The Business Times
‘Show me your agent’: DBS chief on transforming the bank with agentic AI
DBS is reframing banking with agentic artificial intelligence, and maintaining an organisational culture open to change will be crucial for success, said its CEO Tan Su Shan. She recalled that at the bank’s leadership offsite years ago, when the...
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Keppel’s S$1.43b M1 sale nears collapse amid Simba’s alleged spectrum breaches
THE S$1.43 billion bid by mobile network operator Simba Telecom to acquire M1’s telco business from asset manager Keppel is on the brink of collapse, after Singapore’s Infocomm Media Development Authority (IMDA) on Monday (May 18) announced...
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Boom in big-ticket real estate deals keeps Singapore dealmakers on their toes
REAL estate dealmakers are preparing for a busy season with a boom in big-ticket transactions. This comes as cheaper financing makes large acquisitions viable while also bringing more assets onto the table. “We are clearly seeing greater transaction...
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Justco targets S$100m IPO to expand into existing and new markets
Post-listing, it would have an estimated market capitalisation of about S$459.9 million. The IPO consists of 32.1 million shares priced at S$0.94 each, based on the company’s final prospectus.
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Singpost to keep, enhance Singpost Centre in U-turn from plan to sell it
SINGAPORE Post (Singpost) has decided not to divest its flagship building, Singpost Centre (SPC). Instead, the postal and logistics player – being bullish about the property’s upside potential – will carry out enhancements to further milk the cash...
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Taking ‘bold bets’, building economic resilience among final ESR proposals
ATTRACTING cutting-edge investments and tackling supply chain risks in key industries are on a list of 32 final recommendations by the Economic Strategy Review (ESR) committees, which were announced on Wednesday (May 13). These fall across eight focus...
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More upside ahead for DBS, OCBC, UOB as wealth fees power Q1 earnings
WEALTH management and other fee income are becoming increasingly important earnings buffers for Singapore banks, and analysts expect non-interest income to continue offsetting expected declines in net interest income amid a falling interest-rate...
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Penang looks past hyperscale data centres, doubles down on chips
Kuala Lumpur WHILE other Malaysian states are racing to attract billion-ringgit data centre investments, Penang is taking a different approach. It is staying out of the hyperscale data centre race to focus on areas where it believes it holds better...
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Foreign money fuels Thai stock rally as SET chief vows governance reset
Bangkok A RETURN of foreign money has helped power Thailand’s stock market from regional laggard to outperformer, with inflows reaching close to US$2 billion this year, before Middle East tensions cooled sentiments, said Stock Exchange of Thailand...
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OCBC’S Indonesia deal a ‘perfect fit’ for Asean wealth ambitions: CEO
Tan Teck Long described the HSBC portfolio as “very clean”, and that it is largely made up of deposits and assets under management, unlike others that comprise a mix of loans and deposits.
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UOB aims to double wealth income to at least S$2.5b by 2030; Q1 profit slips 4%
UOB has set a target of doubling its wealth management income by 2030, as it looks to further expand in the affluent segment across Asean. This “underpenetrated” sector could drive its next phase of growth, said deputy chair and chief executive officer...
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Singapore earns top rating from global watchdog in fight against financial crime
SINGAPORE received the highest monitoring rating from a global watchdog for its fight against financial crime. This is despite the S$3 billion money laundering scandal in 2023 exposing vulnerabilities tied to its role as a global financial hub. Such...
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MAS, bank CEOS convene over AI threats; government calls for board-level attention
THE Monetary Authority of Singapore (MAS) and the chief executives of major financial institutions have convened to discuss the threat posed by Ai-enabled cyberattacks, as frontier artificial intelligence (AI) models capable of autonomously identifying...
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Asean’s biodiesel push fuels palm oil rally, but will Sgx-listed players gain?
A CRUDE oil supply shortfall from the prolonged closure of the Strait of Hormuz has accelerated biodiesel mandates in South-east Asia, driving up crude palm oil (CPO) prices and lifting Singapore Exchange-listed plantation stocks. Biodiesel – a...
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CICT’S Tan Choon Siang marks first year with billion-dollar deal streak
SINCE taking the reins a year ago, Tan Choon Siang, chief executive of Capitaland Integrated Commercial Trust’s (CICT) manager, has kept the real estate investment trust (Reit) firmly in motion, stepping up its capital recycling game with a string of...
