran slapped with 8 new charges
▼ + stars: | 2024-03-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

S. Iswaran, Singapore's transport minister, leaves the Singapore State Courts in Singapore, on Thursday, Jan. 18, 2024. Iswaran was charged with corruption, the latest development in the biggest political scandal to hit the city state in close to four decades. Photographer: Ore Huiying/Bloomberg via Getty ImagesSingapore's former Transport Minister S Iswaran was handed eight additional charges in court on Monday, bringing the total number of charges against him to 35. In January, Iswaran was handed 27 charges, including corruption — he pleaded not guilty to those charges. A statement from Singapore's anti-graft watchdog said the alleged offences were committed between November 2021 and November 2022, and was in connection with Iswaran's official function as Minister for Transport.

Persons: Iswaran, —, Lum Kok Organizations: Courts, Bloomberg, Getty, Singapore, Transport Locations: Singapore, Australia, Brompton

☆ Eras Tour: Singapore defends Taylor Swift’s exclusive Southeast Asia stop after neighbors cry foul
▼ + stars: | 2024-03-05 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +5 min

CNN —Singapore is drawing fans from all over Southeast Asia and beyond to Taylor Swift’s Eras Tour, much to the annoyance of the city-state’s regional neighbors. “[Our] agencies negotiated an arrangement with her to come to Singapore and perform and to make Singapore her only stop in Southeast Asia,” Lee said at a press conference in Melbourne while on a state visit to Australia. I don’t see that as being unfriendly.”“If we had not made such an arrangement, would she have come to more places in Southeast Asia? Southeast Asia fans dig deep to see SwiftThe Eras Tour is a multi-continent extravaganza that surged to become the highest-grossing tour of all time – and Swift is making Singapore a lot of money. I never really spent big like six-digit (Philippine peso) amounts for someone else, just Taylor Swift,” Suizo said.

Persons: Taylor, Swift, Joey Salceda, Lee Hsien Loong, “, ” Lee, Edward Tong, ”, Srettha Thavisin, Taylor Swift, hasn’t, Edmund Ong, Yun Liu, Errol De Asis, Gilliane, Christel Kaye Kuan, Yedda Mendoza, ” Suizo, it’s, Granada, That’s Organizations: CNN, Southeast, Singapore –, ”, Singapore, Coldplay, World Bank Locations: Singapore, Southeast Asia, Melbourne, Australia, Bangkok, Thailand, Philippines, Asia, Maybank, ASEAN, Gilliane Granada, China, Granada

BALTIMORE (AP) — A Baltimore County police officer is accused of using excessive force when he pepper sprayed a handcuffed man in the face and closed him inside a hot patrol car, even as the man repeatedly said he couldn’t breathe. A 19-year veteran of the Baltimore County Police Department, Small previously served in the Military Police, according to his attorney. “Like all citizens, Officer Small is entitled to the presumption of innocence,” attorney Brian Thompson said in an email. Small tried to slam the car door, but the man’s knee was in the way. It says the man started gasping, choking and calling for help while kicking the car door to get officers’ attention.

Persons: Zachary Small, Small, Brian Thompson, “, ” Small, yanking, Justin Graham, Moore, Jacob Roos, weren’t, didn’t, ” Organizations: BALTIMORE, Baltimore County Police Department, Military Police, Johns Hopkins Hospital, Officers, Baltimore, Baltimore City Locations: Baltimore

Classes were canceled Monday for schools across Santa Barbara County, which was devastated by mudslides caused by powerful storms in 2018. Evacuation orders and warnings were in effect for mountain and canyon areas of Monterey, Santa Barbara, Ventura and Los Angeles counties. Gavin Newsom declared a state of emergency for Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara and Ventura counties. As of Sunday afternoon, the Los Angeles Unified School District, the nation’s second largest, said it was planning to open schools as usual Monday. ___Associated Press videographer Eugene Garcia in Ventura, Calif., and radio reporter Julie Walker in New York contributed to this report.

