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☆ Leaving the army to go corporate is a tough road to take. We asked 3 veterans how they survived and thrived.
▼ + stars: | 2024-04-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

The decision, Tan told BI, came to him after his aunt died. Tan told BI that he left the SAF without any job offers and had to rely on his savings while job hunting. But contextualizing the skills they'd picked up in the military and maintaining their resilience, the veterans told BI, was their key to success. I got to interact with new soldiers and helped to make their training more interesting," Tan told BI. Tan told BI that he spent six months taking courses before he landed his first full-time role in the private sector.

Persons: —, Tan, who'd, Tan wasn't, they'd, Jiahui Ong, Ong, Kwong Weng Yap, Yap, Jianhui Tan, Euromonitor, you'll, Adrian Choo, Choo Organizations: Service, Singapore Armed Forces, SAF, BI, Business, DBS Bank, DBS, Navy Locations: Australia

☆ We continue to like tech, but some 'value sectors' like energy will catch up, DBS says
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe continue to like tech, but some 'value sectors' like energy will catch up, DBS saysHou Wey Fook of DBS Bank says energy stocks are likely to make a "comeback."

Persons: Hou Organizations: DBS Bank

☆ How 'quiet luxury' is subtly taking over investor portfolios
▼ + stars: | 2024-01-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

So what is "quiet luxury"? Quiet Luxury's outperformance over Loud Luxury in 2023. "Hence, in 2023, quiet luxury companies notably outperformed their loud peers by 23% points. According to DBS, a company fall under its categorization of "quiet luxury" if it's understated and focused on high quality, while maintaining exclusivity and scarcity. Loud luxury not in vogue

Persons: Karin Teigl, Kelly, Baum, Jeremy Moeller, Miu Miu, Brunello, Hou Wey Fook, Hermes, LVMH Moët Hennessy Louis Vuitton, Markus Hansen, Hansen, Goldman Sachs, — Organizations: Getty, DBS Bank, Financière Richemont, Swatch Group, DBS, Richemont, Swatch, CNBC, U.S Locations: VIENNA, AUSTRIA, Asia, South Korea, Japan, India

☆ I left the military for the private sector. My time in uniform was one of the best experiences I've ever had.
▼ + stars: | 2024-01-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Ong, 26, served for five years before she left for the private sector. AdvertisementThis as-told-to essay is based on a conversation with Jia Hui Ong, who left the military to join the private sector. Joining the private sectorMy journey into the private sector wasn't a smooth ride. After transitioning to the private sector, I also had to find a new sense of purpose in my work. But spending time in the private sector has helped me redefine my interests and strengths.

Persons: Jia Hui Ong, Ong, —, jerry Organizations: Singapore Armed Forces, Service, SAF, ST Engineering, DBS Bank Locations: Singapore

☆ India's economy is in a 'sweet spot,' says DBS Bank
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's economy is in a 'sweet spot,' says DBS BankRadhika Rao of Singapore's largest lender discusses the country's strong economic performance, investment spending and consumption.

Persons: Radhika Rao Organizations: DBS

☆ India's economy is in a 'sweet spot,' but private consumption growth may continue to slow: DBS Bank
▼ + stars: | 2023-12-01 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

India's economy is in a "sweet spot," but growth in private consumption is expected to slow further, Radhika Rao, senior economist at DBS Bank said. India's GDP expanded by 7.6% during the July to September quarter as a result of stronger manufacturing activity and government spending, beating Reuters poll estimates of 6.8%. Even though it was lower than the 7.8% expansion during the April to June quarter, the country's growth is "one of the strongest in the region among major economies" and DBS expects the GDP to expand around 6.8% this year, Rao said on CNBC's "Squawk Box Asia" on Friday. She highlighted that the slowdown in consumption activity during the July to September quarter, which will likely continue through the winter, was owed to weak farm production in the summer months due to erratic weather. Although household consumption is likely to have picked up during the October to December quarter due to festivals including Diwali, it could fall again in the January to March quarter ahead of the 2024 general elections, Rao warned.

