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☆ Singapore private housing prices cool, ending an over year-long rally
▼ + stars: | 2024-10-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Singapore's private home prices fell for the first time in five quarters amid depressed sales, preliminary market data showed on Tuesday. The data released by the Urban Redevelopment Authority showed that its private home price index fell 1.1% last quarter as compared to the previous three months. The fall reversed gains from the second quarter and represented the index's first drop since the second quarter of 2023. In total, prices were up only 1.1% in the first three quarters of 2024 compared with a 3.9% gain over the same period the prior year. Sales transaction volume also fell by about 11% in the third quarter from the previous three months.

Organizations: Urban, Authority

☆ I interned at a hedge fund when I was 16. It was the smartest decision I made as a teen, and it set me on the path to a career in finance.
▼ + stars: | 2024-09-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Yi Ke Cao did her first internship at a hedge fund when she was 16. Joining a hedge fund as their youngest internUnexpectedly, an opportunity to intern at a hedge fund came to me when I was 16. That was when I chanced upon a two-week stint with a Singapore-based hedge fund, Modular Asset Management. Getting over my imposter syndromeCao spent two weeks interning at Modular Asset Management, a hedge fund based in Singapore. Interning at the fund as a 16-year-old was a pivotal moment in my career developmentLooking back, interning at the hedge fund was a pivotal moment in my life.

Persons: Yi Ke Cao, Cao, —, Interning, interning Organizations: Service, Singapore's Nanyang Technological University, Asset Management, Modular Asset Management Locations: Singapore

☆ Two major deals coming soon may help jumpstart the IPO market
▼ + stars: | 2024-09-27 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The company is seeking to sell 60 million shares at a price range of $20 to $23 per share. StandardAero previously filed to offer 46.5 million shares at the same $20 to $23 per share range. StandardAero will be a large IPO, likely raising about $1.3 billion at the midpoint. The IPO raise has been sub-par for three years running. IPO watchers note childcare provider KinderCare and digital health marketplace company Solera both could raise $500 million or more.

Persons: Safran, StandardAero, Carlyle, IPOs, StubHub Organizations: Dow Jones, Cerebras, StandardAero, New York Stock Exchange, GE Aerospace, Pratt & Whitney, Royce, Honeywell, Amer Sports, Ingram, Dunkin, Brands, Inspire Brands Locations: U.S

☆ Ex-minister Iswaran pleads guilty in graft case that has gripped Singapore
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +2 min

Singapore's former transport minister S. Iswaran arrives at the Supreme Court in Singapore September 24, 2024. The case has gripped the wealthy city-state which prides itself on having a well-paid and efficient bureaucracy as well as strong governance. Iswaran, who joined the cabinet in 2006, is the first Singaporean minister to be tried in court. Singapore's former Transport Minister S. Iswaran has pleaded guilty to receiving gifts while in office, local media reported, as proceedings began on Tuesday in a rare graft trial involving a state official in this Asian financial hub. The last corruption case involving a Singaporean minister was in 1986, when the national development minister was investigated for allegedly accepting bribes.

Persons: Iswaran, Ong Beng Seng, Ong, NewsAsia Organizations: Prosecutors, CNA, English Premier League soccer, Singapore Locations: Singapore

☆ These are the top 10 global talent hubs in the world — and the U.S. isn't one of them
▼ + stars: | 2024-09-24 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +2 min

For the eleventh consecutive year, Switzerland topped the list as the world's most talent-competitive country, according to the IMD 2024 World Talent Ranking, signaling its strong and stable talent pool despite the rapidly changing global work landscape. The ranking measures how economies around the world perform when it comes to sustaining their pool of talent. This data is broken down into three buckets: investment in and development of homegrown talent, appeal (the extent to which a country taps into the overseas talent pool) and readiness (the availability of skills and competencies in the talent pool), according to the report. Switzerland remains at the forefront of talent competitiveness, topping the list since the ranking's inception in 2014. Singapore's steady rise is driven by the readiness of its talent pool, rated as No.