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SUCCESSION IN SINGAPORE: IS THE ERA OF FAMILY EMPIRES COMING TO AN END?
More dynasty businesses may have to hand over the reins to outsiders – but that does not have to be cause for concern
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DBS CEO strikes upbeat tone on deposits, wealth growth after strong Q1
DBS has raised its 2026 deposit growth outlook, citing strongerthan-expected inflows, even as it guides for earnings to hold steady amid an uncertain rate environment. “We’re seeing higher-than-expected deposit growth,” said chief executive Tan Su...
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CDL strategic review ‘timely’ after last year’s disputes, says CEO Sherman Kwek
AN ONGOING strategic review being done by City Developments Ltd (CDL) was “timely” after the company went through “some difficulties” and internal disputes last year, group chief executive officer Sherman Kwek told a packed shareholders meeting on...
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Asia private equity draws fresh investor interest as returns beat global averages
ASIA-FOCUSED private equity (PE) funds are piquing investor attention with distributions outperforming global averages in 2025, as well as in four out of the past five years, highlighting the region’s role as a diversification play. Data from private...
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‘Fundamental reshaping’ of Singapore car market on high China, EV brand demand
ELECTRIC vehicle (EV) brands reached new heights in the first quarter of 2026, with registrations for some increasing by as much as five times. Meanwhile, registrations for legacy brands such as BMW, Mercedes-benz and Honda dropped by more than 35 per...
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Safe-haven flows, lack of Q1 Fed cut positive for Singapore banks’ outlook: analysts
SINGAPORE’S three local lenders – DBS, OCBC and UOB – could see first-quarter net interest income supported by safe-haven deposit inflows linked to the ongoing Middle East war, analysts said. The boost also comes as the US Federal Reserve backed away...
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Private home prices rise 0.9% in Q1, setting stage for steady 2026
The stronger overall price growth, up from a 0.6% increase in the previous quarter and driven by the non-landed segment, came despite lower transaction volumes and fewer home completions.
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SGX Regco’s disclosure push may strain smaller firms, raise box-ticking risk
SMALL and mid-cap listed companies on the Singapore Exchange (SGX) could come under strain from proposed tighter disclosure rules, with industry watchers cautioning that the push to lift valuations may also raise compliance burdens and risk boilerplate...
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Not-so-sweet deal for Singapore’s refineries as they shift to US, alternative crudes
THE Republic’s refineries face weaker margins and reduced efficiency as they pivot to alternative crude oil feedstocks from the Americas and West Africa to offset disruptions arising from the Middle East conflict. While the delivered cost per barrel...
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SGX Regco proposes tighter disclosures on pay, dividends and investor relations to lift valuations
LISTED companies on the Singapore Exchange (SGX) may soon face tighter disclosure rules on executive pay, dividend policy and investor relations, as the regulator pushes firms to show more clearly how they create shareholder value. Singapore Exchange...
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S$3.9b Paragon acquisition seals CICT’S dominance in downtown retail
THE S$3.9 billion proposed acquisition of Paragon mall is set to cement Capitaland Integrated Commercial Trust’s (CICT) dominance along the Orchard Road shopping belt and downtown stretch, and also gives it a foothold in Singapore’s high-end medical...
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Gender diversity, tenure length of STI company chairs are still governance issues
OF THE 30 companies on the Straits Times Index (STI), just two are chaired by women. This begs the question: Is Singapore falling behind when it comes to gender diversity in the upper echelons of leadership? To be sure, such under-representation is...
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Nassim Road bungalow changing hands for S$64.9m
The option to purchase the Good Class Bungalow was exercised recently. The buyer is understood to be Shiv Puri, an entrepreneur and philanthropist who founded TVF Capital Advisors.
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Locked-in rates help Singapore landlords, hotel operators hold power price hikes at bay
COMMERCIAL landlords and hospitality operators in Singapore have largely been shielded from recent electricity tariff hikes, thanks to fixed-price contracts and hedging strategies put in place ahead of market volatility. In March, the government...
