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SINGAPORE's position as a financial centre backing trade flows in emerging Asia speaks to the urgency of securing ample access to the greenback here, amid global dollar tightness in recent months.

UK-BASED payments fintech Revolut on Tuesday announced that it has appointed James Shanahan - previously the chief operating officer (COO) of insurtech Singapore Life - as its Singapore chief executive officer to lead the growth of its Asia business. 

DBS Bank has joined Contour's network, which is built on R3's Corda and digitalises global trade processes such as the creation, exchange, approval and issuance of letters of credit (LCs).

THE adoption of digital payments has been particularly rapid in Asean due to the region's young and highly-connected population. In the 2019 Citi and Imperial College's Digital Money Index, which tracks 84 countries and their digital money readiness, we saw five out of six Asean countries move...

SINGAPORE banks posted lower earnings in the first quarter after bulking up their provisions to cushion against economic stresses brought on by the virus outbreak, and against some of their oil-and-gas exposure.

OCBC'S group CEO Samuel Tsien expects cumulative credit costs to be between 100 to 130 basis points (bps) over the next two years - higher than during the global financial crisis (GFC) and similar to the Sars period.

THE Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) that took effect from May 4 against two former bank employees and two former insurance agents for fraudulent and dishonest conduct, it said on Friday.

SINGAPORE banks posted lower earnings in the first quarter after fattening their provisions to cushion against economic stresses brought on by the virus outbreak, as well as against some of their oil-and-gas exposure. 

OCBC’s net profit sank 43 per cent to S$698 million for its first quarter, dragged down by non-operating losses in its insurance unit and a surge in provisions due to its oil and gas exposure and the deteriorating macroeconomic environment from the Covid-19 pandemic.

DBS on Thursday launched a cashless purchasing card to allow logistics firms to settle payments and collections at container depots digitally.