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Independent Singapore
08-07-2025
- Business
- Independent Singapore
Eligible Singaporeans to receive up to S$850 in GST Voucher cash payouts from Aug 6 and up to S$450 in MediSave top-ups from Aug 11
Photo: Depositphotos/Mizkit SINGAPORE: From Aug 6, more than 1.5 million eligible adult Singaporeans will receive up to S$850 in cash payouts, depending on their assessable income for the Year of Assessment 2024 and the annual value of their home. About 690,000 seniors will also receive up to S$450 in MediSave top-ups from Aug 11 as part of the Goods and Services Tax Voucher (GSTV) scheme, the Ministry of Finance (MOF) said on Monday (Jul 7). As 'the incomes of lower- and middle-income Singaporeans have improved,' the assessable income threshold for GSTV – Cash will be raised from S$34,000 to S$39,000 starting this August, the ministry said. GSTV – Cash Payouts Eligible adult Singaporeans will receive: S$850 if they live in homes with annual values of S$21,000 or below S$450 if they live in homes with annual values between S$21,000 and S$31,000 Cash payouts will be disbursed from Aug 6 for PayNow-NRIC, Aug 15 for GIRO, and Aug 22 for those receiving the payouts through GovCash. GSTV – MediSave top-ups Eligible seniors will receive the following amounts from Aug 11 based on their age and the annual value of their homes: Aged 65 to 74: S$250 if they live in homes with annual values of S$21,000 or below S$150 if they live in homes with annual values between S$21,000 and S$31,000 Aged 75 to 84: S$350 if they live in homes with annual values of S$21,000 or below S$250 if they live in homes with annual values between S$21,000 and S$31,000 Aged 85 and above: S$450 if they live in homes with annual values of S$21,000 or below S$350 if they live in homes with annual values between S$21,000 and S$31,000 Singaporeans who own more than one property are not eligible for the cash payouts and MediSave top-ups. Eligible recipients who have signed up for the GSTV – Cash and MediSave will automatically receive their payments and be notified via SMS once the money has been credited. Those without a Singpass-registered mobile number will receive a letter at the address listed on their Singapore identity card. Citizens can check their eligibility and sign up for the benefits at using their SingPass. Those who sign up by Jul 13 will receive their GSTV – Cash or MediSave top-ups in August. However, for sign-ups made from Jul 14 to Jun 20, 2026, they will get their cash payouts and MediSave top-ups within the next two months after signing up. 'Lower- to middle-income Singaporeans and households have been receiving help to defray their GST and daily expenses through the permanent GSTV Scheme,' said MOF. About S$1.5 billion will be disbursed under this year's GSTV exercise, on top of other support measures Singaporeans will receive in FY2025. /TISG Read also: S$500 in Child LifeSG Credits, Edusave, and PSEA top-ups to be disbursed from today; some Singaporeans already received credits 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
08-07-2025
- Business
- Straits Times
Indonesia pledges to buy more US wheat in bid for trade deal
Sign up now: Get ST's newsletters delivered to your inbox Indonesia signed a memorandum of understanding for US wheat purchases that spans this year through 2030. JAKARTA – Indonesia, the world's second-biggest wheat buyer, plans to purchase more wheat from the US as it seeks to secure a trade deal ahead of the looming tariff deadline. The South-east Asian nation signed a memorandum of understanding (MOU) for US wheat purchases that spans this year through 2030, Mr Franciscus Welirang, the chairman of the Indonesian Flour Mills Association – known as Aptindo – said at a ceremony on July 7 in Jakarta. The deal is valued at about US$1.25 billion (S$1.6 billion) , he said. As part of the MOU, Indonesia may buy at least 800,000 tons of wheat from the US this year, up from 740,000 tons in 2024, and a minimum of 1 million tons annually from 2026, he said. The US last sold more than 1 million tons of wheat to Indonesia in 2020, when it shipped about 1.2 million tons, US Department of Agriculture (USDA) figures show. While the new pledge marks an increase, it still represents a fraction of Indonesia's total wheat purchases. The USDA forecasts the country's imports at 12 million tons in the 2025 to 2026 season. The agreement will increase access for US wheat in Indonesia and help ensure a stable and steady market, Mr Joe Sowers, regional vice-president for South and South-east Asia for industry group US Wheat Associates, said after the signing in Jakarta. Top stories Swipe. Select. Stay informed. World 25% on Japan and Malaysia, 40% on Laos: Trump's tariff letters to Asia add pressure for deals by Aug 1 Business US stocks knocked lower by tariff jitters; Musk's political plan hits Tesla World Netanyahu says has nominated Trump for Nobel Peace Prize Singapore Fastest charger to be added to Singapore's EV charging network by Q4 in 2025 Singapore Singapore's second mufti Sheikh Syed Isa Semait dies at age 87 Singapore Fewer marriages in Singapore in 2024; greater marital stability for recent unions Singapore Competition watchdog gives SIA, Malaysia Airlines conditional approval to continue cooperation Singapore Eligible S'poreans to get up to $850 in GSTV cash, up to $450 in MediSave top-ups in August Seven major wheat suppliers, including Cargill and Bunge Global SA, will participate in the market based on their price competitiveness, he said. The nation mainly buys wheat from Australia, Canada and the US, Mr Welirang said, adding that the country may import about 9.5 million tons for the flour industry this year and the rest for feed. Indonesia also plans to sign similar pledges to boost purchases of other commodities, including corn and soybeans, at an event on July 7 in Washington, according to Mr Pujo Setio, an official from the nation's Coordinating Ministry for Economic Affairs. BLOOMBERG
