Singapore tightens anti-money laundering rules; S’pore-based Dyson to cut 1,000 job: Singapore live news
.July 14, 2024
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Hello to all our readers, Yahoo Singapore will be bringing you live news updates today.
The Monetary Authority of Singapore (MAS) is enhancing its anti-money laundering measures by standardising banks’ verification processes for fund sources during account openings through collaboration with local and global banks. Read more about the initiative here.
Dyson announces plans to reduce its United Kingdom workforce by about 1,000 jobs in a restructuring move. Despite the cuts, the company will retain its UK R&D hub, focusing on global growth. Read more about the redundancies here.
Airbnb fails to protect guests from hidden cameras, settling cases quietly, often without law enforcement, leaving victims fearful and traumatised. Find out more here.
A group of “mystic” meerkats that accurately predicted England’s success throughout the Euro 2024 tournament so far, picked England again to triumph against the Netherlands in their semi-final match. Find out if their streak of accurate predictions will continue here.
Hell’s Museum at Haw Par Villa in Singapore offers a unique theme park experience with graphic depictions of hell and various religious views on the afterlife. The park features over 1,000 statues and dioramas to illustrate punishments for sins from different Asian religions and philosophies. Despite its gory and intense exhibits, Hell’s Museum aims to provide a deeper understanding of moral values and cultural stories familiar to many Singaporeans. Read more here.
The mummified body of American mountain climber William Stampfl, missing for 22 years after an avalanche, was discovered at Mount Huascaran in the Andes. Stampfl was found well-preserved due to climate-change-induced ice melt, with his passport used for identification. The discovery of Stampfl’s body makes him at least the third person found dead in the Cordillera Blanca mountain range this year. Read more here.
Visitors to Denmark’s capital Copenhagen who engage in eco-friendly activities such as picking up trash or riding public transportation could be rewarded with free food and cultural experiences as part of a pilot programme. More about its sustainability push here.
Scientists have discovered that the distant exoplanet HD 189733 b, located 64 light-years from Earth, contains hydrogen sulphide, a gas that smells like rotten eggs. More on the discovery here.
The container ship congestion in Singapore is now spreading to Malaysia, causing delays in the movement of consumer goods. Congestion at the shipping terminals could last through August, analysts have said. More on the maritime logjam here.
For the first time in a decade, Temasek Holdings’s investments in China are now smaller than those in the Americas. As of March 2024, investments in China comprised 19 per cent of their portfolio. Meanwhile, investments in the Americas made up 22 per cent of assets. Read more here.
Scientists in Borneo are investigating the spread of monkey malaria, a zoonotic disease complicating Malaysia’s malaria eradication efforts due to deforestation and close contact between humans, monkeys, and mosquitoes. Read more about the growing threat here.
If you’ve seen a video of Singapore’s former prime minister Lee Hsien Loong making its round on social media that falsely claimed it shows him remarking on international relations, well, it’s fake news, according the Singapore prime minister’s office. Fact check here.
AirAsia has been recognised as the world’s best low-cost airline for an unprecedented 15th year in a row. See the top 20 list here.
LIVE COVERAGE IS OVER13 updates
Copenhagen offers tourists who pick up litter free food and coffee
Would free meals, coffee and cultural tours be enough incentive for you to go green while visiting Copenhagen? (Photo by Volha Shukaila/SOPA Images/LightRocket via Getty Images)
Visitors to Copenhagen could be rewarded with free food and cultural experiences by participating in environmentally-friendly activities in a pilot programme.
From 15 July, the programme incentivises actions like litter picking, cycling, and volunteering at urban farms with access to guided museum tours, kayak rentals, and more.
Wonderful Copenhagen aims to empower people to enjoy the city’s offerings while reducing environmental impact, with the potential for the program to become year-round if successful.
The scheme, which is designed to counterbalance the environmental “burden” of tourists flying to Copenhagen, is described as a “little step towards the green transition”.
Singapore-based Dyson announces plan to cut about 1,000 jobs
Dyson is set to cut 1,000 jobs in the UK, almost a third of its local workforce, as part of a broader restructuring strategy under new CEO Hanno Kirner. REUTERS/Edgar Su
Dyson plans to cut around 1,000 jobs in the United Kingdom, nearly a third of its workforce there, as part of a broader restructuring strategy.
The company said it is reviewing its global structure to prepare for future challenges, which has led to the proposed redundancies.
Despite the job cuts, Dyson intends to keep its research and development hub in the UK.
The company employs 3,500 people in the UK and has a global workforce of 14,000.
In recent years, more than half of Dyson’s sales have come from the Asia Pacific region.
To support this growth, Dyson has increased its manufacturing presence in countries like Singapore and the Philippines.
In 2019, founder James Dyson announced the relocation of the company’s headquarters from the UK to Singapore.
The Monetary Authority of Singapore (MAS) is partnering with banks to create uniform standards for verifying clients’ fund sources, addressing gaps highlighted by a recent $3 billion money laundering scandal. REUTERS/Edgar Su/File Photo
The Monetary Authority of Singapore (MAS) is collaborating with both local and global banks to establish uniform standards for verifying the sources of funds during account openings.
Although the existing regulations are stringent, the initiative is in response to the need for stronger anti-money laundering measures after the recent $3 billion money laundering scandal implicated over a dozen banks, which highlighted significant gaps that needs addressing.
The MAS has formed a group comprising representatives from various banks, who will meet bi-monthly to develop these best practices by the end of the year.
There are inconsistencies in how banks document and validate the sources of their clients’ assets.
The new standards aim to standardise these processes across all banks to ensure a more robust defence against money laundering activities.
