Regional News

HSBC and Juspay have announced a strategic partnership to develop a pioneering acquiring platform designed for digital-first, global merchants. This collaboration merges HSBC’s extensive global network with Juspay’s advanced payment infrastructure to create a comprehensive, full-stack solution. The platform promises to streamline the payment process by consolidating the entire payment value chain into a single, unified stack, offering merchants improved payment success rates, cost savings, and enhanced reliability.

The new platform is set to provide merchants with access to multiple payment methods through a single provider, significantly simplifying the management of various payment options. Lewis Sun, Global Head of Domestic and Emerging Payments at HSBC, stated, “The acquiring platform we’re building with Juspay is a full-stack, future-ready solution that meets the fast-changing needs of today’s payments landscape.”

Sheetal Lalwani, Co-Founder and COO of Juspay, expressed enthusiasm about the partnership, noting, “Together, we are building a platform that bridges institutional scale with the agility of modern technology.” The platform is engineered for speed, flexibility, and reliability, offering features such as native and customised checkout UI, smart routing, risk and fraud management, and transaction processing.

This collaboration marks a significant step in the evolution of acquiring services, setting a new benchmark for how banks and fintech companies can co-create high-performance infrastructure. The platform is expected to empower digital merchants to scale their operations more efficiently, focusing on business growth rather than payment complexities.

The Julius Baer Family Barometer Report 2025, in collaboration with PwC Switzerland, highlights a significant shift among Asia’s ultra-high-net-worth (UHNW) families. The report, which surveyed nearly 2,500 experts globally, reveals that these families are increasingly prioritising legacy building over traditional succession planning amidst geopolitical turbulence and digitalisation.

The findings underscore a generational change, with families integrating wealth, governance, and educational planning across borders. This shift is facilitated by the rise of family offices, particularly single-family offices, which have surged in popularity in Singapore and Hong Kong. Over 2,000 family offices were established in Singapore by 2024, marking a 43% increase year-on-year, whilst Hong Kong hosts more than 2,700.

Key family-related topics in Asia now include succession planning, individual and family growth opportunities, and building a family legacy. Investment priorities focus on geopolitical diversification, inflation protection, and real estate. Societal concerns such as taxation, intergenerational wealth transfer, and political stability also rank highly.

The report notes that cost and complexity remain barriers to establishing dedicated family offices, prompting interest in hybrid models. Additionally, Asia leads globally in outsourcing cybersecurity, with 48% of families opting for external solutions.

As Singapore and Hong Kong continue to attract UHNW individuals with their robust infrastructure and regulatory clarity, the region’s wealthy families are redefining their priorities to ensure their wealth strategies are resilient and aligned with shared values. This evolution reflects a broader trend towards professionalisation and strategic continuity in wealth management.

A recent study by Tarifica reveals a stark contrast in broadband pricing between Singapore and the United States. Whilst Singaporean households can access 10 gigabit fibre broadband for as low as US$22 per month, American consumers face prices up to US$195 for similar services. This disparity is attributed to differing market structures and regulations, not technological differences.

Singapore’s wholesale open-access model, established in 2008, allows internet service providers to lease capacity from a shared fibre network, fostering a competitive market. “In Singapore, the effects of this structure are easy to see,” said Soichi Nakajima, Vice President of Data and Analysis at Tarifica. “Multiple ISPs compete vigorously, prices adjust quickly, and very high speeds are treated as standard for households.”

In contrast, the US market is dominated by vertically integrated operators, limiting competition and allowing broadband to be marketed as a premium service. This results in American consumers paying significantly more per gigabit than their Singaporean counterparts.

Tarifica’s findings suggest that broadband affordability will increasingly influence digital inclusion and national competitiveness. As demand for high-speed internet grows with advancements in technology, the ability to offer affordable broadband will determine how quickly consumers and businesses can adopt new services. The study underscores the importance of market design in shaping access to digital resources, with Singapore’s model promoting widespread connectivity and the US model maintaining broadband as a luxury.

The Singapore Index of Inflation Expectations (SInDEx) survey, conducted by Singapore Management University (SMU) and co-sponsored by DBS Group Research, reveals a decline in Singaporeans’ inflation expectations. The survey, led by Dr. Aurobindo Ghosh, shows that the One-year-Ahead headline inflation expectations fell to 3.3% in September 2025, down from 3.5% in June 2025. This marks the lowest level since December 2021.

The survey, which includes responses from around 500 Singaporean households, indicates that the overall aggregated Consumer Price Index (CPI) inflation expectations also dropped significantly to 3.2% in September 2025 from 4.9% in June 2025. Dr. Ghosh noted, “The decline in inflation expectations across all categories signals that despite geopolitical and policy uncertainty, consumers expect price increases to be muted over the next 12 months.”

