Author: MIL-OSI Publisher

The card payment market in Singapore is expected to grow at a healthy compound annual growth rate (CAGR) of 7.2% between 2025 and 2029 to reach SGD209.2 billion ($156.6 billion) in 2029f. The growth will be driven primarily by credit and charge cards, supported by an almost fully banked population, robust payment acceptance infrastructure, and initiatives by financial authorities to promote cashless payments, reveals GlobalData, a leading data and analytics company.

GlobalData’s Payment Card Analytics reveals that payment cards value in Singapore registered a strong CAGR of 11.3% between 2021 and 2025e, reaching SGD158.2 billion ($118.4 billion) in 2025. On the other hand, total ATM cash withdrawals registered a low CAGR of 2.3% during the same period, due to the reduced usage of cards for withdrawals.

Kartik Challa, Senior Banking and Payments Analyst at GlobalData, comments: “Singapore’s payment card market is well developed, with the average individual holding nearly four cards and card payment frequency reaching 107.1 transactions per person in 2025e—among the highest in the Asia-Pacific region. Widespread adoption of contactless payments, a growing preference for electronic payments, and a burgeoning e‑commerce market are all contributing to this growth.”

While debit card penetration is high in Singapore, credit cards dominate the payment card market. This trend can be attributed to several key factors like promotional strategies, enticing benefits like cashback, rewards, and discounts that directly incentivize consumer spending. Furthermore, credit cards provide the convenience of interest-free installment plans, which allows consumers to finance high-value purchases.

Furthermore, the rise of e-commerce has also played a significant role, with credit cards being the preferred payment method for online shopping due to their widespread acceptance and the security features they provide.

A well-developed payment infrastructure, with strong POS terminal uptake, is also a major driver for the rise in card payments. The number of POS terminals per million inhabitants in Singapore stands at 62,551 in 2025e, which is higher compared to some of its peers such as New Zealand (43,768), Australia (40,055), China (36,578), Hong Kong (China SAR) (27,992), and Japan (21,966).

In addition to the traditional POS terminals, companies are offering POS solutions designed to target SMEs. For instance, Singapore-based payment solutions provider FOMO Pay collaborated with Mastercard to unveil a new payment solution called FOMO SoftPOS in November 2024. This solution enables merchants to process contactless card payments directly via smartphones.

The growing popularity of contactless payments is also driving overall card usage at point of sale. Supported by most banks and financial institutions, contactless payments have become prevalent and are widely accepted by retailers and across public transport networks.

To broaden the applications of contactless card payments, from May 2025 commuters were made to use American Express contactless cards to pay for bus and train rides, as well as retail purchases, with no additional fees. Cards can be added to mobile wallets without pre‑registration.

Challa concludes: “Singapore’s payment card market is poised for sustained growth over the next five years, supported by increasing consumer awareness of digital payments and advancements in payment infrastructure. The rise in e-commerce and contactless payments will also contribute to this growth.”

Notes

• Quotes provided by Kartik Challa, Senior Banking and Payments Analyst at GlobalData
• Information is based on GlobalData’s Payment Card Analytics

About GlobalData

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

27 October 2025 – Queensland climbs to second as South Australia, Northern Territory show strongest momentum.

SAN FRANCISCO (24 October 2025) – California Governor Gavin Newsom today exhorted news media to “put a bright light” on the current “abnormal” U.S. political and civic conditions, encouraging delegates to the INMA Media Tech & AI Conference in San Francisco to “meet this moment” and hold political leaders to account.

In an unscheduled appearance on stage at INMA’s San Francisco conference, Newsom decried conditions created by President Donald Trump that are marked by city militarisation, intimidation of diverse communities, and pressure on independent institutions.

Newsom, 58, is a Democrat and is considered to be the top prospect for his party’s presidential nomination in 2028. He has served as California governor since 2019.