Persons: Radhika Rao, Rao Organizations: DBS Bank, DBS

☆ Bank Indonesia to maintain key rate at 6.00% until at least mid-2024
▼ + stars: | 2023-11-21 | by ( Susobhan Sarkar | ) www.reuters.com time to read: +2 min

BENGALURU, Nov 21 (Reuters) - Bank Indonesia (BI) will leave its key policy rate unchanged at 6.00% on Thursday and likely keep it at that level until at least mid-2024, according to a Reuters poll of economists in which a few respondents still expected another rate hike. "Bank Indonesia is likely to keep rates unchanged this month. In a Nov. 14-20 Reuters poll, a strong majority of economists, 27 of 31, expected Indonesia's central bank to keep its benchmark key interest rate (IDCBRR=ECI) unchanged at 6.00% on Thursday. While 12 of 28 put the key rate at 6.00% at the end of June, five had a 6.25% forecast and three had 6.50%. "Our base case is for the first BI rate cut in Q3 2024 ...

Persons: Radhika Rao, Brian Lee Shun Rong, Susobhan Sarkar, Veronica Khongwir, Milounee Purohit, Paul Simao Organizations: Bank Indonesia, Bank, greenback, U.S . Federal, U.S ., DBS, Reuters, Maybank, Thomson Locations: BENGALURU, Asia's, Bank Indonesia

☆ Thailand's economy is slowing, and it could mean trouble
▼ + stars: | 2023-11-21 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Thailand's economy grew at its slowest pace in almost a year in the third quarter, and analysts say the trend is here to stay. Thailand's gross domestic product grew 1.5% year-on-year for the quarter ending September, official data on Monday showed. That's far below expectations of 2.4% by economists polled by Reuters, and lower than the 1.8% expansion in the second quarter. The reading marked the second straight quarter of easing growth in Thailand's economy. After months of political deadlock and stock market volatility, Srettha Thavisin was elected Thailand's prime minister in late September, amid expectations from economists that long-term economic recovery could prove challenging.

Persons: Chua Han Teng, Thavisin Organizations: Reuters, DBS Bank

☆ India debate on 70-hour workweek: Illegal or road to greatness?
▼ + stars: | 2023-11-07 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +2 min

Indians currently work an average of 47.7 hours a week, according to the International Labour Organization. Infosys founder Narayana Murthy recently sparked a controversy on social media when he said young people should be working 70 hours a week to boost India's economy. If we want to achieve greatness, then yes, those are the number of hours and the kind of sacrifices we must make," Kapoor said. Our youngsters must say: 'This is my country, I want to work 70 hours a week,'" he said during a podcast with Indian philanthropist T.V. He told CNBC that "70 hours just sounds like a very high number.

Persons: Narayana Murthy, Ayushmaan Kapoor, Kapoor, Murthy, Rishi Sunak, T.V, Mohandas Pai, Vivek Mudaliar, Mudaliar, wouldn't Organizations: International Labour Organization, Infosys, CNBC, U.S, UK, Reliance Industries, DBS Bank, HSBC Locations: India, China, U.S, Germany, Singapore, Japan

DBS, which is also Southeast Asia's largest lender, has already forecast a record full-year profit for the current year. "Net profit (for 2024) to be maintained around record 2023 level," CEO Piyush Gupta said in results presentation materials. The bank's July-September net profit rose to S$2.63 billion ($1.94 billion) from S$2.24 billion a year earlier as total income grew to a record on higher interest margins and fee income. Besides higher global interest rates, Singapore banks have benefitted from strong inflows of wealth drawn in by the city-state's political stability. Smaller peer United Overseas Bank (UOBH.SI) reported in end-October a weaker-than-expected 1% drop in third-quarter net profit.

Persons: Ann Wang, Piyush Gupta, Gupta, Yantoultra Ngui, Josie Kao Organizations: DBS, REUTERS, Bank, Q3 SINGAPORE, LSEG, United Overseas Bank, Chinese Banking Corp, Thomson Locations: Taipei, Taiwan, Singapore

☆ Analyst discusses HSBC's third-quarter results
▼ + stars: | 2023-10-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst discusses HSBC's third-quarter resultsManyi Lu of DBS Bank in Hong Kong discusses HSBC's third-quarter results and the outlook for its share prices.

Persons: Manyi Lu Organizations: DBS Bank Locations: Hong Kong

An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo Acquire Licensing RightsSept 29 (Reuters) - Oil prices settled 1% lower on Friday due to macroeconomic concerns and profit taking, but rose about 30% in the quarter as OPEC+ production cuts squeezed global crude supply. U.S. West Texas Intermediate crude (WTI) settled down 92 cents to $90.97, up 1% in the week and 29% in the quarter. While the total rig count fell by 51 in the third quarter, the cuts have slowed compared with a reduction of 81 in the second quarter as oil prices have rebounded due to tightening supplies. The supply cuts announced by Saudi Arabia and Russia are expected to dominate oil prices for the remainder of this year.