Organizations: IMD, Competitiveness, Switzerland Singapore Locations: Switzerland, Switzerland Singapore Luxembourg Sweden Denmark Iceland Norway Netherlands Hong Kong Austria, Asia, Singapore, Hong Kong, United States, U.S

☆ TSMC and Samsung in talks with UAE to build chip megafactories, WSJ reports
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

South Korea-based Samsung Electronics has also been considering investing in building chip manufacturing facilities in the country in the coming years. The Gulf state has been ramping up efforts and investments in developing its domestic tech industry as it works to build its position as a global hub for advanced technology and artificial intelligence. However, the discussions with UAE officials are still in the early stages, the report said. A tug-of-war between the U.S. and China has played out in the region as tech deals speed up and Washington grows increasingly wary over Beijing's influence in the Gulf state. TSMC and Samsung have held discussions with U.S. officials who are worried about potential shipments of advanced AI chips coming from UAE-based plants to China.

Persons: Alex Capri Organizations: Dubai International Financial, Global, Taiwan Semiconductor Manufacturing Co, Samsung Electronics, United, Street, TSMC, South Korean, UAE, U.S, Samsung, National University of, CNBC, Wall Locations: Dubai, United Arab Emirates, Burj, Gulf, Taiwan, South Korea, China, Washington, UAE, The U.S

Read previewThe new AI iPhone is officially available in Apple stores, hitting shelves in almost 60 countries around the world on Friday. The iPhone 16 is the first phone to launch in Apple's new era of artificial intelligence. Although the iPhone 16 won't come straight out of the box with Apple Intelligence, it's one of only two iPhone generations that's compatible with the software. They had pre-ordered the iPhone 16 for themselves and their friends. AdvertisementQueues outside Apple store in Singapore 1 hour into store opening.

Persons: —, there's, Shubhangi Goel, Apple Organizations: Service, Apple, Apple Intelligence, Business, Control, BI, Orchard, Samsung, Huawei, Apple Watch, Lines, Regent, Apple's Regent Locations: Orchard, Singapore, Vietnam, Sri Lanka, India, London, Apple's, Covent Garden, Covent, Europe, Mumbai, Hangzhou, China

☆ How 3 friends without any hospitality experience started renting out over 400 tiny homes in remote locations around the world
▼ + stars: | 2024-09-20 | by ( Erin Liam | ) www.businessinsider.com time to read: +7 min

An early obstacleWith no experience in architecture or building, their first roadblock was figuring out how to build a tiny house. Developing their tiny houses into a profit-sharing businessAfter garnering attention from local media, the team started to receive inquiries on how to purchase tiny houses, Chia said. AdvertisementIn 2023, they set up tiny houses in SingaporeThe tiny house movement encourages minimalistic and sustainable living. Each tiny house is placed in natureBig Tiny's tiny house in Lake Stella, New Zealand. Big TinySeven years on, Big Tiny has placed more than 400 tiny houses in more than 10 countries worldwide, from Taiwan to Europe and Australia.

Persons: Adrian Chia's, Dave Ng, he'd, Dave, Chia, Ng, — Chia, Adrian Chia, Jeff Yeo, Yeo, Big Tiny, Lazarus, Tiny Organizations: Service, Business, Big, Sentosa Development Corporation, Singapore's Ministry of Trade and Industry, BI, Lake Stella Locations: Melbourne, Singapore, Chia's, Australia, Victoria, New South Wales, Germany, Lazarus, Southern, Lake Stella , New Zealand, Taiwan, Europe, New Zealand, Christchurch, Yilan

☆ Asia-Pacific markets trade mixed as investors look ahead to Fed meeting
▼ + stars: | 2024-09-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Most Asia-Pacific markets were mixed Tuesday, following a mixed trading session on Wall Street as investors prepare for the Federal Reserve to kick off its monetary loosening cycle. The Fed is expected to announce its first interest rate cut since March 2022, but markets are split over the size of the reduction from the two-day policy meeting which begins Tuesday. U.S. retail sales data is also set to take center stage as investors monitor the health of the consumer in the lead up to the Fed's meeting. Chinese appliance maker Midea Group is slated to debut in Hong Kong, with shares priced at 54.80 Hong Kong dollars apiece, in what would be the city's largest listing in more than three years.

