Latest news with #ChangiAirportDevelopmentFund
Yahoo
18-02-2025
- Business
- Yahoo
Singapore to fork out billions for Changi airport upgrades
Singapore will pour an additional $3.7 billion into upgrades at Changi airport, including a long-awaited fifth terminal, as the nation seeks to maintain its position as a top global aviation hub, its leader said Tuesday. Prime Minister Lawrence Wong announced the fresh infusion while presenting the city-state's 2025 budget, which also included a wide range of cash incentives for locals ahead of elections later this year. Serving in a dual role as finance minister, Wong said part of the funds will be used to construct a fifth terminal at the airport, which saw around 67.7 million passengers pass through its gates last year. "When completed, Terminal 5 will expand our airport's capacity by more than 50 percent and will ensure that Singapore remains a critical gateway for global travel and trade," he said. The fresh top-up of Sg$5 billion (US$3.7 billion) to the Changi Airport Development Fund will "ensure sufficient resources to develop our air hub", added Wong. Terminal 5 was first proposed in 2013 and construction is expected to go ahead later this year, following pandemic delays, officials said. The new terminal is expected to be operational in the mid-2030s. Singapore's Changi has been consistently ranked as among the best airports in the world, but it has faced challenges from other hubs like Doha and Seoul. It is one of the largest transit hubs in Asia with more than 100 airlines operating from the airport. The government put Sg$3 billion in its airport development fund in 2015 when it was set up, adding Sg$1 billion in 2016, and Sg$2 billion in 2023, according to local media. - Budget giveaways - Also in Tuesday's budget speech, his first as prime minister since taking over in May, Wong unveiled a raft of government handouts, including to help citizens cope with high living costs and upgrade jobs skills. The giveaways include Sg$800 worth of vouchers for every Singaporean household to be distributed from May -- part of regular state disbursements. The budget items came ahead of general elections, which must be called before November. The People's Action Party (PAP), which has ruled Singapore since 1959, is expected to face a tough challenge from a resurgent opposition, building on gains during the last polls in 2020. The PAP won 83 of the 93 seats at stake in that election, but the opposition Workers' Party surprisingly captured an unprecedented 10 seats. Wong also said the government will put in an additional Sg$5 billion to a coastal and flood protection fund and another Sg$5 billion to a pool supporting clean energy. Singapore was also studying the potential of nuclear energy and would "take further steps to systematically build up our capabilities in this area", the prime minister added. mba/jhe/sco
Yahoo
18-02-2025
- Business
- Yahoo
Budget 2025: $800 CDC vouchers for every Singaporean household; Lim Tean slapped with fine, 6 weeks' jail for practising law without valid certificate: Singapore live news
Hello to all our readers, Yahoo Singapore will be bringing you live news updates today. To help cope with the pressure of rising costs, Prime Minister Lawrence Wong announced during his Budget 2025 statement on 18 Feb that $800 worth of CDC vouchers will be disbursed to each Singaporean household. The first $500 will be given in May 2025, while the remaining $300 will be given in Jan 2026. For more information, read on. Lawyer and opposition politician Lim Tean was slapped with a fine of $1,000 and six weeks' jail for practising law without a valid certificate. He was found guilty of three charges under the Legal Profession Act for acting as an advocate and solicitor without authorisation between 1 Apr, 2021, and 9 June, 2021. Read more in our live blog below, including the latest local and international news and updates. No Captain America: Cathay Cineplexes releases $100 movie vouchers in a bid to save its screens Delta plane flips over, crash-lands at Toronto airport Singapore expected to boost spending in Budget 2025 Budget 2025: $5 billion top-up for Changi Airport Development Fund Prime Minister Lawrence Wong announced a top-up of $5 billion for the Changi Airport Development Fund during his Budget 2025 statement on 18 Feb. This is to ensure that there are "sufficient resources to develop our air hub". PM Wong said that the air hub is "another key pillar of connectivity" for Singapore. He added, "With the President's concurrence, the government will also provide a guarantee to Changi Airport Group. This will help to lower the cost of borrowings needed to develop Terminal 5 and supporting infrastructure in the Changi East." PM Wong also said that Changi Airport Terminal 5 is set to break ground in the coming months. "When completed, Terminal 5 will expand our airport's capacity by more than 50 per cent and will ensure that Singapore remains a critical getaway for global travel and trade," he said. Cost of living has been a key issue for Singaporeans in recent years. To help cope with the pressure of rising costs, Prime Minister Lawrence Wong announced during his Budget 2025 statement on 18 Feb that $800 worth of CDC vouchers will be disbursed to each Singaporean household. The first $500 will be given in May 2025, while the remaining $300 will be given in