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Lee Hsien Loong receives Australia's top civilian honour for bilateral impact; Track fault sparks East-West Line MRT disruptions: Singapore live news
Senior Minister Lee Hsien Loong has received Australia's highest civilian honour, the Honorary Companion of the Order of Australia, for his 'eminent service' to bilateral ties. The award recognises his 40-year political career and his leadership in strengthening trade, defence, and strategic partnerships between Singapore and Australia. SM Lee was praised for revising the Singapore-Australia Free Trade Agreement, launching the Comprehensive Strategic Partnership, and supporting Australia's inclusion in regional forums. In his acceptance speech, he said he was 'deeply humbled' and accepted the award on behalf of generations who built the relationship. The ceremony was attended by government officials and members of the Singapore-Australia Parliamentary Friendship Group. SM Lee expressed optimism about the future of the partnership, especially with Prime Minister Lawrence Wong's upcoming visit. The honour places him among a select group of foreign leaders recognised by Australia. A point machine fault near Jurong East station disrupted train services on Singapore's East-West MRT Line Wednesday (6 Aug). Commuters between Boon Lay and Buona Vista faced delays of up to 25 minutes. SMRT deployed free bus services and advised rerouting via Woodlands and Bishan. The fault, which affects train switching, required trains to slow down for safety. SMRT President Lam Sheau Kai apologised for the inconvenience and assured that engineers were working to fix the issue. The rest of the East-West Line operated normally. Commuters were encouraged to download e-Travel chits for documentation. SMRT continues to monitor the situation and provide updates. Read more in our live blog below, including the latest local and international news and updates. SM Lee honoured with Australia's highest civilian award Senior Minister Lee Hsien Loong has received the Honorary Companion of the Order of Australia, the country's highest civilian honour, for his pivotal role in advancing bilateral ties. The award was presented during an investiture ceremony hosted by the Australian High Commissioner. The citation highlighted SM Lee's leadership in forging trade, defence and strategic partnerships. Under his watch, Singapore and Australia signed multiple agreements, including the Digital Economy and Green Economy pacts, and deepened military cooperation through the Five Power Defence Arrangements. SM Lee reflected on Australia's early recognition of Singapore's independence and its enduring support. He noted that the two nations, despite their differences, share a pragmatic worldview and commitment to multilateralism. The ceremony was attended by Mrs Lee, government officials, and members of the Singapore-Australia Parliamentary Friendship Group. SM Lee expressed confidence that the relationship will continue to flourish under Prime Minister Lawrence Wong's upcoming visit. 'His statesmanship cemented Australia as a natural partner for Singapore,' officials noted during the ceremony. This award follows similar recognition given to former leaders like Goh Chok Tong and George Yeo, underscoring Singapore's longstanding diplomatic rapport with Australia. East-West Line disruption: SMRT battles morning commute chaos Singapore's East-West MRT Line faced a major hiccup on Wednesday (6 August), as a point machine fault near Jurong East station triggered delays of up to 25 minutes. The fault, which affects train switching at junctions, forced trains to slow down for safety. SMRT responded swiftly, deploying free regular and bridging bus services between Boon Lay and Buona Vista. Commuters heading to Jurong East were advised to reroute via Woodlands and Bishan stations using the Thomson-East Coast and Circle Lines. The disruption began at the start of service, with SMRT issuing updates through in-train announcements and social media. Engineers were dispatched to fix the issue, while the rest of the East-West Line continued operating normally. SMRT Trains President Lam Sheau Kai issued an apology, acknowledging the inconvenience caused to morning commuters. The operator also encouraged affected passengers to download e-Travel chits as proof of delay. Senior Minister Lee Hsien Loong has received the Honorary Companion of the Order of Australia, the country's highest civilian honour, for his pivotal role in advancing bilateral ties. The award was presented during an investiture ceremony hosted by the Australian High Commissioner. The citation highlighted SM Lee's leadership in forging trade, defence and strategic partnerships. Under his watch, Singapore and Australia signed multiple agreements, including the Digital Economy and Green Economy pacts, and deepened military cooperation through the Five Power Defence Arrangements. SM Lee reflected on Australia's early recognition of Singapore's independence and its enduring support. He noted that the two nations, despite their differences, share a pragmatic worldview and commitment to multilateralism. The ceremony was attended by Mrs Lee, government officials, and members of the Singapore-Australia Parliamentary Friendship Group. SM Lee expressed confidence that the relationship will continue to flourish under Prime Minister Lawrence Wong's upcoming visit. 'His statesmanship cemented Australia as a natural partner for Singapore,' officials noted during the ceremony. This award follows similar recognition given to former leaders like Goh Chok Tong and George Yeo, underscoring Singapore's longstanding diplomatic rapport with Australia. Singapore's East-West MRT Line faced a major hiccup on Wednesday (6 August), as a point machine fault near Jurong East station triggered delays of up to 25 minutes. The fault, which affects train switching at junctions, forced trains to slow down for safety. SMRT responded swiftly, deploying free regular and bridging bus services between Boon Lay and Buona Vista. Commuters heading to Jurong East were advised to reroute via Woodlands and Bishan stations using the Thomson-East Coast and Circle Lines. The disruption began at the start of service, with SMRT issuing updates through in-train announcements and social media. Engineers were dispatched to fix the issue, while the rest of the East-West Line continued operating normally. SMRT Trains President Lam Sheau Kai issued an apology, acknowledging the inconvenience caused to morning commuters. The operator also encouraged affected passengers to download e-Travel chits as proof of delay.
