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BlackRock's biggest investor PNC sells its stake after 25 years

NEW YORK (BLOOMBERG, REUTERS) - PNC Financial Services Group will sell its stake in BlackRock Inc, more than two decades after it bet on the business that became the world's largest asset manager. PNC will exit its investment, worth about US$17.3 billion (S$24.5 billion), with a public secondary offering, it said on Monday (May 11). As part of the transaction, BlackRock will buy back US$1.1 billion of the shares directly from the firm. PNC holds 22 per cent of BlackRock's outstanding shares, making it the largest holder. The separation comes 25 years after P...
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Tips for Managing Your Personal Finances in the Current Economic Climate

1. Create and Stick to a Budget A well-structured budget helps you track your income and expenses. Prioritize essential expenses such as rent, utilities, and groceries while allocating a portion of your income towards savings and investments. 2. Build an Emergency Fund Having a financial cushion can protect you from unexpected expenses like medical emergencies or job loss. Aim to save at least three to six months’ worth of living expenses in an easily accessible account. 3. Reduce Unnecessary Expenses Evaluate your spending habits and cut back on no...
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First-Rate Banks in Singapore

Singapore is home to a thriving financial industry, where first-rate banks offer a comprehensive range of services to individuals, businesses, and corporations. These banks have established themselves as leading players in the industry, offering innovative solutions, exceptional customer service, and a deep commitment to helping their clients achieve their financial goals. DBS Bank is one of the first-rate banks in Singapore, and is the largest bank in the country. With a focus on innovation and customer-centric services, DBS Bank offers a wide range of service...
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Digital payment for businesses saves time, makes accounting easier

SINGAPORE - Dough fritter company Xi De Li director Adrian Koh used to spend about 20 minutes at each of his customers' stalls around Singapore to collect and count his payment. He makes about 10 visits a day before bringing the money back to his office in Kaki Bukit where staff from the finance department will spend about six hours of their workday collating the cash brought in and printing out invoices, among other duties.
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OCBC Singapore to hand out $698m in SME loans by 30 June

The bank will pass all cost savings to SMEs by lowering the interest rate. OCBC Singapore is expected to disburse $698m (S$1b) in government-assisted SME loans by 30 June under the Monetary Authority of Singapore’s low-cost SGD Facility. The loan amount projected for the three months from April to June will exceed the total government-assisted loans disbursed to the same customer segment during the 2008-2009 global financial crisis. Almost 1,000 SMEs have asked for deferment of principal payments on unsecured and secured loans, OCBC said. The bank will pa...
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Citi Singapore to offer summer interns a full-time job after graduation

SINGAPORE - Citi Singapore will offer all summer interns full-time analyst roles when they graduate as long as they meet certain minimum requirements, the bank said on Wednesday (April 22). The initiative, which is aimed at supporting fresh graduates during the pandemic, will benefit 76 interns. Around 80 per cent are in their penultimate year at local institutes, including the Nanyang Technological University, the National University of Singapore (NUS), the Singapore Management University and the Singapore University of Technology and Design. The rest ar...
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The Role of Banks in Singapore's Economy

Banks play a crucial role in Singapore's economy, serving as the backbone of its financial system. The country's banking sector is highly developed, sophisticated, and diversified, with both local and international banks operating in the country. Here are some key aspects of the role of banks in Singapore's economy: Intermediation and Credit Allocation: Banks in Singapore play a critical role in intermediating between savers and borrowers, channeling savings into productive investments. They provide credit to businesses, households, and individuals, fa...
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HSBC Singapore

HSBC is one of the British banks which also operates in Singapore. The bank has 11 branches as well as 5 premier center in the country. In addition to this, there are 29 HSBC ATM in Singapore. You can find the addresses of these ATM in the following. The bank is known as one of the best banks in the nation. Today, HSBC operates in most of the countries in the world which founded in 1865. It began to operate in Singapore in 1977 and it still continues to serve today. Today, the bank has more than 4,400 branches in total. HSBC is the fourth biggest bank in the world...
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Significant Banks in the Singapore Financial Industry

The financial industry in Singapore is dominated by a number of significant banks that offer a comprehensive range of services to individuals, businesses, and corporations. These banks have established themselves as key players in the industry, offering innovative solutions and exceptional customer service to support the growth and development of the country's economy. DBS Bank is one of the significant banks in the Singapore financial industry and is the largest bank in the country. With a focus on innovation and customer-centric services, DBS Bank offers a wi...
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How to get dbs bank statement

DBS Bank is one of the largest banks in Singapore, with a global presence in several countries. As a customer of DBS Bank, you may need to obtain a bank statement for various reasons, such as for tax purposes, loan applications, or financial planning. In this blog post, we will guide you through the process of obtaining a DBS Bank statement. Method 1: Through DBS Bank Internet Banking The most convenient and fastest way to obtain your DBS Bank statement is through the bank's internet banking platform. Here are the steps to follow: Log in to your DBS Ba...
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EQ Insurance

EQ Insurance may be a Singapore-based multinational insurance company with profitable portfolio of non-life insurance business. The company’s core values are to make sure that customers enjoy a seamless enquiry, application and payment process, and enjoy quality products, advice and consistent information when purchasing a policy or enquiring on a claim. Company's insurance products and services Insurance Plans for Individuals: EQ Travel EQ Motor EQ HomeGuard EQ Hospital & Surgical EQ Hospital Income & Medical EQ Maid EQ Personal Acciden...
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calvin banks learns what stepdad really does for a living

```html Calvin Banks Learns What Stepdad Really Does for a Living In the heart of every family lies a myriad of secrets, some benign and others surprisingly life-altering. For Calvin Banks, a curious teenager with a knack for uncovering truths, the revelation of his stepdad's true profession was both shocking and enlightening. This blog post delves into the intriguing journey of Calvin Banks as he learns what stepdad really does for a living and how it changes the dynamics of their family. The Suspicion Begins Calvin had always wondered about his stepdad's occu...
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How Do Student Loans Work? A Beginner's Guide

Student loans are a popular way to finance higher education, especially for students who cannot afford tuition, books, and living expenses upfront. If you’re planning to take out a student loan or simply want to understand the process, this guide breaks it down step by step. What Are Student Loans? Student loans are a type of financial aid designed to help students cover the cost of college or university. Unlike scholarships or grants, which don’t require repayment, student loans must be paid back with interest over time. Types of Student Loans The...
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Can an Indian resident doing business in India get a loan from a Singapore bank to do business in India?

Yes, it is possible for an Indian resident to obtain a loan from a Singaporean bank to do business in India. Many banks in Singapore offer business loans to foreign individuals and companies, including those located in India. However, the terms and conditions of the loan will depend on various factors such as the borrower's credit history, business plan, and the bank's policies. To obtain a business loan from a Singapore bank, the borrower may need to provide documentation such as financial statements, business plans, and relevant licenses and permits. The borr...
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how do student loans work

```html Understanding How Student Loans Work: A Comprehensive Guide Navigating the world of student loans can be daunting for many students and their families. With rising tuition costs, understanding how student loans work is crucial for making informed financial decisions. This guide aims to demystify the process, explaining the different types of loans, how they are repaid, and tips for managing them effectively. What Are Student Loans? Student loans are a type of financial aid designed to help students cover the cost of higher education, including tuitio...
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