Latest news with #Edusave
Independent Singapore
07-07-2025
- Business
- Independent Singapore
S$500 in Child LifeSG Credits, Edusave, and PSEA top-ups to be disbursed from today; some Singaporeans already received credits
Photo: Depositphotos/ imtmphoto (for illustration purposes only) SINGAPORE: Over 450,000 Singapore Citizen (SC) children aged up to 12 will receive a one-off S$500 Child LifeSG Credit, while about 300,000 aged 13 to 20 will get a S$500 one-off top-up to their Edusave Account or Post-Secondary Education Account (PSEA) starting today, Monday (Jul 7), the Ministry of Education (MOE) and the Ministry of Social and Family Development (MSF) said in a joint press release on Thursday (Jul 3). These are part of the household support measures announced by Prime Minister Lawrence Wong at Budget 2025 to help families with child-raising and education-related costs. This is in addition to the annual Edusave contributions provided by the government. Each year, eligible SC students receive Edusave contributions for educational purposes. Earlier this year, primary school students received S$230, while secondary school students received S$290 in their Edusave accounts. Child LifeSG Credit The Child LifeSG Credit will be disbursed from this week to SC children born between 2013 and 2024. Children born in 2025 will receive it in April 2026. The Child Development Account (CDA) trustee of each eligible child will receive the CLC automatically and can access it through the digital wallet in the LifeSG application. No application is required. CLC recipients will be notified via SMS once it has been credited to their digital wallet in the LifeSG app. The credits can be used at physical and online merchants that accept payment through PayNow UEN QR and/or NETS QR to help households with daily expenses such as groceries, pharmacy items, transport, and utilities. Edusave Account, PSEA top-ups Singaporean children born between Jan 1, 2009 and Dec 31, 2012 will receive a S$500 top-up to their Edusave Account, while those born from Jan 1, 2005 to Dec 31, 2008 will get the same amount credited to their PSEA. The funds can be used to pay for approved fees and enrichment programmes, the ministries said. These top-ups will also be disbursed this July. Parents of eligible recipients will be notified via SMS. The ministries reminded parents that SMS notifications will only be sent from ' and will only contain information about the status of the top-up or disbursement. Recipients will also not be asked to reply to the message, click on links, or provide any information. Some Singaporeans online have shared that they already received the Child LifeSG Credit for one of their children while still waiting for the others. Others suggested it may be disbursed in batches. /TISG Read also: Over 950,000 eligible Singaporean households to get U-Save, S&CC rebates this July Featured image by Depositphotos (for illustration purposes only) () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Straits Times
03-07-2025
- Business
- Straits Times
Seller's stamp duty rate for private residential properties raised
Sign up now: Get ST's newsletters delivered to your inbox The latest changes will apply to all residential property purchased on and after 12am on July 4. SINGAPORE - Sellers of private homes will have to pay higher seller's stamp duty (SSD) rates of between 4 and 16 per cent if they sell a residential property less than four years after the date of purchase. The SSD is currently payable by those who sell a residential property within three years of purchase, at rates of between 4 and 12 per cent. The Ministry of National Development , Ministry of Finance and Monetary Authority of Singapore announced the longer holding period and higher rates, which will kick in on July 4, in a statement late at night on July 3. The authorities said that in recent years, the number of private residential property transactions with short holding periods has increased sharply. 'In particular, there has been a significant increase in the sub-sale of units that have not been completed,' they said. A sub-sale refers to the sale of a unit to another buyer before the unit is completed. The SSD was introduced in 2010 as a deterrent against flipping property for profit. It was relaxed in 2017, when sellers no longer had to pay SSD if they sell a residential property after a holding period of three years. Before that, SSD was payable if they sold a property after owning it for fewer than four years. Top stories Swipe. Select. Stay informed. Singapore 193ha of land off Changi to be reclaimed for aviation park; area reduced to save seagrass meadow Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 Singapore PAP questions Pritam's interview with Malaysian podcast, WP says PAP opposing for the sake of opposing Singapore 1 in 4 appeals to waive HDB wait-out period for private home owners approved since Sept 2022 Sport A true fans' player – Liverpool supporters in Singapore pay tribute to late Diogo Jota Singapore Healthcare facility planned for site of Ang Mo Kio Public Library after it moves to AMK Hub Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July The latest changes on July 4 will apply to all residential property purchased on and after 12am on July 4.