While Newsom trained his assertions on the Trump Administration, he also alleged widespread complicity spanning law firms, universities, business leaders, and media figures. Regarding American democracy, he lamented: “I don’t think we will have one in a year or two if we do not reconcile our own complicity in this moment. Society becomes how we behave.”

He encouraged public vigilance and collective action across political affiliations to defend enduring national values.

“We have to meet this moment,” Newsom told INMA delegates. “I’m counting on you …”

With the United States approaching its 250th anniversary next year, Newsom assailed the threats against the Constitution: talks of a Trump third term, redistricting, immigration raids, sending the National Guard into cities, and the “greatest grift that’s ever happened in American history. ”

“So I’m grateful, thank you, that you’re all here because we need you,” Newsom said. “I don’t care where you are on the political spectrum. We need you. We the people.”

Newsom circled back on this theme: “We (are) counting on you. Hold us to account. And I think all of us need to raise our game at this precious moment.”

Bending into the theme of INMA’s Media Tech & AI Conference, he encouraged media companies to lean into influencers and streamers, communities that don’t get news from traditional sources.

Referencing the TwitchCon event in San Diego last week, Newsom engaged influencers about where they got their news. “These guys are wildly successful and influential. Not one person has ever checked cable, reading newspapers … a little alarming.” Instead, they engage with TikTok and all things peer-to-peer.

Citing his own social media memes mocking the Trump Administration, Newsom said he’s just now waking up to the creative possibilities: “I’m trying to put a bright light on Trump’s absurdity. Again, nothing’s normal about what’s going on.” A “little bit of humor” makes a powerful point, Newsom said.

More than 180 delegates from 26 countries attended INMA’s Media Tech & AI Week in San Francisco, featuring a conference and study tour.

Newsom was visiting the studios of public broadcaster KQED when INMA organisers approached him about doing a walk-on for conference delegates. INMA stopped sessions late Friday morning in the midst of a session about agentic AI to provide Newsom a five-minute forum for delegates. Conference delegates heartily applauded Newsom’s appearance.

About INMA

The International News Media Association (INMA) is the world’s premier community of news media companies committed to growing revenue, audience, and brand in a multiplatform environment. INMA connects more than 24,000 professionals at 1,000+ organizations across 105 countries through events, reports, Webinars, and a vast archive of best practices.

24 OCTOBER 2025 – Equinor has awarded new contracts for crew transportation services from Bergen to CHC Helikopter Service AS and Lufttransport RW AS.

The two companies will operate a total of five helicopters serving installations such as Troll, Gullfaks, Oseberg, Martin Linge, Statfjord, Kvitebjørn, and Valemon.

The contracts have an estimated total value of NOK 4.3 billion, including options, and will take effect in early May 2026. The fixed term runs until December 31, 2028, with the possibility of extension until the end of 2030.

”The safety of everyone traveling to and from offshore work is always our highest priority. CHC and Lufttransport are experienced operators we already work with, and they know the crew transportation service and safety requirements on the Norwegian continental shelf. With these contracts, Equinor’s helicopter base in Bergen will have a safe and robust solution,” says Ørjan Kvelvane, head of Operations Support at Equinor.

Ørjan Kvelvane, head of Operations Support at Equinor
Photo: Arne Reidar Mortensen / Equinor

CHC will operate three Sikorsky S-92 helicopters. Two of these are already under contract with Equinor and will be relocated from Sola to Bergen. The relocation is made possible by the introduction of AW189 helicopters at Sola. In addition, CHC will add one more S-92 helicopter — also currently flying on the Norwegian continental shelf — to the Bergen base.

Lufttransport will operate two AW139 helicopters. These will later be replaced by two AW189 helicopters, scheduled for factory delivery in 2027. Lufttransport is approved by the Civil Aviation Authority Norway to operate both helicopter types and has experience flying AW139 for Equinor as a passenger transport helicopter to Troll from Bergen in 2024.

