Reporting and analysis on retail, e-commerce, and consumer trends in Singapore, updated continuously by our newsroom.
The city-state’s unicorn businesses take an average of 6 years and 11 months to reach the valuation of $1 billion. Singapore is the joint fourth best country in the world for unicorn start-ups, according to a recent study by credit broker Money.co.uk, with…
The bourse attributed its weaker performance to higher expenses increased and declining treasury income amid a low-interest rate environment. Singapore Exchange’s fiscal full-year net profit fell 6 percent year-on-year to S$445.4 million ($329.5 million),…
Two Singapore startups will help the payment giant accelerate innovation around digital asset technology. Singapore-based Mintable, a non-fungible token (NFT) marketplace; and Stacs, which provides a blockchain infrastructure for the financial industry to…
Despite market volatility and regulatory pressures, the outlook for crypto adoption remains positive especially in Singapore where nearly half of its residents own the digital asset class, according to a survey. 43 percent of Singaporeans own cryptocurrency,…
Strong asset performance amid the pandemic and exits through initial public offerings by portfolio companies boosted the fund’s performance. GIC, whose investment performance is measured using a rolling 20-year real rate of return, posted an annualized USD…
Covid-19 measures will be tightened again from Thursday (July 22) to Aug 18, as the city-state tries to stem a spike in community cases. Singapore is scaling down social gatherings to a maximum of two and banning dining out amid a spike in Covid-19 infections…
Singapore Myanmar Investco (SMI) will develop a cryptocurrency cloud-mining platform with The9, according to a memorandum of understanding signed by the two sides. The mining business is expected to be launched in the fourth quarter of the year, subject to…
The bank will be incorporating environment, social and governance (ESG) factors when assessing loan financing, as part of its push for sustainable investing. The loan quantum for investment financing will be higher for mutual funds that are rated AAA or AA in…
Speaking at the opening address of the ATxSummit, Singapore Deputy Prime Minister and Coordinating Minister for Economic Policies, Mr Heng Swee Keat announced that Singapore will be stepping up investments to unlock the full potential of the digital…
He brings extensive knowledge of the regional wealth management industry, as well as the North Asia market, from his experience as a team leader for other global wealth managers. Indosuez, the global wealth management brand of Crédit Agricole Group, has…
Singapore’s OCBC has created more than 50 sustainability-related jobs over the last two years as part of a broader plan to internally promote the space. The 50 jobs span across sustainable business development, sustainable product development, sustainability…
The bank has appointed five locals to senior positions across Asia Pacific in various business groups, according to an announcement. Chan San-San, who joined Citi in 2003, was appointed private banking high net worth head for Asia Pacific, effective July. She…
Singapore retail sales (excluding motor vehicles) increased 61.7 percent in May, but the figure was skewed significantly by the low base of the previous year when Covid-related movement orders effectively shut the offline retail sector down for a whole month.…
British activewear retailer Sweaty Betty has made its Singapore debut, more than two years after entering Asia. Located in the city’s Ion Orchard mall, Sweaty Betty Singapore offers a full range of its lifestyle and activewear, including Pride Collection and…
Almost half (47 percent) of all financial institutions in the republic have invested in banking-as-a-service in the last year, and 45 percent are looking to do so in the next 12 months, according to a new survey by Finastra. Financial institutions (FIs) in…
Bank of Singapore has lost an industry veteran and market head for Greater China, sources said. Greater China market head Richard Hu has left Bank of Singapore, sources said, after joining in the role two years ago. Hu is an industry veteran with more than 20…
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