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<keyword id="19895045" type="General" weightage="100" keywordseo="Singapore" source="keywords">Singapore</keyword>: India and Singapore held the 2nd round of the <keyword id="21531849" type="General" weightage="20" keywordseo="India-Singapore-Ministerial-Roundtable" source="keywords">India-Singapore Ministerial Roundtable</keyword> (<keyword id="22918586" type="General" weightage="20" keywordseo="ISMR" source="keywords">ISMR</keyword>) in Singapore on Monday and reviewed the progress of the strategic partnership between the two nations, the Ministry of External Affairs said in a press release. The two nations decided to add two new pillars, 'Advanced Manufacturing and Connectivity' for further strengthening bilateral cooperation. Finance Minister Nirmala Sithraman, External Affairs Minister Jaishankar, Commerce and Industry Minister <keyword id="19895367" type="General" weightage="20" keywordseo="piyush-goyal" source="keywords">Piyush Goyal</keyword> and Railways Minister Ashwini Vaishnaw represented the Indian side in Singapore. From the Singapore side, Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, Vivian Balakrishnan, Minister for Foreign Affairs, K Shanmugam, Minister for Home Affairs and Minister for Law, Josephine Teo, Minister for Digital Development and Information and Second Minister for Home Affairs, Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry and Chee Hong Tat, Minister for Transport and Second Minister for Finance participated in the meeting. "The Ministers reviewed the progress of India - Singapore Strategic Partnership, particularly under the pillars of Digitalization, Skills Development, Sustainability, Healthcare and Medicine, identified during the 1st meeting of ISMR, held in New Delhi on September 17, 2022," the statement read. They deliberated on ideas to expand bilateral cooperation and decided to add two new pillars, Advanced Manufacturing and Connectivity for further strengthening bilateral cooperation. The Ministers agreed to hold the next round of ISMR in India at a mutually convenient time. During their visit, the Indian Ministers also called on Singapore President, Tharman Shanmugaratnam, and Singapore Prime Minister Lawrence Wong. "India and Singapore are important partners of each other. The visit reaffirmed the commitment of both sides to further strengthen their multifaceted partnership," MEA added. Singapore Prime Minister Lawrence Wong has called the India-Singapore Ministerial Dialogue an important platform for strengthening bilateral ties. Finance Minister Nirmala Sitharaman thanked Singapore PM for meeting them and stated that talks with Lawrence Wong clearly show that ties between India and Singapore are on sound footing. <keyword id="19922551" type="General" weightage="20" keywordseo="EAM-Jaishankar" source="keywords">EAM Jaishankar</keyword> thanked the Singapore Ministers for their commitment to deepen ties between the two nations. (ANI)

India, Singapore to focus on advanced manufacturing, connectivity to boost bilateral relations

