Investments

A Meltwater report highlighted the transformation of social media from a mere source of financial advice to a platform that fosters a collective voice through community, support, and validation"

According to RHB, businesses catering to this "silver spender" demographic with innovative lifestyle and healthcare solutions are poised for significant growth.

MAS chief Ravi Menon emphasised the role of AI in enhancing comprehensive surveillance to combat money laundering, particularly due to the operation of launderers across multiple financial institutions.

Various experts predict that MAS will be maintaining its policy next year. This prediction is likely due to core inflation’s continued moderating trajectory towards the long-term historical average of around 1.8%.

The new extension of resources and partnership brings the total number of COIs to 12, providing specialised aid, advisory services, and exclusive facilities aimed directly at the needs of SMEs.

The proposed law aims to oversee substantial local and foreign investments that are critical to Singapore's national security concerns. This move mirrors a global trend where other nations have intensified measures for foreign investments in crucial sectors or companies.

YouTrip’s CEO emphasised that its strategic approach revolves around maintaining consistency and prioritising localisation. Its new funding will focus on expansion plans, including advanced technologies to enhance YouTrip's offers.

75% of SMBs are actively exploring options to change their banking solution provider. This underscores the growing demand for embedded financial services in the local SMB sector.

This move comes as MAS acknowledges the growing convergence in business models and risk profiles between RFMCs and A/I LFMCs, rendering the current regulatory distinction less relevant as most new entrants opt for A/I LFMC status.

To achieve wealth preservation and multi-generational prosperity, wealthy families are prioritising four key objectives: harmonising relationships across global generations, aligning values between family offices and business enterprises, venturing into innovative investment strategies, and nurturing the personal ambitions and passions of family members.

According to the Monetary Authority of Singapore, it will shift to a quarterly monetary policy statement schedule from next year. The statements will be released in January, April, July, and October.

Finalists for the Artificial Intelligence in Finance Global Challenge have been announced by MAS. They will undergo a 10-week program to refine their solutions and pitch them to the judges.

Singapore leads the Southeast Asian FinTech landscape, securing $161 million in funding during 3Q23. This makes up a whopping 70% of the region's total FinTech funding.

Economists emphasise that MAS is poised to maintain its existing policy parameters, stating robust GDP growth projections into 2024 and ongoing concerns about inflationary pressures.

The amount offered is at S$1 billion.