Straits Times
03-07-2025
- Sport
- Straits Times
Seventh seed Andreeva beats Bronzetti but still has work to do
Sign up now: Get ST's newsletters delivered to your inbox Tennis - Wimbledon - All England Lawn Tennis and Croquet Club, London, Britain - July 3, 2025 Russia's Mirra Andreeva during her second round match against Italy's Lucia Bronzetti REUTERS/Isabel Infantes LONDON - Seventh seed Mirra Andreeva blasted her way into the third round at Wimbledon on Thursday with a 6-1 7-6(4) victory over Italy's Lucia Bronzetti and thanked her coach, former Wimbledon champion Conchita Martinez, for making her work hard. The 18-year-old Russian was the only teenager from six women's starters to have made it through to the second round and she looked sure-footed on Wimbledon's grass, the surface where she hit the headlines aged 16 with a whirlwind race to the fourth round in 2023. She completely dominated her 26-year-old opponent in the first set on Thursday using her big serve, heavy slice and neat net play to wrap it up in 23 minutes. But she had a fight on her hands in the second as Bronzetti, ranked a lowly 63, found her stride and range in the second. Andreeva eventually triumphed on her second match point in the tiebreak, with a fine forehand volley winner. "I got a little bit nervous and she started to play better," Andreeva said in a courtside interview before adding she would not be getting much time off because she had doubles to play and then Martinez would want to run over some elements of her game. "She's not going to let me go home," the Russian said. "She pushes me to my limits so thanks for that, I guess," she added to smiles from Martinez in the coaches' box on Court One. Top stories Swipe. Select. Stay informed. Singapore 193ha of land off Changi to be reclaimed for aviation park; area reduced to save seagrass meadow Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 Singapore PAP questions Pritam's interview with Malaysian podcast, WP says PAP opposing for the sake of opposing Singapore 1 in 4 appeals to waive HDB wait-out period for private home owners approved since Sept 2022 Sport A true fans' player – Liverpool supporters in Singapore pay tribute to late Diogo Jota Singapore Healthcare facility planned for site of Ang Mo Kio Public Library after it moves to AMK Hub Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Business 60 S'pore firms to get AI boost from Tata Consultancy as it launches new innovation centre here Spaniard Martinez was an unheralded winner of the title in 1994, beating nine-times champion Martina Navratilova in the final. Andreeva and compatriot Diana Shnaider are seeded fifth in the doubles and scheduled to play British pair Heather Watson and Emily Appleton on an outside court later on Thursday. Andreeva will play Hailey Baptiste of the United States, who beat Canada's Victoria Mboko on Thursday, in the third round of the singles on Saturday. REUTERS
Straits Times
03-07-2025
- Politics
- Straits Times
‘Japanese First': PM Ishiba must address anti-foreigner sentiment ahead of Upper House poll
Sign up now: Get ST's newsletters delivered to your inbox – The last thing a country's leader is expected to do is to publicly slag off the proud traditions of their nation. But Japan's Prime Minister Shigeru Ishiba has caused a stir by seeming to have done just that on July 2, when he described the Japanese language and customs as 'very tedious'. The remark was made in the context of helping foreigners better assimilate into society and recognising the need to ease immigration policies to plug Japan's growing labour shortfall, given its falling birthrates and an ageing population . 'We want foreigners to properly learn the 'very tedious' Japanese language and customs – even at the expense of the Japanese government – and only allow in those who follow Japan's laws,' he said, stressing that there is a place for foreigners who respect Japan's traditions. He was speaking at a debate of the leaders of contesting political parties, held on the eve of Nomination Day for the July 20 Upper House election. Perhaps it was a backhanded attempt to seem relatable, but it has led to the piling of even more heat on a beleaguered leader who is already facing pressure from all sides. Veteran lawmaker Ichiro Ozawa of the main opposition Constitutional Democratic Party of Japan (CDP) criticised Mr Ishiba, saying: 'I cannot sense any reverence for the Japanese language, traditions, or culture. These remarks will offend many citizens and are completely unbecoming of a prime minister.' Top stories Swipe. Select. Stay informed. Singapore 193ha of land off Changi to be reclaimed for aviation park; area reduced to save seagrass meadow Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 Singapore PAP questions Pritam's interview with Malaysian podcast, WP says PAP opposing for the sake of opposing Singapore 1 in 4 appeals to waive HDB wait-out period for private home owners approved since Sept 2022 Sport A true fans' player – Liverpool fans in Singapore pay tribute to the late Diogo Jota Singapore Healthcare facility planned for site of Ang Mo Kio Public Library after it moves to AMK Hub Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Business 60 S'pore firms to get AI boost from Tata Consultancy as it launches new innovation centre here But worse, Mr Ishiba's gaffe plays directly into the hands of the young upstart party Sanseito, which has made 'Japanese First' its campaign slogan and struck a chord with the Japanese public in directly taking a leaf from the playbook of United States President Donald Trump's Make America Great Again movement. Its 47-year-old leader Sohei Kamiya, who has a juris doctor degree in law, is known for a history of anti-vaccine propaganda but is now fast gaining attention for his anti-foreigner rhetoric. His party wants to curb foreigner numbers – both immigrants and tourists – and levy heavy taxes on foreign purchases of Japanese land and real estate to prevent Japan from 'becoming an economic colony'. It has also accused foreigners of fostering crime in Japan. The party's nationalistic stance has won it backers including former Air Self-Defence Force chief of staff Toshio Tamogami. 