Persons: Alexis Herrera, ” Herrera, Ryan Kittell, ”, Lindsay Horvath, ” Horvath, Gavin Newsom, Alberto Carvalho, videographer Eugene Garcia, Julie Walker Organizations: ANGELES, San Francisco Bay Area, Sunday, San Francisco International, Palisades, Central, Gov, Emergency Services, Los Angeles Unified School District, Associated Locations: California, San Francisco Bay, San Jose, Southern California, Santa Barbara, Ventura, Sacramento, San Francisco, Sierra Nevada, Hawaii, Northern California, Monterey, San Luis Obispo County, Los Angeles, LA, Topanga, Soledad, Los Angeles , Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Ventura counties, Southern, Ventura , Calif, New York

☆ Singapore transport minister resigns after being charged with corruption in a first for the city state
▼ + stars: | 2024-01-18 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

CNN —Singapore’s Transport Minister S. Iswaran has resigned after being charged with corruption on Thursday, the prime minister’s office said, confirming a historic development for a city state that prides itself on having a squeaky-clean government. The charges against Iswaran are part of the biggest corruption probe to engulf Singapore’s ruling People’s Action Party (PAP) in decades. Singapore’s anti-graft agency, the Corrupt Practices Investigation Bureau (CPIB), which reports directly to Prime Minister Lee Hsien Loong, has been leading investigations into Iswaran’s case. Lee is the eldest son of Lee Kuan Yew, Singapore’s first prime minister and founding father. The corruption probe into Ong and Iswaran comes at a sensitive time for Lee as he plans to step aside after nearly 20 years leading the country.

Persons: Iswaran, Tan Kiat Pheng, Ong Beng Seng, Ong, Lee Hsien Loong, Lee, ” Lee, Lee Kuan Yew, Singapore’s, ” Eugene Tan, ” Organizations: CNN, Singapore’s, Iswaran, Action Party, Singapore, Prix, Practices, Party, Government, Ong, Singapore Management University Locations: Singapore

☆ Tech CEO Pava LaPere's rape and murder has spurred lawmakers to curb early-release credits for violent sex offenders
▼ + stars: | 2024-01-17 | by ( Glynis Kazanjian | ) www.businessinsider.com time to read: +6 min

Pava LaPere, 26, the founder and CEO of EcoMap Technologies, was raped and murdered in 2023. Her death has spurred Maryland legislators to introduce a law to stop violent offenders from accruing early release credits. Her father, Frank LaPere, told Business Insider that it was time to change the justice system. The Pava Marie LaPere Act would require the Maryland Parole Commission to approve an offender's early release. "This bill is a little different because of Frank [Pava LaPere's father], to be honest," Bates said.

Persons: Pava LaPere, Frank LaPere, —, Jason Dean Billingsley, LaPere, Billingsley, Marilyn Mosby, Ivan Bates, Marie LaPere, Del, Elizabeth Embry, Embry, you've, Bates, Frank, Pava, Jason Billingsley, State's, Mayor Scott, Moore Organizations: EcoMap Technologies, Service, Authorities, State's, Baltimore City, Maryland Attorney General's, EcoMap, Maryland Division, Probation, Baltimore City Police Department, Police, Associated Press, Business, Gov Locations: Maryland, Baltimore, West Baltimore

☆ Singapore, Zurich world's most expensive cities - EIU
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Nov 30 (Reuters) - Singapore and Zurich tied for the world's most expensive city this year, followed by Geneva, New York and Hong Kong, the Economist Intelligence Unit (EIU) said on Thursday as it cautioned that the global cost-of-living crisis was not yet over. Singapore regained the top of the rankings for the ninth time in the past eleven years due to high price levels across several categories. The city state has the world's highest transport prices, owing to strict government controls on car numbers. Zurich's rise reflected the strength of the Swiss franc and high prices for groceries, household goods and recreation, it said. Geneva and New York tied for third place, while Hong Kong was fifth and Los Angeles in sixth.

