Get up to speed and stay smart with the latest business, tech, and local news in under 2 minutes.
Business
SME funding an issue no more. MAS rules change allowed SMEs to enjoy more relaxed restrictions in terms of funding, with 3 major listed finance firms loaning a total of almost $7 billion to SMEs as of the second quarter of last year.
Funds have set aside $2 billion to weather the storm from imminent “energy market rally as a historic OPEC output cut slashes supply.” This shift of funds from far-term to address near-term concerns might be able to end the 2 years global oil glut.
World
Trump cancelled talks with North Korean officials after the VX nerve agent, which is considered a weapon of mass destruction by the UN, was identified to be used to assassinate Kim Jong Nam.
Singapore and China exchanges an economic handshake in 2 upcoming transport connectivity projects. One of the projects aims to open up a new “shortcut” route which will significantly shorten the distance and lower logistics costs, allowing the whole of China to bypass the Three Gorges Dam.
Local
Let’s go faster, said PM Lee. He lamented at a technology talk this week that Singapore’s digital systems aren’t advanced enough, proposing a mobile digital ID system that would allow us to “sign, identify, access and transact” – performing all kinds of transactions just with our mobile SIM card.
The new Uber for Bicycles? ofo, China’s bicycle-sharing company has been illegally offering bicycle rentals at some public parks without paying rent, arousing the ire of some of its Singapore’s counterpart.
Better to be safe than sorry. As part of the Active Mobility Act, the Safe Riding Programme will include a practical component that educates cyclists and riders by stimulating various scenarios they might face in their path.
#SGPride at the Oscars for her works for “La La Land”. Singaporean Lee Ai Ling is up for 2 sound-editing nominations. Ai Ling will be the first Asian woman to be nominated for sound editing.
Tech
Siri’s about to lose her job. Google will bring “Assistant” to Android phones that were previously only available on their own Google Pixel. LG was one of the first smartphone makers to reveal this feature.
Sort the rainbow before you taste it. If the colours of the mixed colours skittles drive you mildly insane, worry no more as technology is here to save you from your life woes.