GIC raises Citigroup stake to 11.1 per cent
US$6.88b in preferred shares converted to common shares.
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GIC cuts loss in one fell swop
Conversion of its Citigroup preferred shares into common stock will pare paper loss from US$5.5 billion to US$1.67 billion. |
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Thrift stores thriving in downturn
More are donating to Salvation Army. -TNP
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Courts prepare for 'recession crimes'
Spike in criminal and civil cases are expected in recession times. -ST |
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More pain to come for Big 3 banks
Net interest income will not race ahead: Analysts. -ST
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Computer glitch spills wealthy clients' financial info
Wealthy customers from Hong Kong and Singapore saw details of others' online accounts. -myp |
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Laws keep bank clients' data sacred
Banks have a duty under the Banking Act to keep clients' details strictly private and confidential. -myp
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Prestige shelved in favour of rewards
Practicality and extensive programmes are some of the things our readers look out for in credit cards.
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No respite for stock markets
Wary investors are waiting for US & Europe banks to stabilise. -ST
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Family sues HSBC over forex account
Bank forced them to close a US$24m foreign exhange investment account, resulting in losses as well as depriving them of profits. -ST |
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Banks cut interest rates for deposits
Move follows Sibor's plunge and reflects flush conditions in money markets, analysts say. -ST
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Aviva logs 885m pound loss
Insurance giant cites the falling value of assets in the financial crisis. -AFP
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Recession Hero helps others out
Consultant finds great joy in guiding out-of-work people to identify their strengths - and he does it for free. -ST
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Insurer reassures policyholders here
Restructuring of parent won't affect American Home Assurance's ability to meet claims. -ST |
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SGX defends move to ease fund-raising for firms
Controversial move gives listed firms more leeway to raise funds with less hurdles. -ST
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AIG S'pore unit boosts capital ratio to 205% for reassurance
Customers reassured that AHAC is financially sound despite parent company's woes. -BT |
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S'pore still No. 3 financial centre
Other leading cities were London at No. 1, with New York at No. 2. -ST
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Local banks rise up global ladder by slipping less
S'pore banks close the gap with international icons, but may have further to fall. -BT |
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Maybank home loan deal may spark refinancing war
Bank announced 3 year fixed rate home loan plan with attractive interest rates, free legal and valuation fees thrown in. -BT
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OCBC woos bond-holders with exchange offer
New instruments with 10-year tenure offered in place of all existing bonds. -ST |
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Be on guard, life insurers advised
MAS deputy chief warns of fraud and other risks as downturn takes hold. -ST
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Record loan approvals
But amount disbursed still only a small fraction of total business lending. -ST |
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CPF cut won't work in this downturn
Today's problems are due to steep and rapid decline in global demand, making CPF cuts the 'wrong medicine'. -ST
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Stanchart rides high on wholesale banking
Operating income hits US$1.43b, up 60% from 2007. |
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Act quickly to halt negative spiral: MAS
Political consensus has to emerge so policymakers can take decisive action. -ST
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Who got AIG's bailout billions?
The U.S. Federal Reserve has refused to publicize a list of AIG's derivative counterparties and what they have been paid since the bailout. |
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Swiss minister rejects U.S. demand for UBS data: report
Swiss banks are forbidden by law to divulge information on clients. -Reuters
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Customers have peace of mind
DBS' response to being rated Asia's safest bank. -TNP |
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Stanford CIO's fast path to top a red flag
Laura Pendergest-Holt is now accused of participating in a $12.39 billion fraud. -Reuters
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Lower age for Lease Buyback to 60
There are many seniors who are offered a golden handshake in their 50s. -myp
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No compromise with banking data
Bank staff should be reminded of the importance of maintaing and preserving integrity and security of bank. -myp
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Pay less for utilities from next month
Families can save up to $54 monthly, as tariffs till June are at four-year low. -ST |
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Filing returns a less taxing affair now
Half a million taxpayers under automated service need not lift a finger. -ST
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$5.7m recovered in taxes, penalties
Iras uses twin-pronged efforts to catch under-declared and educating those who need help. -ST |
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How to avoid tax tangles
Common mistakes in filing tax returns involve rental income and claims for child and parent relief. -ST
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HSBC plunges 24%
Despite its relative strength, shareholders worry over financial headwinds and $96b of unpaid loans. -Reuters
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S'pore 10th most expensive city
It was one of three Asian cities that made it into the top 10 list on a cost of living survey.
