CNA938 Rewind - Mind Your Money - Journeying from the Navy to a banker
From being conscripted in the Yugoslavian Navy to a banking career in Singapore, Cheryl Goh hears about Tibor Pandi, Citi Country Officer (CCO) and Banking Head for Singapore's unlikely career journey.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
2 hours ago
- Straits Times
Air Canada to resume flights after directive ending strike
Sign up now: Get ST's newsletters delivered to your inbox Air Canada's flight attendants are required to return to their duties by 2am Singapore time, a directive said. Air Canada plans to resume flights on Aug 17 after the Canadian Industrial Relations Board (CIRB) acted on a directive from the country's Jobs Minister Patty Hajdu to end a cabin crew strike that caused the suspension of around 700 daily flights. The CIRB directed Air Canada to resume operations and for all Air Canada and Air Canada Rouge flight attendants to return to their duties by 2pm Eastern time (2am Singapore time), the airline said in a statement. The directive came after the government on Aug 16 moved to end the strike and require binding arbitration to break a contract impasse, an action that the country's largest carrier had sought but unionised flight attendants fiercely opposed. Thousands of Air Canada cabin crew walked off the job on Aug 16 for the first time since 1985, after months of negotiations over a new contract. In anticipation of the stoppage, the airline began cancelling flights on Aug 15 , forcing more than 100,000 travelers to scramble for alternatives or stay put. Air Canada said flights would restart on the evening of Aug 17, but some would still be cancelled over the next seven to 10 days as the schedule stabilises and returns to normal. REUTERS
CNA
3 hours ago
- CNA
Modi's tax overhaul to strain finances but boost image amid US trade tensions
NEW DELHI :Indian Prime Minister Narendra Modi's deepest tax cuts in eight years will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington. In the biggest tax overhaul since 2017, Modi's government on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper from October, helping consumers and also companies like Nestle, Samsung and LG Electronics. At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50 per cent as of August 27. The tax cut plan comes with costs given GST is a major revenue generator. IDFC First Bank says the cuts will boost India's GDP by 0.6 per centage points over 12 months but will cost the state and federal government $20 billion annually. But it will improve weak stock market sentiment and bring political dividends for Modi ahead of a critical state election in the eastern state of Bihar, said Rasheed Kidwai, a fellow at New Delhi-based Observer Research Foundation. "GST reduction will impact everyone, unlike cuts to income tax, which is paid by only 3 per cent-4 per cent of the population. Modi is doing this as he is under a lot of pressure due to U.S. policies," said Kidwai. "The move will also help the stock market, which is now politically important as it has a lot of retail investors." India launched the major tax system in 2017 that subsumed local state taxes into the new, nationwide GST to unify its economy for the first time. But the biggest tax reform since India's independence faced criticism for its complex design that taxes products and services under four slabs - 5 per cent, 12 per cent, 18 per cent and 28 per cent. Last year, India said caramel popcorn would be taxed at 18 per cent but the salted category at 5 per cent, triggering criticism about a glaring example of GST's complexities. Under the new system, India will abolish the 28 per cent slab - which includes cars and electronics - and move nearly all of the items under the 12 per cent category to the lower 5 per cent slab, benefitting many more consumer items and packaged foods. Government data shows the 28 per cent and 12 per cent tax slabs together garner 16 per cent of India's annual GST revenue of roughly $250 billion last fiscal year. 'A BRIGHTER GIFT' AND POLITICS Bihar is a key state politically and goes to the polls by November. A recent survey by the VoteVibe agency showed Modi's opposition has an edge largely because of a lack of jobs. "Any tax cut has wide public appreciation. But of course, the timing is purely determined by political exigencies," said Dilip Cherian, a communications consultant and co-founder of Indian public relations firm Perfect Relations. "It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation." Modi's ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, "a brighter gift of simpler taxes and more savings is waiting for every Indian." Modi has vowed to protect farmers, fishermen and cattlemen, following Trump's surprise tariff announcement on India, after trade talks between New Delhi and Washington collapsed over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. The latest round of trade talks between the two nations set for August 25-29 has also been called off.
