WIRECARD SCANDAL

Singapore Wirecard merchants scramble to jump ship

SINGAPORE merchants that use Wirecard to process payments are quickly switching to the beleaguered fintech's competitors, spooked by the downfall of the Wirecard parent that has collapsed into insolvency.

GE2020

Automatic recount if difference in votes is 2% or less; special voting hour for those serving stay-home notice

FOR the July 10 General Election, there will be an automatic recount if the difference in the number of votes between the top candidate and any other candidate is 2 per cent or less, the Elections Department (ELD) said in a statement on Wednesday.

Automatic recount if difference in votes is 2% or less; special voting hour for those serving stay-home notice

FOR the upcoming General Election on July 10, there will be an automatic recount if the difference in the number of votes between the top candidate and any other candidate is 2 per cent or less, according to the latest statement by the Elections Department on Wednesday.

GE2020: PAP's Sun Xueling to face WP's Tan Chen Chen in Punggol West SMC

MEMBER of Parliament (MP) Sun Xueling of the incumbent People's Action Party (PAP) will be facing newcomer Tan Chen Chen of the Workers' Party (WP) at the polls for the newly-carved out Punggol West SMC.

GE2020: Three-way fight in Pasir Ris-Punggol GRC

THE incumbent People’s Action Party team in Pasir Ris-Punggol GRC will be squaring off against the Singapore Democratic Alliance (SDA) and Peoples Voice (PV) parties in a three-cornered fight.

GE2020

WP proposes SME bank, redundancy insurance in election manifesto; unveils final four candidates

A DEDICATED bank to help finance small and medium-sized enterprises' (SMEs) expansion overseas, minimum wage and redundancy insurance were among the proposals in the Workers' Party (WP) election manifesto unveiled on Sunday.

WP proposes SME bank, redundancy insurance in its manifesto

WORKERS’ Party (WP) secretary-general Pritam Singh warned that there is a “real risk” of a wipe-out of elected opposition members of parliament (MPs) at the upcoming elections as he unveiled WP’s election slogan and manifesto on Sunday.

WP unveils fourth and final slate of candidates, with one new face

HELPING the vulnerable and fostering healthy debate are some of the key priorities of the Workers’ Party’s (WP) fourth and final batch of candidates unveiled on Sunday for the upcoming General Election.

MAS proposes guidelines to manage environmental risk

BUSINESSES which do not manage their environmental risk adequately could find themselves facing higher borrowing costs or limits on their loans down the road, if the proposed guidelines released by the Monetary Authority of Singapore (MAS) on Thursday are implemented.

MAS proposes guidelines for financial institutions to manage environmental risk

BUSINESSES which do not manage their environmental risk adequately could find themselves facing higher borrowing costs or limits on their loans down the road, if the proposed guidelines released by the Monetary Authority of Singapore (MAS) on Thursday are accepted and implemented.

Wirecard must keep customer funds from Singapore business in banks here: MAS

BELEAGUERED payments provider Wirecard is required to keep customer funds arising from its Singapore business activities in banks here, said the Monetary Authority of Singapore (MAS) in a statement on Tuesday.

Wirecard required to keep customer funds from Singapore business activities in banks here: MAS

THE Monetary Authority of Singapore (MAS) said in a statement on Tuesday that it has required scandal-hit payments provider Wirecard to ensure that it keeps customer funds arising from its business activities here in banks in Singapore.

BT EXCLUSIVE

Oil trading troubles could jack up borrowing costs

THE collapse in oil prices and the Covid-19 outbreak are exposing questionable practices in the Singapore oil trading industry that could exact a heavy toll on borrowing costs as banks get burnt.

VIRUS OUTBREAK

Resilient supply chains come from greater connectivity: MAS chief

COUNTRIES should resist the temptation to retreat behind respective borders, even as Covid-19 has revealed how dependent - and vulnerable - countries are on global supply chains, said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) on Monday.

Keeping supply chains open is one key global priority in the wake of Covid-19: MAS chief

COUNTRIES should resist the temptation to retreat behind respective borders, even as Covid-19 revealed how dependent – and vulnerable – countries are on global supply chains, said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) on Monday.

OCBC, riding growth wave, targets S$25b sustainable finance portfolio by 2025

OCBC Bank says it is aiming to expand its sustainable finance portfolio to S$25 billion by 2025, riding growth momentum that is expected to continue over the next few years despite Covid-19.

Crisis call: Singapore business leaders on managing in the pandemic

LIKE many others on Monday, business leader Pang Fu Wei rejoiced at the news of the earlier-than-expected opening of shops in Singapore after almost three months of closure.

HSBC Singapore spared bank's global layoffs this year

HSBC Singapore will not be affected this year by the bank's global redundancy plan that would impact 35,000 staff in the medium term, The Business Times understands, with minimal cuts in headcount expected here over the next few years.

HSBC Singapore will not be affected by layoffs this year

HSBC Singapore will not be affected this year by the bank’s planned global redundancies that would impact 35,000 staff in the medium term, according to sources close to the matter.

AMTD Group to take majority stake in CapBridge

HONG Kong's AMTD Group is ramping up its presence in Singapore, following its subsidiary's recent dual listing here and digital bank ambitions.

AMTD to take majority stake in private capital platform CapBridge

AMTD Digital, the integrated digital platform arm of AMTD Group, announced on Monday that it will take a majority stake in private capital platform CapBridge Financial for an undisclosed sum.

NEWS ANALYSIS

Will DBS' fixed-rate mortgage move be enough to keep its lead?

SINGAPORE'S biggest mortgage player DBS is still not going down the well-trodden path of actively offering home loans linked to the Singapore interbank offered rate (Sibor) - though the fall in Sibor could lure customers away from its flagship product, which is tied to the bank's fixed deposit...

CIMB drops mortgage floor rate hike after customer furore

CIMB Bank Singapore is backtracking on its intended mortgage floor rate hike, following pushback from incensed customers who have banded together to challenge the bank's earlier decision.

CIMB Bank Singapore U-turns on mortgage floor rate hike after customer uproar

CIMB Bank Singapore is backtracking on its intended mortgage floor rate hike, following pushback from incensed customers who have banded together to challenge the bank’s earlier decision.

Non-resident deposits in Singapore jump 44% to record S$62b in April

SINGAPORE saw a record jump in deposits in April as investors rushed to park funds here given its status as a safe haven amidst global market volatility, said analysts.