News

Economy

Staff Reporter

, Singapore

Published:

9 years ago

Daily Briefing: Singapore urged to fight financial crimes harder; Foreign factors contribute to pick up in luxury home sales

And the city-state cemented its position as top fintech hub in Asia.

Singapore is urged to take more aggressive action against complex cross-border money-laundering. The Paris-based Financial Action Task Force said the city-state has made significant money-laundering and counter-terrorist financing framework since the last assessment in 2008. Read more here.

The tax amnesty in Indonesia may not be the only thing driving the city-state's Singapore's luxury home sales. According to the American Global investment bank, the growth in prime residential sector can also attributed to the morphing of businesses into investment hold companies or family offices. Read more here.

Singapore has cemented its position as top high profile fintech hub in Asia. It has noted a number of key areas for improvement ahead of a fintech festival to be held in November. All the major national banks are participating in support programmes and fintech research. Read more here.

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