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MAS sets up new Financial Centre Advisory Panel

THE Monetary Authority of Singapore (MAS) has set up a new 26-member Financial Centre Advisory Panel (FCAP) consisting of leaders from the banking, insurance and asset management industries. The FCAP will enhance the dialogue and ties between MAS and the financial industry, as well as boost the growth and development of Singapore's financial centre. Chaired by MAS managing director Ravi Menon, th...


DBS beats expectations with 15% rise in Q2 profit

DBS Group Holdings announced better-than-expected second-quarter earnings due to improved margins, broad-based fee income growth and sales of more loans. For the second quarter, South-east Asia's largest bank posted net profit of S$1.12 billion, up 15 per cent as net interest margin and fee income reached new quarterly highs, it said on Monday. The earnings were above an average forecast of...


UBS shareholders look to profit hike, dividend

ZURICH • UBS Group reported a second-quarter profit that beat analyst estimates as income from managing funds for the wealthy more than doubled on lower costs, and equity trading rose to its highest in three years. Chief executive Sergio Ermotti said he is confident that UBS, Switzerland's largest bank, will pay at least 50 per cent of profit to shareholders for a second year. The bank also pla...


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