Infoblaze Southeast Asia, Singapore (2024)

06/11/2024

Banque de France and Monetary Authority of Singapore Conduct Groundbreaking Post-quantum Experiment to Enhance Communication Security

The Banque de France (BdF) and the Monetary Authority of Singapore (MAS) announced the successful completion of a groundbreaking joint experiment in post-quantum cryptography (PQC) conducted across continents over conventional Internet technologies. The PQC experiment aims to strengthen communication and data security in the face of quantum computing advancements, and the successful experimentation marks a crucial milestone in the evolution of the protection of international electronic communications against the cybersecurity threats posed by quantum computing.....
https://bit.ly/3YUKf1S

Banque de France

03/11/2024

Closing the loop | A*STAR lends its support to national development goals for a more circular economy

Through advanced chemistries in materials and process engineering, A*STAR lends its support to national development goals for a more circular economy.

Our modern world is built on the idea of ‘take, make and dispose’. Consider the plastic water bottle: starting as crude oil extracted from the earth’s crust and subjected to carbon-emitting industrial processes, most of the 600 billion bottles that roll off factory lines each day are thrown away after just one use.

“Most products go through the ‘linear economy’; a one-way flow through extraction, production, use and end-of-use,” said Angeline Ong, Deputy Director of A*STAR’s Science and Engineering Research Council (SERC).

“With the global threat posed by climate change, we not only need to transition from fossil fuels to low-carbon alternatives as feedstocks for material goods, but to also bring circularity to how we make these goods.

”‘Circularity’ is more than simply keeping our goods out of landfills; it’s about minimising waste by making the most of products, materials and resources, adds Lean Weng Yeoh, A*STAR Chief Sustainability Officer....
https://bit.ly/3YLvgaH

Agency for Science, Technology and Research (A*STAR)

31/10/2024

MAS Announces Establishment of Global Finance & Technology Network for Next Phase of FinTech Growth

The Monetary Authority of Singapore (MAS) today announced the establishment of the Global Finance &Technology Network (GFTN)[1] to further strengthen Singapore as a global FinTech hub and enhance global connectivity for impactful innovation in financial services.

The first phase of FinTech growth in Singapore was driven by experimentation, as well as promotion of key initiatives to harness technology and innovation in the financial sector. These included developing a regulatory sandbox framework, establishing cross-border payments linkages, piloting digital assets and tokenisation, and promoting Artificial Intelligence (AI) adoption as part of MAS’ goal to develop Singapore as a Smart Financial Centre. A key highlight has been the growth of the Singapore FinTech Festival (SFF), which has become the largest platform for the global FinTech community to collaborate on catalysing technology and innovation in finance......
https://bit.ly/4f3mB9n

30/10/2024

BIS and Central Bank Partners Demonstrate That Policy Compliance Can Be Embedded in With

- Project Mandala addresses the significant challenges in maintaining compliance with disparate regulatory and policy frameworks across jurisdictions.

- Project Mandala successfully demonstrates the automation of compliance procedures for cross-border financial transactions.

- Project Mandala is a collaboration between the BIS Innovation Hub, the Reserve Bank of Australia, the Bank of Korea, Bank Negara Malaysia and the Monetary Authority of Singapore.

The Bank for International Settlements (BIS) and its central bank partners have successfully demonstrated with Project Mandala that regulatory compliance can be embedded in cross-border transaction protocols.

This experimental project is a collaboration between the BIS Innovation Hub Singapore Centre, the Reserve Bank of Australia, the Bank of Korea, Bank Negara Malaysia and the Monetary Authority of Singapore.

The project, which has now reached proof of concept stage, aligns with the G20 priority actions for enhancing cross-border payments, as it has the potential to reduce costs and increase transaction speed, while preserving regulatory compliance.“Mandala is pioneering the compliance-by-design approach to improve cross-border payments without compromising privacy or the integrity of regulatory checks,” said Maha El Dimachki, Head of the BIS Innovation Hub Singapore Centre....
https://bit.ly/3UvskMN

A collab. between the BIS Inno. Hub
Reserve Bank of Australia

29/10/2024

Emirates signs strategic MoUs with &
strengthening connectivity and offering more travel choices between Dubai and &

Airline reinforces commitment to Vietnam through deepening its presence, improving connection opportunities, and supporting trade and tourism links

Emirates has signed two Memorandum of Understandings (MoUs) with Vietnam Airlines and VietJet, aimed at strengthening connectivity and offering more travel choices between Dubai and its Vietnamese gateways Ho Chi Minh City and Hanoi.

