Featured

SINGAPORE saw the largest rise in digital banking investments in response to Covid-19, as financial institutions dole out bigger budgets to boost their digital offerings, a recent global study by Finastra showed.

UOB announced on Thursday that it has received approval from bondholders to convert the interest rate benchmark for its £350 million (S$650.4 million) floating rate covered bonds due 2023 from sterling London Interbank Offered Rate (Libor) to the compounded daily Sterling Overnight Interest Rate Average (Sonia).

UOB announced on Thursday that it has received approval from bondholders to convert the interest rate benchmark for its £350 million (S$650.7 million) floating-rate covered bonds due 2023 from sterling London Interbank Offered Rate (Libor) to the compounded daily Sterling Overnight Interest Rate Average (Sonia).

SHARES of both Singtel and iFast Corporation rose on Thursday morning after the two mainboard-listed companies each announced their applications for a digital bank licence in Malaysia.

SINGTEL has applied for a digital bank licence in Malaysia through its joint venture with Grab, together with a consortium of other investors, announced Singapore's largest telco on Thursday.

WITH one digital bank licence already in the bag, the Grab-Singtel venture is expected to contend for more such licences across Asia as part of its regional expansion play, analysts say.

ANALYSTS expect the Monetary Authority of Singapore (MAS) to soon ease its current dividend restrictions on local banks, given their strong capital levels and earnings, but cautioned that there is still ongoing economic uncertainty that could weigh on the central bank's decision.

A FIRMER global recovery is on the cards in the second half of 2021 with the world's two largest economies - the United States and China - witnessing strong rebounds, but downside risks remain significant, said a top executive from the Monetary Authority of Singapore (MAS).

SOME pioneer members of Laguna National who hold 30-year-old debentures and are owed money from them, may mount a legal case against club owner Peter Kwee and the club.

BANK lending in Singapore rose for the seventh straight month in May, growing 0.2 per cent as business loans picked up and housing loans held steady.