Straits Times
07-07-2025
- Business
- Straits Times
Investors flock to US dollar as Trump unveils US tariff plans
Sign up now: Get ST's newsletters delivered to your inbox The jump in the US dollar is a sign investors are confident the US economy can largely withstand the impact of trade disputes. NEW YORK – The US dollar jumped the most in three weeks after President Donald Trump unveiled a wave of proposed tariffs, a sign investors are confident the US economy can largely withstand the impact of trade disputes. The greenback strengthened 0.5 per cent against a basket of peers on July 7, picking up steam after Mr Trump announced levies on a handful of countries. The Bloomberg Dollar Spot Index rose the most since June 17 and currencies across the globe slumped, with Japan's yen, South Korea's won and Brazil's real among those sinking more than 1 per cent. 'The fact that some of the more problematic policies from the US administration have been dialed back – and there are deals getting done – means that the economic pain for the US won't be as bad as originally feared,' said Skylar Montgomery Koning, a currency strategist at Barclays. The dollar's decline this year – down about 9 per cent – already reflects the potential negative impact from tariffs meaning foreign currencies are likely to decline more, she added. Mr Trump on July 7 announced levies of between 25 per cent and 40 per cent on countries from Japan and South Korea to Laos and Myanmar, with more expected. They are set to enter effect on August 1. The sweeping 'Liberation Day' tariffs announced in April shook investor faith in the traditional haven status of the US currency and fueled concern the aggressive levies would push the economy into recession. But investors have begun to recalibrate recently with last week's strong US strong jobss data adding to support for the greenback. Pricing for Federal Reserve interest-rate cuts has eased since the jobs print, with traders betting on around 51 basis points of easing by year-end on July 7, compared with 65 basis points a week ago. Top stories Swipe. Select. Stay informed. World 25% on Japan and Malaysia, 40% on Laos: Trump's tariff letters to Asia add pressure for deals by Aug 1 Business US stocks knocked lower by tariff jitters; Musk's political plan hits Tesla Multimedia 'I suspect he's cheating': She finds proof when spouses stray Singapore Eligible S'poreans to get up to $850 in GSTV cash, up to $450 in MediSave top-ups in August Singapore Singapore's second mufti Sheikh Syed Isa Semait dies at age 87 Singapore Fewer marriages in Singapore in 2024; greater marital stability for recent unions Singapore Competition watchdog gives SIA, Malaysia Airlines conditional approval to continue cooperation Singapore About 20 delivery riders meet Pritam Singh to discuss platform worker issues Uncertainty related to US trade policies, the economic outlook and tariff-related inflation 'could push back a rate cut from where we've been anticipating, September, for quite some time, until December or even into next year,' Kathy Jones, chief fixed income strategist at Charles Schwab, told Bloomberg Television on July 7. In Japan, which faces a 25 per cent tariff, the yen fell as much as 1.2 per cent to 146.24 per US dollar, the weakest level in two weeks. In South Korea, where the levy would also be 25 per cent, the won slipped about 1.1 per cent. For nations elsewhere, lingering uncertainty over the final tariff rate is still hurting. The MSCI gauge of emerging-market currencies fell 0.5 per cent, the biggest intraday drop in three months. Mr Trump threatened an extra 10 per cent tariff on any country aligning itself with what he called 'the Anti-American policies' of the BRICS group. South Africa's rand underperformed, down by about 1.5 per cent. India's rupee, Brazil's real and China's offshore yuan also declined. The term Brics originally referred to Brazil, Russia, India, China and South Africa, but has since expanded to include other developing nations. Mr Trump has said trading partners can expect a rate anywhere between 10 per cent and 70 per cent – implying some may have to shoulder higher tariffs than expected – though he suggested some deals are in the offing, too. BLOOMBERG
Straits Times
07-07-2025
- Politics
- Straits Times
US threatens California with legal action over transgender sports law
