SINGAPORE (Jan 20): DBS Bank has launched a QR code-based solution to help food and beverage (F&B) operators with the largely cash and paper-based payments and collections with their suppliers and vendors.

SG5, a wholesale distributor of beer and stout, which was one of the first to pilot the business-to-business (B2B) payments and collections solution, expects to save up to 3,300 manhours a month from this initiative.

DBS launches QR code-based B2B payments and collections solution

SINGAPORE (Jan 20): Mainboard-listed engineering and infrastructure group TEE International announced Monday that its wholly-owned subsidiaries have been awarded new contracts for engineering works worth about S$40 million.

The wins include a contract awarded to its Building & Construction division from a repeat client to carry out Asset Enhancement Initiative (AEI) works for a 21-storey office tower in the Central Business District.

TEE International announces S$40 mil worth of new engineering contracts

SINGAPORE (Jan 15): The Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) on Wednesday launched the Variable Capital Companies (VCC) framework.

The VCC is a new corporate structure that can be used for a wide range of investment funds and provides fund managers greater operational flexibility and cost savings.

MAS, ACRA launch Variable Capital Companies framework

SINGAPORE (Jan 14): Cyber incidences has toppled business interruption to be ranked the top business risk in Asia Pacific for the first time.

Some 35% of respondents in the Allianz Risk Barometer 2020 study — comprising more than 2,700 CEOs, risk managers, brokers and insurance experts from over 100 countries — named cyber incidences as the key challenge, mirroring a global trend that has seen awareness of the cyber threat growing rapidly in recent years.

Allianz: Cyber incidences seen as bigger risk than business interruption, climate change in Asia Pacific

SINGAPORE (Jan 13): Singapore Press Holdings (SPH) has posted earnings of S$46.3 million for 1QFY2020 ended November 2019, falling 17.2% from earnings of S$55.9 million a year ago.

Total revenue slipped 3.8% to S$249.0 million in 1QFY2020, from S$258.8 million a year ago, mainly due to a 19.8% drop in newspaper print advertisement revenue.

SPH reports 17% drop in 1Q earnings to S$46.3 mil as media revenue continues to slide

SINGAPORE (Jan 9): German pharmaceutical giant Boehringer Ingelheim is acquiring assets and intellectual property from Singapore-based biotech company Enleofen Bio, in a step towards finding effective treatments for fibro-inflammatory diseases.

In a press release on Thursday, Enleofen s...

Boehringer Ingelheim to acquire assets, IP from Singapore biotech firm in deal worth more than US$1 bil

SINGAPORE (Jan 8): Analysts remain bullish on Singapore banks, even as the Monetary Authority of Singapore (MAS) announced Tuesday that it has received 21 applications for new digital bank licences.

While MAS did not name the applicants, it said the new digital bank licences have attracted “strong interest from a diverse group of applicants”.

Analyst keep positive outlook on Singapore banks as applications for digital bank licences close

SINGAPORE (Jan 7): Only four in 10 small- and medium-sized enterprises (SMEs) in Singapore have made plans to manage a planned increase in goods and services tax (GST) to 9%, according to a survey by United Overseas Bank (UOB).

In addition, the survey found small businesses with less than S$20 million in revenue, were less prepared for the GST increase.

Majority of Singapore SMEs not ready for impending GST increase, says UOB survey

SINGAPORE (Jan 6): Prudential announced Monday that subsidiary Prudential Vietnam Assurance has entered into an exclusive bancassurance partnership with Southeast Asia Commercial Joint Stock Bank (SeABank) for a 20-year term.

The partnership is expected to be effective April 2020.

Prudential Vietnam enters into exclusive bancassurance partnership with SeABank

SINGAPORE (Jan 2): Singapore Exchange Regulation (SGX RegCo) has set up a working group to review the retail bonds regulatory framework.

Comprising industry professionals and investors, the group will discuss matters such as the admission criteria for retail bond listings, the continuing obligations of issuers of such bonds, and ways to protect bondholder interest in the event of a default or restructuring.

SGX RegCo forms working group to review retail bonds framework amid Hyflux debacle

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

Anwar: Putrajaya will keep eye on inflation rate following civil service pay hike

US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.

US private payrolls beat expectations in April 

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

KFC parent Yum reports surprise drop in global same-store sales on weak demand

Shell has exited China's power markets as part of CEO Wael Sawan's drive to focus on more profitable operations including its natural gas and oil businesses.

Shell exits China power market businesses

The retail price of RON97 petrol remains unchanged at RM3.47 per litre, with RON95 also unchanged at RM2.05 per litre, from May 2 to May 8, according to the Ministry of Finance on Wednesday.

Fuel prices unchanged till May 8

The dollar edged towards its highest level this year against a basket of peers and US share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.

Dollar near five-month highs ahead of Fed policy decision

Bitcoin slid by almost 6% on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later.

Crypto washout sends bitcoin below US$58,000 into bear market

Prime Minister Datuk Seri Anwar Ibrahim has emphasised that any party associating him and the government with a purported casino project in Forest City must face legal action.

Those who spread lies on Forest City casino project ought to be jailed, says PM

Details regarding the salary increase for civil servants will be announced during the tabling of Budget 2025 in October this year.

Details of civil servants’ wage hike to be announced in Budget 2025, says Fahmi 

China's Huawei Technologies has moved the high-profile chief of its consumer business, Yu Chengdong, to a new role as chair of the unit, two people with knowledge of the matter said.

Huawei's high-profile consumer CEO Richard Yu shifts role

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.

Stanislaus Jude Chan

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Stanislaus Jude Chan

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