Persons: Hong Kong, Farah Master, Christopher Cushing Organizations: Economist Intelligence Unit, Singapore, Swiss, New York, Los Angeles, Thomson Locations: HONG KONG, Singapore, Zurich, Geneva , New York, Hong Kong, Geneva, New, Hong, Asia, Nanjing, Wuxi, Dalian, Beijing, Osaka, Tokyo, Japan

☆ Vatican fleet is going all-electric with VW supplying the cars
▼ + stars: | 2023-11-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

The first two vehicles, both VW ID.3 compact electric cars, have already been delivered to the Vatican, VW said. In a separate announcement, the Holy See also pledged to build a charging network within Vatican City and in other areas it controls. The Vatican referred to VW as its first strategic partner in the process to make its fleet carbon neutral. The electrification of its fleet is among a number of projects Vatican City is undertaking to reduce its overall carbon emissions. Contained within the Italian city of Rome, it gained its independence in 1929 through a treaty signed with the Italian dictator Benito Mussolini.

Persons: VW, Pope, Benito Mussolini Organizations: CNN, Vatican, VW, Volkswagen, Catholic Church Locations: Vatican City, Vatican, Italian, Rome

☆ Crypto.com wins Dubai licence
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Nov 14 (Reuters) - Virtual assets exchange Crypto.com's Dubai entity CRO DAX Middle East FZE has received a licence from the city state's regulator, subject to operational approval, the company said in a statement on Tuesday. Once approved, the Virtual Assets Service Provider (VASP) licence will allow Crypto.com to offer various services in-market to retail and institutional investors, including exchange services, broker-dealer services, investment services, and lending and borrowing services, the statement said. “Dubai continues to show it is a leading market when designing effective regulation for the crypto space while still supporting adoption and innovation," Kris Marszalek, CEO of Crypto.com said. With more than 80 million customers globally, Crypto.com announced Dubai as its regional hub for the Middle East and North Africa in March 2022, following a trend of other major industry players gravitating towards the Gulf city state. Reporting by Rachna Uppal; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: DAX, Kris Marszalek, Crypto.com, Rachna Uppal, Michael Perry Organizations: Virtual Assets Service, Assets Regulatory Authority, Dubai International Financial, Crypto.com, Thomson Locations: DUBAI, Dubai, VARA, East, North Africa, Gulf

☆ How Baltimore PD's tactics in handling convicted sex offender Jason Billingsley may have enabled him to kill a tech CEO
▼ + stars: | 2023-10-24 | by ( Glynis Kazanjian | ) www.businessinsider.com time to read: +16 min

At a press conference on Thursday, Sept. 28, Worley defended the department's decision to not alert the public about Billingsley on Sept. 19. "We should have been informed," said Eric Chapman, 31, who lives in the same block where the Sept. 19 attack occurred. "Unfortunately, at a very young age, Jason started to get in trouble with the law," Jasmine Billingsley added. "I think he's a magnet for women," Jasmine Billingsley said. While Jasmine Billingsley was trying to encourage him to improve his life, their mother did not.

Persons: Jason Billingsley, Pava LaPere, Billingsley, ”, —, Jason Dean Billingsley, Louis Schlesinger, Schlesinger, Sigmund Freud, Glynis, Mosby, Jason Rodriguez, Richard Worley, Frank LaPere, Nico LaPere, Caroline Frank, LaPere, Stephanie Scarbrough Stephanie Scarbrough Pava LaPere, Pava, Worley, Marilyn Mosby, Eric Chapman, Chapman, Woody Whitaker, Duvon Bailey, Jasmine Billingsley, Jason, Jasmine, Billingsley's, Natalie Musumeci Organizations: Service, Baltimore City Police Department, John Jay College of Criminal, Baltimore Banner, Police, Baltimore City, Department of Public Safety, Correctional Services, Division, Maryland Office, Public, Baltimore Police, Baltimore, Edmondson Avenue . Police, Baltimore Police Department, Technologies, AP, EcoMap Technologies, West, Tuesday, Baltimore City Council, Associated Press, Spotify Locations: West Baltimore, Maryland, Baltimore, Edmondson, West Franklin, Bowie, Prince George's County , Maryland, Brooklyn

☆ Baltimore to pay $48 million after wrongful convictions, imprisonment of Alfred Chestnut, Ransom Watkins, Andrew Stewart
▼ + stars: | 2023-10-21 | by ( Jay Croft | ) edition.cnn.com time to read: +3 min

