The pledge makes it the first Singapore bank to commit to a zero coal exposure target. Experts praised the announcement, but highlighted the climate legacy the lender’s coal funding will leave behind. ( read original story ...)
Will the Darktrace IPO race out of the blocks?
UK cyber security company Darktrace has announced its intention to list in London in the coming weeks. Read our preview. ( read original story ...)
Singapore’s largest bank aims for zero thermal coal exposure by 2039
Piyush Gupta, chief executive of Singapore's DBS Group Holdings, says the bank will immediately stop taking on new clients that derive more than 25% of their revenue from thermal coal. ( read original story ...)
CEO of major Asian bank shares the difficulty in detecting ‘greenwashing’ among clients
Piyush Gupta of Singapore's DBS Group Holdings says the bank in many instances relies on clients to disclose their activity, and employ third-party auditors to check on customers. Got a confidential ... ( read original story ...)
Light at the end of the tunnel? Singapore to maintain 5.8% GDP growth forecast
The threat of of COVID-19 variants attacking key trading partners may still weaken recovery, advises Fitch. Singapore continues to recover from its 5.2% contraction in 2020, as Fitch Solutions ... ( read original story ...)
Citibank to exit consumer business in India and 12 other markets across Asia, Europe
The bank will instead operate its consumer-banking franchise from four wealth centers in Singapore, Hong Kong, the United Arab Emirates and London, it said Thursday in a statement. ( read original story ...)
Citibank to exit retail banking in india under global plan
The consumer banking business comprises credit cards, retail banking, home loans and wealth management. The bank will be exiting the segment in India after more than three decades. The bank has 35 ... ( read original story ...)
DBS Bank commits to zero thermal coal exposure by 2039
SINGAPORE: Singapore’s DBS Bank has committed to zero thermal coal exposure by 2039, as part of “continued efforts to tackle climate change and ... ( read original story ...)
DBS to exit thermal coal lending by 2039
This comes as financial institutions across the globe face growing pressure to avoid coal-related investments.. Read more at straitstimes.com. ( read original story ...)
Southeast Asia’s largest bank DBS to phase out thermal coal financing
Singapore bank DBS Group said on Friday it would phase out financing for customers that derived revenue from thermal coal and had committed to zero exposure to the sector by 2039. ( read original story ...)
Commentary: Deliveroo’s IPO is a lesson to not underestimate investors
The Deliveroo IPO debacle should not be seen as a barometer of future stock market listings for a few reasons, says The Smart Investor's David Kuo. ( read original story ...)
Traditional IPOs outperform Spacs as blank-cheque frenzy cools
Special-purpose acquisition companies (Spacs) may have become the hottest must-have for business tycoons, celebrities and even athletes, but old-school initial public offerings (IPOs) have quietly ... ( read original story ...)
Singapore nickel trader’s lavish lifestyle allegedly fueled by $740m fraud
In a case that has riveted Singapore’s moneyed-classes, Ng was charged last month with four counts of fraud for allegedly raising at least S$1 billion ($740 million) from invest ... ( read original story ...)
Citibank to exit India consumer banking business as part of global rejig
Citi will focus its Global Consumer Bank presence in Asia and EMEA on four wealth centers — Singapore, Hong Kong, the UAE and London. As a result, Citi intends to pursue exits from its consumer ... ( read original story ...)
Why is Citibank exiting consumer business in India?
Citi has announced today its intention to exit from its consumer franchises in thirteen markets across the two regions which include India. This means the oldest foreign banking entity will be exiting ... ( read original story ...)
Citi Market Exit: Looking for Buyers for India Biz, No Impact on Existing Customers, Says Official
Citi India's Chief Executive Ashu Khullar has assured that there will be no immediate impact of the decision on its employees and operations in India. ( read original story ...)