Video of former Singapore PM Lee Hsien Loong ‘cautioning US-Taiwan ties’ is fake
Singapore’s Prime Minister Lee Hsien Loong previously warned that “deepfake” videos shared online showed him “supposedly commenting on international relations, foreign leaders, and other subjects”. (AP Photo/Alastair Grant)
An edited video circulated on social media falsely claimed that former Singapore Prime Minister Lee Hsien Loong warning Taiwan against strengthening relations with the United States to counter China.
The original video shows Lee giving a speech in 2019 to mark Singapore’s National Day. He did not mention Taiwan in his speech.
The Singapore prime minister’s office confirmed that the video being shared on social media was “fake”.
Singapore previously said countries should not be made to choose between China and the United States.
Singapore’s Temasek China investments smaller than Americas for first time in a decade
US will remain the largest destination for Temasek as they continue a cautious approach to China. (Photographer: Nicky Loh/Bloomberg)
For the first time in a decade, Temasek Holdings Pte’s investments in China are now smaller than those in the Americas.
In 2020, investments in China made up 29 per cent of the Singapore state-owned investor’s portfolio. As of March 2024, it has dropped to 19 per cent. Meanwhile, investments in the Americas made up 22 per cent of assets, second only to Singapore at 27 per cent.
US will remain the largest destination for the firm’s capital as they continue a cautious approach to China.
“I can only see US-China tensions go up, not go down from here,” Chief Investment Officer Rohit Sipahimalani said in a Bloomberg Television interview.
Container ship congestion in Singapore spreads to neighbouring Malaysia
The container ship congestion in Singapore and Malaysia is being caused by vessels avoiding the Suez Canal and Red Sea due to attacks by Houthi rebels. (Photo: Aparna Nori/Bloomberg)
The container ship congestion in Singapore is now spreading to Malaysia, causing delays in the movement of consumer goods.
Around 20 container vessels are anchored in a cluster off Port Klang, on the western coast of Malaysia near Kuala Lumpur. Port Klang is an important terminal, given its proximity to Kuala Lumpur, but a queue of this magnitude is rare, with ship-tracking images showing many vessels unloading at its berths.
The maritime logjam is being caused by ships avoiding the Suez Canal and Red Sea due to attacks by Houthi rebels.
Congestion at the shipping terminals could last through August, analysts have said.
Scientists are delighted to find exoplanet HD 189733b stinks of rotten eggs. (via REUTERS)
Scientists have discovered that a distant exoplanet, located 64 light-years from Earth, contains hydrogen sulphide, a gas that smells like rotten eggs.
Using the James Webb Space Telescope, astronomers say the hot Jupiter exoplanet HD 189733 b gives a stench of rotten eggs due to the presence of hydrogen sulphide in its atmosphere.
This finding not only deepens our understanding of this intensely hot gas giant but also enhances the understanding of planet formation and aides in the search for alien life.
US mountaineer found mummified in Peru 22 years after vanishing in avalnche
William Stampfl was reported missing in June 2002, aged 59, after an avalanche overwhelmed his climbing party on Peru’s Huascaran mountain (Handout/Peruvian National Police/AFP News)
The mummified remains of an American mountain climber who went missing in an avalanche in Peru were discovered 22 years after he vanished.
William Stampfl’s body was found well-preserved by ice melt, still wearing his boots and harness.
His body was identified by a passport found among his belongings, making him the latest in a series of discoveries of missing adventurers in the Andes this year, following an Italian climber and an Israeli man.
The discovery of Stampfl’s body comes amid a global trend of glaciers melting and receding due to accelerating climate change, with five bodies found frozen in ice on Mount Everest last month.
Experience hell on Earth at Singapore’s Hell’s Museum
Hell’s Museum at Singapore’s Haw Par Villa offers vivid depictions of hell and insights into diverse religious views on the afterlife. (Photo: Roslan RAHMAN/AFP News)
Hell’s Museum at Haw Par Villa in Singapore features graphic depictions of hell and diverse religious views on the afterlife.
Showcasing over 1,000 statues, it educates visitors on the “10 Courts of Hell” from various Asian philosophies.
Despite its intense displays, the park aims to attract younger visitors through rave parties and events.
The park also features Chinese folklore, but its hellish exhibits remain the main attraction. While some visitors appreciate its unique approach, others find it too frightening.
‘Mystic meerkats’ predict England’s Euro 2024 victory over the Netherlands
A group of meerkats at Drusillas Park in East Sussex has predicted England will triumph over the Netherlands in the Euro 2024 semi-final.
The meerkats, known for their “psychic powers,” have accurately predicted England’s victories throughout the tournament.
England is set to play the Netherlands in the semi-final after a dramatic penalty shoot-out victory against Switzerland.
The predictive meerkats have garnered attention for their accurate forecasts, making this upcoming match highly anticipated.
Will the meerkats’ prediction come true? Find out more here.
Airbnb fails to protect guests from hidden cameras
Hidden cameras in Airbnb rentals leave guests fearful and traumatised. (Photo: Getty Images)
Airbnb is facing serious scrutiny for failing to protect guests from hidden cameras in rental properties.
In numerous cases, guests have discovered surveillance devices capturing their most private moments.
The problem of hidden cameras in Airbnb rentals has been highlighted by numerous lawsuits and police investigations.
Despite this persistent issue, Airbnb often settles these complaints quietly and does not routinely notify law enforcement, even when children are involved.
Instead, they sometimes contact hosts, which can hinder investigations by allowing suspects time to destroy evidence.
Find out more about the privacy concerns at Airbnb rentals here.
