SINGAPORE (BLOOMBERG) – Goldman Sachs Group plans to add about 100 staff in Singapore, taking its headcount in the South-east Asian financial hub to a…
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Myanmar central bank to limit cash withdrawal from banks, ATMs
YANGON (BLOOMBERG) – The Central Bank of Myanmar is limiting cash withdrawals from banks and automated teller machines a month after the country’s military coup.…
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Malaysia's biggest bank warns of fake Maybank website used by scammers
PETALING JAYA (THE STAR/ASIA NEWS NETWORK) – Malaysia’s biggest bank, Maybank, has issued a warning to its users about a fake Maybank2u website that is…
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Morgan Stanley, Goldman lead bonus bounces for Asia bankers
HONG KONG (BLOOMBERG) – Morgan Stanley and Goldman Sachs investment bankers are getting the biggest bonus bumps among peers in Asia after revenue from the…
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Hiring of 200 staff for Grab-Singtel bank under way
A Grab-Singtel consortium, one of two successful applicants for a digital full bank licence, has already started hiring for around 200 positions in Singapore that…
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DBS, Standard Chartered to cut interest rates further on savings accounts
SINGAPORE – DBS Bank and Standard Chartered (StanChart) will cut already-low interest rates further on their savings accounts from next year. Singapore’s largest lender, DBS,…
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Most SMEs confident of meeting loan repayment obligations: Survey
Seven in 10 small and medium-sized enterprises (SMEs) affected by the pandemic are confident of meeting repayment obligations for government-backed loans next year without impacting…
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JPMorgan fined $1.26 billion for manipulating precious metals, treasury market
NEW YORK (BLOOMBERG) – JPMorgan Chase & Co admitted wrongdoing and agreed to pay more than US$920 million (S$1.26 billion) to resolve US authorities’ claims…
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US banks set aside billions as buffer against bad loans
NEW YORK (AFP) – Three major US banks have set aside an additional US$23 billion (S$32 billion) as a backstop against bad loans, highlighting the…
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India's about to hand people data Americans can only dream of
BANGALORE (BLOOMBERG) – India has more than 560 million internet users, all generating data by the terabyte. Soon they’ll have an unprecedented amount of control…
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Local banks to issue new notes for Chinese New Year 2020 from Jan 9
SINGAPORE – Banks in Singapore will usher in Chinese New Year 2020 by providing new Singapore dollar notes to customers for the festivities. DBS and…
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Another bidder emerges for Singapore digital bank licence
SINGAPORE (BLOOMBERG) – A consortium comprising Singapore-based fintech Advance.AI, Hong Kong-listed financial services firm Sheng Ye Capital and Singapore-based PhillipCapital is the latest known contender…
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China planning 'aircraft-carrier-size' investment banks
SHANGHAI • China is now on a mission to create “aircraft-carrier-size” investment banks to take on the giants of Wall Street. As the nation prepares…
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Fintech start-up abandons plans to bid for Singapore digital banking licence
SINGAPORE (BLOOMBERG) – Remittance start-up Nium – which recently rebranded from Instarem – has withdrawn from the contest for a Singapore digital wholesale banking licence, doubling down…
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