Financial Services
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FINANCIAL SERVICES |
8 hours 44 min ago
59 reads
You'll be surprised with the results.
According to The Eurekahedge Report June 2013, Asia ex-Japan hedge funds outperformed underlying markets for three consecutive months. Read ››
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FINANCIAL SERVICES |
17 Jun 13
93 reads
SIBOR and SOR were under review.
According to a release, the Monetary Authority of Singapore (MAS) announced a proposed regulatory framework for financial benchmarks. Read ››
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FINANCIAL SERVICES |
15 Jun 13
339 reads
New criminal and civil sanctions introduced.
In a release, the Monetary Authority of Singapore (MAS) said that the proposed new regulatory framework for financial benchmarks has two key thrusts. Read ››
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FINANCIAL SERVICES |
15 Jun 13
278 reads
Also cracks down on erring traders.
Twenty banks were found to have deficiencies in the governance, risk management, internal controls, and surveillance systems for their involvement in benchmark submissions, according to MAS after the regulatory body conducted a year-long review. Read ››
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FINANCIAL SERVICES |
14 Jun 13
168 reads
It must be thankful for it.
According to Nomura, 1Q13 loan growth of 7% q-q was boosted by a large corporate crossborder deal. Read ››
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FINANCIAL SERVICES |
14 Jun 13
381 reads
Expect new rate-setting process today, said Bloomberg.
According to a report by Bloomberg, Singapore’s central bank plans to reprimand banks in the city-state as early as Friday following an 11-month review into how benchmark interest rates are set, five people with knowledge of the matter said. Read ››
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FINANCIAL SERVICES |
13 Jun 13
152 reads
Overseas profit contribution jumped to 35%.
According to Nomura, there are 2 key areas of growth. Read ››
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FINANCIAL SERVICES |
13 Jun 13
114 reads
Here are the matters of concern.
According to a release, Singapore Exchange (SGX) is consulting the public on proposed circuit breakers for the securities market. Read ››
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FINANCIAL SERVICES |
11 Jun 13
154 reads
They'll be available from 25 June.
In a release, the Monetary Authority of Singapore (MAS) announced today that the Singapore Third Series coins will be available at retail banks in Singapore from 25 June 2013. Read ››
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FINANCIAL SERVICES |
11 Jun 13
394 reads
They're now on a 22-month high.
According to a Bloomberg report, Singapore bonds slumped, pushing 10-year yields to a 22-month high, after better-than-forecast U.S. Read ››
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FINANCIAL SERVICES |
11 Jun 13
3177 reads
It will cater to 30% of Singapore’s rich.
United Overseas Bank recently opened a new universal branch and Wealth Banking Centre in Jurong Lake District to serve the banking needs of the rapidly developing community. Read ››
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FINANCIAL SERVICES |
10 Jun 13
129 reads
Cash flow forecasting is the primary challenge.
Bank of America Merrill Lynch Global Transaction Services (GTS) and SunGard announced the key findings of their inaugural Asia Pacific Treasury Barometer survey. Read ››
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FINANCIAL SERVICES |
10 Jun 13
318 reads
Can store 200 tonnes of gold bullion.
In a release, Deutsche Bank announced the establishment of one of the largest custodial and vaulting services for gold at the Singapore Freeport.The vault has the capacity to store up to 200 tonnes of gold bullion in a state-of-the-art facility on behalf of Deutsche Bank’s clients. Read ››
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ECONOMY, FINANCIAL SERVICES |
08 Jun 13
87 reads
Lending and shadow banking risks still "manageable".
BBVA notes that the People’s Bank of China (PBoC) has released its annual financial stability report, stressing that, despite rising risks from lending in the real estate sector and growth of shadow banking, the overall financial system remains healthy. Read ››
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FINANCIAL SERVICES |
07 Jun 13
128 reads
Here's a new way to pay.
According to a release, Visa Inc. Read ››
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FINANCIAL SERVICES |
07 Jun 13
269 reads
600 deals are being done.
Southeast Asian global investment market has seen a surge in the past few years as 600 deals are being transacted just in Asia-Pac alone. Read ››
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FINANCIAL SERVICES |
06 Jun 13
363 reads
Banking sector must be very happy.
According to CIMB, should interest rates rise, winners in Singapore would be banks and companies with cash piles. Read ››
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FINANCIAL SERVICES |
05 Jun 13
611 reads
S-REITS are in danger.
According to CIMB, should interest rates rise, losers would be companies with high net gearing and REITs. Read ››
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FINANCIAL SERVICES |
04 Jun 13
146 reads
But the sector expanded over 2012.
Speaking at the 4th World Islamic Banking Summit 2013, Minister for Trade and Industry and Deputy Chairman of the Monetary Authority of Singapore Mr Lim Hng Kiang said that Islamic financial activities in Singapore have continued to expand over the past year. Read ››
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FINANCIAL SERVICES |
04 Jun 13
464 reads
Products range from virtual credit cards to security token to enhance ebanking experience. Read ››
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FINANCIAL SERVICES |
04 Jun 13
121 reads
Thanks to the strong business loans.
According to Nomura, YTD loan growth of 6.4% was driven by business loans at 8.7%YTD while consumer loans registered a 3.3% YTD growth.
Business loan growth was boosted by general commerce (1.3%m-m, 12.4%YTD), building and construction loans (2.5%m-m, 8.3%YTD) and manufacturing (-0.2%m-m, 27%YTD,). Read ››
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FINANCIAL SERVICES |
04 Jun 13
178 reads
Daily average value also rose.
According to a release, Singapore Exchange (SGX) said its securities and derivatives activities grew in May both month-on-month and year-on-year. Read ››
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FINANCIAL SERVICES |
04 Jun 13
149 reads
But LDR jumped to record 99%.
