Even as it readies to trial digital currency, MAS noted that the case for a retail central bank digital currency (CBDC) is 'not compelling for now' Analysts point out that retail CBDCs may not be of ... ( read original story ...)
OCBC to raise flagship OCBC 360 account interest rates up to 7.65%
Oversea-Chinese Banking Corporation (OCBC), on Oct 31, announced that it will raise its interest rates for its flagship OCBC 360 account from Nov 1. The revised rates are said to be at an all-time ... ( read original story ...)
Singapore’s DBS Bank trials use of digital SingDollar with vouchers
DBS Bank, the largest lender in Southeast Asia, has partnered the Singapore government’s Open Government Products (OGP) to pilot purpose-bound money-based vouchers (PBM) using tokenized Singapore ... ( read original story ...)
Singapore Business Outlook Turns More Pessimistic
Business sentiment in Singapore's manufacturing sector is to remain negative in the next six months as demand may be dampened by ... ( read original story ...)
Singapore’s UOB to stop backing new upstream oil and gas projects, sets 2050 net-zero targets for polluting sectors
Singapore’s UOB bank will stop backing new upstream oil & gas projects. It also laid out its 2050 net-zero targets for six polluting sectors. ( read original story ...)
Why Indian startups are setting base in Singapore but Flipkart-owned PhonePe isn’t
The Indian payments service provider PhonePe, which is supported by Flipkart, declared earlier this month that it had finished moving its headquarters from Singapore to India. American grocery giant ... ( read original story ...)
Local deep-tech alliance partners Enterprise Singapore on commercialisation programme
As part of Startup SG Accelerator, SDTA will run a nine-month “venture building” programme targeted at experienced founders. ( read original story ...)
Singapore to trial use of digital Singdollar for government payouts and vouchers
SINGAPORE - Four trial projects will be undertaken this year to assess the use of a digital Singapore dollar by individuals, businesses and the Government to make or receive specific payments. The ... ( read original story ...)
What’s the ‘hottest’ investment country in Southeast Asia?
Its digital economy is expected to grow by 22% to $18b in 2022. Singapore is considered to be the “hottest” investment country in Southeast Asia as its digital economy is expected to grow 22% to $18b ... ( read original story ...)
AustAsia passes HKEX listing hearing for trimmed IPO
Indonesian milk company AustAsia has got permission from the Hong Kong Stock Exchange for its public float, cutting its offering from an initial target of $100m to roughly $50m-$70m due to difficult ... ( read original story ...)
Busy weeks ahead for Singapore market as companies announce results
It is going to be a busy week ahead in the Singapore market as more companies are scheduled to release their quarterly results during the coming weeks. Read more at straitstimes.com. ( read original story ...)
Inflation-Fighting Central Bank Powers Rally in Singapore Bonds
The Monetary Authority of Singapore’s reliance on exchange rate as the monetary policy tool to fight inflation is bringing rich dividends for bond investors. Most Read from BloombergLula Edges Out Bol ... ( read original story ...)
Trust Bank to raise rates for savings account, open help centre to lure more customers
From Nov 1, savings account holders will earn a base interest of 1.5 per cent per annum on deposits of up to $75,000. Read more at straitstimes.com. ( read original story ...)
UOB sets out plan to meet net-zero targets by 2050
Goal will be met by cutting financing to upstream oil projects and setting emissions reduction goals in other sectors. Read more at straitstimes.com. ( read original story ...)
DBS’ purpose-bound money vouchers, like CDC vouchers but better
There is a new kid on the block that goes by the moniker purpose-bound money-based (PBM) vouchers issued by DBS Group Holdings. To download PBM vouchers, scan a specific QR code issued by DBS, sign up ... ( read original story ...)
Transport engineering cluster seen as most optimistic as business sentiments in manufacturing sector remain negative
Looking ahead, a net weighted balance of 17% of manufacturers expect lower output in the 4Q2022 for the next six months. ( read original story ...)