CNN —Baltimore has agreed to pay $48 million to three men who were wrongfully convicted of murder as teenagers and spent 36 years in prison. Alfred Chestnut, Ransom Watkins and Andrew Stewart were 16 when they were arrested on Thanksgiving Day 1983, according to the federal lawsuit they filed after being freed. Mary Stewart, left, walks with her son, Andrew Stewart and her daughter, Ulonda Stewart, after his release. Matt McClain/The Washington Post via Getty ImagesBut they were declared innocent decades later, after Chestnut filed a public records request. Investigators “ignored eyewitness evidence and physical evidence that contradicted their chosen narrative, including evidence pointing to a different suspect.

Persons: Justin Conroy, Alfred Chestnut, Ransom Watkins, Andrew Stewart, DeWitt Duckett, Mary Stewart, Ulonda Stewart, Matt McClain, Chestnut, John Doe ”, DeWitt, “, Marilyn Mosby, ”, Baltimore Mayor Brandon Scott, ” Scott, Nick Mosby Organizations: CNN, Baltimore, ” Baltimore Police Department, city’s, Washington, State of, Baltimore City, Baltimore Mayor, Baltimore Police Department, City Locations: State of Maryland

VATICAN CITY (AP) — Two Vatican trials are coming to a head this week and posing uncomfortable questions for the Holy See, given they both underscore Pope Francis’ power as an absolute monarch and the legal, financial and reputational problems that can arise when he wields it. The rationale: The pope hired Milone and then wanted him out, and the court has no right to judge his decisions. For Vatican prosecutors, that amounted to extortion. The Vatican is the lone absolute monarchy left in Europe, with Francis wielding supreme legislative, executive and judicial power. While he delegates that power on a day-to-day basis, he is still pope and what he says goes.

Persons: Pope Francis ’, Libero Milone, Francis, “, ”, Milone, Vatican, Gianluigi, Rene Bruelhart, Tommaso Di Ruzza, didn’t, Monsignor Edgar Pena Parra, Torzi, Pena Parra, Bruelhart, Filippo Dinacci, Di Ruzza, Roberto Borgogno, Di Ruzza's, –, Filippo Di Giacomo, Francis ’ Organizations: VATICAN CITY, Vatican, ” Prosecutors, Prosecutors, Islamic, RAI Locations: London, British, Torzi, Britain, Luxembourg, Vatican, Europe

☆ Citigroup's board to meet in Singapore for the first time since 2011
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange, October 16, 2012. CREUTERS/Brendan McDermid//File Photo Acquire Licensing RightsSINGAPORE, Oct 12 (Reuters) - Citigroup Inc (C.N) said on Thursday that its board of directors will meet in Singapore for the first time since 2011 as a show of commitment to the city state. The meeting will be held next week, and Citi's board and executive management team will meet with clients, staff and regulators during their visit to the Asian financial hub, the bank said in a statement. "The selection of Singapore for this year's board meeting signals Citi's intent to invest and grow our business here for years to come," said Tibor Pandi, Singapore Citi country officer. Singapore has been one of Citi's largest markets globally and is home to one of the bank's four wealth hubs, with staff amounting to some 8,500 in the city-state.

Persons: CREUTERS, Brendan McDermid, Tibor Pandi, Yantoultra Ngui, Stephen Coates Organizations: Citi, Citigroup, New York Stock Exchange, Rights, Citigroup Inc, Singapore Citi, Thomson Locations: Rights SINGAPORE, Singapore, China , Hong Kong

☆ Indonesia defends haze-fighting effort after Malaysia urges action
▼ + stars: | 2023-10-06 | by ( Ananda Teresia | ) www.reuters.com time to read: +3 min

No haze has been detected heading for Malaysia, however, Environment Minister Siti Nurbaya said, a day after it urged Indonesia and fellow Southeast Asian nations to take action against worsening air quality. "We are already working to prevent and extinguish fires, but not based on Malaysia's request," the minister told Reuters. Indonesia is using helicopters to quench the fires with water bombing while inducing rain with cloud seeding methods, Siti Nurbaya said. In 2015 and 2019, such fires burned millions of hectares of land in Indonesia and sent haze billowing across several Southeast Asian countries, generating record-breaking emissions, scientists have said. Southeast Asian agriculture and forestry officials agreed on Friday to take action to minimise, and eventually stamp out, crop burning.

