If you think that fixed deposits are only for conservative cash-rich aunties and uncles, think again. A fixed deposit (also known as a time deposit) account is a type of bank account that pays ...
Singapore banking dynasty scion pays US$29 million for mansion amid lull in high-end property market
Grace Wee Jingsi, the youngest child of United Overseas Bank Ltd. CEO Wee Ee Cheong, is taking advantage of a lull in the city state’s high-end housing market to buy a ‘good class bungalow’, according ...
DBS Singapore Gallery 1 to close on April 8 for planned revamp
SINGAPORE - The DBS Singapore Gallery at the National Gallery Singapore (NGS) will receive a revamp in phases from April, with Gallery 1 set to close on April 8. Gallery 1 will remain closed till ...
‘Preferential’ rates for local firms to defray sustainability-related costs under new DBS, Enterprise Singapore scheme
Singaporean businesses with annual sales turnover of up to $1 billion can look forward to “preferential” financing rates from DBS to defray costs from developing and adopting sustainable business ...
Singapore launches platform to tackle money laundering
The Monetary Authority of Singapore (MAS) has launched a centralised digital platform that lets financial institutions share customer information in order to tackle money laundering and terrorism ...
Why Bank Deposits’ Base Interest Of 0.05% In Singapore No Longer Makes Sense (But May Still Be Useful For Singaporeans)
Banks offer a low base interest rate on basic savings accounts due to the simple nature of providing a basic banking account service.
Standard Chartered picks new investment banking regional heads, source says
Standard Chartered has picked new regional heads for its corporate and investment banking business (CIB), according to a person with knowledge of the matter, as the Asia-focused bank undergoes a major ...
Shein IPO ‘major event’ as ‘extensive’ range bags $2bn profit in 2023
A GlobalData analyst told Just Style exclusively fast fashion giant Shein has managed to ‘establish itself as a serious contender’ in clothing as it considers its next move on IPO.
Su Wenqiang, accused in $3b money laundering case, sentenced to 13 months’ jail
The Cambodian national pleaded guilty to two charges of money laundering on April 2. Read more at straitstimes.com.
Singapore Market gains 0.4%
At closing bell, the Straits Times Index (STI) index was up 12.83 points, or 0.4% to 3,247.72 after trading between 3,230.48 and 3,252.82. Volume of 2.15 billion shares worth S$1.04 billion changed ...
First man convicted in Singapore billion-dollar money laundering case
SINGAPORE: The first suspect to plead guilty in Singapore's largest money laundering case was convicted and sentenced to 13 months' jail in a district court on Tuesday (Apr 2). Su Wenqiang, 32, ...
OCBC cross-border QR payments to quadruple in 2024 on China tourist wave
The OCBC Digital app saw monthly growth averaging 65% up to 80% in 2023, which the bank attributed to it being the first in Singapore bank to offer five cross-border QR payment products in its mobile ...
Rally in equities to broaden with energy and healthcare sectors benefitting, says DBS CIO
At this point, the CIO prefers bonds to cash due to their 5% yield, which provides consistent cashflows into a portfolio.
Singapore climbs to sixth in resilient cities index
This notable advancement highlights Singapore's resilience amidst global economic, social, and technological changes, positioning it as an attractive hub for investors and occupiers alike. The latest ...
Singapore banks set aside 4.9 bln USD deposit with Money Lock
SINGAPORE, April 2 (Xinhua) -- Singaporean banks have set up over 78,000 bank accounts with the "Money Lock" service, setting aside savings of 6.6 billion Singapore dollars (4.9 billion U.S. dollars) ...
Standard Chartered Bank to lower maximum interest rate on savings account to 7.68% from May 1
SINGAPORE: Standard Chartered Bank will be lowering the maximum interest rate on its Bonus$aver account to 7.68 per cent per annum from May 1, based on a check of its ...