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SINGAPORE (THE BUSINESS TIMES) - The Singapore Tourism Board (STB) and DBS are partnering to stimulate domestic tourism demand in the immediate term as well as drive cross-border demand and tourism industry development in the middle to long term. They have inked a three-year memorandum of understanding (MOU) in the first such collaboration between STB and a local bank. The tie-up will leverage DBS's services - such as its travel marketplace portal, digital payments collection solutions, predictive analytics and the bank's everyday app DBS PayLah! - to "help ...

ICICI Bank Singapore Branch ICICI Bank Raffles Quay Branch (with 24/7 Remittance Kiosk) 6 Raffles Quay, Singapore 048580 Opening hours: Monday to Friday: 09.30 am – 3.30 pm Saturday, Sunday and Public Holidays: closed Tel: +(65) 67239009 E-mail: sg.service@icicibank.com ICICI Bank Little India Branch (with 24/7 Remittance Kiosk) 184, Serangoon Road, Singapore 218061 Opening hours: Monday, Wednesday to Friday: 2.30 pm – 8.00 pm Saturday to Sunday: 12.00 pm – 8.00 pm Tuesday and Public Holidays: closed Tel: +(65) 67239009 E-mail: sg.service@icici...

Chinese banks are urged to increase its use of the country’s own financial messaging network for cross-border transactions in the mainland, Hong Kong and Macau, reports Reuters. Greater use of the Cross-Border Interbank Payment System (CIPS) instead of the SWIFT system would cut exposure of China’s global payments data to the United States, the Bank of China International (BOCI) said in a report co-authored by a former foreign exchange regulator. Launched in 2015 to help internationalise the yuan, CIPS said it processed $19.4b (CNY135.7b) a day in 2019, with...

```html Understanding PPP Loans: A Comprehensive Guide The Paycheck Protection Program (PPP) loans have been a pivotal financial lifeline for many businesses during challenging times. But what are PPP loans? This blog post delves into the intricacies of PPP loans, their purpose, eligibility, and impact on small businesses. What Are PPP Loans? PPP loans are a part of the U.S. government's response to the economic distress caused by the COVID-19 pandemic. The loans are intended to provide financial support to small businesses, enabling them to keep their workforc...

Credit Suisse Group AG’s APAC business recorded the highest level of credit provisions for potential loan losses across each of the bank’s major divisions, reports Reuters, based on the lender’s Q2 results. The Swiss-based lender made $88.66m in provisions for credit losses in APAC for Q2, down 16% from around $105.96m in Q1. The lender named four individual potential bad-loan cases in the region, up from three in the Q1. APAC accounted for most of Credit Suisse’s loan loss provisions in Q2, ahead of the $84.12m for global markets and around $73.21m in in...

DBS Bank is a financial institution that offers a wide range of banking services to its customers. One of the most common issues faced by customers is a duplicate transaction, which occurs when the same transaction is debited from their account multiple times. This can be a frustrating experience for customers, as it can cause financial stress and impact their trust in the bank. If you have noticed a duplicate transaction on your DBS bank account, it is important to take prompt action to resolve the issue. Here are some steps you can take: Check your transac...

LONDON/HONG KONG (REUTERS) - HSBC has cut a number of top management roles in its investment bank, memos seen by Reuters showed, a sign that chief executive Noel Quinn is pressing on with plans to shake up the group despite having put a wider job cut programme on hold. CEO Quinn last month announced a temporary halt to plans for 35,000 redundancies across the bank because of the impact of the coronavirus pandemic. Quinn, who took on the permanent CEO role in March after a lengthy audition process during which Chairman Mark Tucker courted several external can...

Margins are expected to shrink 6-10 bps compared to Q4 2019. Singapore’s big three banks are expected to post an average 38% YoY fall in earnings for the Q1 period on the back of spiking credit costs and falling credit card income, according to a report by Jefferies. Meanwhile, the banks’ non-interest income is expected to contract by 6-13% YoY, whilst revenue for the three banks will fall 2-4% YoY, due to falling card income, wealth management income, and weak stock prices. Whilst system loans and deposits grew 3.5% and 4.9% YTD respectively, pushed by b...

```html When Do You Get Interest From Banks: A Comprehensive Guide Understanding when you get interest from banks is crucial for anyone looking to maximize their savings or investments. Banks offer various types of accounts, each with its own interest calculation method and payment schedule. In this blog post, we will explore the factors that determine when you receive interest from banks and how you can make the most out of these opportunities. Types of Bank Accounts and Interest Payments Bank accounts can generally be divided into savings accounts, checking a...

The banking sector in Singapore is dominated by a number of financial institutions that offer a range of services to individuals, businesses, and corporations. These dominant banks have established themselves as leaders in the industry, offering innovative solutions and unparalleled customer service to support the growth and development of the country's economy. DBS Bank is one of the dominant players in the Singapore banking scene and is the largest bank in the country. With a focus on innovation and customer-centric services, DBS Bank offers a wide range of s...

```html Discovering the Outer Banks: Where Are Outer Banks Located? If you've ever dreamed of a destination that combines breathtaking natural beauty with rich history and endless adventure, the Outer Banks are likely on your radar. But where are the Outer Banks located? This stunning stretch of barrier islands along the coast of North Carolina in the United States offers visitors a unique blend of serene beaches, wildlife sanctuaries, and historic sites. Let's dive into the specifics of this extraordinary locale. Geographical Location of the Outer Banks The Ou...

HONG KONG (REUTERS, BLOOMBERG) - HSBC Holdings' first-quarter profit nearly halved from a year-ago, missing estimates, after boosting provisions against bad loans as the coronavirus pandemic hits borrowers worldwide. Europe's biggest bank by assets said profit before tax came in at US$3.21 billion (S$4.56 billion) for January-March, down from US$6.21 billion a year ago and below an average analyst forecast of US$3.67 billion compiled by the bank. The bank increased its expected credit impairment charges by a hefty US$2.4 billion to US$3 billion due to the im...

```html Understanding Which Banks Are Open on Public Holidays In today's fast-paced world, banking needs don't take a break, even during public holidays. Whether you need to deposit a check, transfer funds, or seek financial advice, knowing which banks are open on public holidays can save you a lot of hassle. This blog post will explore the availability of banking services during holidays and provide insights into how you can plan your banking activities effectively. Why Some Banks Remain Open During Public Holidays While most banks close their doors on public ...

```html Which Banks Accept Bet365: A Comprehensive Guide In the fast-evolving landscape of online betting, Bet365 stands out as one of the most popular platforms for sports enthusiasts and casino gamers alike. As users flock to this platform, a common question arises: "Which banks accept Bet365 transactions?" Understanding how to fund your Bet365 account smoothly and securely is crucial for an uninterrupted betting experience. In this guide, we will explore the banking options available for Bet365 users and provide insights into which banks support these transact...

ATM machines have been around for a few decades now and have revolutionized the way we handle our money. They have made banking more accessible and convenient, enabling people to access their accounts and conduct transactions 24/7. One of the common transactions that people do at ATMs is depositing cash. This is a convenient way to add funds to your account without having to visit a bank branch. However, some people wonder if ATMs, specifically DBS ATMs, can handle cash deposits. The answer is yes. DBS ATMs are designed to accept cash deposits, and the proce...