What's News: Feb 2, 2016

The Singapore authorities are interviewing "various individuals" and have seized a "large number" of bank accounts over possible money-laundering and other offences linked to alleged financial mismanagement at Malaysian state investor 1Malaysia Development Berhad (1MDB). They have been investigating possible offences since the middle of last year.

A five-room flat at City View @ Boon Keng has been sold on the resale market for $855,000. It is the first unit there to be sold on the resale market, after the Housing Board allowed the owners to sell their unit early before the project's five-year minimum occupation period ends in April.

Europe is greatly increasing military and security spending on the fight against terrorism, a shift from the austerity mantra that has dominated its policies in recent years. Leaders are encouraging a more flexible approach to give them financial firepower to counter the growing threat.

Scientists are scrambling to uncover more about the little-known virus named Zika, as the mosquito-borne virus spreads rapidly across the Americas and could soon grip Asia, Europe and Africa. South-east Asia has been bracing itself for an outbreak.

The global economy is faltering, fiscal and monetary policies have been pushed beyond conventional limits and the signs point to an underlying change in the economy's functioning, writes David Skilling. Policymakers, he says, need to recalibrate their mental models.

Youth hangout *Scape has been made over, with facilities such as an indoor space for film screenings and talks and an outdoor stage for performances. Located beside Orchard Cineleisure, it also has a walkway to showcase street performances and wall art.

Overseas Singaporeans who need to access e-government services when two-factor authentication becomes compulsory from July will have to register for it at the SingPass website.

Singapore firms are excited at the prospect of doing business in Iran, now that international sanctions on the country have been lifted. The oil-rich nation of 80 million people represents a huge untapped market for companies across the business spectrum, from energy to transport and consumer goods.

Long-time Chelsea captain John Terry revealed on Sunday that he will leave the English Premier League club at the end of the season, after the Blues refused to offer him a new contract.

The 35-year-old said that he was eager to stay, and that the decision meant there would be no "fairy tale" ending to his time at Chelsea.

Global sales for auction house Christie's, which came in at £4.8 billion (S$9.8 billion) last year, were 5 per cent shy of its record £5.1 billion in 2014.

Yet its sales of Asian art increased by 9 per cent to £478.6 million, while sales in Asia rose 2 per cent to £525.6 million.

Actress Vanessa Hudgens (above) put on a praiseworthy performance in Grease: Live, a day after her father died. Julianne Hough and Aaron Tveit played lead characters Sandy and Danny in Sunday's live musical event. But it was Hudgens - playing Betty Rizzo, the leader of the Pink Ladies - who drew the most praise on Twitter.