$15,000. That's how much a car's price tag could add to—or shave off—your COE bill under a new LTA proposal that would change how COEs are priced for different cars. Elsewhere, Wise wants to make fumbling for cash at an overseas street stall a thing of the past, and Skyscanner reveals where airfares have dropped the most. Local bank shares had a rough week, and a new study shows Singapore's Gen Z workers are quietly building their own plan Bs. Here's what you need to know.
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LTA proposes merging COE Categories A and B, with rebates and surcharges based on car value
Shopping for a car? Your COE could soon be priced differently. The Land Transport Authority (LTA) has proposed merging COE Categories A and B into one car category after premiums in both converged—at the 7 October 2026 exercise, just $99 separated them.
Instead of engine size and power output, a car model's open market value (OMV)—its price before taxes—would decide whether you pay more or less than the prevailing COE premium. LTA has floated 2 options, though final amounts aren't set yet:
Based on 2025 registrations, about half of cars would get a rebate or no extra charge. Models like the Tesla Model Y RWD and Toyota Alphard would attract a surcharge.
Don't expect cheaper COEs overall, though—LTA says prices will still be set by demand and supply. You can give feedback until 11.59 pm on 2 November 2026.
ALSO READ: COE Guide in Singapore (2026): What It Means, Bidding Process & Price Trends
Wise now lets you pay with local QR codes abroad and build your own eSIM plan
Heading overseas for the year-end holidays? Wise has rolled out cross-border QR payments and customisable eSIM plans in its app, with customers in Singapore among the first globally to get access.
Street food stalls and small shops in many countries only take local QR payments, which usually means hunting for an ATM or downloading yet another e-wallet. In a Wise-commissioned YouGov survey, 87% of Singaporeans who travelled overseas in the past 12 months faced payment hurdles abroad. Here's what's new:
- QR payments in 50+ destinations: pay through local schemes like DuitNow (Malaysia) and QR Ph (Philippines), plus Alipay+ merchants in mainland China—no Chinese bank card or local number needed
- One-time eSIM installation: download it once instead of for every trip
- Build-your-own data plans: choose your exact data allowance and number of days
- Refunds on unused plans: handy if your travel plans change
Both features are available to eligible Wise Account customers from 6 October 2026.
ALSO READ: Comparing Digital Multi-Currency Accounts: Wise, YouTrip, Revolut, and More
Skyscanner study: 89% of Singapore travellers plan to travel as much or more in 2027
Rising costs aren't grounding Singaporeans just yet. Skyscanner's Travel Trends 2027 report found that 89% of Singapore travellers plan to travel as much, if not more, next year—they're just getting choosier about where their money goes.
Keeping costs low is a priority for 36%, and 32% are setting aside more for travel insurance. They're also rethinking how and where they travel:
- 44% have switched destinations for a better exchange rate, rising to 55% among Gen Z
- 31% are opting for several "mini-moons" instead of a single honeymoon, rising to 45% among Gen Z
Looking for value? These destinations topped Skyscanner's best-value list, with the biggest year-on-year drops in return economy airfares for flights booked between January and mid-June 2026:
Meanwhile, Belitung in Indonesia topped the trending list, with flight searches up 388% year-on-year.
ALSO READ: Best Time to Book Cheap Flights: A Data-Backed Guide (2026)
DBS, OCBC, and UOB shares extend losses after Citi downgrades OCBC
Holding local bank shares for their dividends? It's been a bumpy week. Shares of all 3 local banks extended their losses on 8 October 2026, after falling the day before. Here's where they closed:
The slide came after Citi downgraded OCBC to "sell" on 7 October 2026, citing softer-than-expected third-quarter earnings expectations. Analysts also pointed to profit-taking and higher global bond yields, which can weigh on credit demand and investor appetite for dividend stocks.
Still, analysts don't expect a prolonged downturn, given the banks' strong capital positions. All 3 hit record highs between July and early September 2026, and analysts expect trading to stay volatile for now. The next big test comes with their November results, when investors will watch whether net interest margins—how much banks earn on loans and investments compared with what they pay on deposits—hold up.
Deel study: 77% of Singapore's Gen Z workers have or want a side income
Young workers in Singapore feel trusted at work, but not always respected. A Deel study of 1,045 workers aged 18–29 found 82% feel trusted to work without being micromanaged, yet 71% feel expected to be grateful just to have a job. Almost half (47%) believe leaders see their generation as entitled and lazy.
Many are also looking beyond a single employer for income and opportunities:
- 77% have or are seeking extra income, and 42% already have a side hustle
- 72% rank pay that keeps up with living costs among their top 3 job priorities, ahead of flexibility (51%)
- 29% see leading a team as a 10-year goal
- 21% list working overseas as a 10-year goal
Money and wellbeing worries run deep too—financial instability (49%) and burnout (46%) rank among their biggest job concerns. As for long-term goals, financial security (71%) and owning a home (60%) top the list.
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.
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