The MoUs were signed on the sidelines of the Vietnam - UAE Business Forum, held at the Hilton Dubai Palm Jumeirah hotel in Dubai on 28 October. Adnan Kazim, Emirates' Deputy President and Chief Commercial Officer attended the signing ceremony along with government leaders, ministers, and business representatives from both countries. Orhan Abbas, Emirates’ Senior Vice President Commercial Operations, Far East delivered a keynote highlighting the airline’s commitment to deepening its presence in Vietnam, a market it has been serving since 2012, supporting trade and tourism links between the UAE and Vietnam, as well as offering customers convenient travel options.....
https://bit.ly/3Adms3X

Emirates
Vietnam Airlines
Vietjet Vietnam

28/10/2024

IHO-Singapore Lab conducts trials of next generation Charting Standards

The International Hydrographic Organization-Singapore Innovation and Technology Laboratory Trials Next Generation Charting Standards Aboard Italian Navy's Training Ship AMERIGO VESPUCCI

The International Hydrographic Organization (IHO)-Singapore Innovation and Technology Laboratory (IHO-Singapore Lab) is conducting trials of next generation IHO S-100 standards and dual format Electronic Navigational Charts (ENCs) on a prototype S-100 Electronic Chart Display and Information System (ECDIS) aboard the Italian Navy's training ship, AMERIGO VESPUCCI. This is also known as the “Dual Fuel” mode within the international hydrographic community, where S-100 ECDIS supports both current S-57 and new S-101 ENC formats.......
https://bit.ly/3Ag9xOA

International Hydrographic Organization IHO
AMERIGO VESPUCCI 🇮🇹

Via mpa.gov.sg

25/10/2024

MAS and IMDA Announce Implementation of Shared Responsibility Framework from 16 December 2024

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority of Singapore (IMDA) today announced that the Shared Responsibility Framework (SRF) for phishing scams, which was published for consultation on 25 October 2023[1], will be implemented on 16 December 2024.

MAS and IMDA had proposed a SRF which assigns financial institutions (FIs) and telecommunication companies (Telcos) relevant duties to mitigate phishing scams, and sets expectations of payouts to affected scam victims where these duties are breached. Comments were sought on the scope of the SRF, duties of FIs and Telcos under the framework, and the approach for payouts for scam losses, among others.....
https://bit.ly/48m5NYw

Infocomm Media Development Authority of Singapore

22/10/2024

Well-known consumer electronics giant Dyson is expanding into haircare and beauty products, with its first haircare product line, Chitosan, launched in Singapore in late August.

Chitosan is a range of hair treatment products created to maintain the hair’s natural movement and shine while removing stiffness. It is suitable for all hair types.....
https://bit.ly/4hcZjiF

Colin Tan
Vla straitstimes.com

18/10/2024

Questions to be answered in the -Income saga

A plan for German insurer Allianz to buy a majority stake in Singapore’s Income Insurance went awry when a key piece of information belatedly came to light. Allianz’s plan to return $1.85 billion in cash to shareholders within three years after the transaction in a capital reduction exercise proved to be a sticking point, prompting the Government to urgently pass new laws on Oct 16 to halt the deal.....
https://bit.ly/3Nv9j9l

Angela Tan | Kang Wan Chern
Via straitstimes.com

17/10/2024

Business Continuity Exercise to Bolster Singapore Financial Sector’s Operational Resilience

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) jointly conducted today a business continuity exercise with financial institutions to strengthen the financial sector’s crisis management and operational resilience.

Codenamed “Exercise Raffles”, this seventh edition of the exercise included 20 key financial institutions from the banking, payments, securities and insurance sectors. Participants were put through simulated exercise scenarios ranging from IT outages, cyber-attacks and operational disruptions.....
https://bit.ly/4dSA5D

Association of Banks in Singapore

14/10/2024

Singapore economy grows 4.1% year on year in Q3; 2.1% sequentially

Manufacturing rises 7.5% on the year, reversing from the 1.1% fall in the previous quarter

SINGAPORE’S economy grew 4.1 per cent year on year (yoy) in the third quarter of 2024, an improvement from the previous quarter’s 2.9 per cent growth, advance estimates from the Ministry of Trade and Industry (MTI) showed on Monday (Oct 14) morning....
https://bit.ly/3NpCTwR

Tessa Oh
Via businesstimes.com

11/10/2024

Vietnam Govt. ratifies 'Digital infrastructure strategy by 2025, towards 2030'

Permanent Deputy Prime Minister Nguyen Hoa Binh signed a Decision approving the digital infrastructure strategy through 2025, with an orientation towards 2030.

The strategy targets that by 2025, all Vietnamese households will be able to access fiber optic cable services while all the localities nationwide, high-tech parks, centralized information technology parks, research and development and innovation centers, industrial parks, train stations, seaports, and international airports will have access to 5G coverage.

