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Great Eastern to acquire Indonesia insurance firm for US$28m

GREAT Eastern Holdings is acquiring Indonesia-registered PT QBE General Insurance Indonesia for US$28 million (S$38.4 million), as part of its broader strategy of building its general insurance operations into a significant business pillar and deepening its footprint in Indonesia. The group announced on Tuesday that its unit Great Eastern General Insurance Limited entered into a share purchase agreement on Dec 10 to fully acquire QBE Indonesia...


Singapore private banks target Middle East, NRI clients

SINGAPORE'S private banks are stepping up efforts to capture new clients in the Middle East market, which includes a significant non-resident Indian (NRI) segment. India has the largest diaspora population in the world, with as many as 16 million Indians living outside the country of their birth, says the United Nations report on migration trends. DBS Bank, Bank of Singapore and Citi are aggressively hiring more bankers in their bid to target the...


MAS unveils S$30m grant to bolster cybersecurity

THE Monetary Authority of Singapore (MAS) on Monday launched a S$30 million Cybersecurity Capabilities Grant to raise the cybersecurity capabilities of the financial sector and help financial institutions develop local talent in cybersecurity. Funded under the Financial Sector Technology and Innovation Scheme (FSTI), the grant will support the development of advanced cybersecurity functions within financial institutions. MAS will co-fund up to 50...


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