Persons: Antara, Haze, Siti Nurbaya, Nik Nazmi Nik Ahmad, Lax, Rozanna Latiff, Danial, Kanupriya Kapoor, Clarence Fernandez Organizations: ASEAN, Reuters, Malaysian, Association of Southeast Asian Nations, Thomson Locations: Palembang, South Sumatra, Indonesia, ASEAN Indonesia, JAKARTA, cloudseeding, Malaysia, Sumatra, Borneo, Singapore, Malaysian, Danial Azhar, Kuala Lumpur

☆ Singapore: In this expensive city, the right to own a car costs $76,000. And that doesn't include the car
▼ + stars: | 2023-10-05 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

CNN —Owning a car in Singapore, one of the world’s most expensive countries, has always been something of a luxury. Those who want something bigger or flashier – like an SUV – will have to fork out $106,630 (146,002 Singapore dollars) for the Category B license – up from $102,900 (140,889 Singapore dollars). It has put cars out of reach for the average resident of Singapore, where the median monthly household income in 2022 was $7,376 (10,099 Singapore dollars), according to the Department of Statistics. Those who can’t afford a Certificate of Entitlement can also make use of Singapore’s extensive public transport system they point out. Failing that, there is the option of getting a motorbike – permits for which are a relative snip at $7,930 (10,856 Singapore dollars).

Persons: Ricky Goh, “, ”, Wong Hui Min, ” Wong Organizations: CNN, Transport Authority, Department of Statistics Locations: Singapore, Bangkok, Jakarta, Hanoi

SINGAPORE, Oct 3 (Reuters) - Singapore said it was expecting more arrests and seizures as the Asian financial hub investigates one of its biggest cases of suspected money laundering, in which the value of assets seized now stands at S$2.8 billion ($2 billion). The government will set up an inter-ministerial panel to review the anti-money laundering regime, reflecting learning points drawn from the case, she said. She was one of three cabinet ministers responding to almost 60 questions filed by lawmakers on the case. The case had been on the radar of police since 2021, after the filing of suspicious transaction reports by financial institutions, Teo said. "We started investigations because we suspected that offences had been committed in Singapore," Teo added.

Persons: Josephine Teo, Indranee Rajah, Teo, Xinghui Kok, Martin Petty, Clarence Fernandez, Alison Williams Organizations: Thomson Locations: SINGAPORE, Singapore, China

☆ Fugitive founder of crypto hedge fund that lost $10 billion arrested in Singapore while attempting to flee
▼ + stars: | 2023-09-29 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Authorities have arrested crypto fugitive Su Zhu, co-founder of bankrupt digital asset hedge fund Three Arrows Capital, who was apparently attempting to flee Singapore. Zhu and co-founder Kyle Davies have both been sentenced to four months in prison, according to Teneo, the financial advisory firm handling 3AC's liquidation. The Singapore Courts ruled against Zhu for deliberately failing to comply with court orders compelling him to cooperate with Teneo's investigation into creditors' claims and the implosion of the multibillion-dollar fund. At its peak in 2022, 3AC managed about $10 billion in assets, making it one of the most prominent crypto hedge funds in the world. The firm added that it may seek further court orders against him.

Persons: Su Zhu, Zhu, Kyle Davies, Davies, 3AC, Teneo, maximising Organizations: Arrows Capital, Airport, Police, Monetary Authority of Locations: Singapore, Monetary Authority of Singapore

☆ F1 in Singapore: McLaren's Lando Norris says track is 'tough' but eyes top spot this weekend
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: 1 min

Formula One is a demanding sport, and even more so at the Singapore Grand Prix. The city state's street circuit has long been considered one of the hardest tracks to race on in the F1 calendar, being a street circuit and having one of the hottest climates during the night race. However, McLaren driver Lando Norris is confident of his prospects in the Lion City, after a slew of upgrades to the team's MCL60 car resulted in vastly improved results in the second half of the season. McLaren's upgrade package was implemented across the races in Austria, Britain and Hungary. As the updates were being rolled out, he took two straight second position finishes in Austria and Great Britain, and a fourth in Hungary — picking up 48 points in three races, compared to just 12 points in the first eight races of the season.

