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Business

VISA and AKPK launch “Treat Your Money Right” campaign to inculcate healthy personal financial management practices amongst Malaysians

In conjunction with World Savings Day, which takes place on 31 Oct annually, the Malaysian Credit Counselling and Debt Management Agency (AKPK) has launched an campaign called “Treat Your Money Right” in partnership with VISA on Tuesday (30 Oct). The “Treat Your Money Right” initiative aims to promote the importance of saving amongst Malaysians. Findings from the VISA Financial Literacy Study …

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DBS makes foray into chat commerce with “foodster” – Southeast Asia’s first bank-led retail chatbot

DBS announced the launch of Foodster – Southeast Asia’s first bank-led retail chatbot that allows customers to order and pay for their meals seamlessly via Facebook Messenger and DBS payment channels, namely DBS PayLah! and DBS/POSB cards. Developed by chatbot specialist Every Botty, Foodster has been test-bedded with seven F&B merchants around DBS’ Marina Bay headquarters and said to have shown strong results. The initiative marks …

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Grab to guarantee its driver-partners gross monthly incomes of $6,888 to $11,888 before costs deduction following impending entry of rival Go-Jek

Controversial ride-hailing platform Grab has announced its plans to introduce a guaranteed income scheme for its driver-partners, following the news that Jakarta-based rival Go-Jek will be entering the Singapore market at the end of November this year. Findings from an online poll conducted by Facebook group Singapore Private Hire Car Drivers & Riders Community revealed that 86 per cent of …

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UnionPay cards issued outside mainland China, exceeds 100 million

UnionPay International announced on Thursday that the number of UnionPay cards issued outside the Chinese Mainland has exceeded 100 million. The volume of transactions made with these overseas-issued UnionPay cards has grown by over 40% during the first three quarters of this year. In some markets outside mainland China, over 90% of the transactions made with locally-issued UnionPay cards happen …

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Temasek pays US$250m for 3-yr-old Israeli cybersecurity firm when original investor only put in US$4.3m

Reuters reported yesterday (16 Oct) that Temasek Holdings is buying Israeli cybersecurity technology and services provider Sygnia. Financial details were not provided but a source with knowledge of the deal, who asked not to be named, told Reuters that Temasek is paying US$250 million. Sygnia, which has offices in Tel Aviv and New York, will maintain its operational independence while …

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What extent is the liability of a personal guarantee for business loan

There are countless reasons why SME owners would apply for a business loan. It may be because you want to take advantage of a business opportunity that rarely comes by and you have to grab that chance. You may also need emergency funds to bail you out of a potential cash flow problem. It’s also possible that your business plans …

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StarHub to retrench 300 permanent staff members as part of its restructuring programme, citing “intense” competition

Following its "strategic transformation plan," telecommunications giant StarHub has announced that it will be reducing its workforce. In a press release dated 3 Oct, StarHub reasoned that the retrenchment of some "300 full-time employees" serves as a part of its "operational efficiency programme". The "strategic review process," stated the company, aims to increase "productivity" and "speed in decision making," as …

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DBS Bank and FPAS announce first of its kind partnership to promote financial planning, CFP certification

Financial Planning Association of Singapore (FPAS), part of the global assembly of the Financial Planning Standards Board (FPSB) in the US, and DBS Bank today announced a partnership to develop training and assessment programs for more than 1,000 wealth planning managers within the bank. This is the first time FPAS is collaborating with a bank for a large-scale training programme. …

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