A digital currency? MAS is not convinced
THERE is no compelling reason for central banks to issue digital currencies, said managing director of the Monetary Authority of Singapore (MAS) Ravi Menon.
In about 4 yrs: Retail payments across Asean via mobile numbers
OVER the next four years or so, Singapore will work with other Asean countries to link up their real-time payment systems to enable small retail payments using just mobile numbers, with the link-...
Brick-and-mortar bid for Bank Permata by DBS 'conflicts' with digital focus: Citi
A REPORTED move by DBS to throw in a bid for Indonesia's Bank Permata, as OCBC is reportedly set to do, "conflicts" with Singapore banks' strategy of building out digital banking to capture...
Temasek seeks sane valuations from Asean 'aspiring unicorns'
TEMASEK Holdings is actively focused on "aspiring unicorns" out of South-east Asia, and expects to announce a couple of deals in the pipeline in the next few months, its senior executive told The...
Temasek aims to invest in a few more Asean 'aspiring unicorns' by year-end; Vietnam a key market
TEMASEK Holdings is actively focused on "aspiring unicorns" out of South-east Asia, and expects to announce a couple of deals in the pipeline in the next few months, its senior executive told The...
DBS partners taxman to digitalise stamp duty collection in Singapore
THE Inland Revenue Authority of Singapore (Iras) collected S$4.6 billion from stamp duties - a tax levied on property transactions - for the fiscal year ended March 31, with most taxpayers paying...
Digital banks may find it tough to win over consumers and deposits
WITH most consumers here unlikely to park more than S$20,000 in digital banks, and an expected high burn-rate for new entrants to nab credit-card users, the incumbent banks' earnings are not at...
Singtel edges out Grab in attracting deposits as digital banks: CGS-CIMB
MORE customers may be willing to park money with Singtel than Grab, a CGS-CIMB report showed, with the brokerage estimating that 4-11 per cent of deposits from the domestic banking unit are at...
New chapter in banking begins as applications open for digital banks
RIDE-HAILING firm Grab is "confident" of meeting the digital banking licence requirements that include "a path towards profitability" on a five-year projection, the unicorn told The Business Times...
Residents are targets for dirty money fronts in business friendly Singapore
THERE are thousands of corporate services firms in Singapore that offer Singapore residents as directors of Singapore-incorporated companies for as little as S$250 a month.