United Overseas Bank (UOB) has signed an agreement with cloudBuy, a global provider of cloud-based e-commerce and business-to-business (B2B) solutions to create a virtual marketplace for the Bank’s small- and medium-sized enterprise (SME) customers. ( read original story ...)
Singapore Fines Two Big Banks Over 1MDB Scandal, Shuts Down Another
Singapore’s central bank on Tuesday shut down a second Swiss bank in the city-state and fined banks DBS and UBS in its biggest crackdown on alleged money-laundering activities connected with Malaysian sovereign fund 1MDB. The Monetary Authority of ... ( read original story ...)
Singapore directs Falcon Bank to stop operations in Singapore
The Monetary Authority of Singapore (MAS) said it had ordered Falcon Bank to cease operations in the city-state because of "serious failures in anti-money-laundering (AML) controls and improper conduct" by senior management both at the head office in ... ( read original story ...)
Singapore markets left vulnerable over fears of a repeat Fed tightening tantrum
That puts Singapore in a vulnerable position, concerning a renewed sell-off in Singapore equities and a repeat of severe turbulence seen at the beginning of 2016. There was severe turbulence surrounding the Singapore economy and markets early in 2016 with ... ( read original story ...)
Labour shortage threatens Singapore’s economic growth
Recent jitters over how Singapore will cope with the current myriad of economic challenges it faces, including Brexit, the slowdown in China and weakened global demand, have led to a cut in the economic growth forecast for the nation. The most recent ... ( read original story ...)
Nine clever ways to move from banking to fintech in Singapore
Bankers in Singapore scrambling to get into fintech, but most don’t make the cut. Here’s my advice for beating the competition. Banking recruitment in 2016 has turned out to be a bit of non-event in Singapore (I should know, I’m banking recruiter). ( read original story ...)
Singapore recession risk raises chance of policy easing
SINGAPORE The growing risk of a recession in Singapore has raised the prospects of an off-cycle easing in policy, although for now the consensus among economists is for the central bank to sit tight in the hope the economy sparks to life. Ten out of 15 ... ( read original story ...)