Singapore’s sovereign wealth fund GIC has secured a 25 percent interest in a Spanish fibre‑optic broadband venture jointly owned by Vodafone Spain and MasOrange, part of its broader strategy to diversify into global infrastructure assets. Deal De
Singapore’s financial regulator imposed S$27.45 million in fines on nine banks and institutions over widespread anti‑money laundering failures tied to a 2023 scandal. The enforcement marks the strongest regulatory action since the 1MDB affair. Sc
OCBC reports a 7 percent year‑on‑year decline in second‑quarter net profit to S$1.82 billion, in line with forecasts. The bank cuts its 2025 net interest income outlook, citing persistent tariff uncertainty and global trade tensions. Financial
ASEAN countries including Singapore, Malaysia, Thailand and Indonesia now have integrated domestic QR payment systems. Full interoperability is expected under Project Nexus—due by 2026—to enable cross-border transactions in local currencies. 1. P
Ant International, Ant Group’s overseas arm based in Singapore, is exploring stablecoin license applications globally to support efficient cross-border payments—and emphasizes non-crypto transactions as its focus. 1. Vision for Stablecoins Kelvin
RHB Bank’s Singapore unit delivered pretax profits of S$98.7 million in 2024—a 95.6% increase year-on-year—and aims to achieve a 12% return on equity by 2027, underscoring its growing role in Southeast Asian financial services. 1. Strong Growth
Singapore is now reducing the timeframe for opening private bank accounts and accessing family office tax incentives to around three months, down from as long as one year, as part of efforts to preserve its appeal to global wealth clients. 1. Reform
Singapore’s regulators fined nine banks and financial entities a total of S$27.45 million in connection with deficiencies uncovered during the 2023 money laundering scandal. The enforcement represents the highest cumulative fine since the 1MDB epis
OCBC reported a 7% year-on-year drop in its second-quarter net profit to S$1.82 billion, driven by softer net interest income amid global economic uncertainty and trade tensions. The bank also trimmed its 2025 net interest income forecast due to tigh
Following MAS’s unchanged policy stance, economists expressed divided views. While some flag diminishing export acceleration, others argue MAS is rightly pausing to assess the impact of earlier easing measures. 1. Survey of Economists According to