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Near sell-out launches in March boost developer sales to 1,300 units
DEVELOPERS in Singapore sold 1,300 private homes in March, up 78.3 per cent from the 729 units moved a year earlier, as more projects hit the market after a slow season. Data released by the Urban Redevelopment Authority on Wednesday (Apr 15) showed...
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More monetary policy tightening moves on the cards, but economists split on timing
WITH inflation risks from the Iran war oil shock still building, economists expect the Monetary Authority of Singapore (MAS) to tighten monetary policy further this year – though analysts are divided on whether the central bank will act as soon as July...
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Recession, demand destruction in industrial metals loom as Us-iran war drags on
SCARCITY in industrial metals, particularly in Asia, due to supply bottlenecks caused by the war in the Middle East is stoking fears of slowing demand in the region amid surging energy prices. Hopes of a de-escalation are fading after the failed...
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Higher electricity prices for Singapore businesses as rates, tariff climb amid war
BUSINESSES starting or renewing their electricity contracts are facing cost pressures, with electricity retailers’ prices and tariffs rising amid supply constraints due to the war in the Middle East. Based on data from the Open Electricity Market...
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S-E Asia’s growth could remain robust if Middle East conflict stabilises early: ADB
Assuming oil and gas prices peaked in March and move towards pre-conflict, end-2026 levels, GDP growth for developing S-E Asia is projected to be at about 4.7% for 2026, supported by strong domestic demand.
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Oil rout gives Asian currencies some respite – if Middle East ceasefire holds
ASIAN currencies could see a modest rebound in the coming weeks if a fragile ceasefire between the United States and Iran holds, analysts told The Business Times. Crude oil prices – which had surged since the conflict began on Feb 28 – posted their...
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Asian airlines hoarding liquidity to survive worst oil shock since 1980s
ASIAN airlines are shifting their focus from capacity growth to liquidity preservation as an infrastructure-led oil shock weighs heavily on industry margins, according to Thai Airways chief executive Chai Eamsiri. Carriers are now in survival mode...
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Singapore rolls out S$1b support package as energy costs rise
SINGAPORE will roll out a support package worth close to S$1 billion to cushion the impact of rising energy costs from the Iran war, with a raft of measures aimed at helping businesses, workers and households manage the fallout. The measures are over...
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Iran war pushes Singapore’s tech sector to focus on energy efficiency, diversification
LOGISTICAL bottlenecks and escalating freight costs are among the challenges being faced by players in Singapore’s technology sector. As a result, the semiconductor manufacturers, data centre operators and other tech players in Singapore are leaning...
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Singapore IPO players on the fence as they await resolution of Middle East war
THE Republic’s initial public offering (IPO) market had a vibrant six months up to Mar 31, with 10 primary and secondary listings on the Singapore Exchange (SGX), more than double the four listings during the same period a year earlier. Several...
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Privatisation reset puts ‘simplified’ ESR on growth path from Singapore
The group has channelled roughly US$700 million of foreign capital to Singapore over the last two years, and aims to double core AUM to more than US$80 billion by 2030.
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Singapore convenes crisis committee to boost energy resilience, support amid Iran war
PRIME Minister Lawrence Wong has convened the Homefront Crisis Ministerial Committee, chaired by Coordinating Minister for National Security K Shanmugam, with Deputy Prime Minister Gan Kim Yong as adviser, to respond to the ongoing conflict in the...
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Singapore’s AI ambitions put telcos to the test, raise ‘dumb pipe’ risk
SINGTEL’S recent mechanical fault that triggered widespread outages in Singapore has cast a spotlight on a potential weakness in the Republic’s artificial intelligence (AI) ambitions. The issue is no longer just about network capacity, but whether the...
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Businesses brace for impact as EMA warns of potentially sharper rise in power tariffs
SINGAPORE businesses, especially those in sectors more reliant on energy, are bracing themselves for higher costs after the Energy Market Authority (EMA) warned on Tuesday (Mar 31) that Singapore should prepare for further increases in electricity and...
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Singapore investors buy the dip, bucking global gold sell-off
WHILE gold’s safe-haven role broadly gave way to a scramble for cash amid the escalating Middle East conflict, opportunistic buyers in Singapore are bucking the trend. Rather than fleeing the market, investors in the city-state are using the recent...
