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 ...
DBS Rents Hong Kong Retail Space at 18% Lower Than Asking Price
DBS Group Holdings Ltd. clinched a deal to rent retail space in Central’s New World Tower for 18% less than the asking price, according to a person familiar with the matter.
The Singapore Dollar Hits 3.50 Against The Malaysian Ringgit: 3 Groups Who Will Be Benefit (And 2 Groups Who Won’t)
With the Malaysian Ringgit trading at 3.50 against the Singapore Dollar, there will be some groups of people who will gain from the appreciation of the SGD ...
OCBC and SIA: SGX Banking Shares for Steady Dividend Income
SGX-listed Oversea-Chinese Banking Corp. Ltd., or OCBC (SG:O39), and Singapore Airlines Limited, or SIA (SG:C6L), are popular stocks in the market known for their steady dividend income. These stocks ...
Singapore Accelerates Digital Asset Licensing in Global Fintech Race
As the sun sets over Singapore's glittering skyline, an unseen race is being waged. Not on the city's bustling streets or in its high-tech offices, but in the ether of digital space where ...
Analysts mixed on UOB’s outlook after 3QFY2023 results
OCBC Investment Research’s Carmen Lee has also kept her “buy” call on UOB with an unchanged target price of $32.50 after the bank’s 3QFY2023 earnings were in line with her expectations. The analyst is ...
UOB makes steady progress on net zero commitment
UOB today released its first net zero progress report on its commitment to reach net zero by 2050, as it makes positive headway in meeting the targets set for its focus sectors.
DBS upgrades OUE Commercial REIT to ‘buy’ as hospitality sector recovers ahead of expectations
The REIT’s asset enhancement initiative (AEI) at Crown Plaza Changi Airport, which is slated to be completed by December 2023, is expected to attract more travellers in 2024 and beyond.
Why The Next Blockbuster Therapy May Come Out Of Singapore
Singapore's recruitment of talent, billions in investment, top universities, and attraction of venture capital makes it an exciting emerging hub for biotech innovation.