Persons: Ahmed Jadallah, Brent, WTI, John Kilduff, Lael Brainard, Baker Hughes, Suvro Sarkar, Robert Harvey, Katya Golubkova, Sonali Paul, Mark Potter, Paul Simao, Jan Harvey, David Gregorio Our Organizations: REUTERS, . West Texas, Federal Reserve Bank of Dallas, Energy Information Administration, Investors, White, Evergrande, HK, Reuters, Aramco, National Australia Bank, DBS Bank, Thomson Locations: Aramco, Saudi, Saudi Arabia, New York, U.S, Brent, OPEC, Russia

☆ TikTok's Southeast Asia ambitions to take a major hit with Indonesia ban
▼ + stars: | 2023-09-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Aditya Aji | Afp | Getty ImagesTikTok's Southeast Asian ambitions will take a major hit after Indonesia bans shopping transactions on social media apps, analysts told CNBC. Indonesia has banned e-commerce transactions on social media platforms such as TikTok Shop and Facebook . Even if it can secure a separate license to operate, operating as a standalone app may still be challenging. "Even if it can secure a separate license to operate, operating as a standalone app may still be challenging," said Mittal. New social media rulesOn Saturday, Indonesia's President Joko Widodo called for social media regulations, saying such platforms impact micro-, small- and medium-sized companies and the economy.

Persons: Aditya Aji, Jonathan Woo, Sachin, Sachin Mittal, TikTok, Mittal, Joko Widodo Organizations: Facebook, Afp, Getty, CNBC, Phillip Securities Research, Sachin Mittal DBS Bank, U.S, DBS Bank, BMI, Momentum Works Locations: Bogor, West Java, Indonesia, Jakarta, China, Southeast Asia, U.S, Singapore, Montana, India

☆ A 20-year-old 'stay-at-home daughter' says 'girl math' means her $2,900 Cartier earrings are basically free
▼ + stars: | 2023-09-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

A woman in Singapore claims "girl math" means her Cartier earrings are basically free. "Anything is possible with girl math," Liem told The Straits Times. In her video, Liem said she is a "stay-at-home daughter" and that her father is an investor. AdvertisementAdvertisement"Anything is possible with girl math," Liem said to The Straits Times. She added that girl math, to her, could mean buying extra things to get free shipping, adding that people often justify exorbitant purchases.

Persons: Cartier, Chloe Liem, Liem, I'd, Van, Lorna Tan Organizations: Straits Times, Service, TikTok, The Straits Times, DBS Bank Locations: Singapore, Wall, Silicon

☆ Japan's yen takes the spotlight in central bank week
▼ + stars: | 2023-09-18 | by ( Vidya Ranganathan | ) www.reuters.com time to read: +4 min

The Bank of Japan's policy meeting on Friday is the highlight of the week in Asia, after Governor Kazuo Ueda stoked speculation of an imminent move away from ultra-loose policy. The yen was flat versus the greenback between 147.63 and 147.88 per dollar, with markets in Japan closed for a national holiday. "Anticipation of new BOJ rate guidance could support the yen into the meeting date, with the FOMC meeting also contributing to volatility this week," Chang said. The European Central Bank raised interest rates to 4% last week but said this hike could be its last. Futures are pricing in almost no chance that the Fed raises interest rates at the end of its two-day meeting next Wednesday.

Persons: Yen, Dado Ruvic, Kazuo Ueda, That's, Carol Kong, Kong, Ueda, Wei, Liang Chang, Chang, Sterling, Lincoln Organizations: REUTERS, Rights, U.S, The, of, U.S . Federal, Bank of, Commonwealth Bank of Australia, DBS Bank, European Central Bank, Japan, . U.S, Treasury, The Bank of England, Brent, Saudi, Global, Thomson Locations: Rights SINGAPORE, Asia, Bank of England, Japan, ., U.S, Ukraine

Bank Indonesia's logo is seen at its headquarters in Jakarta, Indonesia, January 17, 2019. Bank Indonesia (BI) plans to issue new rupiah-denominated securities, using its holdings of government bonds as the underlying asset, as a new monetary instrument aimed at attracting foreign portfolio capital flows, Governor Perry Warjiyo said. BI kept the benchmark 7-day reverse repurchase rate (IDCBRR=ECI) at 5.75% for its seventh straight monthly policy review, as widely expected by economists surveyed by Reuters. Guarding the rupiah "is our way to protect the domestic economy, inflation and growth from global spillovers," Warjiyo told reporters. Inflation slowed in July to 3.08%, roughly the midpoint of the central bank's 2% to 4% target range.