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Food manufacturers fret as Iran war sends diesel, logistics and packaging costs soaring
ALREADY under pressure from sharply rising energy, logistics and raw material costs due to the conflict in the Middle East, Singapore’s food manufacturers are bracing for more headwinds – such as higher natural gas and electricity prices – in upcoming...
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Low Tuck Kwong sues Peter Kwee for A$9.6m over alleged material defects
This pertains to a S$32.2m agreement between Low, an Indonesian coal mining billionaire, and his company to buy out motoring tycoon Kwee and another individual’s shares in three companies.
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Singapore investors reassess private credit exposure after US funds limit withdrawals
ACCREDITED investors in Singapore are reassessing their exposure to evergreen private credit funds after a wave of redemption requests at major US managers triggered “gating” mechanisms, limiting withdrawals. “Some investors, especially those less...
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Singapore firms more selective in hiring as Iran war adds to cost pressures
EARLY signs of more restrained hiring are emerging among firms in Singapore as cost pressures mount amid the ongoing Iran war, although the shift has yet to show up in official labour market data. Recruiters and hiring platforms told The Business...
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Oil volatility, force majeures swamping Singapore energy traders, lawyers in work
SINGAPORE’S energy-sector professionals are in crisis management mode, as the Middle East war throws up wild price swings, cargo disruptions and legal conundrums. “We are seeing a perfect storm of disruption across the trading chain,” said Baldev...
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Trump shelves military strike ultimatum on Iran, but not before S-E Asian markets tank
SOUTH-EAST Asia’s markets reeled on Monday (Mar 23) after US President Donald Trump and the Iranian leadership exchanged threats that would take war in the Middleeast to a highly dangerous level. Trump on Saturday threatened to “obliterate” Iran’s...
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Mid-east data centre attacks could raise tech giant interest in Johor-singapore SEZ
Kuala Lumpur THE Johor-singapore Special Economic Zone (JS-SEZ) could draw fresh attention as a potential node for global cloud infrastructure, as drone strikes on data centres in the Middle East make tech giants think about diversifying into regions...
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Watch maven Tay Liam Wee sells Nassim GCB plot for S$92m
The 23,922-sq-ft vacant site is being sold by former Sincere Watch boss to Dr Ian Tan, founder of medical aesthetics clinic chain V Medical, which operates 21 clinics across Singapore.
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Oil surges past US$110, rattling markets in Asia and clouding Fed rate-cut outlook
BRENT crude’s surge past US$110 a barrel sent Asian markets lower on Thursday (Mar 19), and is set to further jolt sentiment, as escalating strikes between Iran and Israel threaten critical energy infrastructure. This followed the US Federal Reserve’s...
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Singapore’s Feb key exports growth slows to 4%; electronics surge eases, non-electronics slide
THE Republic’s key exports rose 4 per cent year on year in February, easing from the preceding month’s revised 9.2 per cent growth, data from Enterprise Singapore (Enterprisesg) showed on Tuesday (Mar 17). The latest non-oil domestic exports (NODX)...
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A fresh start for Jurong Lake District with Town Hall Link site released
THE Urban Redevelopment Authority (URA) has released the first Jurong Lake District (JLD) plot, carved out of a massive area previously tendered for a master developer project, with a white site along Town Hall Link put up for sale from its reserve...
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Iran war ups inflation risks, tips scales for MAS to go for stronger Singdollar in April
THE escalating conflict in the Middle East and sharp rise in crude oil prices have tilted the odds in favour of the Monetary Authority of Singapore (MAS) tightening monetary policy at its review in April, analysts said. Several economists now expect...
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Ringgit’s rebound tests Malaysian exporters as Singdollar remains resilient
MALAYSIA’S ringgit has surged to its strongest levels in years, but for businesses trading across the Johor Strait, the key question is how the currency will fare against the resilient Singapore dollar. The ringgit’s rally, buoyed by improving...
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Brazilian payments unicorn focuses on Asia-pacific with upcoming HQ here
Ebanx, which entered Asia in 2023, will open its Asia-pacific headquarters with a team of 25 in the country. AFTER a banner 2025 financial year, Singapore-listed property stocks look set to extend their run into 2026, supported by steady residential...
