Singapore's DBS Group reported a 7% rise in quarterly net profit that came in slightly above market estimates and gave a robust outlook as Southeast Asia's largest lender gains from sharply higher ... ( read original story ...)
DBS Second Quarter Profit Beat Driven by Lending Income
DBS Group Holdings Ltd. said profit rose in its second-quarter, driven by higher lending income though gains were offset by declines in wealth management and investment banking fees. ( read original story ...)
China’s State Grid to invest $22 billion in ultra high voltage power lines – report
China's State Grid plans to invest more than 150 billion yuan ($22 billion) in the second half of 2022 in ultra high voltage (UHV) power transmission lines, state media Xinhua News reported on ... ( read original story ...)
HSBC faces scepticism as pushback against breakup call starts
HSBC Holdings Plc kickstarted its public fightback against Ping An Insurance Group Co’s push to break it up this week. The early indications are that the lender has a long way to go to convince some ... ( read original story ...)
Aadi Vaidya, COO of troubled Singapore fashion startup Zilingo, departs firm
Aadi Vaidya has left the firm, confirmed the senior executive on Friday. Vaidya joined the Singapore fashion startup as its vice president, and head of expansion in 2015 and took over as COO in 2017, ... ( read original story ...)
China’s Wuxi Biologics Moving Big In Singapore
China's WuXi Biologics has announced a 10-year investment plan aimed at establishing a world-class pharmaceutical contract manufacturing center i ... ( read original story ...)
China’s State Grid to invest $22 bln in ultra high voltage power lines -report
China's State Grid plans to invest more than 150 billion yuan ($22 billion) in the second half of 2022 in ultra high voltage (UHV) power transmission lines, state media Xinhua News reported on ... ( read original story ...)
5 Singapore businesses tried to profiteer using GST rise as excuse: Gan Kim Yong
Five businesses were alleged to have used the GST increase as an excuse to increase the prices of essential products and services, said Minister for Trade and Industry Gan Kim Yong. In a written reply ... ( read original story ...)
HSBC Hard Sells Growth Plan to Disgruntled Investors After Rebuffing Breakup
HONG KONG/SINGAPORE (Reuters) -HSBC executives on Tuesday defended the lender's strategy to operate as a global bank and promised better returns to disgruntled individual shareholders in Hong Kong, a ... ( read original story ...)
Singapore’s OCBC Shares Hit 3-Mth High on Stellar Quarterly Results
Investing.com-- Shares of Oversea-Chinese Banking Corp (SGX:OCBC) hit a three-month high on Wednesday after Singapore’s second-largest bank logged strong growth in its second-quarter profit. As of ... ( read original story ...)
Singaporeans With Low Incomes Continue to Face the Lowest Wage Growth, DBS Says
Low-income earners in Singapore will face the lowest growth in wages and the biggest jump in household expenses as inflation rises, according to DBS. ( read original story ...)
Asia-focused SPAC Catcha Investment 2.0 withdraws $250m US IPO
Catcha Investment 2.0, the second blank cheque company formed by Singapore-based internet investment firm Catcha Group, has filed to withdraw its plans to raise $250 million in an initial public ... ( read original story ...)
Rising Interest Rates and Returns for Singapore Savings Bonds (SSB) — Should You Start Investing In It?
With the increased attention toward personal assets, people are looking to strengthen their portfolios by investing in low-risk bonds. Learn more about Singapore Savings Bond (SSB), a bond with a ... ( read original story ...)
Singtel adds $100M to startup investment arm
Singapore telco pumps another $100 million into its VC arm Innov8 to expand its investment portfolio across Southeast Asia, China, Australia, Israel, and the US. ( read original story ...)
Singapore’s Central Bank to Consult Public for Stablecoin Regulations
The MAS is reviewing a regulatory regime targeting risks involving stablecoins, the minister in charge of the bank said. ( read original story ...)
No change to ‘generous’ CPF interest rates amid inflation, with floor rates still higher than bank rates: Tan See Leng
SINGAPORE — The interest rates for the Central Provident Fund (CPF) will remain unchanged for now because interest rates at banks continue to be below the effective CPF floor rates. ( read original story ...)