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 ...
UOB to slash interest rate on One Account
SINGAPORE: In Singapore news today, UOB, one of Singapore’s biggest banks, announced in a letter to its account holders that it would be cutting interest rates on its flagship UOB One account starting ...
OCBC’s Lim trims Seatrium’s fair value to 15.5 cents following DPA but keeps ‘buy’ call
OCBC Investment Research's Ada Lim has kept her "buy" call on Seatrium after the company said it is finalising a deferred prosecution agreement (DPA) with Singapore authorities by paying $76.5 million ...
Monetary Authority of Singapore Launches COSMIC Platform to Combat Money Laundering
COSMIC was co-developed by MAS and six major commercial banks “in Singapore – DBS, OCBC, UOB, Citibank, HSBC and Standard Chartered Bank.” These banks will be “the participant FIs on COSMIC during its ...
Cultivated meat in Singapore: After huge fanfare, does the future look more challenging amid ‘funding winter’?
The cultivated meat sector looks to be in for a long term of funding and growth uncertainty amidst a global ‘funding winter’, even in Singapore which many start-ups in the industry considered ‘the ...