Organizations: Singapore Authority, Port, Federal Reserve, Traders, Midea, Hong Locations: Port, Port of Singapore, Asia, Pacific, Hong Kong

☆ He was a theater and English major in the UK. Now, he's one of Singapore's 4 masters of wine.
▼ + stars: | 2024-09-16 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +5 min

One of the country's four masters of wine, Hemming oversees wine programs across Asia for 67 Pall Mall, a private club for wine lovers. Reflecting on his unlikely journey from aspiring actor to wine connoisseur, he shared how he transitioned from managing a wine shop to mastering the complex world of fine wine. As an English literature and theater major in the UK, Hemming initially believed the stage was his calling. But after graduating in 2001, he applied for a job at a wine shop in London. "To even register, you must have a reference from your employer saying that you are working in a wine role," Hemming said, along with a recommendation from another master of wine.

Persons: —, Richard Hemming, Shakespeare, Hemming, " Hemming, Jancis Robinson, Grant Ashton Organizations: Service, Business, Spirit Education Trust, Financial Times, North, Masters of, Pall Mall London Locations: Asia, London, Notting, Australia, Europe, Singapore, Pall, Hong Kong

☆ Alibaba’s Taobao shopping app launches AI-powered English version in Singapore, jumps to first place in Apple’s App Store
▼ + stars: | 2024-09-13 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +3 min

In this article BABA Follow your favorite stocks CREATE FREE ACCOUNTThe logo of Alibaba's e-commerce app Taobao is displayed next to mobile phones displaying the app, in this illustration picture taken October 25, 2023. Reuters | Florence LoSingapore — Chinese e-commerce giant Alibaba 's Taobao shopping app topped the Apple App Store charts in Singapore after releasing an English version on Tuesday — thanks to translations powered by artificial intelligence. That's according to Sensor Tower, a market intelligence firm whose data shows Taobao shot to first place in Apple's Singapore App Store across all categories, as of Sept. 11. As early as last year, Singaporean Taobao users had previously made guides on how to purchase clothes, furniture and lifestyle items from Taobao. These video guides were posted on the ByteDance-owned TikTok platform, another Chinese app.

Persons: Florence Lo, Alibaba, Bain, David Zehner Organizations: Reuters, Company, Asia, South Korean, Bain, CNBC Locations: Florence, Florence Lo Singapore, Singapore, Apple's Singapore, China, AliExpress, Malaysia, Asia Pacific, Singapore's

☆ Straits Trading's Chew Gek Khim on building a real estate powerhouse
▼ + stars: | 2024-09-12 | by ( Christine Tan | ) www.cnbc.com time to read: +1 min

Chew Gek Khim has been running Straits Trading since 2008, after her family's investment company, Tecity Group, took control following a highly public bidding war. Since then, she's taken the tin legacy smelting business founded in 1887, and transformed it to focus more on becoming a major player in real estate and hospitality. It sits across the water from the popular tourist destination, Penang Island. "I'm optimistic it's a game changer for Penang because this whole area, which was at one time looked at as the poorer cousin of Penang Island, is now coming up," Chew said. Learn more about Chew Gek Khim's leadership style, and how she used it to transform one of Singapore's oldest companies into a real estate powerhouse in the video above.

Persons: Chew, Khim, she's, Christine Tan Organizations: Tecity, CNBC's, UNESCO, Gek Locations: Asia, Straits City, Malaysian, Penang

☆ China is taking over the South China Sea, and the US isn't doing enough to stop it, experts say
▼ + stars: | 2024-09-12 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +7 min

Read previewTensions between the Philippines and China have heightened around contested waters in the South China Sea in recent months. In recent months China has engaged in increasingly aggressive operations against the Philippines around the disputed islands of Sabina Shoal, Escoda Shoal, and Second Thomas Shoal in the South China Sea. Chinese Coast Guard holding knives and machetes as they approach Philippine vessels in the disputed South China Sea on June 17, 2024. A Chinese Coast Guard firing a water cannon at a Philippine Navy-chartered vessel resupplying troops stationed at Second Thomas Shoal in March 2024. AdvertisementSpeaking at a conference, he said that the "escort of one vessel to the other is an entirely reasonable option within our Mutual Defense Treaty."

