This decision by DBS Group to cut its CEO's compensation comes despite the bank reporting a two percent increase in net profit to S$2.39 billion in the quarter ending December 31.
DBS Group’s India-born CEO Piyush Gupta takes $4.1 million variable cut. Here’s why
Singapore's biggest lender DBS Group Holdings Limited has said that its chief executive officer Piyush Gupta took a 30 per cent cut in variable pay which amounts to Singapore $4.1 million, Bloomberg ...
Median monthly household income in Singapore above $10,000 in 2023 for second consecutive year
SINGAPORE: The median monthly income from work for Singapore households was above S$10,000 for the second year in a row in 2023.
Standardising food expiry date labels could result in extra costs, impact food imports
Use by” dates are for highly perishable food, while "best before" dates are for food items with longer shelf life. Read more at straitstimes.com.
Singapore bank DBS cuts CEO pay on digital disruptions despite record profit
DBS Group cut CEO Piyush Gupta's pay by S$4.1 million ($3.05 million), penalising him for last year's digital banking disruptions, even as Singapore's largest lender posted a record 2023 profit and ...
Singapore Ex-PM’s Son Found Liable for Millions Lost by Company
Singapore’s High Court has found Goh Jin Hian liable for $146 million in losses under his watch as director of a now-insolvent marine fuel supplying company, adding to the legal problems facing the ...
This was Singapore’s biggest commercial investment deal in Q4
According to a Savills report, Singapore’s commercial sector recorded a total of S$1.6 billion worth of investment sales in Q4/2023, which came from 13 transactions (all from the private sector). ...
Singapore’s DBS slashes CEO’s 2023 pay by $3m
CEO Piyush Gupta's variable compensation, which typically covers bonus payouts, was cut by 30%, which amounted to SG$4.14 million ($3.08 million), DBS said in a media release as it published its ...
Stealing food, fiddling with ATMs: Macaque gets up to monkey business at Beauty World
SINGAPORE: Singaporeans are no strangers to monkeys and their antics, from daredevil stunts straight out of the Mission: Impossible action movies to hanging out on a huge crab replica at The Punggol ...
DBS slashes CEO’s variable pay by 30% after multiple digital disruptions
DBS Group cut compensation for its senior management to "hold them accountable" for a number of digital disruptions that year.
Google says Singapore has ‘very high’ potential to be a global AI hub
"In order for AI to really deliver on its potential, you need really good public and private partnerships," Caroline Yap of Google Cloud told CNBC.
Singapore Android users to be blocked from installing certain unverified apps as part of anti-scam trial
SINGAPORE: Some Android users in Singapore will automatically be blocked from installing apps from unverified sources, with a new security feature that Google plans to progressively roll out in the ...
Singapore bank giant cuts boss’ bonus over outages
The boss of Singapore's biggest bank DBS has seen his bonus cut by 30% after disruptions to its digital services, despite it posting record profits.The company said the cut to Piyush Gupta's variable ...
DBS Q4 profit up 2% before one-off items, proposes 1-for-10 bonus share issue
In addition, DBS’s board is proposing a 1-for-10 bonus issue, meaning one bonus share for every 10 shares held. The bonus shares will qualify for dividends, starting from the first-quarter 2024 ...
UPDATE 2-Singapore’s DBS maintains 2024 guidance, Q4 profit beats forecasts
Q4 net profit rose to S$2.39 bln vs S$2.37 bln estimate * Proposed final dividend 54 cents/share and 1-for-10 bonus issue * Net interest margin at 2.13% in Q4 versus 2.05% a year earlier * 2023 ROE ...
DBS CEO Piyush Gupta takes 30% cut in 2023 variable pay for bank’s digital disruptions
SINGAPORE - The 2023 variable compensation for DBS Group Holdings chief executive officer Mr Piyush Gupta and other members of the lender’s group management committee has been cut to hold them ...