The Monetary Authority of Singapore’s (MAS) recent data supports these findings, showing a modest rise in the CPI-All Items by 0.8% between January and August 2025 compared to the same period in 2024. The MAS Core Inflation Measure stood at 0.3% year-on-year in August 2025.

The survey also highlights that Singaporean consumers anticipate a slight negative impact on the country’s economic growth due to global economic developments. Despite this, respondents believe their household financial situation will remain stable over the next year. The survey’s findings suggest a mix of cautious optimism and uncertainty among Singaporeans regarding future inflation trends and economic conditions.

ST Engineering has announced the creation of its Cybersecurity Centre of Excellence (CoE) to accelerate the development of agentic AI-driven cybersecurity solutions. Supported by Digital Industry Singapore and the Cyber Security Agency of Singapore, the CoE will enhance ST Engineering’s cybersecurity capabilities, foster talent, and drive innovation in the sector.

The CoE will initially employ 26 specialists, expanding to a team of 81, focusing on AI, 5G, operational technology (OT) cybersecurity, threat response, and security testing. This initiative aims to bolster cyber defence across enterprise IT, 5G, and OT/IoT systems, addressing advanced threats.

Building on ST Engineering’s expertise in Security Operations Centres (SOCs), the CoE will advance agentic AI applications in next-generation SOCs, digital forensics, and incident response. These autonomous solutions promise broader coverage and independent decision-making, positioning ST Engineering at the forefront of cybersecurity innovation.

Goh Eng Choon, President of Cyber at ST Engineering, stated, “With AI and quantum computing, cyber threats are evolving faster and becoming more sophisticated. The Cybersecurity Centre of Excellence will bring together talent, research and advanced AI to strengthen our capabilities to develop cyber defences that are smarter, faster and more adaptive to new threats.”

The CoE will also nurture future cybersecurity talent through labs and training programmes at institutions such as Republic Polytechnic and Singapore Polytechnic. This initiative will prepare students to thrive in AI-assisted cybersecurity environments.

Philbert Gomez, Executive Director & Head of Digital Industry Singapore, remarked, “The CoE will be a vital hub for developing autonomous AI solutions that will directly empower cybersecurity practitioners and enhance our capability to detect and combat sophisticated cyber threats at scale.”

Artificial intelligence (AI) is transforming how Singaporeans shop, especially as the holiday season approaches, according to a recent survey by Riskified, a leader in ecommerce fraud prevention. The survey found that 46% of Singaporean shoppers use AI to discover products or summarise reviews, whilst 42% use it to compare prices. However, only 10% are comfortable allowing AI to make purchases directly, indicating a significant trust barrier.

The survey highlights that payment security and privacy are the primary concerns for 32% and 21% of shoppers, respectively. Despite these concerns, 53% of respondents are likely to use AI for gift shopping, and 64% are comfortable with AI checking order statuses. However, for more complex tasks like returns and billing disputes, human intervention is still preferred.

As AI adoption increases, merchants face both opportunities and challenges. The rise of agentic commerce—where AI assists in shopping—presents risks such as payment fraud and policy abuse. Jeff Otto, Chief Marketing Officer at Riskified, noted, “AI shopping agents may make buying easier for consumers, but they also blur the lines of accountability for fraud and policy abuse.”

The findings suggest that Singapore’s cautious yet early adoption of AI could lead to the first AI-assisted holiday shopping season. Merchants are encouraged to educate their leadership on these new risks and advocate for data transparency to manage the evolving landscape effectively. As AI continues to influence consumer behaviour, businesses must adapt to ensure both growth and security in this new era of shopping.

GasHubUnited Utility, Singapore’s leading liquefied natural gas (LNG) distributor, has unveiled the “Switch Campaign,” a nationwide initiative encouraging businesses to adopt LNG as a cleaner and more sustainable energy source. This campaign supports the Singapore Green Plan 2030 and the nation’s goal of achieving net-zero emissions by 2050.

LNG is highlighted as a superior alternative to diesel, producing up to 30% fewer carbon dioxide emissions, 75% fewer nitrogen oxides, and zero sulphur dioxide emissions. This makes it one of the cleanest fossil fuels available. GasHub’s CEO, Bentinck Ng, stated, “Our goal is to help companies not only meet regulatory compliance but to thrive in a future powered by cleaner, smarter energy.”

The campaign offers several benefits for businesses, including significant cost savings due to lower maintenance costs and greater price stability. Additionally, LNG’s enhanced energy efficiency extends equipment life and reduces operational wear and tear. Companies can also access grants and green financing to support their transition to LNG.

