Regional News

Standard Chartered has announced the appointment of Yusuf Demiral as the Global Head of Data, Analytics & AI for its Wealth and Retail Banking division. Starting on 7 July, Demiral will be based in Hong Kong, reporting to Samir Subberwal, Global Head of Wealth Solutions, Deposits and Mortgages, and Chief Client Officer. This newly created role will see Demiral spearheading the bank’s strategy across the entire client journey, working closely with marketing, digital sales, and client experience teams.

Demiral brings over 25 years of banking experience, having previously served as the Group Head of Data Analytics and Customer Relationship Management (CRM) for Wealth and Personal Banking at HSBC. There, he led a global team of over 1,000 professionals across more than 20 markets, focusing on data platforms, advanced analytics, and CRM capabilities.

Samir Subberwal expressed enthusiasm about Demiral’s appointment, stating, “I am delighted to welcome Yusuf to Standard Chartered. As we continue to deliver innovative, digital-first personalised experiences for our clients, Yusuf will play a critical role in strengthening the use of data, analytics and AI capabilities to enhance the client journey.”

The appointment underscores Standard Chartered’s commitment to leveraging data and technology to deepen client relationships and meet evolving client needs. As the bank continues to innovate, Demiral’s expertise is expected to be pivotal in advancing its capabilities in data-driven client engagement.
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A recent survey by International Workplace Group (IWG) indicates that nine in 10 CEOs and CFOs are increasingly adopting hybrid working models to tackle macroeconomic instability. The study, which surveyed over 1,000 global executives, highlights that 86% are taking proactive financial measures, with hybrid work being a key strategy to reduce costs and enhance business resilience.

The survey found that 83% of business leaders believe hybrid working is crucial for cost savings, with 77% already experiencing reductions in overheads such as office space and utilities. This shift allows companies to redirect resources towards growth and manage economic uncertainties more effectively. In Singapore, where small and medium-sized enterprises (SMEs) form the backbone of the economy, businesses are also leveraging hybrid work to navigate rising operational costs and talent shortages.

Hybrid work is not only a financial strategy but also a means to improve employee satisfaction and productivity. According to the survey, 88% of leaders report increased employee satisfaction, whilst 83% note measurable productivity gains. Mark Dixon, CEO and Founder of IWG, stated, “By empowering their teams to work closer to home in local workspaces and offices, companies operating in the hybrid model are able to significantly reduce their costs and improve the work-life balance of their people.”

As companies continue to face economic headwinds, hybrid working models are being recognised for their long-term strategic value, offering a sustainable approach to workforce management that extends beyond mere cost savings.
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ION Orchard is set to host its third annual ION & YOU campaign, running from 7 June to 31 July 2025, inviting food enthusiasts and environmentally conscious shoppers to experience a blend of refined dining and sustainable practices. This initiative aligns with the Go Green SG 2025 movement, led by the Ministry of Sustainability and the Environment, to encourage collective climate action.

The campaign features a range of curated gastronomic experiences, exclusive shopping rewards, and limited-time culinary creations. Shoppers can engage in ‘A Day Like No Other’, a gamified adventure available on the ION Orchard mobile app, offering up to $120 in bonus rebates and exclusive in-store offers on 6 June.

ION Orchard CEO Yeo Mui Hong emphasised the campaign’s focus on making sustainability both desirable and attainable, stating, “Through ION & YOU, we aim to make sustainability both desirable and attainable, elevating everyday choices into meaningful acts of care for ourselves and the world we live in.”

As part of its commitment to sustainability, ION Orchard will also participate in Go Green SG 2025, offering workshops and sustainable practices until 29 June. Additionally, the mall will serve as the Official Luxury Mall Partner for the World Aquatics Championships in July, enhancing its international appeal.

New dining and lifestyle brands, including LÄDERACH, Stryv, Super Sushi, Twyst, and Violet Oon, will debut at ION Orchard, offering fresh experiences for visitors. The campaign underscores ION Orchard’s dedication to merging luxury with responsibility, promising a memorable experience for all attendees.
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Osome, a leading platform for business incorporation and finance management, has announced new product enhancements and strategic ecosystem partnerships aimed at helping entrepreneurs streamline their operations and scale effectively. The updates include a redesigned mobile experience with improved navigation, document upload processes, and real-time visibility across bookkeeping, tax, and corporate secretarial milestones.

The enhancements are designed to provide entrepreneurs with AI-enabled solutions that are simple, fast, and clear, according to Tamas Gögge, Chief Product Officer at Osome. “What truly sets us apart is our combination of intuitive interfaces and the peace of mind that comes from having access to experienced experts for complex business questions,” he stated.