Persons: Willy Kurniawan, Perry Warjiyo, Warjiyo, Radhika Rao, Shivaan Tandon, Bank Danamon, Fransiska Nangoy, Bernadette Christina Munthe, Stefanno Sulaiman, Ananda Teresia, Gayatri Suroyo, Martin Petty, Kim Coghill, Kirsten Donovan Organizations: REUTERS, Bank Indonesia, BI, Reuters, Securities, U.S, Treasury, DBS Bank, Capital Economics, Bank, Thomson Locations: Jakarta, Indonesia, JAKARTA, Asia's, China

☆ Singapore's Grab says its ride-hailing unit is on track to hit pre-Covid levels by the end of the year
▼ + stars: | 2023-08-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Photographer: Ore Huiying/Bloomberg via Getty Images Ore Huiying | Bloomberg | Getty ImagesSingapore-based Grab said on Wednesday that its ride-hailing unit is on track to hit pre-Covid levels by the end of this year. Grab, which also offers food delivery and mobile payments, said that its mobility GMV has recovered to 85% of pre-Covid levels. We remain on track to exit 2023 at pre-Covid GMV levels. "We remain on track to exit 2023 at pre-Covid GMV levels," Oey said during Grab's earnings call on Wednesday. Grab's Hungate said driver supply levels are currently at 84% of pre-Covid levels and that the firm will "continue to focus on improving driver supply."

Persons: Alex Hungate, Peter Oey, Oey, GrabShare, Sachin Mittal, Grab's Hungate, Kai Wang, Jonathan Woo, Woo Organizations: Grab Holdings, Bloomberg, Getty, Getty Images, CNBC, DBS Bank, DBS, Trans, Morningstar Asia, Revenue, Phillip Securities Research Locations: Singapore, Getty Images Singapore, Malaysia, Thailand, Grab's U.S

☆ Sea pivoted to growth over profits as it faced rising competition from TikTok, Lazada, analysts say
▼ + stars: | 2023-08-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

But analysts said the pivot is a move to defend market share. Defending your market share is the right strategy in e-commerce. CEO Shou Zi Chew said in June that TikTok would invest billions of dollars in Southeast Asia over the next few years to gain market share. Sea's decision to accelerate ecommerce investments in growth is likely to materially weigh on its earnings and share price in the near-term. "Sea's decision to accelerate ecommerce investments in growth is likely to materially weigh on its earnings and share price in the near-term," said JPMorgan.

Persons: Forrest Li, GoTo, Sachin Mittal, Woo, Li, JPMorgan, Jonathan Woo, Shou Zi Chew, TikTok, Alibaba's Lazada, Sea's Shopee, Lazada's GMV Organizations: Sea Ltd, Bloomberg, Getty, Local, DBS Bank, Phillip Securities Research, JPMorgan, Momentum Works Locations: Singapore, Lazada, Southeast Asia

☆ Sea Group's gaming segment has again proven to be a 'cash cow,' DBS Bank says
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSea Group's gaming segment has again proven to be a 'cash cow,' DBS Bank saysSachin Mittal, head of telecom, media and technology research at DBS Bank, said that Garena saw quarterly paying users growing on a sequential basis.

Persons: Sachin Mittal, Garena Organizations: DBS Bank

☆ India rate panel to dial up hawkishness even as it holds policy steady
▼ + stars: | 2023-08-08 | by ( Swati Bhat | ) www.reuters.com time to read: +3 min

A woman walks past the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 6, 2023. A July 13-31 Reuters poll of 75 economists showed the central bank was expected to keep its repo rate unchanged at 6.50% at its Aug. 10 policy meeting. The rise in food prices, however, has been sharper than expected this year and is seen lasting longer. The MPC at its June policy meeting also reiterated its intent of nudging inflation towards its medium-term target of 4% and not just holding it below 6%. "It will also possibly emphasise a larger need to be watchful of the second-round effects of high food prices and inflation expectations."

