SINGAPORE: Embracing financial technology (fintech) and the innovations it heralds will improve the long-term competiveness of Singapore’s banking industry, says S&P Global Ratings. In the report, “Singapore banks must adapt to fintech or lose out,” issued on Thursday, the rating agency’s credit analyst Ivan Tan said digital transformation is imperative for Singapore’s banking industry. “Investment […]
Read MoreThe baht soared to its highest level against the dollar in more than five years on Wednesday, on hopes that the US and China would be able to secure a trade deal and avert retaliatory tariffs. Analysts expect the local currency to continue marching past the 31-baht mark. The baht’s rapid gain could be due to […]
Read MoreSINGAPORE: Singapore’s expansionary budget for the coming year makes the central bank’s April policy decision slightly more complicated. The Monetary Authority of Singapore will need to decide whether to tighten policy in the face of steady economic growth and greater fiscal spending, or hold its stance because of growing global risks. “The case for further monetary policy tightening is diminishing,” with weaker economic […]
Read MoreAfter joining 120 countries in the Automatic Exchange of Information in 2018, the tax office has obtained information about the wealth of Indonesian nationals that is deposited in financial institutions in 65 countries, according to the Finance Ministry’s Taxation Directorate General. Taxation Director General Robert Pakpahan said the tax office was scrutinizing the data. “We are cross-checking […]
Read MoreForeign direct investment has always been an important aspect of Thailand’s economic development and the country remains to hold its position as one of the primary inbound investment destinations in the region. A recent survey by KPMG gathered valuable insights from many of KPMG’s leading domestic and international clients who have recently undertaken M&A projects […]
Read MoreMANILA, Philippines — The country’s external payments position strengthened for the third straight month with the balance of payments (BOP) surplus hitting a six-year high of $2.7 billion in January amid strong inflows. Data released by the Bangko Sentral ng PIlipinas (BSP) Tuesday evening showed last month’s BOP surplus was a complete reversal of the […]
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