Even as inflation is slowly coming down, we’ve been told in recent weeks other prices will be going up – from postage rates and public transport fares to water. It is understandable that price hikes may spark concern about rising costs of living, but it is important people do not become overly anxious, says NUS Business School’s Xu Le. Otherwise, there’s a likelihood that they will cut back on their consumption or investments in various areas, potentially negatively impacting economic recovery.
Local banks DBS and UOB this week announced they will restrict access to their banking apps if unverified apps are found on customers’ phones. They are the latest banks in Singapore to do so – after OCBC and Citibank – amid a spate of malware scams targeting users of Android devices. In particular, scam tactics for in-demand foods like mooncakes and durian reflect the growing sophistication of bad actors, says Bertha Chan of Google.
