New way to pay up — just use mobile phone numbers or IC

SINGAPORE — Consumers will soon be able to transfer funds directly to one another using their mobile phone number, with the PayNow service. Seven banks — Citibank Singapore, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and United ... ( read original story ...)

Singapore to allow banks to enter non-financial e-commerce

SINGAPORE Singapore's central bank will streamline regulatory requirements to allow banks to conduct or invest in non-financial e-commerce businesses, it said late on Tuesday. Finance Minister Heng Swee Keat, speaking at an event organised by the ... ( read original story ...)

New PayNow service enables funds transfer using mobile phones

Seven banks – Citibank Singapore, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and United Overseas Bank – will offer this scheme from July 10, according to a statement by the Association of Banks in Singapore (ABS) on Tuesday (June 22). ( read original story ...)

Singapore listed 5th costliest city for expats

Singapore has been ranked as the fifth most expensive city for expats in Mercer’s annual Cost of Living Survey, reported Singapore Business Review. Emerging as the most expensive city in Asia, Hong Kong was surpassed by Luanda to take on the second place ... ( read original story ...)

Philippines, Singapore push open banking system

MANILA, Philippines - The Philippines is set to pursue an agreement with Singapore as part of efforts to open up the banking industry aimed at greater financial integration and economic development among members of the Association of Southeast Asian ... ( read original story ...)

China risk has DBS rethinking mainland exposure

HONG KONG -- Like its peers here, the Hong Kong arm of Singapore's DBS Group Holdings has reaped increasing benefits from its mainland China-related business in the past several years. However, Hong Kong banks' rising reliance on the second largest economy ... ( read original story ...)

Singapore is falling behind Hong Kong, just do the math

Yet, despite benefiting from the world’s biggest market in terms of population size as its hinterland, the gap between Hong Kong’s GDP per capita and that of Singapore has widened, and is predicted to be about US$30,000 this year.-- Letters to the ... ( read original story ...)

Singapore Stock Market Likely Rangebound On Tuesday

( - Ahead of Monday's holiday for Eid-ul-Fitr, the Singapore stock market has turned lower again - one session after it had ended the two-day losing streak in which it had surrendered more than 45 points or 1.4 percent. The Straits Times Index ... ( read original story ...)

HSBC launches global social network for businesses

The hub will also give users access to HSBC data and reports. UK businesses that join the hub will be able to connect with organisations in Singapore, Canada, China, Hong Kong, India, Mexico, and the US. More countries will be added in the future. ( read original story ...)