CNA938 Rewind - Stock take today: $2.4T deficit warning, markets brace for Fed cuts
CNA938 Rewind
On the daily markets analysis on Open For Business, Hairianto Diman and Susan Ng speak with Rick Bensignor, Founder and Managing Partner, InTheKnowTrader.com
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CNA
an hour ago
- CNA
‘Have a life besides driving': Death of private-hire driver a wake-up call, say those in industry
SINGAPORE: The death of 49-year-old private-hire driver Gavin Neo from a stroke in May was a 'wake-up call' for those in the industry looking to cash in on working long hours, some drivers say. Friends said Mr Neo often spent up to 15 hours behind the wheel to provide for his teenage son and daughter. Private-hire drivers CNA spoke to said that while they have the freedom to choose the number of hours they work, incentive structures set up by ride-hailing platforms - offering cash bonuses for completing more trips - can push them beyond their limits, and should be reviewed. Other said however that it was also up to the individual to know their physical limits and not blindly chase after cash rewards. Working long hours for more incentives was precisely what Mr Lincoln Khoo did when he joined ride-hailing platform Grab in January last year. 'For me it was very simple, the motivation to drive long hours is only one thing: Money, income,' said the 40-year-old, who drives part-time and does emceeing and hosting gigs as well. 'The more you drive, you will earn much more." Under a newcomer incentive at that time, he could get up to S$3,000 (US$2,300) in cash bonuses if he completed at least 200 trips for the first four weeks. The current newcomer incentive on Grab's website shows that to get the highest possible cash incentives, drivers have to complete 200 trips per week for four weeks. There are lower incentives for completing 125 rides per week. What does 800 trips a month look like? Mr Khoo laid out his schedule: A daily 18 hours of driving from Monday to Friday, followed by 26 hours of driving from Saturday afternoon to Sunday -over four weeks. He said he slept in during all the hours he was not on the road, and took short coffee breaks and washed his face in between drives to keep awake. For racking up a total of 845 trips in his first four weeks, he earned S$15,000 - S$12,000 from rides and S$3,000 in cash bonuses. Taking into account expenditures on fuel and rental, he took home about S$10,000 that month. Was it worth it? Mr Khoo described himself as 'the kind of person where if you give me a challenge, I want to fulfil the challenge'. But he acknowledged it was not a sustainable routine. After that initial burst out of the blocks, Mr Khoo 'took it easy' and drove shorter hours, taking home S$3,000 the next month. 'If you do it continuously for six months, you'll start to feel the effects.'
CNA
8 hours ago
- CNA
Benefits from use of CDC vouchers not equally distributed, with some buyers trying to seek profit
The Federation of Merchant's Associations Singapore says gains from CDC vouchers aren't evenly felt across merchants, as digitally savvy merchants tend to attract more customers. At the same time, shifting spending habits have seen some Singaporeans trying to profit off their vouchers by flipping them for cash. Now, heartland enterprises are finding new ways to keep customers coming back. Nasyrah Rohim with this report.
Business Times
15 hours ago
- Business Times
Income Eco Run raises S$70,000 for WWF-Singapore
[SINGAPORE] The inclement weather in the wee hours of Sunday (Jun 8) morning did not deter close to 5,500 people from turning up for the annual Income Eco Run at Marina Barrage to run for a good cause. The carbon-neutral event featured five distances – 3 km, 5 km, 10 km, 15 km and the 21.1 km half-marathon – as well as a kids' run and a new pets category. A group of 20 athletes with special needs from Special Olympics Singapore also took part, running alongside volunteer pacers. Speaker of Parliament Seah Kian Peng flagged off the 5 km and 10 km runs at 8 am, about an hour later than scheduled due to the rain. He also took part in the 5 km event. This year's Eco Run was held in conjunction with Income Insurance's 55th anniversary celebrations. On Saturday night, nine runners took part in an invitation-only 55 km ultra-marathon. Income Insurance once again matched S$1 for every kilometre clocked, bringing the total contribution to S$70,000 – the largest amount raised so far. The money will go towards supporting the World Wide Fund for Nature Singapore's (WWF-Singapore) pilot programme to reduce single-use food and beverage packaging. This programme, supported by WWF-Singapore's partnership with Income Insurance, aligns with the Singapore Green Plan's target to reduce the amount of waste sent to the landfill each day by 30 per cent by 2030. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up After a rain-induced delay, the runners were raring to go at the starting line at Marina Barrage. PHOTO: INCOME INSURANCE Income Insurance's chief executive officer Andrew Yeo said: 'We are proud to champion zero waste not just in principle but in practice – from how we manage logistics, materials and waste, to how we rally and engage the public on sustainable choices.' At the hydration points along the route, for instance, a total of 73,000 compostable, plastic-free cups were used. Instead of being sent to the landfill, these cups will be composted along with banana peels that were collected as part of broader waste-segregation efforts. The organisers also avoided further waste by encouraging participants to run in their own or past Eco Run shirts. Those who completed their runs received e-certificates instead of physical medals, and the run bibs they wore were about 65 per cent smaller than standard bibs. At last year's Eco Run, 60 per cent more recyclables were recycled including metal cans, paper cartons and plastic bottles, and general waste generated per person dropped by 25 per cent.
