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Indian companies' overseas investment fell 35% in February 2021, says RBI

According to banking data, India Inc's overseas direct investment fell by 31% to USD 1.85 billion in February this year.

Global

Singapore's DBS Bank plans to scale down India branches over next 2-3 years

Singapore-based DBS Bank plans to scale down its network of 600 branches in India over the next two-three years following its recent merger...

Global

Grab-Singtel consortium's digital bank to provide transparent financial services to underserved groups

The Grab-Singtel consortium aims to formally launch its digital bank focusing on serving consumers and small businesses in early 2022.

Corporate

Chennai-based Lakshmi Vilas Bank merges with DBS unit

Chennai-headquartered Lakshmi Vilas Bank (LVB) has been merged with DBS Bank India from November 27, 2020.

Corporate

Non-bank financial institutions in Singapore can connect directly to PayNow and FAST from February 2021

NFIs that are licenced as major payment institutions under the Payment Services Act will be allowed to connect directly to FAST and PayNow...

Corporate

DBS launches online tracking for cross-border payments in Asia's first

More than 240,000 DBS corporate and SME clients in Singapore and Hong Kong will be the first to benefit from the service at no additional...

Corporate

Pramod Mittal, brother of UK steel tycoon Laxmi Mittal, claims losses of GBP 2.5 bn in bankruptcy

Industrialist Pramod Mittal, the younger brother of UK-based steel magnate Lakshmi Mittal, has claimed that he owes GBP 2.5 billion pounds....

UK

DBS named world's best bank for 3rd year running

For the third year running, DBS has been recognised as the World’s Best Bank by New York-based financial publication Global Finance at its...

Singapore

DBS reports 26% lower net profit for 2020H1, as general allowances of SGD 1.26 billion conservatively set aside

DBS Group reported a net profit of SGD 2.41 billion for the first half of 2020 – 26 per cent lower than a year ago.

Corporate

OCBC customers can use SingPass for ibanking login in Singapore's first

OCBC’s 1.8 million digital customers in Singapore are now able to use SingPass Mobile app as an alternative login to access the full suite...

Singapore

Financial institutions should strengthen safe distancing measures: MAS

Financial Institutions in Singapore have been asked to actively encourage all customers to use electronic platforms (such as online or...

Covid-19

Asian Development Bank opens new office in Singapore

The new space signifies deepening efforts to collaborate on some of the most pressing development challenges facing Asia and the Pacific.

Singapore

DBS reports record SGD 6.39 billion profits for 2019

DBS fourth-quarter earnings increased 14 per cent to SGD 1.51 billion.

Singapore

SMEs in Singapore to focus on productivity in 2020: UOB survey

One of the ways SMEs are planning to achieve their productivity goals is to increase their investments in technology.

SMEs

Maybank Kim Eng cuts 5 per cent of Singapore manpower

Maybank Kim Eng has reduced 5 per cent of its manpower in Singapore amid stiff competition from fintech firms, according to news reports.

Corporate

Singapore central bank to issue digital bank licences

The move extends digital bank licences to non-bank players.

Singapore

Indian bank manager charged for using fake signature to embezzle money in Dubai

The Court of First Instance in Dubai has charged a former Indian bank manager with embezzling more than AED120,000 from a customer’s...

UAE

NRI loses ancestral jewellery as bank locker ransacked

If you think that bank lockers are the safest place for your valuables, then think again! An NRI from Singapore has alleged that his gold...

Global NRI Stories

Bank of Singapore ties up with Edelweiss Group to capitalise on India’s wealth

Bank of Singapore has tied up with India’s largest financial service provider Edelweiss Group to allow clients of both entities to access...

Singapore

StanChart Appoints New Head Of Global Banking In Singapore

Standard Chartered Bank announced yesterday that it has hired Chow Wan Thonh as its head of global banking, Singapore. She will report to...

Singapore

DBS to double staff in Dubai to tap wealth of Middle East businessmen and rich NRIs

In order to capitalise on the growing wealth of Middle East businessmen and rich Non-Resident Indians, DBS plans to almost triple its...

UAE

DBS CEO Piyush Gupta says fears about US-Sino trade war "somewhat overblown" for now

The fears surrounding the impact of the United States-China trade war are “somewhat overblown” for now, said Piyush Gupta, Chief...

Corporate

Indian govt thinking of dollar deposit scheme for NRIs to halt Rupee's fall

Trying to arrest the continued slide of the Indian rupee, the nation's government is reportedly considering a dollar deposit scheme for...

Global

MAS warns of fraudulent website soliciting bitcoin investments

The fraudulent site asks readers to sign up for a Bitcoin account and requests for credit card or bank account details.

Singapore

OCBC apologises for software failure that caused outage for 3-4 hours

OCBC said the incident was due to a software failure that was not detected "due to a human oversight".

Corporate