”Together with the operators, we are now carrying out thorough preparations for a safe and efficient start-up. We have been in dialogue for some time, and they have been able to start early with planning and secure phasing-in. Both operators have already made good progress in hiring pilots and technicians with relevant experience. Training programs are approved by the Civil Aviation Authority Norway, and they have conducted flights to several installations, including with AW139. Work on training and phasing-in will continue going forward,” Kvelvane adds.

Equinor will conduct a series of verifications before the contracts commence. This includes checks of resources, facilities, approvals, manuals, personnel, helicopter equipment, HSE work, IT security, and physical security. These are standard procedures before the start of all Equinor’s helicopter contracts.

About Equinor’s helicopter traffic

Equinor and its operators transport approximately 320,000 passengers annually to and from installations on the Norwegian continental shelf.
This corresponds to more than 24,000 flight hours per year.
In 2024, Equinor carried out a total of 10,934 passenger flights from Stavanger, Bergen, Florø, Kristiansund, Brønnøysund, and Hammerfest.
The Bergen helicopter base at Flesland handles the highest traffic, with nearly 5,000 flights in 2024.
Since the Turøy accident in 2016, the Sikorsky S-92 has been the primary helicopter type in service for offshore passenger transport on the Norwegian shelf.

24 October 2025 – Southeast Asia: ASEAN Summit must address deteriorating crisis in Myanmar and ongoing scam compound activity

ASEAN member states must put human rights at the centre of regional discussions and decision-making, Amnesty International said as Southeast Asian leaders gather for the bloc’s 47th Summit in Malaysia this weekend.

“It is long past time for member states to act decisively to address the continually deteriorating crisis in Myanmar. Nearly five years since Myanmar’s military seized power, the situation in the country is an ever-worsening human rights nightmare,” said Montse Ferrer, Amnesty International’s Regional Research Director.

“People in Myanmar face multiple threats, including the armed conflict fueling internal displacement, and the junta’s ongoing campaign of repression, including unlawful air strikes on civilians. The military, and in some cases armed groups fighting against it, have carried out forced recruitment, arbitrary detention, torture and extrajudicial executions. Crumbling economic standards are also affecting rights to health, education and livelihoods.

“Though the vast majority of human rights violations are committed by the military, Amnesty International and others have also documented abuses by armed groups, such as the Arakan Army that has taken control of large parts of Rakhine State, leaving civilians, including Rakhine, Rohingya and other ethnic minorities trapped in a seemingly endless cycle of suffering.

“ASEAN’s approach to the situation in Myanmar has failed to prevent grave human rights violations let alone hold perpetrators accountable, with the humanitarian crisis in the country worse than ever, compounded by a devastating earthquake in March that killed thousands. ASEAN must urgently intensify efforts to exert maximum influence on the military and other armed groups to comply with international humanitarian law and free all arbitrarily detained prisoners.

“As the Myanmar junta prepares to hold elections, it is increasingly relying on repressive tactics and arresting anyone critical of the poll. ASEAN must take a clearer stand against these abuses or they will only increase. It must also revisit the failed five-point consensus that among other aims was intended to stop the violence in the country but has clearly fallen short.”

Amnesty International also remains deeply concerned about the ongoing scamming compound crisis in Southeast Asia – especially Cambodia, where thousands have been victims of human trafficking, forced labour and torture. Although organized criminal groups are running these compounds, the Cambodian state has failed to take adequate steps to stop the widespread human rights abuses despite being made aware of them for years.

“While ASEAN governments have previously acknowledged the seriousness of scamming compounds, they must put words into action by working to dismantle these criminal networks, protect victims, prosecute those responsible and ensure that host states like Cambodia take decisive action,” Montse Ferrer said.

In Indonesia and the Philippines, excessive use of force and arbitrary arrests by police to quell recent protests must also be effectively investigated.

“ASEAN governments should not rely on authoritarian tactics to silence dissent. They must instead respect the rights to freedom of expression and assembly, as well as international standards on the use of force.

