Singapore

Singapore ranks 11th globally as cyber threat source, with 2 mil incidents in 2Q19: Kaspersky

SINGAPORE (July 17): Singapore is ranked 11th globally when it comes to locations with the most number of incidents caused by servers hosted in the country.

In fact, more than two million incidents which originated from servers located in Singapore were uncovered in the second quarter of 2019 alone, says Kaspersky, the cyber security solutions provider.

The report also found that a third of local users came close to being infected by local threats during this period.

Nervous Hong Kong millionaires are moving their cash to Singapore

(July 13): Private bankers are being flooded with inquiries from investors in Hong Kong who are worried about the long-term effects of the political crisis in the Chinese city.

While the Hong Kong government has shelved the controversial law that sparked the latest round of unrest -- one that would have allowed criminal suspects to be transferred to the mainland for trial -- a new tier of wealthy investors are setting up ways to move their money out of the former British colony more quickly, bankers and wealth managers said.

ST Group Food Industries acquires rights to NeNe Chicken brand in New Zealand

SINGAPORE (July 5): ST Food Industries (ST Group) has entered into a master franchise agreement with Hyein Foods Co for the exclusive rights to the ‘NeNe Chicken’ brand in New Zealand.

In an SGX filing on July 4, ST Group announced that the agreement was set to have an initial term of 10 years, with an option for a further 10 year renewal.

Singapore startup Instarem says it will apply for digital banking licence

(July 1): Singapore cross-border payments startup Instarem is seeking partners in the lending business as it prepares to apply for a digital banking license in the city state.

The Monetary Authority of Singapore said on Friday it will grant as many as two digital full-bank licenses and up to three digital wholesale bank licenses.

Singapore Telecommunications, Grab and Razer have expressed an interest since the MAS announcement, but Instarem is the first company to say it will apply for a license.

Singapore to offer up to five digital bank licences

SINGAPORE (June 28): Singapore's central bank said on Friday it would offer up to five digital bank licences to suitable applicants, in a move that could deliver the biggest shake-up in two decades in a market dominated by local banks.

"The new digital bank licences mark the next chapter in Singapore's banking liberalisation journey," said Tharman Shanmugaratnam , senior minister and chairman of the Monetary Authority of Singapore (MAS).

Overall bank lending in May edges up on business loans: MAS

SINGAPORE (June 28): Total loans in Singapore came in at $681.8 billion in May, 0.8% higher than the $676.3 billion in April and 2.1% higher than a year ago, supported by higher business loans.

This according to preliminary data released by the Monetary Authority of Singapore (MAS) released on Friday

Total business loans rose 1.5% month-on-month to nearly $418 billion, thanks to a 3.2% rise in manufacturing loans to $27.7 billion and a 4% rise in general commerce loans to $68.56 billion.

Singapore tests 5G applications with a starting fund of $40 million

SINGAPORE (June 27): Singapore wants to test out its 5G potential with a starting budget of $40 million that will be distributed over a year, with telco operators Singapore Telecommunications (Singtel) and M1 among the first appointed to run pilots on the next generation high-speed mobile internet.

CPF not enough: How will elderly Singaporeans find the $1,379 a month needed to thrive?

SINGAPORE (June 14): Researchers in Singapore have determined that an elderly person living alone would need $1,379 every month to maintain a basic standard of living. But, how will they — and the rest of the ageing population — pay for it?

Crucially, the $1,379 figure assumes good health.

The sum covers an annual $500 holiday, budgets for one restaurant meal a month, and allows the person to buy clothes and accessories for special occasions, as well as gifts for friends.

Get ready to support older Singaporeans, one way or another

SINGAPORE (June 17): Researchers in Singapore have determined that $1,379, down to the dollar, is what an elderly person living alone would need every month to thrive in today’s Singapore. The sum covers an annual $500 holiday, budgets for one restaurant meal a month, and allows the person to buy clothes and accessories for special occasions, as well as gifts for friends.

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Luxury in the air

Long-haul flights have become delightful getaways for Air France’s Business Class passengers, especially with Chef Julien Royer’s exclusive culinary creations for the airline’s daily Singapore-to-Paris flights

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