Key updates include intelligent workflows that automate routine bookkeeping tasks, real-time business health metrics, and compliance updates to help businesses stay ahead of statutory deadlines. Additionally, Osome is expanding its partnerships with fintech leaders such as Airwallex and Tenity. These collaborations aim to provide seamless access to banking systems, automated cross-border workflows, and smart financial tools.

Osome has supported over 30,000 companies and processed more than 1 million bookkeeping transactions, valued at over $5.6b. The company will showcase its latest product roadmap and ecosystem initiatives at Echelon Singapore 2025, participating in panel sessions and discussions on AI and product strategy.

Vladimir Sitnikov, CEO of Agen, a health-tech startup, praised Osome for allowing his company to focus more on product and customer needs. Meanwhile, Gladys Yuen from Airwallex and Jonas Thuerig from Tenity highlighted the importance of their partnerships with Osome in simplifying global finance and accelerating fintech innovation, respectively.

Osome’s latest initiatives underscore its commitment to empowering entrepreneurs with the tools and partnerships necessary for sustainable growth.
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Palo Alto Networks has released its Unit 42 Extortion and Ransomware Trends report for January to March 2025, highlighting the evolution of threat actors’ tactics. The report reveals that cybercriminals are increasingly using aggressive methods, including collaboration with state-backed groups, to pressure victims into higher payouts. This trend underscores the urgent need for organisations to adopt a defence-in-depth strategy to counter these sophisticated attacks.

In Singapore, ransomware threats are evolving rapidly, with attackers employing increasingly deceptive tactics. Steven Scheurmann, Regional Vice President for ASEAN at Palo Alto Networks, emphasised the importance of a robust defence strategy, stating, “To stay ahead of these sophisticated threats, organisations must employ a defence-in-depth strategy and be prepared to encounter additional forms of pressure from these ransomware actors.”

The report identifies manufacturing as the primary target for ransomware attacks, followed by wholesale and retail, and professional and legal services. Notably, RansomHub has emerged as the leading ransomware variant, marking a significant rise since its first appearance in mid-2024. Additionally, the report highlights the rise of AI-generated insider threat extortion, with North Korean operatives using AI-generated identities to pose as remote IT workers, stealing proprietary code and threatening public leaks.

Philippa Cogswell, Vice President and Managing Partner of Unit 42, Asia-Pacific & Japan, stated, “We’re seeing a clear shift in how ransomware and extortion actors operate globally and across the Asia-Pacific and Japan region. Attackers are shifting from traditional encryption tactics to more aggressive and manipulative methods.”

The report also notes that attackers are increasingly targeting cloud systems and using “EDR killers” to disable endpoint security sensors. As cyber threats continue to escalate, organisations are urged to enhance their cybersecurity measures to protect against these evolving risks.
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Raffles Sentosa Singapore has swiftly garnered global recognition, securing two prestigious international accolades just three months after its grand opening. The resort has been named to the Prix Versailles 2025 “World’s Most Beautiful Hotels” list, a testament to its exceptional architecture and design. This accolade, overseen by UNESCO and the International Union of Architects, highlights achievements that enhance the living environment through visionary design and cultural relevance.

Cavaliere Giovanni Viterale, Cluster General Manager of Raffles Sentosa Singapore and Sofitel Singapore Sentosa Resort & Spa, expressed pride in the recognition, stating, “To be recognised on a global stage just three months after opening is a tremendous honour. These accolades reflect the vision, creativity and dedication of everyone who brought this resort to life.”

Additionally, the resort has been named the “Most Anticipated Hotel of 2025” by Putike, a leading travel and hospitality media platform in China. This award acknowledges the resort’s innovative approach, design, and guest experience, setting new benchmarks in luxury hospitality.

As Singapore’s first and only all-villa resort, Raffles Sentosa Singapore offers a unique Raffles experience, characterised by space, nature, and quiet luxury. Nestled within 100,000 square metres of tropical greenery, the resort features 62 private villas, each with its own pool and garden views, providing a serene sanctuary just minutes from the city.

These accolades not only highlight the resort’s architectural and design excellence but also reinforce its position as a leading luxury destination in Singapore.
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Iceland, Singapore, and Denmark have been named the safest countries to travel to in 2025, according to a new index released by HelloSafe. The index, which evaluates countries based on 35 objective indicators, places Iceland at the top with a score of 18.2, followed closely by Singapore and Denmark with scores of 20 and 20.1, respectively.

The HelloSafe Index provides a comprehensive assessment of global safety, drawing data from reputable sources such as various United Nations agencies, the World Bank, and international research organisations. The criteria are grouped into five main categories, ensuring a thorough analysis of each country’s safety profile.