<ul class="summary-list"><li>Traditional ice cream carts and their elderly vendors are a familiar sight in Singapore.</li><li>The $1.10 treats are often sandwiched between rainbow-colored bread and are especially popular among tourists.</li></ul>Squatting on the ground in front of a bicycle parked along an empty alley in<a target="_blank" href="https://www.insider.com/singapore-lifestyle-food-shopping-malls-weather-heat-misconceptions-2023-9"> Singapore</a>, an elderly man carefully hammers a block of dry ice into smaller pieces."It stings, but I'm quite used to it," the man, who prefers to be known only by his last name, Liang, told me in Mandarin Chinese.<div type="image" title="An elderly man handling dry ice with his bare hands." height="1199" width="1800" msid="106253253" hostid="261" sizebytes="69430"></div>It's a windy, overcast Friday morning and Liang, who is in his 70s, is getting ready for work.Soon, he'll load his cooler with <a target="_blank" href="https://www.insider.com/best-ice-cream-shop-every-state-2019-6">ice cream</a> from the wholesale distributor next door before selling the treat to passersby in the sweltering equator heat for about 1.50 Singapore dollars, or the equivalent of $1.10, with only the shade of his bike's umbrella to keep him cool.<div type="image" title="An elderly Singaporean man with a slight frame holds a giant umbrella next to his ice cream cart." height="1199" width="1800" msid="106253254" hostid="261" sizebytes="150698"></div>Liang is one of Singapore's remaining traditional ice cream sellers and part of a bygone era.Up until the '60s, Singapore was teeming with street hawkers, selling everything from shaved ice desserts to <a target="_blank" href="https://www.insider.com/singapore-bak-kut-teh-hawker-food-michelin-guide-bib-gourmand-2023-9">pork rib soup</a>.Now, only about 150 of them are working on the streets today, largely due to strict regulations in the city-state.Unlike America's ice cream trucks, these hawkers in Singapore run their business on bikes — some of which aren't even motorized.The vehicles come attached with a cooler to store blocks of ice cream in an abundance of flavors, from the traditional (chocolate, vanilla) to the less common (corn or even the polarizing fruit, <a target="_blank" href="https://www.insider.com/malaysia-farmers-durian-raub-pahang-legal-battle-king-fruit-2021-7">durian</a>).<div type="image" title="A close-up shot of a woman's hands, holding two traditional ice cream sandwiches." height="1199" width="1800" msid="106253255" hostid="261" sizebytes="39522"></div>Orders can be served in a cup, between two thin wafer biscuits, or, perhaps most recognizably, wrapped in a slice of rainbow-colored bread.<h2>These days, licenses are difficult to obtain</h2>For many Singaporeans, these traditional ice creams are an affordable, nostalgic treat. Buying one from one of Singapore's "ice cream uncles" is almost a right of passage.<div type="image" title="One of the traditional ice cream carts along Orchard Road, Singapore's main shopping street." height="1200" width="1800" msid="106253256" hostid="261" sizebytes="176264"></div>But it's not easy being a traditional ice cream seller in Singapore, where street hawking is strictly regulated by the Singapore Food Agency, or SFA."In 1994, street hawkers were licensed in a one-time exercise to control their numbers and no more licenses were issued after that," the SFA told me in a statement. "However, in the early 2000s, the Street Hawking Scheme was reopened as a means to temporarily help those who are needy tide over their financial difficulties."These licenses are valid for one year but are non-transferable, the SFA added.<div type="image" title="An elderly man securing a giant umbrella onto his ice cream cart." height="1199" width="1800" msid="106253257" hostid="261" sizebytes="173606"></div>"The older generation hawkers were previously issued with islandwide licenses, which enabled them to ply their trade anywhere in Singapore, such as in tourist belts like Orchard Road," Kenneth Goh, the third-generation owner of <a target="_blank" href="https://chipguanheng.com/">Chip Guan Heng</a>, an ice cream distributor, told me over emailHowever, the newer hawkers tend to be issued with localized licenses specific to the region where they reside, Goh added.<div type="image" title="A close-up of a traditional ice cream cart." height="1200" width="1800" msid="106253258" hostid="261" sizebytes="117290"></div>In 2019,<a target="_blank" href="https://www.channelnewsasia.com/singapore/orchard-road-ice-cream-carts-street-hawkers-1327026"> Channel News Asia</a> reported that there were only 13 street hawkers left who were permitted to sell ice cream on any "public land," per the SFA. This includes about seven sellers on Orchard Road."The Street Hawking Scheme is intended to provide temporary assistance for the unemployed and is not a permanent solution for anyone trying to make a living," the SFA said.Today, if anyone approaches the SFA for a street hawking license, the SFA would connect them to the Social Service Office to see if they require financial or employment assistance.The SFA did not respond to additional queries about the difference in license types, if new licenses are still being issued today, and whether or not it has plans to ensure the continuity of Singapore's ice cream hawking scene.The SFA also did not share the cost of these licenses, although an old article published by local paper <a target="_blank" href="https://www.todayonline.com/singapore/tissue-paper-peddlers-are-unlicensed-hawkers-says-nea">Today</a> in 2014 reported that the licenses under the renewed Street Hawking Scheme cost S$120 a year.