By 2025, at least two new international undersea fiber optic cable routes will be put into operation. Viet Nam will set up Artificial Intelligence (AI) data centers and develop new data centers that meet green standards in which the Power Usage Effectiveness (PUE) does not exceed 1.4....
https://bit.ly/3Y5qPG2

Via en.baochinhphu.vn

11/10/2024

At least S$6.7 million lost to government official scams in September

The scammers would hold video calls dressed as police or Monetary Authority of Singapore officers, and produce fake badges to lend credence to their deceit.The authorities warned on Thursday (Oct 10) of a rise in government official impersonation scams, with at least S$6.7 million (US$5.1 million) lost in September.....
https://bit.ly/3YkfbIM

Via www.channelnewsasia.com

10/10/2024

-maker to set up office in Singapore, focus on advancing regional tie-ups

ChatGPT-maker OpenAI, the San Francisco-based company synonymous with bringing generative artificial intelligence (AI) into the spotlight, will open its second office in Asia in Singapore later in 2024.

The Singapore office – the company’s fourth international branch – will focus on advancing regional collaboration, including work with national programme AI Singapore on generative AI models that are tuned to understand and reflect cultures and languages in South-east Asia....
https://bit.ly/4dWIAxr

Osmond Chia
Via straitstimes.com

08/10/2024

Is Hydrogen the Answer to a Future?

Singapore aims to peak carbon emissions by 2030 and achieve net-zero emissions by 2050. To reach this goal, the power sector continues to push forward in decarbonising its energy supply and transforming its fuel mix through multiple pathways, including exploring hydrogen as a promising low-carbon alternative.

Hydrogen is considered a clean fuel as its combustion produces water as a by-product, unlike fossil fuels, which release carbon dioxide when burned.

But is hydrogen as clean as it seems? If hydrogen is such an environmentally friendly option, why is it not used for power generation just yet? Here’s what you need to know about hydrogen and how Singapore is assessing its potential.

Hydrogen is not as new as you think it is.

For decades, hydrogen has been used in various industrial processes, such as refining feedstock and producing fertilizers for agriculture. In countries like China and Japan, it is increasingly used in the transportation sector to power heavy goods vehicles and passenger car.Using hydrogen to produce electricity is not new either. There are established technologies such as gas turbines and fuel cells that run on hydrogen. Countries including Singapore are actively exploring its use for power generation.
Transporting hydrogen is a key and challenging step for power generation (for now).

Clean hydrogen is produced through electrolysis of water using renewable energy sources like wind and solar.

However, large-scale production of clean hydrogen has not yet been established due to high investment and capital costs, along with the substantial resources needed for new infrastructure. Additionally, producing clean hydrogen is energy-intensive.....
https://bit.ly/3TZAYDc

Energy Market Authority

07/10/2024

Voluntary carbon market activity essential to Singapore’s Green Plan

The voluntary carbon market has been in the doldrums for two years amid doubts among buyers over the integrity of the process, noted industry experts.

They told The Straits Times that most were deterred by a 2023 report in The Guardian, which found that more than 90 per cent of the carbon credits on registry Verra were “phantom”....
https://bit.ly/3XSGY1r

Alyssa Woo
Via straitstimes.com

05/10/2024

in talks for US$1 billion-plus stake in India’s biggest maker

TEMASEK is in talks to buy a minority stake in Haldiram Snacks, sources familiar with the matter said, a transaction that may value India’s biggest snack maker at about US$11 billion.

The Singapore investment company is holding preliminary talks to buy from 10 to 15 per cent in Haldiram, the sources said, asking not to be identified because the matter is private....
https://bit.ly/4gUmFJW

Via businesstimes.com

03/10/2024

AI cuts jobs in 8% of firms; upskilling to stop shedding

The Information Technology and Business Process Association of the Philippines (IBPAP) reported on Wednesday that 8 percent of its surveyed members reported a headcount reduction due to artificial intelligence (AI), but said it is optimistic that the number will not rise in the coming years.

At the 16th IT-Business Process Management (BPM) Summit in Parañaque Wednesday, IBPAP president Jack Madrid said there are more companies that reported headcount gains, or 13 percent of IBPAP members accounting for over 800,000 full-time employment (FTE) in the industry.

Madrid told reporters on the sidelines of the event that the 8 percent that reported a reduction only comprised five companies out of the 60 surveyed firms.The IBPAP chief said he expects that the number of companies that lose jobs to AI will not increase if ITBPM firms will continue to retrain and upskill their talent pool....
https://bit.ly/4dvpJZN

Kris Crismundo
Via PNA

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