Economy MAS Singapore 

Too strong, too fast: Singapore dollar strength may not last, say analysts

The Sing dollar has gained more than 6 per cent against the greenback year to date, making it one of the top performing Southeast Asian currencies alongside the Thai baht. However, analysts expect it to give up some of its gains soon. SINGAPORE: The Singapore dollar has been one of the strongest Southeast Asian currencies in 2017, defying expectations with a year-to-date gain of 6.1 per cent against the greenback. But most analysts say this uptrend may have run its course. DBS Bank’s senior currency strategist Philip Wee, for one,…

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Asia MAS Shopping Singapore Singapore Police SMRT 

Temporary closure of Hougang MRT station due to unattended bag; man arrested

SINGAPORE: An unattended piece of luggage sparked a temporary shutdown of Hougang MRT station on Sunday (Apr 2). A 39-year-old man was subsequently arrested for causing public nuisance after preliminary investigations show he intentionally left the bag inside the station while running an errand. SBS Transit announced that all trains on the North-East Line were skipping Hougang MRT station due to a “security incident” in a tweet at 2.55pm. No other details were provided. Follow SBS Transit @SBSTransit_Ltd 02/04, 3.06pm: All trains on the NEL will skip NE14 HGN Station…

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Asia Jobs MAS Singapore 

NUS to train 2,000 Singapore civil servants on data science annually

SINGAPORE: The National University of Singapore will provide data science training to 2,000 public officers annually, under a new memorandum of intent (MOI) it signed with the Government Technology Agency of Singapore (GovTech) on Wednesday (Mar 29). The two parties will collaborate in the areas of technological innovation, specifically manpower and capability development, for the benefit of public sector agencies, GovTech said in its press release. On the data science training, GovTech said this will improve officers’ knowledge and understanding of data science to address challenges faced by the public…

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1MDB Asia MAS Singapore 

MAS bars former Goldman Sachs banker from trading in Singapore over 1MDB-related breaches

SINGAPORE: The Monetary Authority of Singapore (MAS) on Monday (Mar 13) issued a 10-year Prohibition Order (PO) against former Goldman Sachs director Tim Leissner for 1MDB-related breaches. The local financial regulator said in its press release that it served notice of its intention to issue a PO against Mr Leissner last December, and invited him to submit written representation why it should not be done. It said Mr Leissner was found to have issued in June 2015 an unauthorised letter to a financial institution based in Luxembourg, and to have made false…

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Asia MAS News Singapore 

Singapore central bank to set up dedicated teams to combat money laundering

SINGAPORE – The Monetary Authority of Singapore (MAS) will set up dedicated departments to combat money laundering and strengthen enforcement, it said on Monday. This will take effect on Aug 1. Singapore’s financial sector faces the risk of being used as a conduit for money laundering and terrorist financing activities, the banking regulator said. “While MAS has in place a robust regime to protect the integrity of Singapore’s financial system, the increasing complexities of transnational flows necessitates heightened supervisory focus on combatting money laundering and other illicit financing activities,” it added.…

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cryptocurrency MAS Scam Singapore 

$78k lost to bitcoin investment scams in last 3 months

About $78,000 was lost to scams involving online articles that use false information to promote bitcoin investments between September and last month. These investment scams, which are advertised online, are designed to target Singapore residents, the police said yesterday. The online articles are usually paid advertisements that feature well-known personalities in Singapore who supposedly endorse bitcoin investments and have earned massive profits from them. In these online advertisements, bitcoin investments are portrayed as safe, secure and highly lucrative. People who click on links within the article are taken to a…

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