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Barclays readies hundreds of job cuts in investment bank

BARCLAYS is preparing to cut several hundred jobs within its investment bank division as the firm embarks on a yearslong efforts to trim costs and boost profits within the unit, according to sources familiar with the matter.

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MAS to enhance transparency, data availability of SORA to catalyse greater activity

THE Monetary Authority of Singapore (MAS) will prescribe the Singapore Overnight Rate Average (SORA) as a financial benchmark under the Securities and Futures Act (SFA), as well as enhance its transparency and data availability, as part of a slew of measures to support the adoption of the...

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Citigroup hikes 2023 global growth forecast, sees US recession only in Q4

CITIGROUP raised its 2023 global economic growth forecast to 2.4 per cent, citing “solid” performance in the US, euro area and China, and also pushed out its expectation for a US recession to the fourth quarter of the year.

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S$35m grant to help smaller financial institutions adopt digital solutions

THE Monetary Authority of Singapore (MAS) on Monday announced the launch of a S$35 million Productivity Solutions Grant (PSG) to help smaller financial institutions adopt digital solutions for "more streamlined data reporting" to the regulator.

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Nomura cuts entertainment budget as rising costs hurt profit

NOMURA Holdings slashed its entertainment budget for executives, people familiar with the matter said, as it stepped up efforts to rein in costs after some tough-going quarters.

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US dollar buffered by Trump policy expectations; Bitcoin surges

The US dollar steadied on Thursday (Nov 21) as traders awaited clarity on US President-elect Donald Trump’s proposed policies amid an uncertain...

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Goldman planning another round of job cuts amid chill in banking

GOLDMAN Sachs Group is considering another round of job cuts amid a muted dealmaking environment that has dented revenues across Wall Street.

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ECB to impose first-ever fines on banks for climate failures

THE European Central Bank (ECB) is set to take the unprecedented step of imposing fines on several lenders for their protracted failure to address the impact of climate change.

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Time for Singapore premium to outshine Swiss finish

WEALTH managers and private bankers expect a step-up in client requests and fund movements this year, as the strength of Singapore’s financial system earns a premium amid widespread banking industry turmoil.

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Malaysia central bank to hold rates through 2024 despite weak currency: poll

MALAYSIA’S central bank will hold its key interest rate at 3 per cent on Thursday and through 2024, despite a weakening ringgit, amidst stable domestic inflation and a steady growth outlook, according to a Reuters poll of economists.

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