Persons: Francis Mascarenhas, Shah, Pankaj Pathak, Swati Bhat, Sharon Singleton Organizations: Reserve Bank of India, REUTERS, MPC, Capital Economics, DBS Bank, DBS, ANZ, U.S, Fed, AMC, Thomson Locations: Mumbai, India, MUMBAI

On a quarterly, non-seasonally adjusted basis, GDP expanded 3.86%, compared with the poll's prediction of 3.72% growth. Meanwhile, exports contracted 2.75% in the second quarter on a yearly basis, in stark contrast to last quarter's growth of more than 10%. Myrdal Gunarto, economist with Maybank Indonesia, said he might raise his bank's full-year 2023 GDP growth outlook of 5.05%, but described the second quarter data as "a sign that economic activities had peaked". The better-than-expected data may spur monetary policymakers to shift their focus from growth to the current account, as strong domestic demand typically leads to rising imports, said Fakhrul Fulvian, economist with Trimegah Securities, who maintained his full-year 2023 GDP growth outlook at 5%. The government is targeting the same growth rate for 2023.

Persons: Eid, Joko Widodo's, Myrdal Gunarto, Myrdal, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska Nangoy, Gayatri Suroyo, Martin Petty, Sonali Paul Organizations: Asia's, Statistics, Reuters, Maybank, Trimegah Securities, U.S ., Bank, DBS Bank, Thomson Locations: JAKARTA, Statistics Indonesia, Maybank Indonesia, Indonesia, Bank Indonesia

☆ Food delivery apps Grab and Foodpanda expand into dine-in services as explosive growth stalls
▼ + stars: | 2023-08-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Bryan van der Beek | Bloomberg | Getty ImagesSINGAPORE — Singapore-based food delivery apps Grab and Foodpanda are expanding into the dine-in space, as consumers look to eat out more post-pandemic. Foodpanda was the first food delivery companies in Singapore to introduce dine-in features in 2021. Food delivery is currently still Foodpanda's largest business, followed by grocery delivery, he said. In June, food delivery service AirAsia Food launched dine-in services in collaboration with restaurant reservation platform eatigo. Food delivery apps want to help [restaurants] get some business in terms of dining in and booking.

Persons: Bryan van der Beek, Bernstein, Foodpanda, Jakob Sebastian Angele, Jonathan Woo, Phillip Securities Research Angele, TabSquare, Jein, GrabFood's, Tay, Woo, Sachin Mittal Organizations: Central Business District of Singapore, Bloomberg, Getty, SINGAPORE —, CNBC, Phillip Securities Research, AirAsia Food, DBS Bank Locations: SINGAPORE, SINGAPORE — Singapore, Singapore, Thailand, Indonesia, Malaysia, Philippines, Vietnam, Hong Kong, Pakistan, Bangladesh, Asia Pacific

☆ Short-term impact of Fitch Ratings' U.S. downgrade will be 'minimal,' DBS Bank CEO says
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShort-term impact of Fitch Ratings' U.S. downgrade will be 'minimal,' DBS Bank CEO saysPiyush Gupta, CEO of the Singapore bank, discusses Fitch Ratings' decision to downgrade the United States' long-term foreign currency issuer default rating to AA+ from AAA.

Persons: Piyush Gupta, Fitch Organizations: Fitch, DBS Bank, AAA Locations: Singapore, States

☆ DBS Bank explains why it likes Amazon and Sea Limited
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDBS Bank explains why it likes Amazon and Sea LimitedSachin Mittal of the Singapore bank says there is no major threat to Amazon, and adds that it's bullish on Sea Limited despite competition from TikTok in Southeast Asia.

Persons: Sachin Mittal Organizations: DBS Bank, Sea, Sea Limited Locations: Singapore, TikTok, Southeast Asia

☆ Gold, private assets, stocks and bonds make up a very 'resilient' portfolio, DBS CIO says
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold, private assets, stocks and bonds make up a very 'resilient' portfolio, DBS CIO saysHou Wey Fook of DBS Bank shares his view on investing in AT1 bonds, gold and alternative investment.

Persons: Hou Organizations: DBS, DBS Bank

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