Citizens Financial News

Singapore’s declining birth rate and its aging population require a sustained yet well calibrated influx of migrant workers, according to Deputy Prime Minister Lawrence Wong. “If we are not able to bring in immigrants to top up the population then we are in structural decline, and eventually the population will decline, the workforce will decline and Singapore will decline,” Wong said at the Reinventing Destiny conference in Singapore on Monday. At the same time, Wong said Singapore is controlling the number of immigrants who will be allowed to work and that the number isn’t limitless nor excessive. “At the end of the day, the numbers are constrained by how much we are able to integrate the new arrivals” and how the migrants “embrace our values and way of life.” As a small, open economy, Singapore relies on foreign workers to help meet its labor needs. Yet immigration rules have tightened in recent years as the government needs to strike a balance between protecting local jobs as well as ensuring that it has enough resources to meet the demands of an increasing migrant population amid slowing economic growth. “We will not have the ability to integrate all of them into our society,” he said. “A small proportion will come in as permanent residents and it’s gated, it’s regulated. And we want to make sure that those who come in as permanent residents and eventually citizens are the ones who have the best chance to integrate into our society.”

It’s been called the cradle of liberty, throws great parties (tea) and is the state with the nation’s third highest median income (if you include D.C.).

Pakistan President Arif Alvi on Monday appealed to political leaders to shun their differences and antagonism as the cash-strapped country celebrated its 76th Independence Day. Addressing a flag hoisting ceremony held at the Convention Centre here, the president also expressed his gratitude to friendly countries like China, Saudi Arabia, the United Arab Emirates, Iran and Turkiye for supporting Pakistan during its economic woes. He expressed confidence that Pakistan could become a developed country in a few years.

Poland has detained two Russian citizens who were «distributing propaganda materials of the Wagner Group» in Warsaw and Krakow, the two biggest Polish cities, the interior minister said Monday. «Both were charged with… espionage and arrested,» Mariusz Kaminski said on X, the former Twitter, without providing further details about the detained men.

Indian rupee on Monday opened below the 83-mark against the dollar, the lowest for the currency since October 2022 when it had dipped to a historical low of 83.26. After India became independent, one dollar could be bought at less than four rupees. As the country marks 76 years of freedom, the rupee has gone down by nearly 20 times.

landslide in the rain-affected Summer Hill area of Shimla to assess the situation. All schools and colleges in the state were closed on Monday. 1) The river is flowing at a high volume along the road leading to Prashar Lake in the Mandi district of Himachal Pradesh.

Prime Minister Narendra Modi's claim of India beco... morePrime Minister Narendra Modi's claim of India becoming a top-three economy is likely due to population and economic growth, rather than his term.

Amrit Mahotsav with higher interest rates compared to standard FDs. Some of these special bank FDs ended and few will end on August 15, 2023.State Bank of India and IDBI Bank’s special fixed deposits dubbed Amrit Kalash and Amrit Mahotsav FD, respectively, will end on August 15, 2023.SBI Amrit Kalash The bank offers «AMRIT KALASH» retail term deposit scheme at a rate of 7.10% pa for regular citizen. The tenure of the deposit is 400 days.

Rahul Gandhi, is now venting its anger on the public. Randeep Surjewala said - "The people of the country who voted for BJP are 'monsters', Khangrace should understand that it is the right of a citizen to vote or support any party.

While SCSS is undoubtedly one of the safest investment avenues for senior citizens, those who want to take some risks may explore mutual fund investments for higher returns. However, any such step should be taken only after consulting a professional financial advisor.

The recent decision of the Reserve Bank of India to keep the repo rate unchanged has allowed more time for senior citizens and other bank customers to book fixed deposits at higher rates. At present, several banks are providing over 9% interest on FD to senior citizens as well as general customers (see below).

The Reserve Bank of India has kept the repo rate unchanged for the third time in a row to ensure borrowing costs do not go overboard and economic growth also continues without any disruptions. However, there is no guarantee how long the rate will remain unchanged. Borrowers and investors seem to be cautious about it.

Many people in their early to mid-20s hesitate to buy life insurance as they believe that they do not need insurance at this stage of life. They feel that they can defer this investment to a later date, when they get married or have additional responsibilities like kids or retired parents. 

Pakistan has suspended import of Russian oil after two consignments on the grounds of “quality of crude”. The Pakistan government has blamed the quality of Russian crude for its decision even as Russian oil continues to top Indian energy imports. Refineries in Pakistan have refused to process Russian oil, as less petrol was being produced from it with 20 per cent more furnace oil compared to the Arabian crude, ET has learnt.

Canada's central bank has spent the last few years carrying out research into a digital loonie and what design features would be relevant to citizens with diverse payment needs and circumstances.But in a new paper, bank staffers note that most Canadians do not experience gaps in their access to a range of payment methods, and this would probably continue to be the case in a cashless environment.Nearly all - 98% - of Canadian adults have a bank account, while 87% have a credit card and internet access is high.The paper notes that this still leaves some people that could face difficulties making payments if merchants no longer generally accepted cash as a method of payment.However, for a payment-oriented CBDC to successfully address this issue, it would have to see widespread adoption among the majority of people who would not need it.

Russian experts say they think that the government will use the digital ruble to pay state benefits – and think the CBDC could be used to evade sanctions.

terrorists were killed by Pakistani security forces on Sunday when they attacked a military convoy carrying Chinese workers in the port city of Gwadar in the restive Balochistan province, officials said. Gwadar is one of the focal points of the multi-billion China-Pakistan Economic Corridor with many Chinese workers working at the port.

Bharatiya Janata Party including various chief ministers of the BJP-ruled states have lost their golden tick on social media 'X', formerly known as Twitter, after changing its display picture to the tricolour as part of the 'Har Ghar Tiranga campaign.' The campaign launched by Prime Minister Narendra Modi ahead of India's 77th Independence Day encourages citizens to display the Indian flag on their social media profiles. The leaders complied with the request and changed its profile picture to the tricolour. The leaders who lost their golden tick on 'X' include Haryana Chief Minister Manohar Lal Khattar, Goa CM Dr Pramod Sawant, Madhya Pradesh CM Shivraj Singh Chouhan, Uttarakhand CM Pushkar Singh Dhami.BJP national spokesperson Sambit Patra has also lost the golden tick on the social media platform. The social media platform has a policy that requires verified accounts to use their real names and display pictures.

barf ka gola (snow cones). Though currency was used at the time, the ancient barter system dominated. When I told this story to my village’s third-generation youngsters, they laughed in disbelief.

Narendra Modi has reiterated that India has a strict policy of zero tolerance against corruption. Singh also called for wider cooperation between the two countries in sharing Information and communication technology (ICT) innovations, promoting cross-sector cooperation, and forging partnerships to prevent and combat corruption. Tugendhat renewed the UK’s offer that India, being a signatory to the United Nations Convention Against Corruption (UNCAC), also implement Article 16 of UNCAC that deals with bribery of foreign public officials (foreign bribery).

Congress leader Priyanka Gandhi may contest the upcoming Lok Sabha elections. Robert Vadra sparked buzz on Sunday after asserting that his wife would be ‘very good in Parliament’. The remarks come mere weeks after reports quoting party sources suggested that Gandhi may be sent to the Rajya Sabha in the coming months.