SINGAPORE: The country's central bank was the third-largest buyer of gold in the world for the first nine months of 2023, after its counterparts in China and Poland, according to the World Gold Council (WGC).
Singapore stocks rise as markets rally following Fed pause; STI up 0.2%
SINGAPORE stocks closed higher on Thursday (Nov 2), in line with a global rally after the Federal Reserve kept interest rates unchanged for the second straight meeting. Read more at The Business Times ...
DBS rolls out plan to improve technology resiliency after repeated banking service disruptions in 2023
DBS Bank has rolled out a roadmap to improve its technology resiliency after its banking services experienced repeated and prolonged outages in 2023, announced the bank in a press release on Nov. 1, ...
Interest Rates and Returns for Singapore Savings Bonds (SSB) in November 2023
Learn more about Singapore Savings Bond (SSB), a bond with a steady rise in interest rates with no capital loss! Table of Contents: What is SSB? Features of the SSB Illustration of SSB Nov 2023 ...
Singapore shares rise at Thursday’s open after Wall Street rally; STI up 0.4%
SINGAPORE shares were pulled into positive territory on Thursday (Nov 2), following overnight gains on Wall Street after the Federal Reserve’s decision to keep interest rates steady. Read more at The ...
DBS apologises for digital bank disruptions, to dock senior management pay
The bank is allotting a special budget of S$80m to enhance its system resiliency. DBS has issued an apology for the series of digital banking disruptions earlier in 2023, and is enacting structural changes to strengthen its digital resiliency.
Singapore nabs US’ spot as largest investor in APAC real estate
"This brings Singapore's cross-border investment value to surpass that of the US by nearly 50%," read the statement from Knight Frank. This stemmed from the strength of the Singapore dollar, which ...
Singapore Central Bank Chief Rules Out Politics Post Retirement
(Bloomberg) -- Singapore’s longest-serving central bank chief ruled out entering politics after he steps down at the end of this year, departing from the route taken by some of his predecessors. Most ...
Singapore regulator bars DBS bank from new acquisitions for 6 months, over ‘unacceptable’ outages
Singapore’s financial regulator on Wednesday barred DBS Group from acquiring new business ventures or reducing the size of its local branch networks for six months, as it steps up efforts to get the lender to resolve a spate of digital banking service ...
UPDATE 2-Singapore c.bank bars DBS Bank from making acquisitions for six months
SINGAPORE, Nov 1 (Reuters) - Singapore's central bank has barred DBS Bank from acquiring new businesses or making non-essential IT changes for a six-month period to ensure it focuses on shoring up its ...
Service outages: MAS bars DBS from acquiring new business ventures, reducing branch and ATM network sizes for 6 months
DBS Bank has been barred from acquiring new business ventures by the Monetary Authority of Singapore (MAS), and also instructed not to reduce the size of its branch and automated teller machines (ATM) ...
DBS chairman says senior management will be held accountable for banking service disruptions
"As an acknowledgement that the bank could have done better, senior management will be held accountable, and this will be reflected in their compensation,” says DBS chairman Peter Seah.
MAS bars DBS from acquiring new business ventures for 6 months after repeated banking service disruptions
SINGAPORE: The Monetary Authority of Singapore (MAS) has barred DBS from any acquisitions of new business ventures for six months, in response to the bank's multiple service disruptions this year. DBS ...
How Singapore is helping ‘future-food’ companies scale up
More than 60 alternative protein companies call the city home and employ nearly 800 people.
MAS suspends DBS from new business ventures, reducing branch and ATM networks over disruptions
SINGAPORE – For six months, DBS Bank will have to suspend non-essential changes to its IT systems, and will not be allowed to take on new business ventures, said the Monetary Authority of Singapore (MAS) on Wednesday. MAS said it directed DBS to suspend ...
Singapore Set to Direct Largest Bank DBS to Fix ‘Unacceptable’ Online Outages
Singapore’s financial regulator is set to direct DBS Group Holdings Ltd. to take further steps to resolve a spate of digital banking service outages.Most Read from BloombergImmigrants Are Leaving ...