“Failing to address serious human rights violations undermines regional stability and weakens ASEAN’s reputation. If it wishes to have any credibility on the international stage, ASEAN must put people before politics, take decisive action to address crises in the region and strengthen the regional bloc’s system of promotion and protection of human rights,” Montse Ferrer said.

Background

The ASEAN Summit is a semi-annual meeting of the leaders of the 10 member states of the Association of Southeast Asian Nations, to discuss issues of mutual interest.

The 47th ASEAN summit will take place in Kuala Lumpur, Malaysia from 26 to 28 of October. Timor-Leste will join as the 11th member state of ASEAN on 26 October.

Source: Government of the Solomon Islands

The Lau-Mbaelelea Constituency office, under the leadership of Honourable Ben Maenu’u, continues to support and implement transformative development initiatives within the constituency.

The latest achievement has resulted in more than 500 residents of the Goulu community in Ward 10 now having access to clean and reliable water right at their doorstep.

This development effectively ends years of hardship, during which villagers had to walk long distances into the bush to collect drinking water from nearby sources.

The community last had access to a functional water supply in the 1980s, funded by the Malaita Provincial Government. However, the water piping system did not extend fully to the community, it only reached halfway, requiring residents to walk a distance to fetch water.

Over time, the system broke down, forcing villagers once again to walk further through the bush tracks to access water from alternative sources.

With the new water supply now reaching the Goulu community doorstep, decades of difficulties in accessing clean and reliable water, dating back to the 1950s have come to an end.

This milestone marks the beginning of a new era for children, women, and girls, who previously had to walk considerable distance and often compromise their security and pose vulnerability to potential abuse and harassments by other people in the process of collecting water.

The project was completed on October 15, bringing significant relief to villagers, including Goulu Primary School.

The Constituency Office funded the project with $250,000 from its 2024 Constituency Development Funds (CDF) allocation, provided by the national government through the Ministry of Rural Development (MRD).

Speaking on behalf of the Goulu community, Chief Sammy Nokea expressed profound gratitude to the leadership of Honourable Ben Maenu’u, his constituency office, and the national government through MRD for recognizing one of their greatest and most urgent needs.

He said, “Since the 1950s, we have struggled for water. In the 1980s, piping stopped halfway, forcing us to walk long distances to fetch water. Honourable Maenu’u has fulfilled his promise by completing our water supply. He is a man of today.

“This project will benefit not only a few constituents but all constituents of Lau-Mbaelelea, regardless of political support. In the past, our prior parliamentary leaders promised to support our water project, but they did not keep or fulfill their promises. So, thank you, Hon. Ben, for your heart for us and for keeping your word,” Chief Nokea shared.

The residents could not hide their joy; they were thrilled just by turning on the taps outside their houses.

“No more long walks through the bush to collect water. This is a huge relief for our women, girls, and children. This water supply initiative saves time and reduces the burden, especially for our women, young girls, and children who are always responsible for collecting water,” one resident stated while expressing the community's relief.

Meanwhile, Constituency Development Officer (CDO) Moses Lugitau said the initiative is part of the Constituency Office’s Development Plan (CDP) and ongoing commitment to supporting community projects like water and sanitation, schools, churches, clinics, as well as other projects for families.

CDO Lugitau, on behalf of the constituency office, expressed profound gratitude to Honourable Maenu’u for his leadership, the Goulu community, constituents, and all stakeholders for their collaborative efforts in accomplishing the project.

He said this milestone marks a significant step forward for community development and improved livelihoods of the people.

Mr. Lugitau affirmed that it is the ongoing commitment of the constituency office under the leadership of Hon. Maenu’u to support initiatives that will benefit every constituent of Lau-Mbaelelea towards building a better future for everyone.

The project aligns well with the national government’s National Development Strategy 2016-2035 and fulfills Sustainable Development Goal (SDG) 6, which aims to ensure access to water and sanitation for all.

