Latest news with #DigitalDevelopment
Malay Mail
11-06-2025
- Business
- Malay Mail
Singapore government extends The Online Citizen's financial ban to 2027 over falsehoods
SINGAPORE, June 11 — The Online Citizen (TOC) will remain barred from receiving any financial benefits through its website and social media platforms until 2027, after Singapore authorities extended its designation as a Declared Online Location (DOL) under the Protection from Online Falsehoods and Manipulation Act (Pofma). In a statement today, Singapore's Ministry of Digital Development and Information (MDDI) said the extension — effective from July 21, 2025, to July 21, 2027 — was necessary 'to ensure Singaporeans continue to be alerted to TOC's record of communicating falsehoods.' The website and its associated Facebook, Instagram and X pages were first labelled as DOLs in July 2023. This status means the operators cannot monetise their content or receive financial support during the declaration period. According to MDDI, TOC 'continued to communicate falsehoods through its online platforms over the past two years', even while under the initial DOL designation. Between July 2023 and June 2025, the site was issued eight correction directions under Pofma. One such direction, issued on February 25, related to an article TOC published about modification works at the Ridout Road colonial bungalow leased by Home Affairs Minister K. Shanmugam's wife. In it, TOC claimed that the Singapore Land Authority had promised Shanmugam a lease extension beyond 2027 and that public funds were used for earthworks at the property from 2024 — claims which the ministry said were false. The latest DOL order requires TOC to carry a notice on all its platforms stating that it has 'communicated multiple falsehoods' and warning viewers to exercise caution when accessing its content. In addition, the MDDI said service providers, including digital advertising agencies, 'will have to take steps to ensure that their paid content on TOC's platforms are not made available in Singapore.' 'Individuals and companies must also not provide financial support to TOC's DOLs to avoid promoting the communication of falsehoods in Singapore on these platforms,' the ministry added. TOC may continue operating its platforms but is barred from monetising them during the DOL period. Under Pofma, the Singapore government can also instruct internet intermediaries to block access to DOLs if operators fail to comply with restrictions. Companies that flout such orders face fines of up to S$20,000 (RM65,900) per day, capped at S$500,000. Operators of DOLs may apply to the minister to vary or cancel the declaration. If unsuccessful, they may appeal to the High Court. TOC is one of four entities currently designated as DOLs, alongside Gutzy Asia, the Transformative Justice Collective, and Opposition politician Kenneth Jeyaretnam's platforms.
CNA
28-05-2025
- Business
- CNA
Singapore unveils locally developed AI language model MERaLiON
Singapore is exploring the use of its locally developed language model, MERaLiON, in functions like customer support and eldercare, thanks to its ability to understand a wider range of Southeast Asian languages. The model was unveiled at the Asia Tech Summit, a conference bringing together industry leaders. 12 organisations, from sectors such as health and banking, are working to research and develop practical uses for MERaLiON. Meanwhile, Digital Development and Information Minister Josephine Teo said Singapore will continue to drive AI adoption across businesses. Nicolas Ng reports.
Coin Geek
23-05-2025
- Business
- Coin Geek
Kazakhstan eyes crypto hub bid; Thailand mulls tokenized bonds
Getting your Trinity Audio player ready... Kazakhstan has unfurled ambitions to become Central Asia's digital asset hub, but the country faces a slew of challenges that stand in the way of its goals. Kazakhstan's first Vice Minister for Digital Development, Kanysh Tuleushin, shared plans for the incoming digital transformation, noting that it is a top priority for the government. In an interview with local news outlet Kazakhstan Pravda, Tuleushin revealed that the short-term goal for the country is regional dominance. He mentioned that the quickest way for Kazakhstan to meet its targets is to implement sweeping policy changes across the board. The minister noted that lifting all trading restrictions across the country is the first step toward transforming into a digital asset hub. 'If all restrictions were lifted and digital asset trading were allowed across Kazakhstan, the impact could be significant,' said Tuleushin. 'Kazakhstan might become Central Asia's crypto hub.' Apart from lifting existing digital trading restrictions, the minister advocates for additional regulations to protect and attract digital asset service providers. He noted that clear licensing and tax rules will lure global firms to the country. A key part of the plan involves creating a haven for miners. In his interview, he argues that digital asset miners can 'modernize' the energy sector by utilizing excess supply in their operations. The minister reveals a 70/30 energy-sharing initiative involving foreign investors funding the construction and upgrades of power grids. Despite the staccato approach toward mining, digital asset miners have generated over $7 million in taxes yearly since 2022. While the country is in the process of becoming a digital asset hub, Tuleushin reveals that consumer protection is at the top of the pile for Kazakhstan, saying that authorities will pursue consumer protection laws while heightening enforcement actions against unregistered digital asset platforms. Even