In Europe, Austria, Switzerland, and the Czech Republic also feature prominently, ranking as the fourth, fifth, and sixth safest countries, respectively. Conversely, the index identifies the Philippines, Colombia, and Mexico as the least safe countries for travellers in 2025.

The methodology behind the HelloSafe Index involves an in-depth analysis of data from official reference sources, including the United Nations Development Programme (UNDP), World Health Organisation (WHO), and United Nations Office on Drugs and Crime (UNODC), among others. This rigorous approach ensures that the index provides a reliable measure of safety for prospective travellers.

As travel safety remains a top priority for many, this index offers valuable insights for those planning their next international journey. With Iceland, Singapore, and Denmark leading the way, travellers can make informed decisions about their destinations in the coming year.
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FairPrice Group has announced its ambitious ‘Store of Tomorrow’ programme, aiming to transform retail experiences by integrating cutting-edge technologies such as generative artificial intelligence, advanced data analytics, and biometric recognition into its stores. Over the next three years, the group plans to trial more than 20 new digital solutions annually, enhancing shopping experiences for its customers in Singapore.

The initiative will be rolled out across FairPrice’s 164 supermarkets and eventually extend to the group’s wider network of over 570 touchpoints. Currently, over 1.65 million customers use the FairPrice Group App across its various platforms, including Cheers, Unity, and Kopitiam.

Among the innovations being piloted are Smart Carts, which are already in use at FairPrice Finest Sengkang Grand Mall and will soon be available at the Punggol Digital District outlet. These carts feature built-in displays for in-store navigation, product recommendations, and a scan-and-go function. Vision AI, another technology being tested, uses existing CCTV infrastructure to provide real-time updates to staff, improving queue management and store safety.

The Grocer Genie, an AI-enabled staff portal, simplifies store operations by integrating with Vision AI to manage tasks such as queue monitoring and spill clean-ups. Additionally, FairPrice is working on integrating its app with Myinfo data to automate discount applications for eligible customers, streamlining the checkout process.

Biometric payment options and the Endless Aisle concept, which connects physical and digital shopping experiences, are also part of the programme. These initiatives promise to offer greater convenience and a more personalised shopping experience for customers. The Store of Tomorrow programme is set to redefine retail by leveraging technology to meet evolving consumer needs.
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Truely, a travel tech company specialising in eSIM connectivity, has announced a successful $2m funding round, bringing its total capital raised to $5.5m. The funding, led by DG Daiwa Ventures, Goodwater Capital, and Disrupt.com, aims to accelerate Truely’s expansion and enhance its offerings for frequent travellers and business users.

Truely’s innovative Switchless™ eSIM technology provides unlimited global data without roaming fees or SIM swaps, making it an attractive solution for travellers. The company has seen significant growth since launching Truely 2.0 in May 2025, driven by its seamless connectivity options. The new funding will enable Truely to scale its network, introduce localised pricing, and develop new tools for team and business travel.

The eSIM market is projected to reach over $3b by 2025, with nearly 50% annual growth, according to Kaleido Intelligence. This growth is fuelled by the shift from physical SIMs and increased eSIM adoption. Truely is poised to capitalise on this trend, with plans to expand its presence through strategic partnerships with online travel agencies, airlines, and fintech super-apps.

Simon Landsheer, Truely’s CEO, expressed enthusiasm about the funding, stating, “I’m happy to announce this round and honoured to have the trust of these investors as we continue building Truely.” DG Daiwa Ventures highlighted the potential for Truely to address connectivity challenges and expand in the Japanese market.

With this new investment, Truely is set to enhance its offerings and continue its mission to redefine global connectivity for travellers.
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Luxury home sales in Singapore’s Core Central Region (CCR) have seen a significant rise in the first quarter of 2025, according to a new report by OrangeTee. Transactions for properties exceeding $5m increased by 43%, from 100 units in Q4 2024 to 143 units in Q1 2025, marking the highest number of such sales since Q4 2023.

The report highlights a substantial increase in the total transaction value of private homes in the CCR, which rose by 44.6% from S$950 million in Q4 2024 to $1.37b in Q1 2025. This surge is attributed to a renewed interest in both landed and non-landed luxury properties.

Super luxury flats, priced over $10m, also experienced a notable uptick. Seventeen units were sold in Q1 2025, matching the previous high recorded in Q2 2023. Amongst these, a standout transaction was a 5,899 sqft unit at Park Nova, sold for $38.888m, making it the second-highest price per square foot ever recorded.

However, the demand for Good Class Bungalows saw a decline, with only two transactions in Q1 2025 compared to 12 in Q3 2024. Despite this, the luxury market is expected to remain robust, supported by Singapore’s stable economy and political environment, which continue to attract high-net-worth individuals seeking valuable assets.
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