CDF is a national program of the Solomon Islands Government (SIG) administered by MRD and is implemented through the 50 constituencies in the country purposely to improve the social and economic livelihoods of all Solomon Islanders.

The Ministry of Rural Development’s vision is to ensure all Solomon Islanders are empowered for self-sufficiency, improved livelihoods, and sustainable development.

On 10 October 2025, S&P Global Ratings assigned the Republic of Moldova its first long- and short-term sovereign credit ratings of BB-/B, with a stable outlook and an expectation for growth acceleration and policy continuity. 

Geneva, Switzerland, 23 October 2025 – The Inter-Parliamentary Union (IPU) has concluded its 151st IPU Assembly, with nearly 1,150 delegates, including over 600 members of parliament, from 132 countries in attendance. Notably, women MPs comprised nearly 37% of the parliamentarians at the Assembly.

Meeting under the theme of parliamentary support for humanitarian action, the five-day Assembly took place in Geneva, the birthplace of the 1949 Geneva Conventions – the international framework that ensures legal protections for people during armed conflict.

Global legislators from around the world adopted the Geneva Declaration on Upholding humanitarian norms and supporting humanitarian action in times of crisis.

The Declaration comes against a backdrop of more than 130 ongoing conflicts around the world, leaving over 310 million people in need of humanitarian assistance, according to the International Committee of the Red Cross and the United Nations Office for the Coordination of Humanitarian Affairs.

The Declaration underlines that the Geneva Conventions, the Anti-Personnel Mine Ban Convention and other instruments of international humanitarian law (IHL), have saved millions of lives and limited the impact of armed conflicts on citizens when enforced and respected.

Parliamentarians are called upon to reinforce and champion humanitarian action by working to ratify IHL treaties, integrate them into national legislation, allocate financial resources to aid agencies, facilitate training of armed forces and foster partnerships across the global humanitarian ecosystem – including the International Red Cross and Red Crescent Movement and relevant UN agencies. Most importantly, parliamentarians are called upon to keep humanitarian considerations at the heart of the decisions they take, especially those related to security.

Other resolutions and outcomes

The Assembly also passed a resolution on Recognizing and supporting the victims of illegal international adoption and taking measures to prevent this practice.

The resolution strongly condemns illegal intercountry adoptions as violations of children’s rights and urges all States and parliaments to classify such acts as forms of human trafficking.

The IPU Assembly further passed an emergency item resolution on Parliamentary action against transnational organized crime, cybercrime and hybrid threats to democracy and human security – which aims to bolster the global parliamentary response to growing threats that challenge international peace, democratic governance and the rule of law.

Parliamentary diplomacy intensifies

Throughout the Assembly, IPU bodies dedicated to peace and security convened – including the Task Force for peaceful resolution of the war in Ukraine and the Committee on Middle East Questions – to seek new avenues to foster peace through parliamentary dialogue.

Additional meetings focused on building bridges between countries currently experiencing tensions, such as Armenia and Azerbaijan, and the Democratic Republic of the Congo and Rwanda.

Quotes:

Director-General of the ICRC, Pierre Krähenbühl, opening the Assembly, said: “Dehumanization strips people of dignity in words, policy and practice, and acts as an enabler: by eroding empathy and normalizing suffering, it lowers political and legal barriers to permissive policies, weakens demands for accountability, and makes legal backsliding more politically tolerable. Norms like IHL are bulwarks against that slide, but they can be reimagined, weakened or ignored if dehumanizing narratives become mainstream. That is where parliaments must act.”

IPU Vice-President and President of the 151st IPU Assembly, Gabriela Morawska-Stanecka, said: “Humanitarian norms act as a shield for those who bear no arms: but their reach goes further. These norms also place restrictions on the means and methods of warfare. Over time, humanity has come to recognize that there are limits and that certain weapons and tactics are just too inhumane to be tolerated and should be consigned to history, never to be repeated.”