Independent Singapore
3 hours ago
- Independent Singapore
‘Drivers helped build this company, and now… drivers no longer partners?' — PHV drivers react to Grab investing in WeRide to bring robotaxis to Southeast Asia
SINGAPORE: Step aside, human drivers. Your new colleague doesn't need sleep, snacks, or small talk. Grab, Southeast Asia's ride-hailing juggernaut and reigning superapp, has just made a Press Release announcement of a strategic equity investment in Chinese autonomous driving giant WeRide . The move, also revealed in a joint announcement reported by Tech in Asia, is aimed at rolling out Level 4 robotaxis and autonomous shuttles across Southeast Asia — and possibly reshaping urban transport as we know it. That's the future knocking. Robotaxis. In Southeast Asia. The region that's famous for chaotic traffic, street food stalls in the fast lane, and grabby Grab drivers (pun intended). What's level 4 autonomy? Level 4 means the vehicle can drive itself without human input — in specific conditions or geofenced areas. No driver's hands. No nervous brake-pumping. Just sensors, software, and sophisticated artificial intelligence (AI). Think Tesla, but with less hype and hopefully fewer exploding batteries. According to WeRide 's CEO, Dr. Tony Han, their vision is ambitious: 'WeRide's vision for Southeast Asia is to deploy thousands of Robotaxis across the region, through a progressive rollout aligned with local regulations and societal readiness.' And who better to partner with than Grab, whose app is already embedded into the daily life of millions from Singapore to Jakarta? But are Southeast Asia's roads ready for it, anyway? While WeRide has proven itself in China and the Middle East, Southeast Asia presents a unique challenge — and perhaps a reality check for any AI-driven vehicle. The potholes have personalities. Motorbikes don't obey lanes. And crossing pedestrians, sometimes they don't even walk — they glide between cars like action movie stars. But Grab seems confident. 'We look forward to working with WeRide to extensively test their vehicles across diverse Southeast Asian environments,' Tan said. And if those tests pass, you might be hailing your next ride in Singapore or Malaysia only to be greeted by… well, no one, except for a screen and a robotic voice. Not all PHV drivers are on board (literally or figuratively) with the idea, though Reactions among current Grab drivers have been… mixed. In the Professional PHV Drivers Singapore group, comments ranged from sceptical to savage: 'If SEA governments are smart, don't let them come in. Don't create unemployment like what China is facing now,' warned one. 'Robotaxi… Grab takes 100% fare… pays tax to the government… this will be the future. It's only a matter of time…' another made a reminding statement. 'Drivers helped build this company, and now… Cross the bridge and dismantle it,' read one frustrated comment. And another, probably in fear of what the future holds for PHV drivers, nervously asked: 'Are drivers no longer partners?' It's clear that while Grab is painting a picture of coexistence between man and machine, some drivers feel they're being left at the kerb. When superapp and superbrain join forces… Grab's investment is set to close by the first half of 2026, pending all the usual due diligence and timing preferences from WeRide . But beyond the money, this partnership is all about tech and traction. Together, the two companies plan to: Integrate WeRide's AV tech into Grab's ride-hailing network Collaborate on fleet management, dispatch, routing, and remote monitoring Train and upskill Grab's driver-partners for new high-value roles in the AV sector (translation: not firing them… if they're willing to upgrade themselves) According to Grab CEO Anthony Tan: 'We believe AVs can complement our driver network and be deployed in cities with significant driver shortages.' That's corporate speak for: 'We're not replacing you… We're augmenting you.' (This is the part you still get nervous glances from human drivers.) The big picture: Why does this matter if it works… or not Autonomous vehicles aren't just about tech innovation — they're about how societies evolve around it. Grab 's move is part of a global trend, but its implementation in the diverse, developing, and sometimes unpredictable cities of Southeast Asia will be a true litmus test. If it works, robotaxis could: Reduce accidents (no more road rage or sleepy drivers) Provide 24/7 access in underserved areas Ease the pressure from driver shortages Create new jobs in AV maintenance, fleet ops, and supervision But if it flops, expect traffic chaos… and similar viral TikToks again. From MOU to major milestone If this sounds sudden, it's not. The deal builds upon a March 2025 Memorandum of Understanding, where both companies agreed to explore AVs' feasibility in the region. Less than a year later, that idea has gone from handshake to headline. Behind the scenes: A whole lot of geeky integration The Grab–WeRide collaboration is not just a front-end show of flashy AVs. Under the hood, it's a full-stack marriage of hardware, software, and cloud infrastructure. The partnership will work on: Dispatch & Routing: Matching cars with riders using AI, not fingers Matching cars with riders using AI, not fingers Uptime Maximisation: Charging, maintaining, and keeping those bots rolling Charging, maintaining, and keeping those bots rolling Safety Performance: Because dodging street animals and unpredictable GrabFood riders takes skill Because dodging street animals and unpredictable GrabFood riders takes skill Remote Monitoring: Teleoperations to handle emergencies when a robot doesn't know what to do Teleoperations to handle emergencies when a robot doesn't know what to do Customer Support: Because even AI needs help when it ends up in the wrong neighbourhood Because even AI needs help when it ends up in the wrong neighbourhood Human Upskilling: Through WeRide 's AV training programs and GrabAcademy's career modules In short, this isn't just a pilot project — it's a long game to redefine what 'ride-hailing' means in the age of AI. So what happens next? The road ahead is long (and full of roadblocks), but with this investment, Grab and WeRide are officially driving in the same direction. And whether you're a tech geek, a nervous driver, or just someone who hates small talk during a ride, the future of mobility in Southeast Asia just got a major update. So for now, buckle up — or don't, your next autonomous car ride might just do that for you. In other news, unlike robotaxis—which don't take things personally or throw a tantrum over passengers' air-conditioning requests—one human PHV driver did otherwise. When his passenger asked to 'increase the air-con,' the driver, clearly not in the mood for thermostat diplomacy, snapped with a sharp: 'Go ahead and get out!' Let's just say: AI may lack emotions or feelings, but at least it won't yell at you. Catch the full real-life PHV drama over here: 'Get out! Get out! This is my car; I'm asking you to get out!' — Tada driver ejects passenger for asking to 'increase air-con speed'
