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Category: FINANCE

Posted on 08/05/2024

MAS follows up on DBS to identify reasons for disruptions and address them effectively

SINGAPORE: The Monetary Authority of Singapore (MAS) is following up on DBS to identify reasons... The post MAS follows up on DBS to identify reasons for disruptions and address them effectively appea ...

Posted on 08/05/2024

Shell Agrees to Sell Singapore Assets to Glencore-Indonesian JV

(Bloomberg) -- Shell Plc has agreed to sell its Singapore refining and chemicals assets to a joint venture between commodity trader Glencore Plc and Indonesian company PT Chandra Asri Pacific. Most ...

Posted on 08/05/2024

Cambodian nationals deported from Singapore following record money laundering convictions

Two men, Su Wenqiang and Wang Baosen, both of whom hold Cambodian passports and were convicted in Singapore's largest-ever money laundering case, were deported to Cambodia on May 6, according to the ...

Posted on 08/05/2024

UOB Profit Dips, Maintains Optimistic Outlook for 2024: 5 Highlights from the Bank’s Latest Earnings

UOB is the second Singapore bank to report its earnings. The post UOB Profit Dips, Maintains Optimistic Outlook for 2024: 5 Highlights from the Bank’s Latest Earnings appeared first on The Smart ...

Posted on 08/05/2024

UOB’s Profit Beat Outshone By Growth Outlook at Rival DBS

United Overseas Bank Ltd. first-quarter profit came in above estimates even as its outlook was overshadowed by stronger projections at larger rival DBS Group Holdings Ltd.Most Read from BloombergTrump ...

Posted on 08/05/2024

Amazon to Invest $9 Billion in Singapore Cloud Infrastructure

The tech giant will spend $9 billion to expand its cloud services in Singapore, coming as global tech companies are boosting their data-center footprints in Asia amid a boom in demand for ...

Posted on 08/05/2024

MAS Ensures DBS Addresses Root Causes of Recent Online Banking Disruptions

MAS has intensified its oversight of DBS Bank following repeated disruptions to its online banking and payment services.

Posted on 08/05/2024

UOB posts small drop in quarterly profit, confident of maintaining key margin level

SINGAPORE: Singapore's United Overseas Bank (UOB) posted a smaller-than-expected 2% drop in first-quarter profit on Wednesday and said it was confident of preventing further declines in its net ...

Posted on 08/05/2024

UOB Q1 profit drops 2% to $1.49 billion on lower net interest income; beats forecast

UOB had a muted start to 2024 as its margins from interest rates dropped, even as loans picked up pace and fee income rose. Net profit for the first quarter fell 2 per cent to $1.49 billion, down from ...

Posted on 08/05/2024

Singapore’s MAS Asks DBS to Identify Cause of Outages, ST Says

Singapore’s regulator has asked DBS Group Holdings Ltd. to figure out the root cause of recent disruptions to its internet banking and payment services and deal with it effectively, the Straits Times ...

Posted on 08/05/2024

UPDATE 1-Singapore bank UOB’s first-quarter net profit drops 2%, but beat forecasts

SINGAPORE, May 8 (Reuters) - Singapore's United Overseas Bank (UOB) reported on Wednesday a 2% decline in net profit in the first quarter from a year earlier on the back of a drop in net interest ...

Posted on 08/05/2024

Singapore government briefings for international banks not ‘unusual’ as asserted in FT article: Indranee

In an Apr 20 article, the Financial Times reported that Singapore had given international banks an "unusual series of top-level briefings on geopolitics".

Posted on 08/05/2024

Standard Chartered readies debut euro covered bond

Standard Chartered Bank is set to issue its first euro covered bond — a three to five year benchmark issued through its Singaporean branch. “Everyone knows the name,” said a syndicate banker close to ...

Posted on 08/05/2024

DBS CEO Piyush Gupta sells $2.7 million worth of bank shares

SINGAPORE - DBS chief executive officer Piyush Gupta has gained $2.7 million after selling 75,000 of his shares in the bank, according to a filing on the Singapore Exchange on May 7. The transaction ...

Posted on 07/05/2024

In Data: Global cloud industry set to exceed $1.4trn by 2027 as AWS doubles Singapore cloud investment

The global cloud industry is set to exceed $1.4trn by 2027 according to research and analysis company GlobalData as news comes today (7 May) that Amazon Web Services (AWS) will double its investment ...

Posted on 07/05/2024

WP’s Louis Chua explains why $1 is worth less in Singapore than elsewhere

SINGAPORE: Workers’ Party MP Louis Chua posted an interesting question on Facebook on Tuesday morning... The post WP’s Louis Chua explains why $1 is worth less in Singapore than elsewhere appeared fir ...

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