Singapore


Shanghai close to overtaking London as world’s second finance centre 

Shanghai close to overtaking London as world’s second finance centre 

New York has retained its position as the world’s top financial centre while London looks to be losing its grip on the second place it has held for some time – with several Asian centres just behind the UK capital.The latest Global Financial Centres Index (GFCI) shows London clinging on …

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Singapore urged to freeze accounts holding Myanmar reserves 

Singapore urged to freeze accounts holding Myanmar reserves

(ATF) Activists in Southeast Asia have called on the Singapore government to freeze accounts holding billions of Myanmar funds in local banks, in case the generals who seized power in the troubled Southeast Asian nation try to make further efforts to withdraw state reserves.The plea came after news emerged that …

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Finance and govt turn to blockchain solutions in Singapore

Finance and govt turn to blockchain solutions in Singapore

(ATF) Singapore’s Government Technology Agency (GovTech) and Ministry of Health say they have developed a 'globally interoperable' standard known as HealthCerts to verify Covid-19 test results – and speed up clearance through immigration checkpoints when travelling. HealthCerts is powered by blockchain-technology to issue legitimate digital documents such as vaccination certificates …

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Some tips and history for HKEX’s new chief

Some tips and history for Hong Kong Exchange’s new chief

(ATF) Earlier this month, Hong Kong Exchanges & Clearing announced that 52-year-old Argentine Nicolas Aguzin will succeed Charles Li as CEO of the world’s 5th largest stock exchange. Both executives share an American educational background – Li went to Columbia, Aguzin to Wharton – and both joined HKEX directly from …

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Myanmar coup: Did the generals fear losing their billions?

Myanmar coup: Did the generals fear losing their billions?

(ATF) Business and normal life in Myanmar is in disarray. Deep and widespread opposition to the coup imposed by the military at the beginning of the month has led to a nationwide civil disobedience movement that has disrupted major sections of the government and the economy.Services at many banks, public …

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Singapore slows the flow but still throws $8.31bn at Covid-hit economy 

Singapore slows the flow but still throws $8.31bn at Covid-hit economy 

Singapore is to keep the fiscal taps running for the time being to prop up its Covid-hit economy – but the further S$11 billion ($8.31 billion) set aside in Wednesday’s budget is a much smaller rescue package than previous ones.The island state’s Finance Minister Heng Swee Keat unveiled a budget …

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'London’s post-Brexit rivals should be Singapore and New York'  

'London’s post-Brexit rivals should be Singapore and New York'  

London's post-Brexit financial services industry must look to compete more with Singapore and New York rather than with leading EU centres, the head of British bank Barclays has said."I think what London needs to be focused on is not Frankfurt or Paris, it needs to be focused on New York …

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South-east Asia's Grab hoping US IPO move can deliver $2 billion 

South-east Asia's Grab hoping US IPO move can deliver $2 billion 

South-east Asian ride-hailing and food delivery giant Grab is exploring a listing in the United States this year.The firm have been encouraged by robust investor appetite for IPOs, a source has revealed, and the move could raise at least US$2 billion – which would make it the largest overseas share …

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DBS Group Holdings banking on digital assets exchange

DBS Group Holdings banking on digital assets exchange

DBS Group Holdings, South-east Asia's biggest bank, is to set up an exchange for digital assets, including cryptocurrencies.The DBS Digital Exchange will use blockchain technology to provide a platform for fundraising through asset tokenisation and secondary trading of digital assets, the bank said in a statement on Thursday.The tokenisation process …

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Davos is coming to Asia

Davos is coming to Asia

(ATF) The World Economic Forum (WEF) will hold its 2021 annual meeting in Singapore, instead of its usual venue of Davos in Switzerland. The shift is due to low Covid rates in Singapore and also marks an implicit acknowledgement of the growing importance of Asia in the global economy.“The change …

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