The moves by the US SEC against Binance, Coinbase spooked investment sentiment just as Hong Kong seeks to establish itself as a trading hub along with Singapore. Unlike Singapore and Hong Kong, the US does not have comprehensive regulations for crypto and blockchain firms to operate without fear of regulatory action.

Senior officials from about two dozen of the world's major intelligence agencies held a secret meeting on the fringes of the Shangri-La Dialogue security meeting in Singapore this weekend, five people told Reuters.

The manpower minister on Monday addressed opposition’s concern over the impact of new labour schemes on local residents. ‘Not a zero-sum world’, minister says, as attracting top talent to Singapore does not mean fewer opportunities for Singaporeans.

Singapore is bracing for a shortage of its de-facto national dish, chicken rice, as major supplier Malaysia halts all chicken exports from Wednesday.