The wealth of HNWIs in Singapore grew by 12.8% to $858.42 billion in 2017. Singapore now has more high net worth individuals (HNWIs), whose wealth also grew by 12.8 percent from $761.24 billion in 2016 to $858.42 billion in 2017, reported Singapore ... ( read original story ...)
Singapore lost its crown as the world’s most digitally competitive country
The rankings took into consideration every country’s performance on three factors: knowledge, technology, and future readiness. Singapore reached first place in the knowledge and technology factors but 15th in future readiness. “Seemingly, despite ... ( read original story ...)
Singapore loses top spot to US in global ranking of digital competiveness
SINGAPORE – Singapore lost the top spot and dropped to second place in a digital competitiveness ranking of 63 economies, pipped by the United States in a move up from third place last year. In the ranking by Swiss business school IMD, Singapore topped ... ( read original story ...)
Singapore’s OCBC plans China wealth management business to boost profits
HONG KONG (Reuters) - Oversea-Chinese Banking Corp Ltd (OCBC) plans to set up a wealth management business in China as part of a strategy to double its profit in five years in the country’s so-called Greater Bay Area, its chief executive said. The ... ( read original story ...)
DBS introduces new virtual bank recruiter named Jim
DBS has introduced a new virtual bank recruiter to help its recruiters hire wealth planning managers more efficiently. According to a press statement, Jim, an acronym for “Jobs Intelligence Maestro”, is the brainchild of Singapore start-up Impress.AI ... ( read original story ...)
Singapore Telecommunications Limited’s Latest Full Year Earnings Update: What Happened With Its Consumer Business?
Singapore Telecommunications Limited (SGX: Z74) is Singapore’s largest operational telco, and it currently has three business segments: Group Consumer, Group Enterprise, and Group Digital Life. In mid-May, Singtel announced its full year earnings update ... ( read original story ...)
Singapore water treatment firm Hyflux gets 6-month reprieve from creditors
SINGAPORE: A Singapore court granted Singapore water treatment ... It applied to the country's high court in May to begin a reorganisation of its business. Trading in the company's shares have been suspended for the past month. "The court granted a six ... ( read original story ...)
HSBC Singapore and Grab close syndicated facility for vehicle fleet financing
HSBC has closed a S$500 million five-year asset-backed syndicated facility for Grab, one of the leading O2O mobile platforms in Southeast Asia. The facility has a potential upsize of S$800 million. HSBC acted as sole structuring advisor, mandated lead ... ( read original story ...)
Men in headlocks, exchange blows after S’pore driver hits Malaysian car at Customs
A trio of men were caught on video shouting at each other and exchanging blows in a dispute that happened along the Malaysia–Singapore Second Link. Stomper Jun Ye Wu posted a video of the incident in Stomp's public Facebook group on June 17. In his ... ( read original story ...)
RPT-Singapore’s OCBC plans China wealth management business to boost profits
HONG KONG, June 19 (Reuters) - Oversea-Chinese Banking Corp Ltd (OCBC) plans to set up a wealth management business in China as part of a strategy to double its profit in five years in the country’s so-called Greater Bay Area, its chief executive said. ( read original story ...)
Singapore M&A activity hit 4-year high at US$33.8b
Two large M&A deals breached the US$3b mark in H1. Overall Singapore merger and acquisition (M&A) activity jumped 19.1% to US$33.8b so far this year, reaching the highest first half period since 2014 at US$54.6b, Thomson Reuters revealed. According to data ... ( read original story ...)
Singapore export growth surges in May
Pharmaceutical shipments can be highly volatile but they did the trick last month, driving Singapore export growth to a seven-month high. Non-oil domestic exports jumped 15.5 per cent over the same month last year, easily trumping economist expectations of ... ( read original story ...)
Grab Clinches Deal With HSBC
Ride-hailing startup Grab has secured a $370 million five-year asset-backed syndicated facility from HSBC Singapore, said to boost the financing of the homegrown company’s vehicle fleet growth in Singapore. According to a statement by HSBC on Sunday ... ( read original story ...)
Singapore Exports Surge
Singapore’s exports grew at a surprisingly robust pace in ... recently saying it would levy additional tariffs on as much as $50-billion worth of Chinese imports. Beijing has responded with similar measures on US products. Although many observers say ... ( read original story ...)
My country wants to go cashless, so I redesigned a digital wallet, DBS PayLah!
Paylah! is a mobile payment solution developed by Development Bank of Singapore (DBS) where transfers are done through a registered mobile number or via QR codes. The app was first introduced as an alternative to internet banking for peer-to-peer transactions. ( read original story ...)
UPDATE 2-U.S. oil slumps as China threatens duty on U.S. crude imports
SINGAPORE, June 18 (Reuters) - U.S. oil prices slumped on Monday after China threatened duties on American crude imports in an escalating trade dispute with Washington. U.S. West Texas Intermediate (WTI) crude futures CLc1 touched their lowest level since ... ( read original story ...)