Secretary General of the IPU, Martin Chungong, said: “Parliamentarians must advocate and legislate for humanitarian action, providing aid to those most affected by armed conflict: saving lives, alleviating suffering and restoring human dignity. In short, humanitarian action appeals to our common humanity: it provides us with a route to overcome division, violence and mistrust, and to help those caught in the crossfire to survive and continue their lives in safety and dignity.”

The IPU Assembly goes east

The 152nd Assembly will take place from 15 to 19 April 2025 in Istanbul, hosted by the Grand National Assembly of Türkiye.

About IPU

Investors turn to cash amid market volatility. Younger investors and self-managed super funds (SMSFs) driving the trend.

24 October 2025 – Younger investors and SMSFs are increasingly allocating more of their investments to high yield cash accounts amid market volatility.

Between 2023 and 2025, investor allocations to term deposits and high-yield savings rose from 9 per cent to 11 per cent, according to Investment Trends, as newer investors are using cash as a buffer, while SMSFs prioritise stability and liquidity . This trend is particularly prevalent among younger investors between 18-24, where allocations rose from 14 per cent to 19 per cent.

This shift is also evident in CommSec’s Commonwealth Direct Investment Account (CDIA), which has seen balances grow 14 per cent since mid-2024 as investors seek flexibility to act quickly when markets change.

CommSec has responded to the trend by launching CommSec Notice Investor, a high-interest savings account to help Australians earn more on surplus cash while preserving the flexibility to move in and out of markets.

While the CDIA serves as the “working float” for trades, CommSec Notice Investor is designed to make surplus funds work harder.

“For investors, cash is no longer a passive parking spot – it’s part of their portfolio strategy. CommSec Notice Investor will empower our customers to take a more strategic approach to cash management alongside the CDIA – combining competitive returns with the convenience of our integrated digital platforms,” said James Fowle, EGM, CommSec.

CommSec Notice Investor offers a competitive, variable interest rate with no balance restrictions, calculated daily and paid monthly.

Key features of CommSec Notice Investor

• Flexible notice periods: Choose between 2-day or 7-day notice periods to suit your investment needs.
• Uncapped investment potential: No balance restrictions, allowing customers to boost savings for as long as funds remain in the account.
• Integrated digital experience: Manage notices and account balances across CommSec and CommBank platforms, with real-time portfolio views and breakdowns.
• No ongoing fees: Free to open and maintain, with transparent terms and conditions available online.
• Expanded eligibility: Available to retail and business banking customers, including SMSFs, aged 18+, Australian residents, and holders of an active CDIA.

The launch of the CommSec Notice Investor account builds on a number of recent initiatives from CommSec to enhance the customer experience, including:

• A new International Order Pad: Expanding investment opportunities by offering customers access to 60 per cent of the world's stocks through the CommSec website.
• AI-generated summaries: Helping customers stay informed with less effort by delivering AI-generated summaries for ASX company announcements in the CommSec app.
• Morningstar premium research: Providing the opportunity to receive timely insights and research from analysts covering over 2,000 Australian and US stocks.

“As Australia’s leading online broker, we’re committed to leveraging the latest technologies and delivering outstanding customer experiences that empower more Australians to build their wealth. The newest enhancements to the CommSec platform are a testament to that ongoing commitment,” said James Fowle.

Existing CommSec CDIA customers can open a CommSec Notice Investor account online in minutes. For more information, visit www.commsec.com.au/noticeinvestor.

Things you should know

The CommSec Notice Investor and Commonwealth Direct Investment Account (CDIA) are issued by the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945. These products are administered by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec), a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia. CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

You can view the CommSec Notice Investor Terms and Conditions and Financial Services Guide on the CommSec website, and should consider them before making any decision about these products and services.

You can view the CommBank Transaction Savings and Investment Account (CDIA) on the CommBank website, and should consider them before making any decision about these products and services.

The CommSec Notice Investor and CDIA TMD’s can be located on the CommBank website.