Finance

Visa unveils Future of Security Roadmap to strengthen payment security in Singapore

Today, millions of devices are reshaping how payments are made and accepted, and Singapore is at the forefront of this change. On 20 June, Visa, the world’s leader in digital payments, announced its ‘Future of Security Roadmap’ for Singapore, outlining a robust approach for strengthening payments security in the country over the next three years. The roadmap focuses on a …

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DBS Foundation Social Enterprise Grant 2019 opens for submissions

DBS Foundation, the first foundation in Singapore dedicated to championing social entrepreneurship, has launched its 2019 cycle of the DBS Foundation Social Enterprise (SE) Grant. Applications submitted by 31 July 2019 will be evaluated in this cycle (August to September 2019), and successful applicants can expect to receive between SGD 50,000 and SGD 250,000 grants in November 2019. Social entrepreneurs …

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MAS issues Prohibition Orders against former representative of UBS AG for dishonest conduct

The Monetary Authority of Singapore (MAS) has issued 3-year prohibition orders (POs) against a former representative of UBS AG, Singapore branch (UBS) for forging documents and falsified company emails during his employment with UBS. The authority stated that under the POs, Mr Paris Michele is prohibited from performing any regulated activity under the Securities and Futures Act (SFA) and providing any …

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MAS issues prohibition on the offering of loan services by remittance licensees

The Monetary Authority of Singapore (MAS) has issued a prohibition on the offering of loan services by remittance licensees yesterday (10 Jun). Remittance firms are expected to cease offering such services by 10 Sep this year. The prohibition, however, will not apply to existing loans including restructured and refinancing loans, ST observed. A MAS spokesperson told The Straits Times that …

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Singapore seen as one of the easiest countries to do business in Asia

Based on a report by TMF Group, a provider of international administrative services, Singapore is ranked the sixth easiest place to do business in Asia. The Global Business Complexity Index, which compares key administrative and compliance demands across 76 jurisdictions worldwide, found only Thailand, South Korea, Japan, Hong Kong and Taiwan provided a more straightforward environment for firms looking to …

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Visa introduces contactless payment for public transport in partnership with LTA’s SimplyGo initiative

Commuters taking public transport in Singapore will now have the option to tap their Visa contactless cards or compatible mobile devices at MRT stations or buses as a part of the global payment system’s partnership with the Land Transport Authority under the SimplyGo initiative. Covering 30,000 contactless payment acceptance points worldwide, multinational banks such as Bank of China, CIMB, Citibank, …

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F&B entrepreneur Jun Low urges the government to stop landlords from increasing rent rates for tenants to promote healthy economy

Jun Low, the Director of JC Global Concepts, recently took to her Facebook to highlight that the Government should step in to prevent retail landlords from raising their rent rates during every renewal period for the tenants. The food and beverage (F&B) entrepreneur who is behind some of the renowned restaurants in Singapore and overseas like Central Hong Kong Café, …

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