UOB has projected for credit costs to reach 90 to 100 basis points (bps) as its worst-case scenario, as the lender braces for further downside amid the virus fallout.
GENTING Singapore on Tuesday announced that it has cut the salaries of senior management and managerial staff by 9 to 18 per cent as part of cost control measures amid the Covid-19 pandemic.
SINGAPORE Airlines (SIA) on Tuesday announced a fresh round of flight cuts as the airline industry takes a further beating from new travel restrictions amid the virus fallout.
SINGAPORE has further tightened border controls to contain the import of Covid-19 into the country.
SINGAPORE banks have guided on the size of provisions that can cover the impact from the Covid-19 outbreak ahead, but analysts say the lenders may have to stomach more if the disruption to supply...
DISRUPTIONS to regional supply chains amid the Covid-19 outbreak have bumped costs up by almost 20 per cent for some traders and distributors as they scramble to find alternative suppliers outside...
AS THE Covid-19 outbreak continues to rattle the region, Singapore banks have stepped in with relief measures to help businesses and retail customers.
DBS on Wednesday confirmed that one employee working at the bank's main Marina Bay Financial Centre (MBFC) office has been infected with the novel coronavirus.