Persons: —, Collin Koh, Thomas Shoal, Second Thomas, Jay Tarriela, Timothy Heath, Heath, Koh, Shoal, Ezra Acayan, Samuel Paparo, Alexander Lopez, Sari Arho Havrén Organizations: Service, Institute of Defence, Strategic, Singapore's Nanyang Technological University, Business, coastguard, Mutual Defense Treaty, RAND Corporation, Coast Guard, Armed Forces, AP, Congressional Research Service, China, Philippine Navy, Navy, Air Force, Pacific Command, Mutual Defense, Philippine National Maritime Council, RAND, Royal United Services, Democrats, Republicans Locations: Philippines, China, South, Sabina, South China, Philippine, Second, Sabina Shoal, Asia, Ukraine, Israel

☆ 'Economy class syndrome' is a medical issue that can happen on flights — no matter where you sit
▼ + stars: | 2024-09-11 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +4 min

Experts call it "economy class syndrome" — but it can happen to anyone in any class of an airplane. Deep vein thrombosis, or DVT as it's known, occurs when blood clots in one or more veins. A 52-year-old former businessman in the banking industry said he developed deep vein thrombosis as a result of a four-hour flight from Singapore to Hong Kong. Urbazon | E+ | Getty ImagesThose who fly long-haul flights are at greater risk, but deep vein thrombosis can develop on shorter flights, he said. Alok Tapadia, a 52-year-old former businessman in the banking industry, said he developed deep vein thrombosis as a result of four-hour flight from Singapore to Hong Kong.

Persons: Pinakin, Parekh, I've, Tapadia, Doctors Organizations: Heart, Vascular, CNBC Travel, Mayo Clinic, Getty, Clinic Locations: Singapore, Hong Kong

☆ After 9 rejections, she landed her dream job as a Singapore Airlines flight attendant. Six years later, she quit to open a hawker stall.
▼ + stars: | 2024-09-10 | by ( Erin Liam | ) www.businessinsider.com time to read: +8 min

But the dream of becoming a flight attendant never went away, and she continued to apply after graduation. Tan applied to be a flight attendant on Singapore Airlines 10 times. Flying began to feel mundane, and she was uncertain about the job stability and career progression of being a flight attendant, she said. As a flight attendant, Tan got around a day off after working for two or three days a week. AdvertisementNo easy business to break intoThe hawker business is challenging to succeed in.

Persons: —, Cherry Tan, Tan, Duncan Hsu, Hsu, Erin Liam, KF, Hawker, " Tan, I'm, Tan doesn't, hawkers Organizations: Service, Singapore Airlines, Singapore Institute of Technology, Business, Urban, Factory, UNESCO, Intangible, Heritage, National Environment Locations: Singapore, Taiwan, Urban Hawker, New York City, hawker, India

☆ I stayed in a $290-a-night tiny home on an island 5 miles from Singapore. It was smaller than a parking space.
▼ + stars: | 2024-09-09 | by ( Erin Liam | ) www.businessinsider.com time to read: +10 min

During my three-day visit in August, I stayed at a tiny home by Tiny Away for one night. AdvertisementLaunched by a Singaporean tiny home startup called Big Tiny in May 2023, Tiny Away features five tiny houses that measure around 139 square feet each — or slightly smaller than an average parking space. Tiny Away is currently the only option for those who want to try tiny house living without going abroad. For one, there's a glamping resort on Lazarus Island that offers stays for a similar price to Tiny Away. But Tiny Away strikes me as ideal for guests looking for some solitude or a chance to experience the city-state minus all the high rises.

Persons: —, I'd, Tiny, Adrian Chia, Big Tiny, Erin Liam, Chia, cocker, Lazarus, Prudence Lai Organizations: Service, Business Locations: Singapore, New York City, Lazarus, Southern, Sentosa, Singapore's

☆ India and Singapore agree to cooperate on chips as countries seek to strengthen partnership
▼ + stars: | 2024-09-05 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +4 min

The announcement comes during Indian Prime Minister Narendra Modi's two-day visit to the Lion City, which began Wednesday following a trip to Brunei. The next phase of the Singapore-India partnership is very promising," Singapore Deputy Prime Minister Heng Swee Keat said at the Singapore-India Forum organized by the Singapore-India Partnership Foundation, Institute of South Asian Studies and the Singapore Business Federation. "Singapore, India and the rest of Asia must continue to strengthen on economic connectivity and integration, to allow for capital, ideas and talent to find their optimal uses," he said. We want to create a bunch of Singapores in India," Modi said in a meeting with Wong. watch nowOn Wednesday, Modi and Singapore's Prime Minister Lawrence Wong visited Singaporean semiconductor and electronics company AEM, signaling their intent to increase cooperation in chips.

