Category: Life & Style

Singapore and Zurich surpassed New York to become the world’s most expensive cities to live in this year, according to the latest report from the Economist Intelligence Unit. This marks the ninth time in the last 11 years that Singapore has claimed the top spot, while Zurich has made a remarkable leap from sixth place last year to jointly hold the first position.

The sky-high cost of car ownership, pricey alcohol and rising grocery prices saw Singapore pull ahead of the US city, with which it shared the top spot last year. Zurich’s ascent can be attributed to the strength of the Swiss franc and elevated costs in categories such as groceries, household goods, and recreation.

Despite tying with Singapore for the first position last year, New York slipped to third place this year, sharing the spot with Geneva. The study indicates a 1.9% increase in prices in the popular U.S. destination. The Economist Intelligence Unit highlighted that many cities globally are grappling with rising prices due to high inflation, with a 7.4% year-on-year increase in local currency terms for more than 200 commonly used goods and services. Although this figure is slightly lower than the previous year, it remains higher than the trend observed from 2017 to 2021.

Asia experiences relatively lower inflation, explaining why only two Asian cities secured positions in the top 10. Hong Kong, the only other Asian destination in the top 10, was fifth, while Los Angeles was at No. 6.

Paris claimed the seventh spot, Tel Aviv and Copenhagen tied for eighth, and San Francisco rounded out the top 10. Notably, the survey was conducted before the October outbreak of the Israel-Hamas conflict.

In a remarkable feat, Norse Atlantic Airways has achieved the historic landing of a Boeing 787 Dreamliner, named Everglades, on Antarctica’s Blue Ice Runway.

The Boeing 787 launched on a ‘blue ice runway,’ measuring 3,000 meters (9840 feet) in length and 60 meters (100 feet) in width, sculpted from the snow and ice.

Conducted by Norse Atlantic Airways, the flight, named Everglades, successfully landed at the Troll Airfield in Antarctica on Nov 15. This is the first time a Dreamliner, a widebody aircraft which can carry up to 330 passengers, has made it to the sixth continent.

Flight No787 did not follow a regular passenger route, carrying a crew of 45 individuals, including scientists from the Norwegian Polar Institute. The contracted flight destined for the Troll research station in Queen Maud Land, Antarctica, also carried 12 tonnes of equipment for the research stations at the destination base.

Departing from Oslo on November 13, with a layover in Cape Town, the flight then headed southwards to Antarctica, concluding with the celebrated landing on Wednesday, November 15. This historic achievement also marks the Boeing 787’s successful operation of flights to every continent globally. The aircraft made it to Antarctica and back to Cape Town without refuelling.

In response to this achievement, Norse Atlantic Airways expressed their excitement on social media, stating, “A historic moment for Norse! The first ever @BoeingAirplanes B787 Dreamliner to land in Antarctica! We are incredibly honoured to be a part of this piece of history, marking a very special milestone for Norse.”

Elon Musk’s electric car giant, Tesla’s most affordable model will make its global debut in Germany. As per a report, the same electric car will also be launched in India subsequently, marking the nation as the first non-European destination for this highly anticipated 2-door model.

The Model Y, built on the Model 3 sedan platform, is a battery-electric mid-size crossover SUV manufactured by Tesla Inc. since 2020. Positioned as a more compact and economically accessible alternative to the mid-sized Model X, the Model Y also provides an optional seven-passenger seating capacity with the inclusion of third-row seats.

Union Commerce Minister Piyush Goyal had earlier disclosed that Tesla is planning to double the number of components it imports from India. In September, Mr. Goyal stated that Tesla aimed to source components worth between $1.7 billion and $1.9 billion from India in 2023, as the firm bought $1 billion of components in 2022.

Simultaneously, India is on the brink of finalising a deal with Tesla that would enable the American automaker to import its vehicles into the country starting next year. The company would also establish a manufacturing plant within two years. Union Commerce Minister Piyush Goyal, after visiting one of Tesla’s facilities, expressed his pride in India’s growing significance in the Tesla EV supply chain. He posted on social media, “Proud to see the growing importance of Auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India.”