Persons: Lando Norris Organizations: Singapore, Prix, McLaren, Hungary — Locations: Lion, Austria, Britain, Hungary, Great Britain

☆ A Sculptor Breaks Through, Taking the Walls Down With Her
▼ + stars: | 2023-09-06 | by ( Siddhartha Mitter | More About Siddhartha Mitter | ) www.nytimes.com time to read: +2 min

At MoMA, meanwhile, a new sculpture has gone on extended view in the sculpture garden, titled “S’adossant (Pauline)” or “Reclining (Pauline).” Its three main sections are painted a fleshy pink and suggest a reclining figure. Among past incarnations, they told me, the building was once a depot where the East German army painted tanks before parades. Baghramian is a creature of Berlin arguably more than she is German, having lived in the city stateless for years before receiving citizenship. She spent tedious hours in government offices helping newcomers with paperwork, and worked at the women’s shelter that her sister Louise co-founded. “It was a flux moment,” she said of the 1990s in Berlin, “when things were changing and unstable in a positive way.”

Persons: S’adossant, Pauline, ”, “, I’ve, Baghramian, Michel Ziegler, Louise Organizations: MoMA, East Locations: Berlin, Isfahan, Islamic Republic, Iran, East Berlin, West Berlin

☆ German tourist accused of damaging 16th-century statue in Florence
▼ + stars: | 2023-09-05 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +2 min

CNN —A 22-year-old German man has been detained in Florence accused of damaging a statue in the 16th-century Fountain of Neptune in the Piazza della Signoria, city authorities said in a statement. The city estimates the damage to the statue is around €5,000 ($5,400). The fountain features a statue of the Roman sea god Neptune atop a shell-shaped carriage pulled by horses. The mayor of Florence tweeted a photo of the 22-year-old German tourist, whose face was blurred, posing on the 16th-century Fountain of Neptune in Piazza della Signoria in Florence. In August, German tourists were accused of spray-painting soccer graffiti on a wall of the historic Vasari Corridor nearby.

Persons: Neptune, Florence Mayor Dario Nardella, Francesco Bellini, Cosimo I de Medici, Duke of Florence, Francesco, Duchess Joanna of Austria Organizations: CNN, Florence Locations: Florence, Piazza della, Vasari

☆ Singapore’s central bank boss faces a tough start
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 5 (Reuters Breakingviews) - Central banks pride themselves on being predictable. He is a former deputy to Menon, and currently a permanent secretary at the manpower ministry after spending 18 years in various stints at the central bank. He has led MAS’ financial stability assessment of the city state and completed a two-year secondment to the International Monetary Fund. During his 12-year term, he built up Singapore’s reputation as a global fintech hub and boosted its appeal as a leading financial centre. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ravi Menon, Chia Der, There’s, Chia, Menon, Pernod Ricard, Una Galani, Katrina Hamlin Organizations: Reuters, Monetary Authority of, MAS, International Monetary Fund, X, Thomson Locations: SINGAPORE, Monetary Authority of Singapore, Singapore, China

☆ Singapore picks Chia Der Jiun as central bank head from next year
▼ + stars: | 2023-09-04 | by ( ) www.cnbc.com time to read: +1 min

Singapore named Chia Der Jiun as chief of its central bank on Monday, replacing Ravi Menon, the city state's longest-serving central banker, the Monetary Authority of Singapore (MAS) said. Menon, who turns 59 this year, had been re-appointed as recently in May for two more years in his role but will retire from public service after more than a decade at the central bank, MAS said. Chia, a permanent secretary at Singapore's manpower ministry, had previously spent 18 years at the MAS and led major functions from implementing monetary policy to managing reserves. Singapore's central bank was one of the earliest to tighten monetary policy as the country of 5.6 million exited the COVID-19 pandemic. Regardless of who is at the helm the independence and high standing of the central bank is unlikely to change," said OCBC economist Selena Ling.

