The Afternoon Update with Lynlee Foo

In 2022, Singapore's digital economy contributed S$106 billion, or 17% of GDP.  According to McKinsey’s recent global survey, the adoption of generative AI has nearly doubled within a year, with 65% of organisations now using it regularly. While Gen AI is regarded as a catalyst driving transformative solutions and greater efficiency, how can companies reinvent roles and reshape the workforce to adapt to new technologies and drive future growth? More importantly, what does it really take to train an entire workforce to be fully conversant with Generative AI? Timothy Yap, Associate Partner, McKinsey & Company and Samantha Su, Director, Digital Transformation, Infocomm Media Development Authority (IMDA) share more.

Southeast Asia’s vulnerability to climate impacts is a global concern, with the region on track to become the fourth-largest contributor to the world’s gross domestic product (GDP) by 2030. However, it risks losing about 14.1% of its GDP due to the negative effects climate change. Dr. Bicky Bhangu, President of the UN Global Compact Network Singapore, shares with views about how Singapore can leverage its position as a sustainability hub to accelerate sustainable development goals progress in the region.

The rally in Chinese markets lost steam today after a briefing from the country’s National Development and Reform Commission gave few details on further stimulus. Isaac Lim, Chief Market Strategist of investment platform moomoo Singapore, weighs in with a fundamental and technical analysis of the present Chinese markets rally.  

A mother and son duo are facing five charges each for giving false and misleading information to the Inland Revenue Authority of Singapore (Iras) during its audit of cases of the so-called “99-to-1” arrangement for private properties. This is the first prosecution of taxpayers providing false and misleading information to Iras during its investigation into the two-step “99-to-1” property transactions for possible tax avoidance.  On Viewpoint, law-trained Invest Editor at The Straits Times, Tan Ooi Boon, shares his views about 99-to-1 property transactions. 

Japan's currency hits a two-month low amid geopolitical tensions and strong employment figures from the United States. How is the Yen faring against the USD and the SGD? Yeap Junrong, Market Strategist at IG explains this to us as well as his thesis for a trade idea. 

Independent cinema in Southeast Asia has been on the rise recently. A new generation of filmmakers in this region are making an impact on the world stage. While independent filmmakers face countless obstacles, the community has sought ways to fuel growth and ambition. Vietnamese horror comedy film, 'Don’t Cry, Butterfly', which Singapore was involved in, has won two awards at this year's Venice International Film Festival.The debut film by Vietnamese film-maker Duong Dieu Linh, held its world premiere at Venice Critics’ Week. It was presented with the section’s top prize for Best Film and the Verona Film Club Award for Most Innovative Film. The Vietnam-Singapore-Philippines-Indonesia production was supported by the Infocomm Media Development Authority's (IMDA)Singapore Film Commission, through the Southeast Asia Co-production Grant. We speak with Tan Si En of Singapore-based Momo Film Co about the business of filmmaking in Southeast Asia. Si En is the producer for the award-winning 'Don't Cry, Butterfly'.

Singapore’s reputation as a hub for luxury living and investment has been growing steadily. A stable political environment and a robust economy are just some of the factors that have attracted affluent buyers and investors from around the globe. To that end, Christie's International Real Estate, a global leader in luxury real estate, has recently launched operations in Singapore, marking a significant milestone in its Southeast Asia expansion strategy.  At the helm of this new venture is Himmat Singh, joint Managing Director, Christie’s International Real Estate Singapore. Himmat shares more about the luxury real estate market in the region and Christie's plans in the near future.

Former Transport Minister S. Iswaran has been sentenced to 12 months’ jail, in a high-profile trial that has gripped Singapore. This was more than what the prosecution had asked for. He had pleaded guilty to accepting gifts worth more than S$403,000 while in public office, as well as obstructing the course of justice. Linette Lai, Assistant News Editor from The Straits Times tells us more.

Sustainability may be a top business priority, BUT would it surprise you to know that only 6% of business leaders report that their organisation has completed at least one round of sustainability implementation according to  NTUC Learning Hub’s Sustainability for Business Resilience Report 2024. Holding back efforts seems to be a gap between management and employee expectations when it comes to sustainability training and implementation.  Rachel Kelly speaks to Mr Low Choon Chye Head, Sustainability, NTUC LearningHub to get the details.

Singapore has positioned itself as a hub for deep tech ventures, leveraging its knowledge-intensive economy and world-class research institutions. Skilled deep tech entrepreneurs receive increased support through grants, subsidies and investments.  On Industry Insight, Associate Professor Benjamin Tee, Vice President (Ecosystem Building) at the National University of Singapore, who has founded and sold a medtech startup, sheds more light on Singapore’s deep tech innovation and investment landscape and the current state of Singapore’s deep tech start-up ecosystem.