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She takes $10,000 in deposits but keeps flat
Seller says sale amount too low. |
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Why aren't S'pore banks cutting rates?
With Singapore in the worst recession ever, why do banks not cut their prime and mortgage rates? -ST
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Little to cheer about for depositors
Savings interest rates unlikely to rise soon as banks cut costs to stay lean. -BT |
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Chartered shares suffer steepest fall in a decade
Investors bailing out on news of US$300m rights issue, and poor industry outlook. -BT
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MAS seeks feedback on investment-product rules
Public feedback wanted to tighten industry standards of unlisted investment products. -myp |
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Equity fund index launched
This is the first of its kind in Singapore. -AsiaOne
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Workers to raise $1m for the retrenched and needy
Unions, taxi associations hope to raise amount by first half of the year. -ST |
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Double money? 8 lose $300k instead
They make police reports about being duped by investment manager of a trading firm. -ST
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20 investors in Minibonds limbo
Some investors fell through the cracks of the complaints resolution process set out by MAS. -ST |
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11% of firms paying above-target bonuses
But the sums are likely to come from smaller pool: Hewitt. -BT
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Changes affecting customers
Investors will be more informed with the new regulations to curb mis-selling of investment products. -ST |
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Changes affecting banks
Banks will have to be more responsible on the investment products they market. -ST
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Allow partial CPF withdrawals now
Financial woes are taking place now, not in the future. -ST |
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Insurers less ready to handle changes in risk landscape
Top risks all closely related to global downturn: survey. -BT
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Enhancing MAS' powers
MAS will have more power to take action on firms who mis-sell investment products. -ST |
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Three proposals from MAS on sale of structured products
Tighter rules and tougher laws to protect consumers with proper disclosure and advice. -ST
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Strict rules to protect investors proposed
Following Lehman fiasco MAS drafts measures to curb mis-selling. -ST |
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Bailed-out AIG plans bonuses worth millions: report
CEO says bonuses could not be cancelled due to a risk of lawsuits for breaching employment contracts. -AFP
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Banks gear up for soft loans market
New products, system tweaks to tap lower-income pool. |
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ATMs to get security boost
To stem the rash of thefts, banks are quickly spending on reinforcing ATM security to restore customer confidence.
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Protect yourself from ATM skimmers
Learn some tricks to protect yourself from such fraud. |
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Switch banks? You must be kidding
Elderly or seniors are shunned by banks, which pour credit favors on the young - who overspend, create debt and financial problems. -ST
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Better be safe than sorry
S'poreans shun stocks for bank deposits, which are guaranteed until end of 2010. -ST |
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Savers may have to pay banks next, experts warn
Low interest rates for borrowers also translates to to low interest rates for depositors. -ST
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8 things to know about the review
A brief run-through of what the review for complex investment products entails. -ST |
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S'pore economy to rebound in 2010
3.3% growth expected, but outlook this year still gloomy, say forecasters in MAS poll. -myp
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All ears at financial management talks
Participants analysed their budgets, got tips on how to remain debt-free. -myp |
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Clueless about managing money
They may be young, educated and tech-savvy, but a significant number of tertiary students here are next to clueless about managing their finances. -myp
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Credit report? What's that?
NTU study indicates growing need to educate young S'poreans about credit. -myp
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Lifting bank secrecy veil may help Singapore
Relaxing bank secrecry rules will spell trouble for tax evaders. -BT
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SGX has to beef up its gatekeeper role
Recent S-chip scandals point to need for tighter checks and ways to fix cross-border problems. -ST |
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Be prudent about unsolicited loans
Consumers must be careful and not be enticed by banks offering loans and credit cards. -myp
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DBS plans scrip scheme
It will mean more choice for shareholders, who can opt for dividends in a mix of cash and shares. -ST |
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New AXA Life policy to help retrenched workers
Unemployment 'benefit' programme to help maintain insurance for retrenched or get 100 per cent refund. -BT
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Citibank gives discount on loans to top S'pore students
Eligible students will get a 0.5 percentage point discount on the interest of their loans after completing their studies. |
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AIG execs should quit or commit suicide
One US senator vented this on radio as AIG uses taxpayer bailout money to pay millions in bonuses sparks public outrage.
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Looking up with CPF top-ups
CPF records $158m in 2008 top-ups, more than double the previous year. |
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Credit squeeze as banks tighten home loan criteria
The hard hit real estate market is forcing lenders to re-assess their loan criteria.
