Category: Business

Transparency and accountability in executive pay take center stage following DBS service outages.SINGAPORE: NUS Business School Professor of Accounting Mak Yuen Teen has called for greater oversight and transparency regarding senior management salaries, particularly following the recent disclosure of DBS CEO Piyush Gupta’s S$4.14 million pay cut due to last year’s service outages.In a commentary …

Face-to-face interactions remain essential even as technology reshapes business landscapes.SINGAPORE: A recent HSBC report reveals that 89% of Singapore-based businesses place high importance on the "human touch," particularly in corporate banking. According to Singapore Business Review, the report emphasizes the critical role of personal interactions in key business functions, such as identifying growth opportunities, seeking …

The TikTok chief navigates political skepticism while reaffirming his roots in Singapore.SINGAPORE: TikTok CEO Chew Shou Zi, head of the world’s most popular social media platform, has repeatedly made one thing clear: he is proudly Singaporean. But this hasn’t stopped political skepticism, especially from U.S. lawmakers, about his affiliations due to his company’s ties to …

Market sees declining volume but resilient pricing trendsSINGAPORE: The resale home market in Singapore faced significant challenges in the fourth quarter of 2023, with transaction volumes plummeting to a three-year low of 2,586 units. This marks the lowest quarterly sales figure since the second quarter of 2022.On a broader scale, 2023 witnessed an 18.4% year-on-year …

State banks sell dollars and tighten offshore liquidity to curb yuan’s slideSHANGHAI/BEIJING: In a bid to stabilize its currency, China’s major state-owned banks intervened on Monday by restricting offshore yuan liquidity and actively selling U.S. dollars in onshore markets, according to four sources familiar with the matter.The efforts come as China's A shares suffered their …

Hillhaven and The Arcady attract interest, but buying sentiment remains cautiousSINGAPORE: The first two condominium launches of 2024—Hillhaven and The Arcady—saw moderate sales over the weekend, with only about one-third of the units sold.Hillhaven, a joint development by Far East Organization and Sekisui House in District 23, launched on Saturday (Jan 20). By 6 PM, …

Exploring the statutes, implications, and penalties tied to his case.SINGAPORE: Former Transport Minister S. Iswaran pleaded not guilty on Thursday (Jan 18) to multiple charges involving bribery and corruption. This follows a six-month-long investigation by the Corrupt Practices Investigation Bureau (CPIB) into his alleged misconduct and his connections with property tycoon Ong Beng Seng, a …

Ex-BOJ economist Eiji Maeda predicts gradual steps toward monetary policy normalization.TOKYO: The Bank of Japan (BOJ) may terminate its negative interest rate policy as early as April, but any further steps toward normalizing its ultra-loose monetary stance are expected to be gradual, according to former BOJ executive and chief economist Eiji Maeda.Speaking at a news …

The new economic zone aims to enhance connectivity, streamline border processes, and boost regional economic cooperation.JOHOR BAHRU: Singapore and Malaysia have signed a Memorandum of Understanding (MOU) to establish a Johor-Singapore Special Economic Zone (SEZ), designed to deepen economic ties and improve cross-border connectivity.The MOU, signed on Thursday (Jan 11) by Singapore’s Minister for Trade …

The leaders advance cross-border connectivity and economic collaboration through two transformative projects.SINGAPORE: Prime Minister Lee Hsien Loong and Malaysian Prime Minister Datuk Seri Anwar Ibrahim underscored their commitment to two landmark projects on Thursday (Jan 11), solidifying ties between the neighboring nations.The leaders met to discuss the Rapid Transit System (RTS) Link and the Johor-Singapore …