Persons: Narendra Modi, Brunei Sultan Hassanal, Dean Kassim, Narendra Modi's, Heng Swee Keat, Modi, Wong, Lawrence Wong, Heng, Ajit Doval, It's, Anit Mukherjee Organizations: India's, Istana Nurul, Afp, Getty, SINGAPORE —, Indian, Lion, Singapore -, India Partnership Foundation, Institute of South Asian Studies, Singapore Business Federation, U.S, International Monetary Fund, Singapore's, National, Imports, CNBC, Modi's, King's College London, Economic, Board Locations: Brunei Sultan, Istana Nurul Iman, Bandar Seri Begawan, SINGAPORE, SINGAPORE — India, Singapore, Brunei, India, Singapore - India, Asia, —, China, Germany, Japan

☆ One of China's neighbors is sending out more naval patrols to challenge its attempts to dominate the South China Sea
▼ + stars: | 2024-09-04 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +6 min

Read previewThe Philippines says it has stepped up its naval patrols and air surveillance around a disputed island in the South China Sea to counter the growing number of Chinese vessels in the area. In June, Chinese coast guards armed with swords and knives attacked Philippine vessels in the contested waters, resulting in injuries and one soldier losing a thumb. Chinese coast guards holding knives and machetes as they approached Philippine troops in the disputed South China Sea in June. "We once again warn the Philippines to face reality and give up illusions," Liu Dejun, a spokesperson for China's coast guard, said. Advertisement(Vietnam, Malaysia, Brunei, and Taiwan also lay claim to parts of the South China Sea.)

Persons: —, Roy Vincent Trinidad, BRP Teresa Magbanua, Trinidad, Sabina Shoal, Jay Tarriela, Tarriela, Teresa Magbanua, Liu Dejun, Liu, Sari Arho Havrén, Collin Koh, Koh, Adm, Samuel Paparo, Alexander Lopez Organizations: Service, Coast Guard, Navy, Air Force, Daily Tribune, Business, BRP, Armed Forces, AP, The Daily Tribune, Liberation Army Navy, US Department of State, Royal United Services Institute, Institute of Defence, Strategic, Singapore's Nanyang Technological University, CNN, Pacific Command, Mutual Defense, Philippine National Maritime Council Locations: South, Philippine, Sabina, Escoda, China, Philippines, South China, China's, Sabina Shoal, Vietnam, Malaysia, Brunei, Taiwan, Washington, Manila

☆ Macao did it. Singapore too. Now Thailand looks to build casinos to attract tourist dollars
▼ + stars: | 2024-09-02 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Thailand is working on a new game plan to boost foreigner arrivals and increase tourism spending: casinos. The strategy has worked for Macao — which has overtaken Las Vegas as the world's largest gambling hub — and Singapore, with two successful 14-year-old casinos. If Thailand's draft bill gets passed into law, the country could be Macao and Singapore's largest competitor by the end of the decade, industry watchers told CNBC. If the law gets passed, Thailand's casinos could generate 187 billion Thai baht ($5.5 billion) in revenues, or 1% of the country's GDP, according to Maybank research. The Thai economy grew 1.9% in 2023, and is expected to grow 2.7% this year, the finance ministry said.

Persons: Ben Lee, —, Lee, Srettha Thavisin, Paetongtarn Shinawatra, Yin Shao Yang Organizations: Macao, Las Vegas, CNBC, IGamiX Management, Consulting, Tourism, Thai, Investment Bank Locations: Pattaya, Thailand, Singapore, Macao, Macau

☆ I gave up my dream of being a doctor at a local hospital just one year out of medical school. That decision cost me close to half a million dollars, but it was worth it.
▼ + stars: | 2024-08-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Medical school was fun but gruelingChoo (right) graduated from medical school in 2021. Faith ChooThe first two years of medical school felt like high school all over again. AdvertisementBack then, our seniors in medical school would warn us about life after graduation. They would tell us about the terrible working hours that came with being on call, like having to work for two days straight without rest. AdvertisementThe thought of leaving first crossed my mind after I clocked 19 consecutive days of work in the hospital.

