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When is a financial institution not a financial institution? When it’s Wirecard

IT WOULD have been the quintessential business success story. Founded in Munich in 1999, this small payment processor for online gambling and pornography sites grew so massive that, by 2018, it had displaced Commerzbank from Germany's prestigious Dax 30 index.

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DBS unveils new digital planning tools to boost financial resilience

DBS says a third of its customers had negative cash flow in January to June 2020. The bank also says it is ramping up its suite of digital financial planning solutions and tools to empower Singaporeans for a head start in retirement planning and to boost their...

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Singapore banks’ dividend cap to bring short-term pain, but higher payouts in end

SHARES of Singapore's local lenders extended their slide on Thursday, after the central bank asked them to cap dividend payouts.

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Singapore bank lending continues to slide in June

BANK lending in Singapore continued its decline for the fourth consecutive month in June, dragged down by business loans and consumer loans amid the uncertainty from the ongoing Covid-19 pandemic.

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Bitcoin’s hedge fund sharks are swimming with the whales

Bitcoin is doing that thing again. After a 50 per cent slump in the cryptocurrency's price to about US$4,000 in mid-March, when Covid-19 panic was gripping the financial markets, it has bounced back to trade at about US$11,200. Veteran crypto-watchers have seen this rapid shift from...

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Singapore bank lending extends fall in June for fourth consecutive month

BANK lending in Singapore continued its slide for the fourth consecutive month in June, dipping 0.7 per cent from the previous month to come in at S$680.36 billion, preliminary data from the Monetary Authority of Singapore (MAS) showed on Thursday.

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Hot stocks: DBS, OCBC, UOB tumble after MAS asks to cap dividends

SHARES of Singapore's local lenders extended their slide on Thursday morning, after the central bank asked them to cap dividend payouts.

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MAS to extend US$60b swap facility with US Fed

THE Monetary Authority of Singapore (MAS) announced on Thursday that it will continue to provide US dollar (USD) through the extension of the US$60 billion swap facility with the US Federal Reserve through March 31, 2021.

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3 to 4-year timeline proposed for dropping Sibor

A CONSULTATION report has recommended that the SGD Singapore Interbank Offered Rates (Sibor) be discontinued in three to four years, and that the Singapore Overnight Rate Average (SORA) be used as the main interest rate benchmark for SGD financial markets going forward.

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MAS calls on local banks to cap dividend, offer scrip option

THE Monetary Authority of Singapore (MAS) on Wednesday called on local banks to cap their total dividends per share (DPS) for FY2020 at 60 per cent of the amount in the previous financial year, in a move to shore up capital amid the uncertain economic climate. ...

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