Commentary

Singapore's new payments rules aim to put consumers first

The recently announced Payment Services Act by the Singapore government seeks to address the balance between supporting the shift to a cashless society, enabling technology companies to run fast and develop innovative new solutions, whilst at the same time protecting the public.

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Singapore's new payments rules aim to put consumers first

Commentary

How can Singapore address the cyber security skills gap?

Singapore’s growing dependence on technology, coupled with the expanding scale of its national digital environment, exposes it to a broad range of sophisticated threats. The profile of attackers range from state-sponsored hackers to tech-savvy criminals. Their existence has also contributed to the growing fear of a skills gap, limiting the effectiveness of the existing cyber security teams.

Commentary

How the gig economy is fueling business expansion

According to the Economic Development Board, there are roughly 37,400 international companies operating out of Singapore, which includes 7,000 multinationals, attesting to the fact that Singapore has steadily made a name for itself in recent years as a hub for businesses big and small. Much of this growth can be attributed to the country’s innovation-led economy, generous tax regime, labour laws and a strong emphasis on supporting businesses of all sizes.

Commentary

Navigating Crypto: Singapore Tackles ICO Concerns with Tighter Regulation

A thriving fintech capital, Singapore has always taken a supportive stance on emerging technologies, and its positive inclination towards cryptocurrencies and blockchain is no exception. However, as issues surrounding security, fraud, and regulation remain at the forefront of crypto conversations, mainstream adoption has dwindled – both in the Lion City and as part of a much larger, global conversation.

Commentary

Last-Mile Challenges in Singapore's Food E-Commerce Industry

It’s hard to remember a time when people could “shop” off catalogues that came in the mail, or phoned-in to order from a TV shopping program. There were much less variety to choose from, and things generally took a little longer to arrive. What’s more, the potential for damaged or lost goods were also much higher back then.

Commentary

Banning sugar products in Singapore may not be the best idea

The Ministry of Health is currently considering measures to reduce Singaporeans’ consumption of sugar which is a factor in obesity and diabetes here. These include a total ban on the sales and advertising of high-sugar drinks, mandatory labelling as well as a tax.

Commentary

Developers: Singapore retailers' secret weapon for the holiday season

As savvy shoppers look to the internet for their deals, the last quarter of the year is increasingly a crucial period for online retailers in Singapore. A runway of shopping festivals -- beginning in September with 9/9 followed by Singles Day in November, and then 12/12 -- is eclipsing the traditional Christmas shopping season.

Commentary

Belt and Road: Singapore's rise in dispute resolution

Whilst China has been working on launching its Belt and Road initiative, the immensely ambitious undertaking of construction and infrastructure projects set to span over 60 countries, Singapore has been working on improving its own infrastructure. With the guiding hand of its government and state incentives, the country has transformed itself into a global state-of-the-art legal hub. The two are now perfectly poised to benefit one another, not least from a legal perspective, where Singapore’s rise in dispute resolution has seen it emerge as the preferred seat in the region.

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The global war for talent can be won with good policies

Singapore tops Asian countries in Global Talent Ranking report which assesses the extent to which countries develop, attract and retain talent to sustain the pool that enterprises employ to create long-term value.

Commentary

How Singapore enterprises can rise to the digitalisation challenge

These days, it is hard to avoid the topic of digitalisation when you read any expert commentary, business book, or newspaper headline. The benefits from technologies such as Internet of Things, Big Data Analytics, Robotic Process Automation, and AI-enabled chatbots are clear: Firms can save costs from automating manual processes, gain deeper, real-time insight into their customers, and rapidly scale their reach to new markets. Yet, many enterprises are still concerned about how they can participate fully in a digital economy.

Commentary

S-VACC: A milestone for fund management in Singapore

The upcoming introduction of the Singapore Variable Capital Company (S-VACC or VCC) is a significant event in Singapore’s asset management landscape. After a consultation process run by the Monetary Authority of Singapore (MAS), the VCC Bill was passed in Parliament on 1 October 2018. It is expected to come into effect in 2019 following the legislative process.

Commentary

Travel expenses, the new frontier for compliance

Corporate budgets for travel and expenses (T&E) have grown exponentially over the past decade, thanks to the globalisation of trade. This growth shows no sign of abating despite sophisticated technologies from video conference and collaboration tools, as face-to-face interaction remains the preferred form of business meetings. Singapore business travellers are amongst the region’s busiest – in fact, three of the top five business travel routes in APAC originate from Singapore according to our traveller data.

Commentary

Is Singapore's demographic a ticking time bomb for businesses?

This generation is living longer than ever before. In Singapore, life expectancy at birth for men is 80 and women is 85 (as of 2015). This is compared to a life expectancy of 59 for men in 1960 and 63 for women. Medical innovations, as well as more awareness of how to live healthily and the importance of having an active mind are often attributed to our longer lives.

Commentary

The Instagram shake-up: What businesses need to know

On the whole, Singapore has a high (84%) penetration of internet users (4.83M), with 83% (4.8M users) who are on social media, and 95% of these social media users accessing social media sites daily. That’s really high.

Commentary

Email: Boon or Bane for Singapore?

Singapore is now a prime target for cyber criminals. Most recently, the country witnessed its largest personal data breach in history when a cyber attack on Singapore’s largest healthcare group SingHealth’s database put the information of 1.5 million people, including Prime Minister Lee Hsien Loong, at risk. Singapore also battled nearly five times more cyber attacks than the US or Canada during the Trump-Kim Summit in June.

Commentary

The rise of cryptocurrency malware and ways to reduce risks

Being in the epicentre of exchange and commerce means that Singapore must rely on and keep up with technology. However, this dependence can make our Little Red Dot more vulnerable to cyberthreats and attacks than ever before.

Commentary

People powered future: Why we all need to champion tomorrow's talent

Singapore is facing an inherent 30% talent shortage, particularly in the industries of Fintech, where the government set the goal of adding 1,000 jobs per year and pledged to invest S$225 million over five years, and manufacturing, as the development of smart technologies demands an evolving skill set from engineers.

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