'The Trump administration is defending the national interests of Americans, and this wave is spreading to Europe and other places,' Mr Kamiya said at the debate on July 2. 'The Prime Minister does not believe this applies to Japan. People say this as 'far-right' but we do not think so. And since the global trend is changing, Japan should keep up with the times,' he added. The problem with such rhetoric, even as Mr Kamiya insists the party is 'not xenophobic but just anti-globalism', is that it easily plays to the gallery in Japan, a generally inward-looking nation where just 17.5 per cent of its citizens have passports. The unfortunate reality is that many Japanese are taught from a young age that their country is 'homogenous' and an 'island nation'. And Mr Kamiya's statements feed into an us-versus-them mentality, at a time when many are suffering from rising costs of living. Juxtapose that against the ills associated with overtourism and foreigners swooping in to snap up land and real estate assets that have driven up prices . This is as only 60 per cent of Japanese possess their own homes. Sanseito has enjoyed a meteoric rise since its establishment in 2020, leveraging the power of social media and controversy. On YouTube, it has the distinction of being the most-followed political party in Japan, with 353,000 subscribers, where it spews allegations of foreigners getting 'preferential treatment'. Sanseito leader Sohei Kamiya is now fast gaining attention for his anti-foreigner rhetoric. PHOTO: REUTERS According to media surveys, Sanseito now ranks as the third- or fourth-most popular political party in Japan, behind the ruling Liberal Democratic Party (LDP), CDP and, sometimes, the Democratic Party for the People. Mr Kamiya has cited the examples of Singapore and Dubai in saying how his party will prioritise foreign talent as well as transient workers in areas where there is a manpower shortage. 'We want to rebuild Japan so that we can make this country great again,' he said. Sanseito may still be a small party – it has five lawmakers across the lower and upper houses of Japan's bicameral legislature – but more established parties like the LDP are sitting up and taking note. Rather than ignoring its statements as inconsequential hot air, the LDP wrote into its campaign manifesto a pledge for 'zero illegal foreigners'. Under Mr Ishiba, the LDP has vowed to clamp down on foreigners who fail to pay medical bills, taxes and social insurance premiums. The party's more hawkish camp wants to abolish duty-free shopping for tourists altogether, among other things. Under Japanese Prime Minister Shigeru Ishiba, the Liberal Democratic Party has vowed to clamp down on foreigners who fail to pay medical bills, taxes and social insurance premiums. PHOTO: REUTERS While the battle for votes on July 20 is largely centred on the cost of living, with the LDP promising cash handouts and opposition parties pledging temporary cuts to the sales tax , immigration remains an emotive flashpoint that has drawn supporters and protesters alike to rallies. Much is at stake, and the ruling coalition of LDP and Komeito is trying to defend its majority in the 248-seat chamber. A total of 522 candidates are vying for the 125 seats up for grabs. Lawmakers serve a fixed six-year term in the chamber which, unlike the Lower House, cannot be dissolved. A poll is held every three years, for half the chamber's members whose tenures are expiring. There is an additional seat up for election in this cycle to fill a vacancy. The ruling coalition has 75 uncontested seats, and Mr Ishiba has said his goal is for the bloc to secure a majority by winning at least 50 seats. If it fails to do so, Japan will face the spectre of a political stalemate – or worse, upheaval – given that Mr Ishiba leads a minority government after the coalition lost its majority in the Lower House in an October 2024 snap election . Mr Ishiba has shown remarkable staying power despite his limp Cabinet support ratings, but he has struggled to tame inflation at home. Mr Trump's recent broadsides of Japan as 'very spoiled' in tariff negotiations cannot come at a worse time for him. Sanseito is fielding 55 candidates and aims to secure a total of six seats in the Upper House. While this election will not unseat the incumbent government, the risk is that the seeds of anti-globalisation are being planted, to be sown in future elections. That is something Mr Ishiba can combat by better conveying how Japan should be a vanguard for globalisation and an accepting place for all, and demonstrate to its voters how that would be a far better option than isolationism. Japan had gone down that route during the feudal era, which stunted its technological, economic and social progress.
