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OCBC offers fixed deposit placements for CPF ordinary account savings at 3.4% a year

COMPETITION for cash has gone beyond the savings in customers’ bank accounts, OCBC is now asking Central Provident Fund (CPF) members to place their ordinary account savings for fixed deposit at 3.4 per cent per annum.

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DBS opens representative office in Bangladesh

DBS on Wednesday (Nov 16) said it will open a representative office in Dhaka, Bangladesh and has appointed Tahsina Banu as chief representative.

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JPMorgan seeks to grow in buyouts after rivals lost billions

JPMORGAN Chase & Co is on the hunt for buyouts to lend to and is hoping to gain market share in leveraged financing after avoiding the dozens of clunkers that have cost competitors billions of dollars.

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Purpose-bound money, still searching for its purpose

AT the recent Singapore Fintech Festival (SFF), I bought lunch for myself using some digital Singapore dollars. The experience was rather underwhelming – it reminded me of the process of using the digital Community Development Council (CDC) vouchers, except it was more unwieldy.

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Pound surges past US$1.20 as fresh data adds to dollar slump

The pound climbed to its strongest level in three months against the dollar, as fresh data added to evidence that the pace of price growth in the US may have peaked.

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Regulators need to stay agile to control risks that come with fintech innovation: panel

Regulators need to stay agile and leverage experiences to control the risks that will naturally arise from innovations in the financial-services space, panellists at the Abu Dhabi Finance Week 2022 said on Tuesday (Nov 15).

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Euro, sterling and Swedish krona jump 1% after slew of economic data

The euro, sterling and the Swedish krona rose sharply against the US dollar on Tuesday (Nov 15) as traders assessed a slew of economic data, including UK and eurozone job figures, plus German economic sentiment.

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Innovation is two-way street between fintechs and traditional banks, say panellists

Innovation in the financial-services space is not just the work of fintech start-ups, but can also arise from the collaboration between these fintech players and traditional banks, said the chief executive of a bank in the United Arab Emirates (UAE) on Tuesday (Nov 15).

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Foreigners offload Chinese bonds for 9th straight month in Oct

Overseas investors sold their holdings of China’s onshore bonds for a ninth straight month in October, albeit at a slower pace, as interest rate differentials between China and the United States continued to drive foreigners away.

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Russia in ‘no hurry’ to lower inflation: central bank chief

RUSSIA’S central bank is trying to gradually lower inflation, but is in no hurry to do so, its chief said on Tuesday (Nov 15).

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