Retail investors can apply for the first issue of the much-anticipated Singapore Savings Bonds from September 1, said the Monetary Authority of Singapore (MAS) on Tuesday (July 21). The first Savings Bonds will be issued on Oct 1 and MAS said it could potentially issue between $2 billion and $4 billion worth of such bonds this year, depending on demand.
Singapore's financial sector grew 7.7 per cent last year, as assets under management rose to a record high, the Monetary Authority of Singapore said on Tuesday when announcing its latest annual report. AUM rose 30 per cent from $1.8 trillion in 2013 to over $2.3 trillion in 2014, while foreign exchange trading jumped 40 per cent year-on-year to US$480 billion in October 2014, MAS managing director Ravi Menon said, adding that Singapore already commanded 60 per cent of infrastructure financing transactions in Asean.
Homeowners hoping for an end to the Government's property cooling measures and a rebound in home valuations must keep waiting. The Monetary Authority of Singapore (MAS) said Tuesday that the measures - including a total debt servicing ratio (TDSR) framework implemented in June 2013 - are unlikely to go any time soon.
State investment firm Temasek Holdings has tied up with lender UOB to offer up to US$500 million (S$686 million) in venture debt loans over the next five years to Internet startups in China, India and Southeast Asia.
Toshiba president Hisao Tanaka and his predecessor Norio Sasaki quit the company on Tuesday as one of Japan's best-known firms was hammered by a US$1.2 billion (S$1.6 billion) accounting scandal blamed on management's overzealous pursuit of profit. The two men were among eight high-level executives at the sprawling conglomerate to take the fall, resigning after an independent report found senior management complicit in a years-long scheme to pad profits.
To tourists wandering the narrow streets of central Athens, 20 cents on the price of souvlaki - a Greek favourite of grilled meat on a skewer - may not seem much. But for waiter Stavros Giokas, Monday's jump in value-added tax is a big worry. The VAT rise, demanded by Greece's lenders in return for a rescue deal, forced the restaurant where Giokas works to push up the price of souvlaki - wrapped in flatbread with salad and drizzled in tzatziki garlic yogurt - to 2.40 euros (S$3.55) from 2.20.