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Singapore, regional petrochem sector could see more force majeure notices
THE escalating conflict in the Middle East has cast a pall on Singapore’s petrochemical sector, with two key players declaring force majeure in the past week and some analysts expecting that more could follow. “It is looking very grim for Singapore’s...
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Iran conflict could lift palm oil prices, but not all SGX agri players will gain
PROLONGED Middle East instability could push crude palm oil (CPO) prices higher on stronger biodiesel demand – a dynamic that may benefit upstream plantation companies but pressure integrated operators. Analysts said that Singaporelisted planters with...
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SPEED AND SAVINGS: WHAT’S DRIVING SINGAPOREANS TO KEEP LUXURY CARS IN MALAYSIA
Former racing driver Ringo Chong helps Singaporeans take their cars for a spin on a former Formula 1 racetrack – but without F1-sized bills. His company, Ringo Chong Racing & Promotions, provides storage and maintenance services for track-only cars at...
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Oil spike drags Asian currencies lower; Fed and Middle East trajectory key risks
ESCALATING tensions in the Middle East have pushed major Asian currencies lower against the US dollar over the past week, as oil prices surged and investors sought the greenback as a safe haven. However, analysts said energy prices – the main...
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Singapore energy regulator cautions Gulf conflict could hike electricity prices
SINGAPORE electricity prices could rise if global gas prices remain elevated amid Middle East tensions, the Republic’s energy regulator told The Business Times. Market players are watching prices closely, but believe that Singapore’s electricity...
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S-E Asian businesses in the Gulf take safety measures, hunker down for lengthy disruption
SOUTH-EAST Asian companies with Gulf exposure are in contingency mode as the Us-iran conflict ripples through the region, causing margin pressures as freight and energy costs spike. Exporters to the Middle East, companies in the oil and gas (O&G)...
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War impact on energy cost: Singapore to reassess growth, inflation forecasts if needed
THE Republic will reassess its growth and inflation forecasts if necessary, following the outbreak of conflict between the US, Israel and Iran, which has raised the risk of higher global energy prices, said Deputy Prime Minister Gan Kim Yong in...
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Wealth flows, Asean momentum to anchor Singapore banks in 2026: observers
SINGAPORE’S three local banks exited FY2025 on a firm footing, as stronger fee and wealth income helped offset pressure from lower interest rates, while provisioning buffers kept asset quality broadly stable heading into 2026. With further rate cuts...
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THE NEW RULES OF ENGAGEMENT: FORGET MINED DIAMONDS, GO LAB-GROWN
FOR decades, the mined diamond was the undisputed centrepiece of a marriage proposal, including in Singapore. But pragmatic couples are breaking with tradition by opting for lab-grown stones instead. Lab-grown diamonds now account for about 80 per cent...
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Over-reliance on taxing the rich risks shifting burden to middle class: PM Wong
RELYING solely on “ever-higher” taxes on the wealthy risks undermining competitiveness, enterprise and job creation, and has limits in addressing inequality, said Prime Minister and Finance Minister Lawrence Wong in Parliament on Thursday (Feb 26). As...
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OCBC’S new CEO Tan Teck Long pivots to Asean, wealth business for expansion
A STRATEGIC shift towards Asean, wooing the high net worth to expand OCBC’S wealth pie, and an intensified focus on technology – these are some of the key strategies that the bank’s new group chief executive officer, Tan Teck Long, intends to...
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UOB upbeat on Asean trade despite fresh US tariffs, trims 2026 fee guidance
AS FRESH tariffs cloud the global trade outlook, UOB said that Asean’s intra-regional momentum remains intact, positioning the region as a relative bright spot amid rising volatility. While businesses may adopt a cautious stance in the near term as...
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Core inflation eases to 1% in January as MTI, MAS keep full-year forecast at 1-2%
THE Republic’s core inflation eased to 1 per cent in January from 1.2 per cent in December, defying economists’ expectations even as headline inflation edged higher. Private-sector economists had expected the rate for core inflation, which excludes...
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Singapore monitoring situation as Trump’s 15% tariff threat raises uncertainty
THE Singapore government is closely monitoring fresh tariff developments and engaging its US counterparts, and stands ready to render more support measures if needed, as US President Donald Trump’s new 15 per cent tariff threat heightens...
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