Funds in bank accounts that are seized in money laundering cases do not belong to the banks involved, and the amount of these funds should not be linked to the banks' culpability in such cases before ...
Singapore Manufacturing Activity Returned to Expansion in September
The PMI for electronics, which accounts for about a third of Singapore's manufacturing, improved to 49.8 in September from 49.5 in August, the SIPMM data showed. The latest reading extended the sector ...
Ministers respond to clarifications sought on Singapore’s anti-money laundering regime
Second Minister for Home Affairs Josephine Teo, Monetary Authority of Singapore board member Alvin Tan and Second Minister for Finance and National Development Indranee Rajah addressed clarifications ...
How $2.8b money laundering probe affects S’pore’s economy, property and charities
SINGAPORE – Ministers and MPs engaged in a nearly four-hour-long exchange on Tuesday on an ongoing $2.8 billion money laundering probe, the largest in Singapore. ( read original story ...)
UPDATE 1-Bank debt sales surge in cashed-up Singapore
“When the dollar space is stressed, people seek out alternative markets,” said Clifford Lee, managing director and global head of fixed income at DBS Bank in Singapore. The drawcard for issuers are ...
Foreign-sourced disposal gains subject to tax from Jan 1
Foreign-sourced disposal gains will be subject to tax in Singapore from Jan 1, 2024 if received by entities of multi-national enterprise groups that do not have economic substance here. Read more at ...
Singapore money-laundering probe not done ‘at the behest of China’: minister
Minister Josephine Teo dispelled as ‘completely untrue’ reports that Singapore went ahead with the raid soon after Chinese Foreign Minister Wang Yi’s visit in August.
Crypto Liquidity Provider GSR Scales through Regulatory Hurdle, Secures Approval in Singapore
The regulatory compliance efforts of crypto trading firm and liquidity provider GSR in Singapore may have finally paid off.
Singapore start-up Atera Water, NTU Singapore and SIT to make large-scale clean water production more affordable for developing nations
Singapore water tech start-up Atera Water and scientists from Nanyang Technological University, Singapore (NTU Singapore) and the Singapore ...
Singapore to set up inter-ministerial panel, review measures to boost anti-money laundering controls
SINGAPORE will form an inter-ministerial committee to consider further measures to strengthen its anti-money laundering regime. Read more at The Business Times.
Singapore COVID-19 infections surge in 17-23 Sept, more than double the previous week
Singapore saw a surge in COVID-19 infections during the week of 17 to 23 September, with a total of 14,843 confirmed cases, more than double the previous week.
UOB first Singapore bank to trial Microsoft AI
Singaporean bank UOB will begin its use of Microsoft 365 Copilot in October, with 300 of its employees across multiple frontline and back-end business functions progressively gaining access to the new ...
UOB pioneers trial of Microsoft 365 Copilot Generative AI tool across multiple business functions to enhance productivity and collaboration
SINGAPORE – Media OutReach – 3 October 2023 – UOB is the first Singapore bank to trial Microsoft 365 Copilot, a Generative Artificial Intelligence (Generative AI)-powered productivity tool. As part of ...
Singapore tables amendment bills for law training, tax relief, CPF
THREE bills to make amendments to legislation – for the training regime for lawyers, income tax relief and Singapore’s Central Provident Fund (CPF) – were introduced in Parliament on Tuesday (Oct 3).
Chee Hong Tat on Income Tax (Amendment) Bill
Senior Minister of State for Finance Chee Hong Tat said the aim is not to tax capital gains but to align key areas of Singapore’s tax regime with international norms. The Bill also proposes to mandate ...
Explainer: How Singapore’s anti-money laundering rules tackle the scourge of ‘dirty money’ on different fronts
SINGAPORE: In the wake of one of the biggest money laundering probes in Singapore, three ministerial statements were delivered in parliament on Tuesday (Oct 3) to address a bevy of parliamentar ...