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"Our own expectation is that they aren't going to change anything on the rates front for the rest of this fiscal year," said Radhika Rao, economist at DBS in Singapore. "Cuts will mostly take place in March 2024, which will be preceded by a change in stance, and a much more cautious commentary on growth."
Multilateral development banks (MDBs) must undergo big changes in the way they operate to eliminate poverty, triple sustainable lending levels by 2030 and create a new funding mechanism to further its agenda, a G20 panel said in a report on Tuesday. The independent panel, headed by economists Lawrence Summers and N.K. Singh, was commissioned by the Group of 20 nations to propose reforms for MDBs with a focus on increasing funding for sustainable developments goals and climate change, among others. "Individually and collectively, MDBs must become effective agents in all developing countr...
Singapore's largest bank, DBS Bank Ltd, has opened its new IFSC Banking Unit (IBU) in India. The new unit, situated in the Gujarat International Finance Tec-City, will cater to corporate banking services and foreign currency-denominated loans including external commercial borrowings and trade finance products.
Savings for this group have dropped to “unhealthy levels” as spending exceeded take-home incomes, the annual study by the bank showed.
Piyush Gupta, leader of Southeast Asia’s largest bank for the last 13 years, has seen his fair share of crises including repeated service outages in recent months. He tells CNA’s Work It podcast hosts Crispina Robert and Adrian Tan how he tackles these challenges while avoiding a blame culture.