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Trading 'expert' faces more refund claims
Another 122 people go to tribunal to get back course fees paid to him. -ST |
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Insurers urged to be more prudent
Mounting losses in motor insurance industry gives rise to higher premiums. -ST
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Big earners buck cut-back trend
US 'recession angels' give cash, time to community.
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The keys to nation's wealth
What makes up the reserves? What is in place to safeguard them? How have they been redefined and when can they be tapped?
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What are current and past reserves?
Confused? Find out here. |
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OCBC, DBS, UOB, HSBC win Asian Banker awards
Banker says market condition will continue to be challenging.
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AIG bonus payments - US$218 million
This was more than the previously disclosed US$165 million. -Reuters
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Debt-free women
Almost 70% of Malaysian women believe that it was important to know about financial products and services. -NST
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The 'big spenders' are getting smart
Most Malaysian women are not risk takers in financial planning choices. -NST
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Feeling the pinch
Diners are changing their eating patterns or seeking better deals elsewhere, but there are also positive developments amidst the gloom. -BT
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A-Z of the credit crunch
The alphabet guide to knowing your recession. -ST |
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5 issues to beware of in the coming year
5 monetary issues to brace yourself for in the months ahead. -ST
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5 people who will matter most in 2009
A poll of 10 economists, academics and market watchers reveals who they think will make a difference in the coming year. -ST |
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5 areas that will figure the most in 2009 and why
The places that will matter the most for the coming year ahead and the reasons to watch for them. -ST
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History in the making
The timeline of key events of 2008 and 2009 that brought the global economy to the brink. -ST |
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Post-Crisis World
Economists and academics paint a picture of the world after a devastating financial crisis. -ST
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S'pore dividend yields seen falling this year
LAST year's dividend yields among many Singapore stocks rose to their highest levels in five years due to the plunge in stock prices - but analysts expect yields to come down this year.
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Show me the money
LOOKING at how the financial crisis has evolved so far, it is perhaps a given that it will take quite some time before market sentiment begins to improve. Most houses seem to be in consensus that the markets will take an upswing only towards the second half of 2009.
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Heroes and zeroes : part one
Individuals who have done most to boost world confidence and done most to destroy it. -ST
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'S'pore Madoff' cons investors of nearly $900,000
Yugoslav derivatives trader takes money from one victim to pay another.
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They pay money to learn to make money
Financial training courses in demand despite volatile markets; experts warn against get-rich-quick mindset. -ST |
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Offers for Lehman investors: 79% accepted
Only 1.5% had rejected settlement offers for failed investment; the rest have yet to make decision. -ST
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Bequests vary according to CPF Life plan
3 out of 4 of these plans allow for a contributor to bequeath his savings to his beneficiaries if he dies while still on the CPF Life scheme. -ST |
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Stanchart offers Visa card with up to 10 times of credit limit
Through the Visa Infinite card, the bank is taking advantage of recently relaxed unsecured lending rules to provide customers who earn more than $120,000 per annum. -BT
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Heroes and zeroes : part two
Individuals who have done most to boost world confidence and done most to destroy it. -ST
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He makes $1.7b amid credit crisis
But investor George Soros ranks only 4th on top hedge fund managers list. -TNP
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Loss of secrecy won't hurt banks in S'pore
The Republic and Switzerland will still be attractive private banking centres. -BT |
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Minibonds: Bank adamant despite MAS advice
Couple had invested a total of $400,000 after being persuaded by the bank's relationship manager to switch to the Minibonds investment. -ST
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Policyholders can expect bonus cuts
Lower bonuses to be expected this year due to crippled equity markets. -ST |
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Brother to pay sister $2m over share dispute
Sister's testimony corroborated by those from previous cases. -ST
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Too good to be true?
Membership package not only allows for leisure, online gambling and redeemable for cash, if you recruit enough members you could even be a millionaire. -TNP |
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What others say
Industry professionals comment on the membership package. -TNP
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Earn $15 million a year? He didn't buy their line
NS man did not believe in the 'elite lifestyle activities' promised if he became a member of club. -TNP
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CIMB Wealth forms alliance with AIA
Tie-up will enable a holistic approach to financial planning.
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The dangers of printing money
Done excessively, hyper-inflation can ensue; US bond buyers nervous. -ST |
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S-chips under greater scrutiny
Auditors are focusing more attention on risky areas, such as cash flow. -ST
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Mortgage payments worry S'poreans; expats fret over pay
Survey of 212 Singaporeans and expats shows low level of confidence in economic recovery. -BT |
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Rebates the main draw for Everyday card
Consumers want to get something back when they spend using their card.
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