<h2>'It's just the way it is'</h2>One 80-year-old seller named Tan Ah Hock told me he has been selling ice cream since 1967. He's set up on the city's popular shopping street Orchard Road most days of the week from 11 a.m. to 10 p.m."If I can finish selling early, I'll leave early," Tan said. Last week, a colleague told me she saw him still set up and selling to a line of customers past 10:30 p.m.<div type="image" title="An elderly man slicing a block of durian-flavored ice cream at his cart along Orchard Road, Singapore's main shopping district." height="1200" width="1800" msid="106253328" hostid="261" sizebytes="146498"></div>The<a target="_blank" href="https://www.mom.gov.sg/employment-practices/retirement"> minimum retirement age</a> in Singapore is 63 years old. But Liang, Tan, and many other traditional ice cream sellers in the country find themselves working well into their golden years.The job is physically demanding: The old ice cream sellers carry heavy boxes and spend most of their 10-hour shifts on their feet.<div type="image" title="An elderly man looks through a styrofoam cooler box filled with dry ice and ice cream." height="1200" width="1800" msid="106253329" hostid="261" sizebytes="115472"></div>There's also barely any time for a break, especially for those on Orchard Road.Such was the case for an 82-year-old seller, who prefers to be known by his last name Wang, when I visited him on a Wednesday afternoon. His cart is located in front of Wisma Atria, a long-standing mall on the street.Barely 10 minutes after his giant red umbrella came on — a signal that he's open for business — a line formed in front of his cart.I watched quietly beside him as he sliced through a giant block of chocolate chip ice cream.<div type="image" title="A close-up shot of an elderly man's wrinkled hands slicing ice cream into smaller blocks." height="1200" width="1800" msid="106253330" hostid="261" sizebytes="79330"></div>"It's getting harder to cut these frozen ice cream blocks. My wife is coming to help me later, she's got more strength," Wang told me. "I'm already old."<h2>Nostalgia and tourism could save the industry, but is it too little, too late?</h2>Chan Yong Leng, another Orchard Road ice cream seller who has been in the business since the '60s, thinks the industry will die out in a few years.<div type="image" title="An elderly ice cream seller poses next to his ice cream cart along Orchard Road." height="1200" width="1800" msid="106253331" hostid="261" sizebytes="152372"></div>"It's tough doing this business," Chan, 78, told me. "Business is better if there are tourists."Indeed, I noticed most people buying traditional ice creams on Orchard Road were tourists.Social media appears to be a major driver in the industry. A Filipino couple on their first visit to Singapore told me they learned about the ice cream uncles through TikTok and wanted to try it out for themselves.<div type="image" title="Customers posing with their traditional ice cream in front of the cart." height="1200" width="1800" msid="106253332" hostid="261" sizebytes="95868"></div>And for many<a target="_blank" href="https://www.insider.com/singapore-new-blue-zone-netflix-locals-disagree-life-sucks-2023-9"> Singaporeans</a>, these traditional ice cream sellers are an important part of the local heritage."I'll try to buy ice cream and support them when I can," Darren Tan, a 26-year-old local, told me. "It'll be sad if there are no more ice cream seller uncles in the future. There are not many places in Singapore where you can find such affordable and nostalgic ice cream."Over the past decade, Goh has also witnessed a steady decline in the number of ice cream hawkers in the country."It would be very sad if we are no longer able to hear the familiar sound of the ice cream bells ringing in our estate in the near future," he added.<div type="image" title="A close-up shot of an elderly man's wrinkled hands on the lid of a biscuit tin." height="1200" width="1800" msid="106253333" hostid="261" sizebytes="99104"></div>When I asked Chan, nearing 80, if he ever considers retirement, he told me he plans to continue selling ice cream for a few more years."Things may be different now, but in the past, people would look down on you if you told them you sold ice cream," Chan said. "I don't feel any particular way about the industry dying out, it's just the way it is."