State Bank of India is set to launch its Yono Global application in Singapore and the US to offer digital remittance and other services to its customers. Vidya Krishnan, Deputy Managing Director of SBI, announced at the three-day Singapore Fintech Festival (SFF), “We are continuing to invest in Yono Global to offer the best services available as we want to give a superior experience to our customers.”

Krishnan engaged in discussions with Singapore-based digital platform enablers as well as the local regulator and central bank, the Monetary Authority of Singapore (MAS). Acknowledging the significance of Yono’s potential impact on Singapore, she said, “We are constantly working on the remittance story between India and Singapore, given the large number of Indian diaspora in the city-state.”

Currently, SBI offers Yono Global services in nine countries, commencing with UK operations in September 2019. SBI’s foreign operations have a total balance sheet size of USD 78 billion, positioning itself to offer cutting-edge digital financial solutions globally.

In Singapore, SBI is actively integrating the Yono Global app with PayNow and plans to launch the integrated service soon. This aligns with SBI’s dedication to staying at the forefront of technological advancements in the financial sector. Lately, the Indian banking ecosystem has been actively participating in global transaction processes. In September, it announced the integration of the unified payments interface (UPI) with its digital rupee (e₹), or Central Bank Digital Currency (CBDC) app to enhance user convenience.

The Goal Zero Consortium has launched Singapore’s first fully electric cargo vessel, the Hydromover.

The lightweight, 18.5m vessel is equipped with swappable batteries, allowing it to transport up to 25 tonnes of cargo. The all-electric vessel has zero emissions and targets to achieve up to 50% operational cost savings due to improved energy efficiency and lower maintenance costs. Its battery, when depleted, can be swapped within minutes to minimize operational downtime.

Singapore has played a pivotal role in advertising sustainable shipping practices, contributing $9 million in funding in 2021 to Goal Zero and two other consortiums led by Keppel Fels and Sembcorp Marine. Keppel aims to establish an electric vessel supply chain by 2025, while Seatrium has not revealed a completion target. “We are seeing a dramatic electrification of all modes of transport, so we started by focusing on the electrification of the marine area,” said Mr Barclay, who headed Yinson Holdings’ offshore production business before becoming YGT CEO in January.

Eng Dih Teo, CEO of the Maritime and Port Authority (MPA) of Singapore, launched this groundbreaking milestone, underlining that more electric vessels are expected to navigate Singapore’s waters in the coming months. The Maritime and Port Authority of Singapore (MPA) has mandated that by 2030, all new harbour craft in Singapore waters have to operate on low-carbon energy solutions and reduce emissions by 15% from 2021 levels. Looking further ahead, the ambitious goal is for all harbor craft to be fully electric or utilize net-zero fuels by 2050.

In a significant move to foster international tourism, Malaysia has officially lifted entry visa requirements for citizens of India and China. Prime Minister Anwar Ibrahim made the groundbreaking announcement during his closing speech at the annual congress of the People’s Justice Party in Putrajaya on November 26.

Starting from December 1, travellers from India and China can enjoy a 30-day visa exemption, a significant policy change in Malaysia’s approach to global tourism. While the visa requirement has been removed, the Malaysian government emphasizes that the issuance of visas will still be contingent upon security screening. This strategic move recognises the importance of Chinese and Indian tourists, who rank as Malaysia’s fourth and fifth-largest sources of tourist arrivals, respectively.

Between January and June of this year, Malaysia recorded 9.16 million tourist arrivals, with India contributing 283,885 during the same period. This policy shift solidifies Malaysia’s position as a welcoming destination, ready to embrace a diverse array of international visitors.

A bottle of The Macallan 1926 has set the record for the world’s most expensive whisky, having been sold at an auction in London for $2.7 million on November 18. One of the world’s most sought-after bottles of Scotch whisky was auctioned at a record-setting amount at Sotheby’s.

