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IN THE NEWS

AIA Singapore's H1 operating net profit up 8% at US$211m

AIA Singapore reported on Thursday that its operating net profit for the six months ended May 31, 2016, rose 8 per cent to US$211 million from US$201 million a year ago. The value of new business (VONB) generated grew 10 per cent to US$152 million from US$142 million due to strong performances from its agency and bancassurance distribution channels. However, these were partly offset by slower sin...


UOB's Q2 earnings up on boost from trading activities

A better performance in trading activities boosted second-quarter earnings, United Overseas Bank (UOB) reported yesterday. The bank, the third-largest listed one here, saw net profit rise to $801 million, up 5.1 per cent for the three months ended June 30 compared with the same period last year. This beat an average forecast of $769 million in a Reuters poll of five analysts. Net interest income...


MAS issues new guidelines on cloud services

Financial institutions using Internet cloud services will now have to check risk factors such as the integrity and confidentiality of the cloud service they use. The Monetary Authority of Singapore (MAS) yesterday issued new guidelines for financial institutions on risk management practices in outsourcing in general - including a new section that covers the use of cloud services. The move is ti...


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