Persons: —, Faith Choo, they've, Choo, they're Organizations: Service, Business Locations: Singapore

☆ SoftBank-backed Indian EV startup Ola Electric pops 20% on debut valuing firm at $4.8 billion
▼ + stars: | 2024-08-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Bhavish Aggarwal, Chief Executive Officer (CEO) of Ola Cabs and founder of Ola Electric speaks during a press conference ahead of the Initial Public Offer (IPO). Shares of Ola Electric surged 20% in their market debut Friday, valuing the Indian electric vehicle startup at around $4.8 billion. Ola Electric makes electric scooters and only shipped its first product 2½ years ago. This is the trend Ola Electric is trying to tap into as it prepares to deliver its first electric motorbike product in the second half of 2025. Ola Electric has some high-profile investors including SoftBank and Singapore's investment fund Temasek.

Persons: Bhavish Aggarwal, Ola, Ola Electric Organizations: Ola, Reuters, McKinsey & Co, Temasek Locations: Mumbai, India

Under the new passport-less immigration program, Singapore residents will not need to show their passports to arrive and depart at air and sea checkpoints. Foreign travelers must also enroll their iris, facial and fingerprint biometrics at manual immigration counters, according to Singapore's Immigration & Checkpoints Authority. However, children under six years old cannot use biometric clearance, or automated lanes at all, to clear immigration, according to authorities. By early 2026, Singapore immigration officials expect 95% of travelers will be able to clear immigration via automated lanes. Biometric processing is expected to reduce immigration wait times by 40%, according to immigration officials.

Persons: Sumesh Patel, SITA Organizations: Changi Airport, Seletar, Bay, Centre Locations: Singapore's, Singapore, Asia, Pacific

☆ One of Singapore's flashiest CEOs was planning to throw a Tomorrowland-style party for the books. Then the mirage started to fall apart.
▼ + stars: | 2024-08-03 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Besides making his own K-pop music video, Yong starred in the Netflix series "Super Rich in Korea." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The 37-year-old businessman, lawyer, and K-pop enthusiast grabbed headlines when he appeared as a cast member in the Netflix series "Super Rich in Korea."

Persons: David Yong, Yong, — Organizations: Netflix, Service, Evergreen Group, The Straits Times, Business Locations: Singapore, Korea

☆ Singapore's monetary authority sets up review group in bid to revive its equities market
▼ + stars: | 2024-08-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Signage for the Monetary Authority of Singapore (MAS) is displayed outside the central bank's headquarters in Singapore. The Monetary Authority of Singapore announced that the review group will evaluate measures to "improve the vibrancy" of the Singapore equities market. MAS said on Friday the panel will focus on addressing market challenges, fostering listings, and facilitating market revitalization, as well as enhancing regulations to facilitate market growth and foster investor confidence. It said another key goal will be to identify methods for encouraging private sector participation, including from capital market intermediaries, investors and listed companies. "Improving the attractiveness of Singapore's equities market can therefore enhance Singapore's standing as a vibrant enterprise and financial hub," the MAS said, adding that this will also "[complement] Singapore's innovation and start-up ecosystem, private markets, as well as asset and wealth management sectors."

Organizations: Monetary Authority of Singapore, MAS Locations: Singapore, Singapore's

☆ Singapore's UOB maintains 2024 guidance even as second-quarter profit misses forecasts
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: +1 min

Singapore's United Overseas Bank (UOB) maintained earnings guidance for 2024 after posting on Thursday a 1% year-on-year rise in second quarter net profit that slightly missed expectations. Singapore's United Overseas Bank maintained earnings guidance for 2024 after posting on Thursday a 1% year-on-year rise in second quarter net profit that slightly missed expectations. However, we expect ASEAN to stay relatively resilient," said UOB Deputy Chairman and CEO Wee Ee Cheong in a statement. UOB maintained its 2024 projections of low single-digit loan growth, double-digit fee growth and positive growth in total income, according to Wee's presentation slides accompanying the earnings results. UOB said its April-June net profit rose to 1.43 billion Singapore dollars ($1.07 billion) from SG$1.42 billion a year earlier on the back of higher net fee income, a rebound in loan-related fees and wealth management fees, and double-digit growth in credit card fees.

Persons: Wee Ee Cheong, UOB Organizations: Singapore's United Overseas Bank, ASEAN Locations: Southeast

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