GasHub provides a comprehensive suite of support through the Switch Campaign, including free consultations, energy audits, funding insights, and ongoing energy management. Early adopters have reported improved operational stability and quicker compliance with green certifications. Kelvin Khor, Director of KMS Industrial, remarked on the ease of transitioning to LNG with GasHub’s guidance.

Industries such as manufacturing, logistics, hospitality, and utilities are encouraged to participate in this energy transformation, aligning with global partners for a sustainable economy.

Real estate investment sales in Singapore surged by 96% quarter-on-quarter (QoQ) in the third quarter of 2025, reaching $8.09b (S$11.09b), according to Savills’ latest report. This significant increase reversed the previous downward trend, with cumulative sales for the first nine months hitting $16.57b (S$22.72b), marking a 17.9% rise compared to the same period in 2024.

The residential sector dominated the market, accounting for 45.1% of total investment sales, with a remarkable 148.8% increase QoQ to nearly $3.65b (S$5b). This growth was driven by both public and private sector transactions, which rose by 189.1% and 105.8%, respectively. The Government Land Sales programme contributed significantly, with state land parcels generating nearly $3.03b (S$4.15b).

Commercial sector sales also saw a sharp increase, totalling $1.84b (S$2.52b), up from $311.5m (S$426.9m) in Q2. This growth was fuelled by major transactions, including CapitaLand Integrated Commercial Trust’s acquisition of a 55% interest in CapitaSpring for $762.5m (S$1.045b).

Jeremy Lake, Managing Director of Investment Sales and Capital Markets at Savills Singapore, noted, “Despite the sharp jump in headline investment sales to $8.09b (S$11.09b) in Q3, the actual number of private investment sales excluding related party transactions and REIT IPO deals remains disappointingly low.”

Looking ahead, Savills has revised its 2025 forecast from $14.61b (S$20b) to a range of $20.45b to $21.89b (S$28b to S$30b), reflecting the favourable capital market conditions and increased developer confidence.

Selgate Corporation has inaugurated its first flagship private healthcare facility, Selgate Specialist Hospital Rawang, in the Central Region of Selangor. The hospital, which opened on 21 October 2025, is part of Selgate’s vision to provide high-quality, compassionate healthcare to local communities. The opening day featured free health screenings and a cupcake giveaway to celebrate the milestone.

Located strategically in Rawang, the 224-bed hospital offers a wide range of medical and surgical specialities, including orthopaedics, cardiology, and advanced diagnostic services. The facility is designed to bridge the gap between tertiary hospitals and local clinics, providing personalised care with a focus on community well-being. “The opening of Selgate Specialist Hospital Rawang marks more than just a milestone — it represents our commitment to redefining how healthcare is experienced in Malaysia,” said Miranda Harumal, CEO of Selgate Group of Hospitals.

The hospital is part of Selgate’s broader plan to expand its healthcare network, with additional facilities in Sepang and Setia Alam set to open in 2026. Selgate’s digital innovation, particularly through the Selangkah app, enhances patient experience by integrating digital services from registration to billing. The hospital also engages with the community through initiatives like sponsoring the upcoming Rawang Marathon.

Selgate Specialist Hospital Rawang is expected to set a benchmark for future facilities, aiming to deliver accessible and compassionate healthcare across Selangor.

Asia Pacific cities have demonstrated remarkable resilience in Kearney’s 2025 Global Cities Report, maintaining strong positions on the Global Cities Index (GCI) amidst global volatility. Tokyo, Singapore, Beijing, Hong Kong, and Shanghai remain in the top 10, showcasing their adaptability in digital infrastructure and institutional agility.

Tokyo held its fourth-place position for the eleventh year, excelling in human capital and cultural experience. Singapore secured the fifth spot, reflecting gains in political engagement and human capital, despite slight declines in cultural experience and business activity. Hong Kong rose to seventh place, driven by an increase in international travellers and cultural offerings.

The Global Cities Index evaluates cities across five dimensions: business activity, human capital, information exchange, cultural experience, and political engagement. This year, the Index highlighted the enduring relevance of Asian hubs, with Shigeru Sekinada, Kearney’s Region Chair of Asia Pacific, noting their ability to navigate global dynamics through digital infrastructure and climate resilience.

The Global Cities Outlook (GCO), which assesses future potential, saw significant shifts. Singapore leapt from 20th to third place, driven by infrastructure, GDP per capita, and foreign investment. Seoul climbed to second place, bolstered by innovation and governance improvements.

Emerging hubs like Taipei and Jakarta are also gaining momentum, indicating a redistribution of global opportunity. Kearney’s report concludes that cities’ long-term competitiveness will depend on expanding energy capacity, embedding resilience, and developing AI-ready talent, positioning them to shape the next era of global leadership.