capital flows

Are we headed for another recession?

SINGAPORE (Sept 7): The outcome of the Global Financial Crisis (GFC) has altered the business and economic landscape — for better or worse.

First, tighter regulations in the financial services industry were introduced in the US, including the Dodd-Frank Wall Street Reform and Consumer Protection Act enacted in 2010. Globally, including in Singapore, Basel III required banks to have higher capital and liquidity requirements.

The GFC’s warning signs had been missed by the financial markets community, from economists to bankers and analysts.

China’s RMB on the world stage, now & tomorrow

SINGAPORE (Sept 30): Starting Saturday Oct 1, China’s currency will be included in the International Monetary Fund’s (IMF) official foreign exchange reserves database.

This comes nearly a year after the organisation gave the nod on Nov 30, 2015, for the renminbi (RMB) to join the US dollar, the euro, the pound sterling and the Japanese yen in its Special Drawing Rights (SDR) basket.

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