Singapore's 'ice cream uncles' are disappearing. Blame old age and bureaucracy. 

<ul class="summary-list"><li>Global shares rose, buoyed by investor hopes that a successful COVID-19 vaccine rollout would cement economic recovery this year.</li><li>The dollar fell to its lowest in almost three years against other major <keyword id="97983" type="PERSON" weightage="60" keywordseo="currencies">currencies</keyword>, including the Chinese <keyword id="62260" type="COMPANY" weightage="60" keywordseo="Yuan">yuan</keyword>, which sent gold to two-month highs and propped up oil, while Bitcoin traded around $30,000.</li><li>"The year has started very much the same as the previous year ended: risk up and the dollar down," Axi chief market strategist Stephen Innes said.</li></ul>Global stocks rose on Monday, kicking off the new year with a dose of optimism over the economic recovery that many investors hope a COVID-19 vaccine will bring, while Bitcoin traded near record highs above $30,000 and gold and oil rallied.A flurry of upbeat manufacturing activity reports from China, Japan and India pointed to ongoing recovery in some of the world's largest economies, which helped underpin positive sentiment. Giving an extra shot in the arm to risk assets was the ongoing decline in the US dollar, which investors sold in favor of stocks, <keyword id="35149" type="PERSON" weightage="60" keywordseo="commodities">commodities</keyword>, cryptocurrencies and emerging-market currencies."The year has started very much the same as the previous year ended: risk up and the dollar down," Axi chief market strategist Stephen Innes said.In vaccine-related news, the UK became the first country to approve use of the University of Oxford and AstraZeneca's candidate, ahead of a probable tightening of restrictions given the explosion in cases over the past couple of weeks, while the Japanese government considered a new state of emergency for Tokyo and surrounding areas. US <a href="https://markets.businessinsider.com/futures/s&amp;p-500-futuresures">stock futures</a> rose broadly, gaining between 0.4% and 0.5%, indicating that more all-time highs for the <a href="https://markets.businessinsider.com/index/s&amp;p_500_500">S&amp;P 500</a>, the <a href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a> and the <a href="https://markets.businessinsider.com/index/nasdaq_composite">NASDAQ</a> may be on the cards later in the day when regular trading resumes after a hiatus since Thursday.Politics remain front and center for US <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>, ahead of the first major risk event of 2021 - the rerun of the Georgia Senate election. If the two seats up for grabs pass to the Democrats, this could spell more weakness for the US dollar, analysts said."Any surprise win for the Democrats here could raise concern of greater regulatory oversight for the US tech sector and prompt some position adjustment in US equities," ING global head of markets Chris Turner said.Read more: <a href="https://www.businessinsider.com/stock-market-investing-space-industry-to-grow-1-trillion-bofa-2020-10?=opening-bell">The space industry will grow by over $1 trillion in the next decade, says Bank of America. Here are the 14 stocks best-positioned to benefit from the boom</a>The <a href="https://markets.businessinsider.com/index/us-dollar-index">dollar index</a> was last down 0.5% on the day, trading around its lowest since April 2018, and slid 1.1% against the <a href="https://markets.businessinsider.com/currencies/usd-cny">Chinese yuan</a> to its lowest since mid-2018, and fell 0.4% against both the <a href="https://markets.businessinsider.com/currencies/usd-jpy">Japanese yen</a> and the <a href="https://markets.businessinsider.com/currencies/usd-thb">Thai baht</a>. Asian benchmark stock indexes closed mostly higher, with the <a href="https://markets.businessinsider.com/index/shanghai_composite">Shanghai Composite</a> and <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> gaining 0.9% and the <a href="https://markets.businessinsider.com/index/kospi">KOSPI</a> rising 2.8%. Japanese stocks were the exception, given the potential for a state of emergency in the capital, which stripped 0.7% off the <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei</a>."From economic and fundamental standpoints, there are good reasons for Asian currencies to catch up. For one, we expect economic growth in Asia to reach a brisk 8.2% in 2021 with the help of favorable base effects," UBS Global Wealth Management analysts Dominic Schnider and Teck Leng Tan said in a note.In Europe, the "real-economy" sectors led the push higher, with basic materials, construction and chemical stocks all gaining, in spite of rising infection rates in the region and the threat of tougher, longer lockdowns in the UK and Germany. On the first trading day since the UK formally left the European Union's orbit, the <a href="https://markets.businessinsider.com/index/ftse_100">FTSE 100</a> was the best performing index in the region, rising by nearly 2% on the day, compared with a gain of 0.9% in the broader <a href="https://markets.businessinsider.com/index/stoxx_europe_600">STOXX 600</a>. Conservative Prime Minister Boris Johnson on Sunday said lockdown restrictions would likely get more severe over the coming weeks. The explosion in cases due to a new, more contagious variant of the virus has prompted school closures and a return to remote learning for part of January in London and parts of the south east. The <a href="https://markets.businessinsider.com/currencies/gbp-usd">pound</a> traded steadily against the dollar and marginally lower against the <a href="https://markets.businessinsider.com/currencies/eur-gbp">euro</a>, falling 0.2%. "The greenback remains an unloved currency on the first trading day of 2021. Low interest rates and an improving economic outlook following vaccines rollout has led to further short selling in the US dollar, particularly against the euro and Chinese yuan," FXTM analyst Hussein Sayed said in a note. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a>, which on Sunday hit a record $34,800, was last trading around $31,060, down around 10%. The price is still double what it was just over a month ago.With the dollar languishing around its lowest in nearly three years, <a href="https://markets.businessinsider.com/commodities/gold-price">gold</a> rallied 2% to trade around two-month highs close to $1,940 an ounce, while <a href="https://markets.businessinsider.com/commodities/silver-price">silver</a> rose 3.7% to around $27.48 an ounce. "Gold is the standout mover today, hitting its highest level since Nov 9. The move looks more reflective of a "risk-on" stimulus trade via a softer dollar than anything else," Axi's Innes said.Oil, which last year lost more than 20% in value thanks to the biggest destruction in energy demand on record, rose sharply. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude futures</a> rose 2.4% to around $53.03 a barrel, while <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">US futures</a> gained 2.2% to reach $49.59 a barrel. Read more: <a href="https://www.businessinsider.com/stock-market-crash-bubble-growth-7-years-negative-returns-gmo-2021-1?r=opening-bell">Jeremy Grantham's GMO called the dot-com bubble. His firm now sees 'very odd and speculative things' going on again - and warns large US stocks could see negative returns over the next 7 years</a>

Global stocks kick off 2021 with a vaccine-driven rally, while Bitcoin trades above $30,000 and gold gets a boost from the dollar

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India, Singapore to focus on advanced manufacturing, connectivity to boost bilateral relations

ANI

Singapore's 'ice cream uncles' are disappearing. Blame old age and bureaucracy.

Amanda Goh

Global stocks kick off 2021 with a vaccine-driven rally, while Bitcoin trades above $30,000 and gold gets a boost from the dollar

Amanda Cooper

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