Category: DBS Bank

Singapore Yuan Hub Set to Grow Furthe

The offshore yuan market faced a rocky patch following Beijing’s shock devaluation in August, but the push to internationalise the currency has lost little momentum, according to The Strait Times. Similarly, Singapore’s role in the growth of the yuan is likely to continue unabated. The general manager of ICBC Singapore,… – Continue reading

DBS China picked to test yuan payment system

DBS Bank’s Chinese unit has been chosen to be among the first group of banks to test a new international payment system that promises faster transactions for businesses using the yuan. The Cross-border International Payment System (CIPS), launched yesterday, is seen as a big step towards making the yuan a… – Continue reading

Private banking: Singapore, Indonesia in private banking tug-of-war

Indonesians hold $300 billion in Singapore; controversial tax amnesty on the cards. Indonesia’s finance minister Bambang Brodjonegoro told Euromoney earlier this year that tax collection falls way short of targets and must improve to provide funding for infrastructure and other projects It doesn’t take much for Indonesia’s government officials to… – Continue reading

How the Isle of Man aims to become the bitcoin capital of the world

Ireland might learn as the Isle of Man positions itself as the new bitcoin capital of the world While bitcoin is attractive because of its inherent decentralised nature, it has struggled to be perceived as a legitimate currency, given the lack of accountability and total absence of someone or something… – Continue reading

Firms may raise record $20 bn via offshore bonds in ’15: Vijayan Subramani

Indian companies had raised a record $18.6 billion in 2014 through offshore bonds. This year, it may cross $20.50 billion, says MD, Treasury and Markets, India, at DBS Bank Vijayan Subramani. In an interview with Bhavik Nair, Subramani indicates Singapore dollar-denominated bond issues from India are likely to make a… – Continue reading

Asian cities attract more overseas money than Switzerland

Jeremy Grant in Singapore Clampdowns on bank secrecy in Europe and a proliferation of billionaires in Asia helped Hong Kong and Singapore attract more overseas money over the past two years than rivals such as Switzerland, according to a report by Deloitte. The consultancy’s annual ranking of wealth centres highlights… – Continue reading

DBS Bank launches US dollar investment program in support of currency appreciation

DBS Bank is scheduled to launch a U.S. dollar fixed deposit program for Taiwanese investors intrigued by the recent drop in the United States’ financial deficits, said Seraph Sun (孫可基), head of Consumer Banking at DBS Bank (Taiwan). According to Sun, DBS Bank deems 2015 a hopeful year for the… – Continue reading