Straits Times
03-07-2025
- Business
- Straits Times
Do international carbon credits fight climate change?
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: A coal-fired power station scheduled to shut down is seen in As Pontes, Spain, February 8, 2022. Picture taken February 8, 2022. REUTERS/Miguel Vidal/File Photo BRUSSELS - The European Commission has proposed an EU climate target for 2040 that allows countries to count carbon credits bought from developing nations towards the EU goal for the first time. Here's what that means, and why the EU move on Wednesday faced criticism from campaigners and some scientists. WHAT ARE CARBON CREDITS? Carbon credits, or offsets, involve funding projects that reduce CO2 emissions abroad in place of cuts to your own greenhouse gas emissions. Examples include forest restoration in Brazil, or converting a city's petrol buses to electric. The buyer counts "credits" for those emission reductions towards its climate goal, and the seller gets finance for their green project. Proponents say the system generates much-needed funding for CO2-cutting efforts in developing nations and lets countries work together to cut emissions around the world. However, the reputation of CO2 credits has been dented by a string of scandals in which credit-generating projects failed to deliver the climate benefits they claimed. Top stories Swipe. Select. Stay informed. Singapore 193ha of land off Changi to be reclaimed for aviation park; area reduced to save seagrass meadow Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 Singapore PAP questions Pritam's interview with Malaysian podcast, WP says PAP opposing for the sake of opposing Singapore 1 in 4 appeals to waive HDB wait-out period for private home owners approved since Sept 2022 Sport A true fans' player – Liverpool fans in Singapore pay tribute to the late Diogo Jota Singapore Healthcare facility planned for site of Ang Mo Kio Public Library after it moves to AMK Hub Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Business 60 S'pore firms to get AI boost from Tata Consultancy as it launches new innovation centre here WHY IS THE EU BUYING THEM? The European Commission proposed allowing up to 3 percentage points of the EU's 2040 target - to cut net emissions by 90% from 1990 levels - to be covered by carbon credits bought from other countries. The EU's existing climate targets require countries to meet the goals entirely by cutting emissions at home. The bloc's executive Commission said last year it hoped the EU could agree a 90% emissions-cutting target for 2040, with no mention of carbon credits. Tumultuous geopolitics and the economic woes of European industries have since stoked political pushback, with governments from Germany to Poland demanding a softer target. In response, the Commission said it would add flexibilities, and landed on carbon credits as a way to retain a 90% emissions-cutting goal while reducing the domestic steps needed to reach it. EU countries and the European Parliament must negotiate and approve the goal. WHAT ARE THE RISKS? The EU plan was welcomed by countries including Germany, which had pushed to include carbon credits in the goal, and by carbon credit project developers as a boost for climate finance. But environmental campaigners said the EU was shirking domestic CO2-cutting efforts and warned against relying on cheap, low-value credits. The EU's climate science advisers had also opposed buying credits under the 2040 target, which they said would divert money from investments in local clean industries. The EU banned international credits from its own carbon market after a flood of cheap credits with weak environmental benefits contributed to a carbon price crash. To try to address the risks, the Commission said it would buy credits in line with a global market and rules for trading carbon credits which the U.N. is developing. These include quality standards aimed at avoiding the problems that unregulated credit trading has faced in recent years. Brussels will also propose rules next year on specific quality standards for the carbon credits the EU buys. HOW MUCH WILL IT COST? The EU doesn't yet know. Carbon credit prices today can be as low as a few dollars per tonne of CO2, up to more than $100, depending on the project. EU emissions records suggest the bloc would need to buy at least 140 million tonnes of CO2 emissions to cover 3% of the 2040 target, roughly equivalent to the Netherlands' total emissions last year. One senior Commission official said the bloc was determined not to hoover up cheap junk credits. "I don't think that would have any additional value. The credits we see currently on voluntary carbon markets are very, very cheap, and that probably reflects a lack of high environmental integrity," the senior official said. REUTERS