Jan 2026. Half can be used at supermarkets, while the other half at heartland merchants and hawkers. PM Wong also announced more U-save rebates with eligible HDB households getting up to S$760 in utilities rebates this financial year. This is double the amount of regular U-Save rebates. The issue of rising costs has been on PM Wong's radar and he has acknowledged it previously. In a YouTube video posted on 2 Oct, 2024, PM Wong said, "My team and I will do everything we can to help you get through this difficult period." During the Budget 2025 statement, he noted that while inflation "is expected to ease further this year, prices remain high". PM Wong also shared that the Enhanced Assurance Package in 2024 has helped to "fully offset the effects of inflation for lower-income households, and to provide a significant cushion for middle-income households". All eyes and ears are on the upcoming budget speech by Prime Minister Lawrence Wong as he is expected to focus on bringing down living costs and boosting social aid. Singapore is likely to boost spending, offering more handouts to households and businesses ahead of the general election which has to be held by November 2025. HSBC Holdings Plc economists Yun Liu and Madhurima Nag told Bloomberg that Singapore has seen higher revenues, thanks to a hike in the goods and services tax and robust economic growth in 2024. This means that the country probably has a larger-than-expected budget surplus in the fiscal year ending March. The speech will be delivered in Parliament at 3.30pm on 18 Feb. For more on what will probably be addressed in Budget 2025, read here. A Delta Air Lines plane from Minneapolis crash-landed at Toronto Pearson Airport and flipped over. The accident occurred on Monday, leaving at least 18 injured, including a child. The cause of the crash is not clear at the moment. All 80 people on board were evacuated. Eighteen of them were conveyed to nearby hospitals, according to airport fire chief Todd Aitken. Pearson CEO Deborah Flint told reporters, "At this time, we do not know of any of those passengers having critical injuries." For more on the Delta plane crash, read here. Cathay Cineplexes has sent out an S.O.S – literally. The cinema chain, which recently had trouble paying rent of more than $2.68 million to various landlords, released $100 movie vouchers in an attempt to "Save Our Screens". The vouchers comprises 10 movies with 10 sets of popcorn and bottled water. These would normally cost $223. View this post on Instagram A post shared by Cathay Cineplexes (@cathaycineplexes) Pre-orders for the vouchers are available now but can only be redeemed from 21 Feb. The vouchers are valid from Mondays to Sundays, including eve of public holidays and public holidays. According to the terms and conditions, the vouchers are only valid till 31 Dec, 2025. The vouchers also cannot be used for 3D movies, film festivals, Tamil or Hindi movies, Ultima and Wave seats, movies screened at the Platinum Movie Suites, movie marathons, and special priced tickets. So, what does that leave the viewers with? A quick check on the Cathay website showed that the only Hollywood film they have is Bridget Jones: Mad About the Boy. The recently released Marvel Studios film Captain America: Brave New World is missing from their slate. However, this isn't the first time as Cathay Cineplexes didn't screen Deadpool & Wolverine either. It's unclear if this trend will continue. If you're more into Asian movies, then Jack Neo's latest Chinese New Year film I Want To Be Boss might be appealing. Otherwise, you can check out the Donnie Yen-led action flick The Prosecutor or Hong Kong drama film The Last Dance. Lawyer and opposition politician Lim Tean was slapped with a fine of $1,000 and six weeks' jail for practising law without a valid certificate. CNA reported that Lim, 60, intends to appeal and his jail term has been deferred to start on 3 March. Senior District Judge Ong Hian Sun said that Lim had not shown any remorse before handing down the sentence. Lim was convicted in July 2024 by Judge Ong after a trial. He was found guilty of three charges under the Legal Profession Act for acting as an advocate and solicitor without authorisation between 1 Apr, 2021, and 9 June, 2021. His practising certificate was only issued on 10 June, 2021. However, in the two months prior, Lim attended court hearings and submitted documents to the court without a valid certificate. He carried on or defended court proceedings for clients on 32 occasions. Lim is the founder of the Peoples Voice party and the secretary-general of the People's Alliance for Reform, a grouping of opposition parties. He lost to the People's Action Party in the Jalan Besar Group Representation Constituency during the 2020 General Election. Prime Minister Lawrence Wong announced a top-up of $5 billion for the Changi Airport Development Fund during his Budget 2025 statement on 18 Feb. This is to ensure that there are "sufficient resources to develop our air hub". PM Wong said that the air hub is "another key pillar of connectivity" for Singapore. He added, "With the President's concurrence, the government will also provide a guarantee to Changi Airport Group. This will help to lower the cost of borrowings needed to develop Terminal 5 and supporting infrastructure in the Changi East." PM Wong also said that Changi Airport Terminal 