SINGAPORE: Citigroup said on Tuesday it had completed the sale of its Thailand and Malaysia retail banking businesses to Singapore’s United Overseas Bank (UOB) in a transaction expected to result in a regulatory capital benefit of copy billion. UOB said in a separate statement that it expects to complete the acquisition of Citigroup’s consumer banking businesses […]
Read MoreSINGAPORE’S manufacturers remain negative about business conditions in the next six months, while services firms were less positive, according to separate quarterly surveys on Monday (Oct 31). A net weighted balance of 20 per cent of manufacturers expect a less favourable business situation October 2022 to March 2023, worsening from the previous quarterly survey, where […]
Read MoreSINGAPORE’S core inflation is expected to be driven more by domestic than external pressures in 2023, with inflation slowing but staying high over the course of the year, according to the Monetary Authority of Singapore’s (MAS) latest half-yearly macroeconomic review on Thursday (Oct 27). MAS said that domestic inflation is likely to persist at elevated […]
Read MoreTHE Monetary Authority of Singapore (MAS) sees promise for a purpose-bound digital Singapore dollar (Singdollar) to support government payouts and various other digital voucher schemes. Its findings on this topic and proposals for future trials were detailed in a report released on Monday (Oct 31) marking the successful completion of Phase 1 of Project Orchid, […]
Read MoreSINGAPORE: The economy continues to thrive following the hit from Covid-19, but growing uncertainty globally has prompted employers to keep a lid on wages despite their need for workers in a tight labour market. The Manpower Ministry (MOM) released preliminary third-quarter labour data on Friday that showed 69.3% of firms were looking to hire in […]
Read MoreSINGAPORE’s core inflation rose further to 5.3 per cent in September but headline inflation held steady at 7.5 per cent, according to Department of Statistics consumer price index (CPI) data on Tuesday (Oct 25). Both readings were in line with economists’ expectations. The pickup in core inflation was due to larger price increases for items […]
Read More
Thailand