Yahoo
14 minutes ago
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Dollar drifts as investors await Fed governor replacement
By Rae Wee SINGAPORE (Reuters) -The dollar was rangebound on Wednesday, with investors choosing to stay on the sidelines ahead of U.S. President Donald Trump's pick to fill a coming vacancy on the Federal Reserve's Board of Governors. Trump said on Tuesday he will decide on a nominee by the end of the week and had separately narrowed the possible replacements for Fed Chair Jerome Powell to a short list of four. Data out the same day also showed the U.S. services sector activity unexpectedly flatlined in July even as input costs climbed by the most in nearly three years, underscoring the hit from Trump's tariffs on the economy, which has also begun to bite corporate earnings. Still, those did little to sway the dollar, as traders were hesitant to take on fresh positions ahead of news on who would fill the Fed board vacancy. Concerns are mounting that partisan loyalty would invade the staid world of central bank policy. The dollar was last little changed at 147.54 yen, while the euro ticked up 0.02% to $1.5760. Sterling last bought $1.3304. Moves in currencies overnight had been muted. "I still think that between now and the end of the week, if Trump is going to make an announcement about who he wants to fill the vacant board seat, depending on... how credible (the markets) view that candidate to be, I think that has the potential to prompt some reaction across everything," said Ray Attrill, head of FX research at National Australia Bank (NAB). "For me, that' the biggest swing factor for the next sort of 48 hours or so." While moves in the dollar have been more subdued this week, the currency has yet to recover from its steep losses on Friday, when it clocked its largest one-day percentage fall in nearly four months following an alarming jobs report. Against a basket of currencies, the dollar was last at 98.76, still some distance away from its peak of 100.25 hit on Friday before the nonfarm payrolls figures. Traders continue to price in an over 90% chance of a Fed cut in September, with about 58 basis points worth of easing expected by the year-end. But data such as Tuesday's services ISM report underscore the fine line the Fed has to tread, as policymakers weigh rising price pressures from Trump's tariffs against signs of a weakening U.S. economy. "The services ISM has obviously got that kind of stagflationary whiff about it... that's obviously a bit of a two-edged sword in terms of what does that mean for policy," said NAB's Attrill. "At the moment, I think we're sort of of the view that maybe there's a bit too much confidence in the market about the certainty of a September move." In other currencies, the Australian dollar rose 0.15% to $0.6479, while the New Zealand dollar gained 0.23% to $0.5914. New Zealand's jobless rate rose slightly in the second quarter as the labour market remained soft, data on Wednesday showed, supporting the view that the central bank will proceed with a flagged 25 basis-point interest cut at its August policy meeting. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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U.S. Cracks Down on Unlicensed Nvidia GPU Shipments
Nvidia (NASDAQ:NVDA) found itself at the center of a U.S. export crackdown after two Chinese nationals were charged with illegally shipping its high-end AI chips to China. Warning! GuruFocus has detected 5 Warning Signs with NVDA. The Department of Justice alleges that between October 2022 and July 2025, Chuan Geng and Shiwei Yang used their El Monte firm, ALX Solutions, to funnel millions of dollars' worth of H100 GPUs through Singapore and Malaysia before sending them to China, all without the required Commerce Department licenses. Both face up to 20 years in prison under the Export Control Reform Act. Geng was released on a $250,000 bond after a federal magistrate hearing, while Yang remains in custody with an August 12 detention review and a September 11 arraignment set. The case underscores how carefully regulated AI hardware has become, with authorities determined to prevent advanced computing technology from reaching adversarial nations Nvidia shares dipped on the news, reflecting investor concern that tighter enforcement could slow shipment volumes or invite further scrutiny of supply-chain partners. Investors should care because this legal action highlights the risk that enforcement could tighten, potentially disrupting Nvidia's growth in international markets. The next milestone will be the August 12 hearing and any statements from the Commerce Department. This article first appeared on GuruFocus.