5 is set to break ground in the coming months. "When completed, Terminal 5 will expand our airport's capacity by more than 50 per cent and will ensure that Singapore remains a critical getaway for global travel and trade," he said. Cost of living has been a key issue for Singaporeans in recent years. To help cope with the pressure of rising costs, Prime Minister Lawrence Wong announced during his Budget 2025 statement on 18 Feb that $800 worth of CDC vouchers will be disbursed to each Singaporean household. The first $500 will be given in May 2025, while the remaining $300 will be given in Jan 2026. Half can be used at supermarkets, while the other half at heartland merchants and hawkers. PM Wong also announced more U-save rebates with eligible HDB households getting up to S$760 in utilities rebates this financial year. This is double the amount of regular U-Save rebates. The issue of rising costs has been on PM Wong's radar and he has acknowledged it previously. In a YouTube video posted on 2 Oct, 2024, PM Wong said, "My team and I will do everything we can to help you get through this difficult period." During the Budget 2025 statement, he noted that while inflation "is expected to ease further this year, prices remain high". PM Wong also shared that the Enhanced Assurance Package in 2024 has helped to "fully offset the effects of inflation for lower-income households, and to provide a significant cushion for middle-income households". All eyes and ears are on the upcoming budget speech by Prime Minister Lawrence Wong as he is expected to focus on bringing down living costs and boosting social aid. Singapore is likely to boost spending, offering more handouts to households and businesses ahead of the general election which has to be held by November 2025. HSBC Holdings Plc economists Yun Liu and Madhurima Nag told Bloomberg that Singapore has seen higher revenues, thanks to a hike in the goods and services tax and robust economic growth in 2024. This means that the country probably has a larger-than-expected budget surplus in the fiscal year ending March. The speech will be delivered in Parliament at 3.30pm on 18 Feb. For more on what will probably be addressed in Budget 2025, read here. A Delta Air Lines plane from Minneapolis crash-landed at Toronto Pearson Airport and flipped over. The accident occurred on Monday, leaving at least 18 injured, including a child. The cause of the crash is not clear at the moment. All 80 people on board were evacuated. Eighteen of them were conveyed to nearby hospitals, according to airport fire chief Todd Aitken. Pearson CEO Deborah Flint told reporters, "At this time, we do not know of any of those passengers having critical injuries." For more on the Delta plane crash, read here. Cathay Cineplexes has sent out an S.O.S – literally. The cinema chain, which recently had trouble paying rent of more than $2.68 million to various landlords, released $100 movie vouchers in an attempt to "Save Our Screens". The vouchers comprises 10 movies with 10 sets of popcorn and bottled water. These would normally cost $223. View this post on Instagram A post shared by Cathay Cineplexes (@cathaycineplexes) Pre-orders for the vouchers are available now but can only be redeemed from 21 Feb. The vouchers are valid from Mondays to Sundays, including eve of public holidays and public holidays. According to the terms and conditions, the vouchers are only valid till 31 Dec, 2025. The vouchers also cannot be used for 3D movies, film festivals, Tamil or Hindi movies, Ultima and Wave seats, movies screened at the Platinum Movie Suites, movie marathons, and special priced tickets. So, what does that leave the viewers with? A quick check on the Cathay website showed that the only Hollywood film they have is Bridget Jones: Mad About the Boy. The recently released Marvel Studios film Captain America: Brave New World is missing from their slate. However, this isn't the first time as Cathay Cineplexes didn't screen Deadpool & Wolverine either. It's unclear if this trend will continue. If you're more into Asian movies, then Jack Neo's latest Chinese New Year film I Want To Be Boss might be appealing. Otherwise, you can check out the Donnie Yen-led action flick The Prosecutor or Hong Kong drama film The Last Dance. Lawyer and opposition politician Lim Tean was slapped with a fine of $1,000 and six weeks' jail for practising law without a valid certificate. CNA reported that Lim, 60, intends to appeal and his jail term has been deferred to start on 3 March. Senior District Judge Ong Hian Sun said that Lim had not shown any remorse before handing down the sentence. Lim was convicted in July 2024 by Judge Ong after a trial. He was found guilty of three charges under the Legal Profession Act for acting as an advocate and solicitor without authorisation between 1 Apr, 2021, and 9 June, 2021. His practising certificate was only issued on 10 June, 2021. However, in the two months prior, Lim attended court hearings and submitted documents to the court without a valid certificate. He carried on or defended court proceedings for clients on 32 occasions. Lim is the founder of the Peoples Voice party and the secretary-general of the People's Alliance for Reform, a grouping of opposition parties. He lost to the People's Action Party in the Jalan Besar Group Representation Constituency during the 2020 General Election.