Sign up now: Get ST's newsletters delivered to your inbox US Education Secretary Linda McMahon threatened the state of California with legal action after the state refused to ban transgender girls from participating in girls' sports. WASHINGTON - US Education Secretary Linda McMahon on July 7 threatened the state of California with legal action after the state refused to ban transgender girls from participating in girls' sports as demanded by President Donald Trump's administration. '@CAgovernor, you'll be hearing from @AGPamBondi,' Mrs McMahon wrote, using the handles for California Governor Gavin Newsom and US Attorney General Pam Bondi. Mrs McMahon's statement on X was the latest salvo in the culture wars over transgender youth and ratchets up the personal rivalry between Mr Trump and Mr Newsom. Mr Trump has made reversing advances in transgender rights a priority since returning to office on Jan 20, while California law has allowed student-athletes to participate in sports in alignment with their gender identity since 2013. The Justice Department declined to comment and the Education Department did not immediately respond to a Reuters request for clarification on the meaning of Mrs McMahon's comment. California's state Education Department did not immediately respond to a request for comment. Mr Newsom's office and the California Interscholastic Federation (CIF), the governing body for high school sports, declined to comment. The US Education Department issued a statement in June declaring California in violation of the Trump administration's interpretation of Title IV, the education law banning sex-based discrimination, and demanding the state alter its policy. Top stories Swipe. Select. Stay informed. World 25 per cent for Malaysia, 36 for Thailand, 40 for Laos: Trump delivers tariff letters to Asian partners Business US stocks knocked lower by tariff jitters; Musk's political plan hits Tesla Singapore Eligible S'poreans to get up to $850 in GSTV cash, up to $450 in MediSave top-ups in August Singapore Four golf courses to close by 2035, leaving Singapore with 12 courses Singapore Singapore's second mufti Sheikh Syed Isa Semait dies at age 87 Singapore Fewer marriages in Singapore in 2024; greater marital stability for recent unions Singapore Competition watchdog gives SIA, Malaysia Airlines conditional approval to continue cooperation Singapore About 20 delivery riders meet Pritam Singh to discuss platform worker issues The state rejected the federal government's directive, and in June filed a pre-enforcement lawsuit against the US Justice Department in anticipation of legal action. With controversy brewing ahead of the state high school track and field championship in June, the CIF allowed girls displaced from the finals by a transgender athlete to also be granted space to compete. The CIF also allowed girls to appear on the winners' podium if they would have won a medal without a transgender athlete competing. As a result, the CIF crowned two champions in the girls' high jump and triple jump after transgender girl AB Hernandez won both events. REUTERS
Straits Times
07-07-2025
- Politics
- Straits Times
UK inquiry seeks answers over Southport girls' murders
LONDON - A public inquiry into the murders of three young girls at a Taylor Swift-themed dance event in Southport in Britain last year begins on Tuesday, seeking to determine whether the rampage could have been prevented and how to stop any similar atrocity. Teenager Axel Rudakubana, who was obsessed with violence and genocide, launched the knife attack at the summer vacation event in northern England last July, killing the girls and wounding another 10. The incident shocked the nation and was followed by days of nationwide rioting. Just 17 at the time of the attack, Rudakubana was jailed in January for at least 52 years after he admitted the offences just as his trial was about to start. Prosecutors said his motive was not clear and it appeared to be simply the desire to commit mass murder. After the conviction, Prime Minister Keir Starmer ordered the inquiry into state failings as it emerged in the trial that Rudakubana had been referred to a counter-radicalisation scheme three times, but no action had been taken. Rudakubana had been involved in previous troubling incidents where he had been arrested carrying a knife. He had also admitted possessing an al Qaeda training manual and producing the lethal poison ricin. "My focus throughout this inquiry will be a thorough and forensic investigation of all the circumstances surrounding the attack and the events leading up to it," the inquiry chair, Adrian Fulford, said in a statement. Top stories Swipe. Select. Stay informed. World 25 per cent for Malaysia, 36 for Thailand, 40 for Laos: Trump delivers tariff letters to Asian partners Business US stocks knocked lower by tariff jitters; Musk's political plan hits Tesla Singapore Eligible S'poreans to get up to $850 in GSTV cash, up to $450 in MediSave top-ups in August Singapore Four golf courses to close by 2035, leaving Singapore with 12 courses Singapore Singapore's second mufti Sheikh Syed Isa Semait dies at age 87 Singapore Fewer marriages in Singapore in 2024; greater marital stability for recent unions Singapore Competition watchdog gives SIA, Malaysia Airlines conditional approval to continue cooperation Singapore About 20 delivery riders meet Pritam Singh to discuss platform worker issues The inquiry will begin by looking at the teenager's history and involvement with public bodies, before a second phase examines the wider issue of children being drawn into violence, an increasing concern for British authorities. Lawyers for the three murdered girls - Bebe King, six, Elsie Dot Stancombe, seven, and Alice Dasilva Aguiar, nine - said they hoped it would uncover the truth. "We know that nothing the inquiry reveals, or subsequently recommends will change the unimaginable loss felt by the families of Elsie, Alice and Bebe, but we all now have a responsibility to ensure that something like this never happens again," they said in a statement. REUTERS
