Reuters SINGAPORE (Reuters) - Singapore's central bank said on Friday it imposed penalties on the local units of U.K.-based Standard Chartered Bank and Coutts for money laundering breaches related to Malaysia's scandal-tainted 1MDB fund. The penalties - of ... ( read original story ...)
Singapore fines banks for 1MDB Fund links
SINGAPORE - Singapore regulators said Friday they will fine two banks a total of over $5.3 million for having breached money laundering rules in dealings with an indebted Malaysian state fund. The Monetary Authority of Singapore fined the local branch of ... ( read original story ...)
Singapore slaps penalties on StanChart, Coutts in 1MDB-related probe
SINGAPORE (Reuters) - Singapore's central bank said on Friday it imposed penalties on the local units of U.K.-based Standard Chartered Bank and Coutts for money laundering breaches related to Malaysia's scandal-tainted 1MDB fund. The penalties - of S$5.2 ... ( read original story ...)
Singapore central bank slaps penalties on StanChart, Coutts in 1MDB-related probe
SINGAPORE (Reuters) - Singapore's central bank said on Friday it imposed penalties on the local units of U.K.-based Standard Chartered Bank and Coutts for money laundering breaches related to Malaysia's scandal-tainted 1MDB fund. The penalties - of S$5.2 ... ( read original story ...)
Upcoming retail stores step up technology adoption
The retail landscape in Singapore remains tough with overall rental declining ... Edmund Tie&Co notes that several upcoming developments are integrating technology with their physical stores to manage manpower constraints, as well as to attract the ... ( read original story ...)
Singapore and Japan hope TPP will be ratified and entered into force 'expeditiously'
TOKYO: Japan and Singapore will work together to ratify the Trans-Pacific ... negotiations so as not to reverse the trend of free trade," said Mr Abe in a joint news conference. Both countries are part of the 12-nation TPP that would cover about 40 per ... ( read original story ...)
Singapore in Beijing's Cross Hairs Over Taiwan Ties
For decades, Singapore has walked a careful line between the U.S. and China. Now, the tiny Southeast Asian state is finding itself in Beijing’s cross hairs. China has gone public in recent months to chastise Singapore for a perceived alignment with the U ... ( read original story ...)
Singapore and Myanmar ties to improve
Singapore and Myanmar will begin discussions on a bilateral investment treaty and avoidance of double taxation, in a sign of growing economic ties between the two countries. This move will send a positive signal to investors and boost economic growth, said ... ( read original story ...)
Apple Pay now extended to HSBC cardholders in Singapore
SINGAPORE — HSBC cardholders in Singapore can begin using the Apple Pay mobile payment and digital wallet service from Thursday (Dec 1), the bank has announced. As part of its launch promotion, customers who link their HSBC creditcards to Apple Pay will ... ( read original story ...)
DBS eliminates a dozen jobs at brokerage as trading slumps
SINGAPORE —DBS Group Holdings cut at least 12 roles across Asia at its brokerage unit, the latest bank to shrink its trading desk as volumes slump. DBS Vickers Securities is rationalising its institutional business unit as it seeks to be “more ... ( read original story ...)
Singapore one of lowest tax-GDP ratio among Asian economies: OECD
SINGAPORE: Singapore is among the lowest-taxed economies in South-east Asia and among economically advanced nations as a whole, according to a report issued on Tuesday by the Organisation for Economic Co-operation and Development (OECD). Only Indonesia ... ( read original story ...)
Singapore, Japan central banks agree on currency swap line
SINGAPORE (Reuters) - The Monetary Authority of Singapore (MAS) and the Bank of Japan have established a local currency swap agreement, the MAS said on Wednesday. The agreement allows for the exchange of local currencies between the two central banks of up ... ( read original story ...)
Room for more at Singapore Sevens
The global economy looks shaky in the next few years, but organisers of the Singapore leg of the HSBC World Rugby Sevens Series are still confident of pulling in the fans next April. The slowing economy has already affected this year's edition of the ... ( read original story ...)
DBS, Bank of Singapore in acquisition mode
Acquisition this year amounted to $400m. DBS Group Holdings Ltd. and Bank of Singapore, Asia’s largest home-grown private banks, will consider more acquisitions as they grapple for a bigger slice of business from the region’s growing number of ... ( read original story ...)
Singapore businesses ‘not too worried’ as TPP's fate hangs in the balance
According to the Singapore Business Federation (SBF), the local business community has "not expressed any concerns so far with regard to the TPP". Given the scale and complexity of the agreement, its ratification and implementation was not going to be ... ( read original story ...)
Singapore central bank cautions property investors
Singapore's property investors got a yellow card from the city-state's central bank in its annual financial stability review. "Before investing in property, investors should be aware that rising vacancy rates, declining rentals and impending interest rate ... ( read original story ...)