Daily Debrief: What Happened Today (May 6)

Stories you might have missed

Singapore earns top rating in fight against financial crime despite shadow of S$3 billion money laundering scandal

[SINGAPORE] Singapore received the highest monitoring rating from a global watchdog for its fight against financial crime. This is despite the S$3 billion money laundering scandal in 2023 exposing vulnerabilities tied to its role as a global financial hub.

PM Wong to head to Cebu for Asean Summit; leaders to discuss trade, energy security amid Middle East tensions

[SINGAPORE] Prime Minister Lawrence Wong will be in Cebu in the Philippines from Thursday (May 7) to Saturday for the 48th Asean Summit, where regional leaders are expected to discuss trade and energy security amid ongoing Middle East supply chain disruptions.

COEs for large cars up 4.3% at S$126,236, mainstream cars near S$125,000

[SINGAPORE] The large car and commercial vehicle categories were the major gainers in May’s first round of Certificate of Entitlement (COE) bidding on Wednesday (May 6), as the mainstream car category sustained its high level.

Singapore banks getting better at spotting dirty money, but penalties still lack bite, says global watchdog

[SINGAPORE] Singapore’s banks have improved their ability to detect financial crime through initiatives such as data-sharing tools, said a global watchdog. But it added that penalties and supervision could be strengthened to better deter misconduct.

‘Clear leader’ in S-E Asia: Analysts bullish on Grab despite regulatory headwinds

[SINGAPORE] Analysts remain broadly optimistic about Grab following its first-quarter results.

MOH addressing rising healthcare costs, but cannot control commercial insurance decisions: Rahayu Mahzam

[SINGAPORE] The government is tackling the root causes of rising healthcare costs and offering measures to cushion the impact, but must be mindful about intervening in the commercial decisions of private insurance providers, said Minister of State for Health Rahayu Mahzam.