before Tuleushin remarked all these, Kazakhstan had taken preliminary steps to improve the state of its digital assets by rolling out Web3 education initiatives and exploring the possibilities of a national digital asset bank. Elsewhere, Thailand has revealed ambitious plans for the rollout of tokenized government bonds for retail investors in a push toward digitizing its financial landscape. Thai Finance Minister Pichai Chunhavajira revealed that the plan has received Cabinet approval and will proceed toward launch. These tokenized bonds, dubbed G-Token, will be used to raise funds under the 2025 budget borrowing agenda. However, an official from the Public Debt Management Office clarified that these tokens are not debt instruments but 'digital investment tokens.' The tokens differ from traditional government bonds in several ways, with the designation for retail investors being the most significant difference. Prior to the announcement, Thailand's retail investors had stood on the sidelines while institutional investors enjoyed the largest slice of bond offerings. 'One big selling point of the token is that it allows more retail investors to become part of the digital economy,' said an official from the Ministry of Finance. To underscore the bond's democratization, authorities say the G-Token will be available on registered digital asset exchanges in Thailand. Despite not being classified as debt instruments, the Finance Ministry says retail investors will earn higher returns from the bonds than rates offered by traditional banking institutions. Although the minister did not name a figure, market experts are predicting returns of up to 4%, nearly double the typical rates financial institutions offer. However, the official notes that the first token mint is largely experimental, and details of yield will become clearer in the coming weeks. This is not the first time Thai authorities have dabbled with blockchain for the financial ecosystem. In February, the Securities and Exchange Commission (SEC) unveiled its intention to launch a tokenized securities trading system to reduce traditional inefficiencies and steep fees. Data from shows that the market for tokenized government bonds currently sits at $225 million and shows no signs of slowing down. A close look at the data reveals that on-chain value has nearly tripled since Q4 of 2024, but privately issued digital bonds are through the roof. According to recent data, the value of privately issued digital bonds has surged by 260% over the last year to surpass a valuation of $4 billion. At the start of the week, Germany-based KfW joined the growing cohort with a $11 million investment in digital bonds in a show of rising institutional interest. Watch | From BRICS to blockchain: How global trade and digital currencies are evolving title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Jordan News
29-04-2025
- Business
- Jordan News
Jordan and Kazakhstan Discuss Boosting Cooperation in Digital Innovation and Aviation Industry - Jordan News
Jordan's Minister of Digital Economy and Entrepreneurship, Eng. Sami Samirat, met with Kazakhstan's Minister of Digital Development, Innovation, and Aerospace Industry, Zhaslan Madiyev, and his accompanying delegation on an official visit to Jordan on Monday. The two sides explored ways to enhance bilateral cooperation and potential partnerships in the fields of innovation, advanced technologies, and the aviation industry. اضافة اعلان According to a statement issued by the Ministry on Tuesday, the Kazakh delegation held a series of field meetings with leading Jordanian institutions and companies, where they were briefed on key national achievements in innovation, digital transformation, and the defense industry. The delegation began its visit with a tour of "Deep Element," a Jordanian company specializing in the design, development, and integration of airspace security solutions. They received a detailed presentation on the company's innovative drone technologies. They also visited the Jordan Design and Development Bureau (JODDB), where efforts in advancing defense industries and fostering industrial innovation were showcased. Discussions covered opportunities for knowledge transfer, experience exchange, and collaboration in fields such as artificial intelligence, cybersecurity, and space technologies. A meeting was also held at the Ministry of Digital Economy and Entrepreneurship with the Kazakh delegation, the National Information Technology Center, and members of the board of the Information and Communications Technology Association of Jordan (int@j). The visitors were briefed on the council's strategic role in supporting digital transformation and shaping digital policies aligned with global trends. The discussions focused on strengthening cooperation between tech companies in both countries, exchanging expertise in entrepreneurship, digital transformation, and improving the investment climate for innovation. Both ministers emphasized their mutual commitment to deepening collaboration and expanding partnerships in technological and innovation sectors, supporting economic development, and advancing both countries' aspirations for a competitive digital economy. The Kazakh delegation will continue its meetings today with several government bodies, academic institutions, and private sector entities, as part of a visit aimed at solidifying strategic cooperation in digital innovation and aviation. This visit falls within broader efforts to enhance bilateral relations and expand cooperation in digital economy and advanced technologies, contributing to sustainable development in both countries. — (Petra)
