The political party that has ruled Singapore since independence in 1965 is seeking to overhaul its image with voters after the narrowest election victory on record signaled a shortfall in support among younger voters.
Economic miracles sometimes need course corrections, even in Singapore, which last year was home to more U.S. dollar-millionaire households per capita than any other country, according to Boston Consulting Group Inc.
Kwa Geok Choo, the wife of Singapore Minister Mentor Lee Kuan Yew, died today at 5:40 p.m., aged 89, according to a statement from the Prime Minister’s Office. A private funeral will take place on Oct. 6.
The U.S. and U.K. are unlikely to separate banks into deposit-taking and investing activities as the financial industry is too important to their economies, Singapore’s Minister Mentor Lee Kuan Yew said.