Issue #71: What’s Happening This Week? COE Premiums Climb, AI-Skilled Engineers Earn 25% More, and More

This week, Singapore's making headlines on multiple fronts. COE premiums are climbing again, with one category creeping uncomfortably close to a 6-figure milestone. The cross-border taxi scheme between Singapore and Johor Bahru just got a major shake-up, leaving commuters torn between cheers and gripes. A global financial watchdog has weighed in on how well the Republic is fighting financial crime, with a verdict that's mostly cheering but comes with a few firm nudges to do better. And if you're a software engineer wondering whether to skill up in AI, a new salary report has a very persuasive answer for you. Here’s what’s happening this week.

Psst, missed last week’s issue? View all past editions of What’s Happening This Week? to catch up.

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Cross-border taxi scheme revamp: More pick-up points, but pricier rides

If you've been hopping between Singapore and Johor Bahru by taxi, brace yourself for some changes that kicked in on 4 May. The enhanced cross-border taxi scheme now offers more pick-up and drop-off points, but the convenience comes at a steeper price. Day 1 saw mixed reactions, with some commuters at Ban San Street Terminal waiting up to 2 hours as fewer passengers turned up to share the higher fares.

Here's what's new:

• Fares (standard 4-seater): S$80 from Singapore or RM240 from Johor Bahru, up from S$60/RM120
• Distance: Same fare for trips up to 35km; +S$20 for longer rides
• New Singapore pick-ups: Near VivoCity, near Century Square, Joo Koon MRT
• New Johor pick-ups: Toppen Shopping Centre, Mid Valley Southkey Mall, Angsana Mall
• Drop-offs: Anywhere in Singapore, or anywhere in JB, Iskandar Puteri, Forest City, Kulai and Senai
• Fleet size: Up by 100 to 300 taxis per country

GrabCar has bagged the first cross-border ride-hail licence, valid for 3 years.

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ALSO READ: Taking the Train from SG to JB? The Ultimate Guide to KTM Ticket Prices, Train Schedule, and More (2026)

NodeFlair report: Software engineers with AI skills earn up to 25% more in Singapore

If you're a Singapore software engineer wondering whether picking up AI skills is worth the effort, the answer is a resounding yes. NodeFlair's Tech Salary Report 2026, which crunched over 230,000 verified salary data points, found that AI fluency has officially gone from "nice to have" to a real pay bump—a sharp turnaround from 2024, when AI demand wasn't yet showing up in salaries.

Here's how the numbers stack up:

• AI premium: Engineers with AI capabilities earn 13% to 25% more than peers across junior to senior levels
• Senior roles surge: Pay for senior, lead and manager roles rose 10.8% or more
• Junior and mid-level lag: Junior salaries grew 5.3%, mid-level just 1.7%
• Top earners pull ahead: The top 10% of engineers saw increases of up to 19%

Why the widening gap? Engineering leaders told NodeFlair they're placing greater value on senior engineers who can wield AI tools effectively, make smart architectural calls and work autonomously.

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COE prices climb across all categories, with Category A premium nearing $125,000

If you've been eyeing a new ride, brace yourself. Certificate of Entitlement (COE) premiums rose across the board in the latest bidding exercise on 6 May, with smaller cars in Category A inching close to the $125,000 mark. A total of 5,042 bids chased just 3,260 COEs, which helps explain the upward pressure.

Here's how each category landed:

The Land Transport Authority is reviewing COE categorisation after Category B premiums dipped below Category A twice in 2 months, reportedly because manufacturers have been tweaking specs to fit cars into the cheaper category. The May to July quota has been bumped up slightly to 19,052.

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ALSO READ: COE Guide in Singapore (2026): What It Means, Bidding Process & Price Trends

FATF report: Singapore is tough on financial crime, but more work needed in key areas

Singapore got a generally positive report card from the Financial Action Task Force (FATF), the global watchdog that sets international standards for fighting money laundering, terrorist financing and proliferation financing. The 300-plus page assessment, covering 2020 to 2025, found that Singapore remains in good standing — but flagged several areas needing improvement.

The good news first:

• Singapore's ratings improved in 4 areas, including asset recovery and oversight of crypto exchanges, all bumped up to "substantial"
• The $3 billion money laundering case showcased Singapore's strengths in asset recovery
• Over 1,150 suspicious accounts were closed in COSMIC's first year (a digital info-sharing platform among the 6 major commercial banks)
• 24 "compliant" and 14 "largely compliant" ratings across 40 technical aspects

Now the not-so-good:

• Counter-proliferation financing rating slipped from "substantial" to "moderate"
• Most of the 11,000 money laundering investigations targeted low-level money mules instead of complex foreign syndicates
• Representation offices of foreign flag states showed low awareness of sanctions obligations

MAS, MHA and MOF say they'll study the recommendations carefully.

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That’s it for this week! Stay tuned for next week’s What’s Happening This Week to keep up with the latest in finance, business, and beyond. 

This article was first drafted with the help of AI and later reviewed and refined by the author.