Persons: Chia Der Jiun, Ravi Menon, Menon, Chia, Selena Ling Organizations: Monetary Authority of Singapore, MAS Locations: Singapore

☆ China's Country Garden says $100 billion Malaysia project on track
▼ + stars: | 2023-08-28 | by ( A. Ananthalakshmi | ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsKUALA LUMPUR, Aug 28 (Reuters) - Embattled Chinese developer Country Garden (2007.HK) said on Monday its $100-billion project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns over its financial strength. Country Garden is building its largest overseas development, the massive Forest City project, across four reclaimed islands in the southern Malaysian state of Johor bordering the wealthy city state of Singapore. Malaysia's incentives should be "very positive" for Country Garden, said Steven Leung, Hong Kong-based director of UOB Kay Hian. Shares of Country Garden were up more than 8% on Monday.

Persons: Aly, Anwar Ibrahim, Anwar, Loong Kok Wen, Steven Leung, UOB Kay Hian, Clare Jim, Martin Petty, Clarence Fernandez Organizations: Shanghai Country Garden, REUTERS, HK, Malaysian, . Forest, Esplanade, Thomson Locations: Shanghai, China, KUALA LUMPUR, Malaysia, Singapore, Forest, Malaysian, Johor, Forest City, Hong Kong

☆ Malaysia's domestic banks have limited exposure to Country Garden -cbank
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fathin Ungku/File Photo Acquire Licensing RightsSINGAPORE, Aug 28 (Reuters) - Malaysia's central bank said on Monday that banks incorporated in the Southeast Asian nation faced limited financial stability risk arising from exposure to China's largest property developer, Country Garden (2007.HK). Such banks' exposure to Country Garden Real Estate Sdn Bhd (CGRE), the developer's wholly-owned subsidiary in Malaysia, amounted to less than 0.1% of total banking system loans and bonds by June 2023, the bank told Reuters in an email. "In the property sector, risks from unsold units from CGRE’s various projects in the country remain manageable," it added. "The current development with Country Garden Holdings Ltd in China is not expected to pose any material impact on the overall property market activity and prices in Malaysia," it said. Country Garden is building its largest overseas development, the massive Forest City project, across four reclaimed islands in the southern Malaysian state of Johor bordering the wealthy city state of Singapore.

Persons: Fathin, Anwar Ibrahim, Yantoultra Ngui, Clarence Fernandez Organizations: REUTERS, Rights, HK, Garden, Sdn, Reuters, Bank Negara, Garden Holdings, Malaysian, Thomson Locations: Forest City, Johor, Malaysia, Bank, Bank Negara Malaysia, Malaysian, China, Forest, Singapore

☆ In a rare win, a migrant worker sued his bosses in Singapore. And won
▼ + stars: | 2023-08-26 | by ( Heather Chen | ) edition.cnn.com time to read: +11 min

In July, 26 men were taken to hospitals after three lorries, two ferrying migrant workers, collided on a major highway. Migrant workers sit in the back of a lorry in Singapore on May 15, 2020. Suhaimi Abdullah/NurPhoto/Getty ImagesSingapore is home to about 1.4 million migrant workers, nearly a quarter of its population. “Recent tragic incidents have highlighted the continued grave risks posed by transporting migrant workers on lorries,” the statement read. Still, victories for migrant workers are rare, said local civil rights activist Jolovan Wham and a worker taking on his powerful employer was almost unheard of.

Persons: Murugan, Muhamad Ashraf Syed Ansarai, “, ” Ansarai, ”, – Toffazal Hossain, Sugunan, Edgar Su, Transport Amy Khor, ” Khor, Khor, Tan May Tee, ” Tan, ” “, Suhaimi Abdullah, Jolovan, Wham, ” Murugan, “ He’s, It’s Organizations: CNN, Singapore Civil Defence Force, Labor, ”, State, Ministry, Transport, “ Employers, Rigel Marine Services, Reuters, Getty, Singapore, Workers, Ministry of Transport, Singapore’s Ministry of Transport Locations: India, Singapore, Tamil Nadu, Bangladesh, China, Vietnam, ”, alighting

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