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Singapore’s MAS has been pioneering efforts to make these credits more viable through initiatives like the "Transition Credits Coalition" (TRACTION), a programme launched at COP28 to scale up transactions from pilot phases to more substantial, market-ready frameworks.
The IAP, which comprises cybersecurity, technology, and finance experts from around the world, is tasked with providing strategic advice to MAS on enhancing the sector's defences against cyber risks.
Mr Pan’s misconduct, which led to the issuance of the prohibition order, occurred during his time as a representative of OCBC, where he was responsible for providing financial advisory services.
The suspension specifically affects Qoo10’s ability to process payments within Singapore through these covered services.
Despite the uptick in inflation, private-sector economists anticipate that the Monetary Authority of Singapore (MAS) will maintain its current monetary policy stance at the upcoming meeting in October. This outlook stems from the belief that the central bank is likely to prioritize stability amid the evolving economic landscape.
Chia highlighted that recent economic indicators have shown growth trending towards the upper end of this range, and he expects the final figure for the year to fall squarely within it. His comments followed a report from private-sector economists, who recently revised their GDP growth forecast for 2024 up to 2.6%, an increase from the previous 2.4% projection made in an MAS survey in June.
Minister of State for Culture, Community and Youth, Alvin Tan, highlighted NTUC’s longstanding dedication to its social mission, underscoring its efforts since its establishment in 1970 to support workers and families through various initiatives.
Recent developments in the US monetary policy suggest that the Federal Reserve is moving closer to reducing interest rates, a shift that could have significant implications for currency values worldwide. Analysts predict that this move will lead to a depreciation of the Singdollar as investors adjust their portfolios in response to the changing interest rate environment.
The MAS's approach to maintaining tight monetary conditions is a direct response to the rising costs of imported goods, which have been exacerbated by global supply chain disruptions and fluctuating commodity prices.
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