According to Barclays, the MAS April monetary statistics showed slowing loan growth momentum after a strong 1Q13, while the system loan to deposit ratio rose to 99%, another record high since 1999.
Barclays also noted that as system liquidity tightens, they believe foreign banks will continue to drive pricing competition and margins for the sector will trend lower in the near-term.
Read ››
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FINANCIAL SERVICES |
03 Jun 13
92 reads
Extended till August 1 this year.
In a Singapore Exchange update of its ongoing Bank Danamon acquisition transaction, DBS Group Holdings Ltd (DBS) said its the conditional share purchase agreement with Fullerton Financial Holdings Pte. Read ››
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FINANCIAL SERVICES |
03 Jun 13
299 reads
April statistics reveal momentum is moderating.
According to Barclays Research, the MAS April monetary statistics showed slowing loan growth momentum after a strong 1Q13, while the system loan to deposit ratio rose to 99%, another record high since 1999. Read ››
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FINANCIAL SERVICES |
31 May 13
343 reads
It's JP Morgan's enhanced online banking platform.
J.P. Morgan has unveiled the next generation of J.P. Read ››
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FINANCIAL SERVICES |
31 May 13
141 reads
Domestic loans and advances were S$522.3b.
Citing the Monetary Authority of Singapore, Reuters said that total bank lending in Singapore rose 0.9 percent in April from March. Read ››
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FINANCIAL SERVICES |
30 May 13
366 reads
1 in 4 bank senior managers expects headcount increase.
Singapore is set to capture a fair share of new job growth in the global banking and financial services industry, according to a new survey by specialist recruitment firm, Robert Half. Read ››
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FINANCIAL SERVICES |
30 May 13
207 reads
Indonesia geared to bar control.
According to a report by Bloomberg, Investors are betting that Indonesia will drive DBS Group Holdings Ltd. Read ››
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FINANCIAL SERVICES |
29 May 13
90 reads
It will be headed by Ms Tay Hwee Ling.
According to a release, the Monetary Authority of Singapore (MAS) officially opened its Beijing Representative Office.
The Beijing Representative Office will further strengthen bilateral collaboration between MAS and the People’s Bank of China (PBC), as well as with other Chinese financial authorities including China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CIRC) and China Insurance Regulatory Commission (CIRC). Read ››
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FINANCIAL SERVICES |
27 May 13
230 reads
To boost Singapore as RMB hub.
According to a release, Singapore Exchange (SGX) launched depository services for renminbi-denominated (RMB) bonds.
This new service will support Singapore's development as an offshore RMB hub as issuers and investors of RMB-denominated bonds coming to SGX will find a seamless and more efficient process for managing their RMB assets with the depository of such bonds at SGX. Read ››
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FINANCIAL SERVICES |
27 May 13
273 reads
Bank Indonesia approved 40% stake sale.
According to CIMB, newswires came through saying that Bank Indonesia (BI) has approved a 40%-stake sale of PT Bank Danamon to DBS.
It also says that BI will continue to negotiate with MAS and may allow DBS to buy all of Temasek’s stake in Danamon if certain conditions are met. Read ››
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FINANCIAL SERVICES |
23 May 13
355 reads
Mortgages are 23-24% of gross loans.
According to Macquarie Equities Research, it sees UOB as most exposed of the big three banks to Singapore mortgage repricing. Read ››
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FINANCIAL SERVICES |
23 May 13
221 reads
Lack of major investment banking deals loom.
According to Macquarie Research, they believe the rally in Singapore bank stocks is looking tired and we would look to pare down holdings at current levels.
The solid top line numbers of 1Q13 may represent a short-term top for profitability, as business activity may cool off and margins remain under pressure in Singapore in upcoming quarters. Read ››
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FINANCIAL SERVICES |
22 May 13
424 reads
Is it really effective?
According to the Monetary Authority of Singapore, the tight monetary policy stance since April 2010 has been effective in containing inflationary pressures and keeping the economy on an even keel. Read ››
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FINANCIAL SERVICES |
22 May 13
BY MANAN SAGAR
495 reads
In recent years major insurers, reinsurers, and insurance brokers have moved much of their Asian-focused business to Singapore - and for good reason. Read ››
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FINANCIAL SERVICES |
22 May 13
286 reads
Momentum to slow in 2H.
According to Macquarie Equities Research, it believes the rally in Singapore bank stocks is looking tired and it would look to pare down holdings at current levels.
The solid top line numbers of 1Q13 may represent a short-term top for profitability, as business activity may cool off and margins remain under pressure in Singapore in upcoming quarters. Read ››
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FINANCIAL SERVICES |
22 May 13
132 reads
Even if it entails added cost.
88% of Singapore businesses would welcome more global cooperation and guidance from tax authorities on what is acceptable and unacceptable tax planning, even if this provided less opportunity to reduce tax liabilities across borders, according to the latest research from the Grant Thornton International Business Report (IBR), a quarterly survey of more than 3,000 businesses in 44 countries conducted between January and February
2013. Read ››
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FINANCIAL SERVICES |
22 May 13
338 reads
Credit costs were near-zero.
According to Macquarie Equities Research, in its view, OCBC’s 1Q13 financial performance was the weakest of the three Singapore banks (DBS, UOB) in that the earnings “beat” was led entirely by credit costs, which were close to zero.
Read ››
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FINANCIAL SERVICES |
22 May 13
220 reads
That's from July to September.
According to a release, all Central Provident Fund (CPF) members will receive a risk-free interest rate of 2.5% on their Ordinary Account savings from 1 July 2013 to 30 September 2013. Read ››
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