Economy estimated expanding 2.7% this year, after growing 1.1% in 2023, according to rating agency. Fitch Ratings said Friday it affirmed Singapore's long-term foreign-currency issuer default rating at AAA with a stable outlook. The country's rating reflects "its exceptionally strong fiscal...
The banking groups have publicised plans to jointly acquire payments processing technology for card holders and merchants. BPCE and BNP Paribas this week announced their strategic partnership project to address the unprecedented development of payment infrastructures and its future prospects....
The UAE economy's growth in 2023 was stronger than the most recent estimate, driven by non-oil sector growth. The Arab world’s second-largest economy expanded by 3.6 per cent last year, compared to the 3.1 per cent estimated by the Central...
The platform integrates regulatory and climate data from corporate disclosure documents. The Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS) developed a blueprint for a platform integrating regulatory and climate data to aid financial authorities in...
DBS, OCBC, and UOB have set S$200b loan portfolio emissions targets. Singapore's major banks, DBS, OCBC, and UOB, have set sector-specific emissions reduction and net-zero targets for their indirect financial activities, known as Scope 3 financed (lending and investments) and...
Strength of U.S. economy will support global growth of 2.6% this year. The World Bank upgraded its outlook for the global economy, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States. The...
KPMG has in its latest report outlined the three biggest risks for businesses right now, which may impact operations in 2024 and near future. Fighting an uphill battle to achieve long-term sustainability, international organizations are witnessing a slow-down in growth. Through...
This grew by 8.1% on a year-on-year basis. By the end of the first three months of the year (Q1 2024), China’s banking institutions' total RMB and foreign currency assets reached $60.14t, an 8.1% increase year-on-year (YoY), data from the...
Consumption remains sluggish despite wage hikes. Japan's economy shrank at an annualized 1.8% from January to March compared to the previous quarter, according to revised figures by the Cabinet Office, up from a 2% drop announced last month. The revised figure...
Easing financial pressures are expected to slow decline in credit quality, boost loan demand. Last week’s rate cut by the Bank of Canada is set to slow the deterioration in banks’ credit quality over the past year and may reignite...
