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CNA938 Rewind - Mind Your Money - (Mis)using AI in the classroom?

CNA938 Rewind - Mind Your Money - (Mis)using AI in the classroom?

CNA15-07-2025
From writing essays to fixing grammar, students are turning to AI tools more than ever. But where do we draw the line between using it to learn and using it to cheat? Cheryl Goh looks at how AI is changing schoolwork, the recent NTU case that sparked debate, and what it means for the future of learning with Associate Professor Jason Tan, National Institute of Education – Policy, Curriculum and Leadership
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Airwallex launches investment product to help businesses grow idle cash
Airwallex launches investment product to help businesses grow idle cash

Straits Times

time21 minutes ago

  • Straits Times

Airwallex launches investment product to help businesses grow idle cash

Find out what's new on ST website and app. The new Airwallex Yield product is aimed at small business customers or customers on Airwallex. SINGAPORE - Fintech firm Airwallex has unveiled a new investment product aimed at helping businesses earn returns on unused funds, entering a competitive market where rivals also court companies seeking better yields on spare cash. Rolled out on July 28, the product invests in money market funds (MMFs) and offers returns of up to 1.29 per cent per annum for Singapore-dollar funds and up to 3.84 per cent for US-dollar funds. The new Airwallex Yield product is aimed at small business customers or customers on Airwallex, said Mr Arnold Chan, Airwallex's general manager for Asia-Pacific excluding China. 'Airwallex Yield will allow businesses to earn returns on their surplus Singapore-dollar and US-dollar funds by investing through investment-grade money market funds, while maintaining access to both liquidity and control over their cash,' he told The Straits Times. A MMF invests in a range of liquid, low-risk assets, which typically include cash and short-term instruments such as treasury bills, commercial paper, and certificates of deposit. Airwallex's yield product invests in several Goldman Sachs and Fullerton funds. The Singapore launch follows earlier rollouts in Australia and Hong Kong. Since its November 2023 debut in Australia, the product has attracted about US$200 million (S$256 million) in funds. Airwallex offers a suite of financial products for businesses, including global business accounts, cross-border payments and expense management tools. The firm said it is seeing a huge demand from customers in Singapore who want to earn returns while maintaining flexibility to move funds quickly. Over 80 per cent of its annual revenue comes from customers who use more than one Airwallex service and the firm expects to cross-sell the new product to its existing customers. The firm also plans to target technology companies, especially those backed by venture capital and holding substantial idle cash reserves, as well as e-commerce players and retailers that receive customer payments upfront but pay suppliers later. By investing these interim funds, they can generate additional returns. Trading businesses involved in importing and exporting can also benefit by putting their idle cash or working capital to work, said Mr Chan. He added that withdrawals are flexible and settlement is typically completed within one business day, provided that cut-off times were met. Airwallex joins a competitive field in Singapore, where firms like StashAway and Syfe already offer MMF products to businesses seeking returns on idle cash with flexible access. Most MMFs in Singapore invest in fixed deposits, government securities and commercial papers. Airwallex customer GlobalTix, a ticketing software and distribution platform for the tourism sector, said that it considers flexibility, liquidity, tenure and yield as key factors when deciding how to deploy idle cash. GlobalTix's co-founder and chief operating officer Chan Chee Kong said fixed deposits are less suitable for the company because they tie up funds for a set period – limiting access when quick payments to suppliers or vendors are needed. 'I need to have that flexibility around moving my funds in and out,' he said. Another key consideration is managing different currencies given the global nature of the firm's business, he added. He noted that Airwallex is not the first to offer the solution, adding that GlobalTix currently uses a similar offering from a competitor. However, if GlobalTix were to use Airwallex's new offering, it would benefit from having all its financial tools on a single platform – making it easier to monitor and manage its cash flow, he said. Lovet, a homegrown fashion brand and Airwallex customer, is considering the new yield product, its director Lee Wei Leong said. With interest rates declining, he said the company is exploring options. 'If we leave our money in a normal savings account, the value of the money is going to be eroded by inflation.' As an SME without venture capital backing, liquidity is key. If Lovet were to open a new outlet, it will need to be able to cash out quickly to fund the expansion, he added.

Musk says Tesla, Samsung Electronics sign chip supply deal
Musk says Tesla, Samsung Electronics sign chip supply deal

CNA

time3 hours ago

  • CNA

Musk says Tesla, Samsung Electronics sign chip supply deal

SEOUL :Tesla CEO Elon Musk said on Monday that the U.S. automaker has signed a deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business. On Saturday, Samsung announced a $16.5 billion chip supply deal with a major global company, without naming the client. It said the customer had requested confidentiality about the details of the deal, which will run through the end of 2033. Three sources briefed about the matter told Reuters that Tesla was the customer for the deal. The deal comes as Samsung faces mounting pressure in the race to produce artificial intelligence chips, where it trails rivals such as TSMC and SK Hynix. This lag has weighed heavily on its profits and share price. Samsung, the world's top memory chip maker, also makes logic chips designed by customers through its foundry business. Pak Yuak, an analyst at Kiwoom Securities, said the latest deal would help reduce losses at Samsung's foundry business, which he estimated exceeded 5 trillion won ($3.63 billion) in the first half of the year. Analysts say Samsung has struggled with the defection of key clients to TSMC for advanced chips. TSMC counts Apple, Nvidia and Qualcomm among its customers. The Samsung-Tesla deal is also significant for South Korea, which is seeking U.S. partnerships in chips and shipbuilding amid last-ditch efforts to reach a trade deal to eliminate or reduce potential 25 per cent U.S. tariffs. It is not clear how the order would affect Samsung's plan to start production at its new factory in Texas, which has been delayed as it struggles to win major customers. Samsung is grappling to boost production yields of its latest 2-nanometer technology, and the order is unlikely to involve the cutting-edge tech, Lee Min-hee, an analyst at BNK Investment & Securities, said. Samsung has been losing market share to TSMC in contract manufacturing, underscoring technological challenges the firm faces in mastering advanced chip manufacturing to attract clients like Apple and Nvidia, analysts said.

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