In Budget 2024, which comes after a difficult year and anticipates the challenging global situation ahead, the government continues its efforts to develop local enterprises, equip workers for life, and also create pathways for equity and mobility.
Developing local enterprises
Minister Wong reaffirmed the commitment to continue investing and strengthening local...
Finance Minister Lawrence Wong delivered Singapore’s Budget 2024 on 16 February 2024. The budget comes after a difficult 2023 in whichthe international environment was troubled, the global economy was subdued and Singapore’s own economy grew by a modest 1.1%, fortunately avoiding a recession.
In the year ahead, Minister Wong noted...
IFS has shared the latest findings of its recent global research polling 2,000 senior decision-makers – VP and above – in France, Germany, Japan, Nordics, UK, USA and the UAE –across Manufacturing, Services, Telecoms, Energy & Resources, Construction & Engineering, and A&D industries.
In its last overview, the company highlighted the overarching dependence on AI to create and accelerate business value from servitization.
The survey points to specific executives...
Forrester's 2023 Malaysia Banking Customer Experience Index (CX Index™) reveals that banks in Malaysia have been steadily improving their CX quality over the past two years.
This year's top brand, Maybank, saw an improvement in its CX performance as it recorded 21 positive interactions for every negative one, which is more than twice the...
Vertice has announced the results of its global survey, which reveals that a lack of alignment between finance and tech leaders is preventing companies from controlling cloud spending.
Amidst cloud costs rising by an average of 35% year on year, Vertice surveyed 600 finance and tech leaders and found that cutting...
In Southeast Asia, about 70% of SMEs (small and medium enterprises) started their business with seed money raised from their personal savings and from family and friends' financial support – particularly in Indonesia, Malaysia and Singapore. This finding stood out from a report published by Funding Societies.
Funding from traditional banks consists of 23% while...
While there is an anticipation of global trade expanding by slightly over 2% in 2024, the pace of growth in Asia is forecasted to remain subdued and may not be as robust as it was in previous years.
The key factor inhibiting growth can be attributed to an ongoing underperformance...
Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) today launched the cross-border quick response (QR) payment linkage between Indonesia and Singapore. This linkage enables customers of participating financial institutions1 to make seamless cross-border retail payments using their existing mobile banking applications to scan QRIS (Quick Response Code...
The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have jointly launched the real-time payment systems linkage between Singapore’s PayNow and Malaysia’s DuitNow.
The initiative follows the QR payment linkage announced on 31 March 2023 which enabled cross-border QR payments to merchants.
The PayNow-DuitNow linkage enables instant, secure and...
The International Finance Corporation (IFC), Monetary Authority of Singapore (MAS) and World Economic Forum (the Forum) have signed a Memorandum of Understanding to collaborate on initiatives to advance digital inclusion through financial services, with the aim of reducing inequalities for people and smaller businesses in emerging and developing economies.
The...