The rare 1926 Macallan single-malt whisky featured the label designed by Italian painter Valerio Adami. The bottle was initially expected to fetch between $934,275 and $1.49 million but ended up selling for more than double its estimated price. The sale set a new record for any bottle of spirit or wine sold at auction, according to a statement from Sotheby’s.

This is not the first time that a Macallan 1926 bottle has fetched a record-breaking amount at an auction. In 2019, another Macallan 1926 bottle went under the hammer for $1.86 million, setting the previous record for the most expensive bottle ever sold.

The whisky is said to have spent around six decades maturing in dark oak sherry casks before becoming one of just 40 bottles bottled in 1986. However, not all the bottles were for sale, as some were offered to The Macallan’s top clients.

Troops of Indian Armed Forces and Australian forces began their joint military exercise AustraHind on November 22 at Perth in Australia. The Indian contingent of 81 personnel, including 60 from the Indian Army, 20 from Indian Air Force and 1 from Indian Navy reached Perth on November 22. The 14-day joint military exercise aims to foster collaborative partnership and share best practices between the two sides.

The Australian contingent includes 20 personnel each from the Royal Australian Navy and Royal Australian Air Force.

The AustraHind exercise was inaugurated in 2022, with its first edition held in Mahajan, Rajasthan. It is planned as an annual training event to be conducted alternately in India and Australia.

It aims to promote interoperability while undertaking multi-domain operations in urban and semi-urban terrains under Chapter VII of the United Nations Charter on peacekeeping operations. The joint exercise will facilitate the exchange of ideas and the joint rehearsal of tactics, techniques, and procedures for conducting tactical operations.

AustraHind’s training curriculum includes sniper firing and the joint operation of surveillance and communication equipment to achieve a high degree of situational awareness. In addition to tactical actions at the company or battalion level, the exercise also involves the rehearsal of casualty management and evacuation procedures.

Amazon India and Inland Waterways Authority of India (IWAI) have signed an agreement to allow the e-commerce company to use inland waterways for transporting customer packages. The company will work together with IWAI to build a network of inland waterways for cargo shipment. Amazon plans to launch a pilot route between Patna and Kolkata.

In a statement, Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways, which runs IWAI, said that the focus of the government is on increasing cargo movement through river systems, which is a more sustainable and economical mode of transport.

Amazon India called this initiative a reinforcement of its commitment to building capacity to meet the increasing customer demand. “The aim is to also collaborate with government authorities to explore mutually beneficial projects for the e-commerce industry,” it said.

Inland waterways transport would ensure quicker, sustainable and more reliable delivery of customer packages and widen the reach of sellers, said the e-commerce company. It seeks to harness the potential of the country’s rivers, canals, and other water bodies to enhance logistics and transportation efficiency for the Indian e-commerce industry at large.

A hat belonging to Napoleon Bonaparte sold for 1.932 million euros ($2.1 million) at French auction house Osenat in Fontainebleau, Paris on November 19.

The black felt bicorn is one of some 20 hats said to still exist of Napoleon’s two-cornered military dress hats that he wore as part of his everyday uniform when he was French emperor. It is in his trademark colours — black, with the French flag’s colours blue-white-red as insignia — and attracted interest from collectors “the world over”, said Osenat, declining to give the identity or nationality of the eventual buyer.

The final price for the hat was more than double the estimate of 600,000 to 800,000 euros, and about four times the reserve price. It broke the previous record for a Napoleonic hat, held by Osenat, of 1.884 million euros in 2014 shelled out by a South Korean businessman.

The hat was last owned by businessman Jean-Louis Noisiez, who died last year.

Other Napoleon memorabilia from the Noisiez collection were also auctioned, including a Legion of Honour medal and a pair of silver spurs. Napoleon is believed to have owned around 120 such hats in total over 15 years, most of which are now lost.