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Singapore's DBS seeks new insurance tie-up, hires adviser:sources SINGAPORE: Singapore's DBS Group Holdings has hired Morgan Stanley to find a partner to sell life insurance products in Asia under a new deal, after its pact with Aviva Plc ends in 2015, people with direct knowledge of the matter said.Singapore and Hong Kong - two of DBS's strongest markets - are seen as profitable for insurers due to their status as Asia's main wealth management centres and an ageing population.According to Swiss Re research, Singapore is an under-penetrated market, with per capita life insurance premiums significantly lower than many other developed economies.The so-called "bancassurance" model - as opposed to the traditional agency model - is lucrative for commercial banks in Asia because global insurers are willing to pay hefty fees for access to lenders' branch networks.DBS plans to finalise the new arrangement in the first half of next year, the sources said. The people did not want to be ...

China money rates slip after PBOC lowers official yield SHANGHAI: China's money rates fell slightly on Tuesday after the central bank lowered the yield at its bond repurchase agreement auctions the second time since July, as part of an effort to lower real funding costs in support of a slowing economy, traders said. The People's Bank of China (PBOC) on Tuesday lowered the yield of the 14-day bond repurchase agreements during open market operations to 3.4 percent, down from 3.5 percent in its previous ...
Bond yields edge lower on persisting global growth concerns NEW YORK: US long-dated Treasuries yields edged lower on Friday on persisting concerns over global economic growth, while short-dated yields were stable on short-covering after this week's dovish Federal Reserve meeting minutes. Weak German economic data and the International Monetary Fund's third cut to its global growth forecasts this year have ignited fears about the health of overseas economies this week, and fueled some safe-haven bids for US 30-year Treasury bonds Friday. "The price action ...
German Bund yields resume fall as concern over growth returns LONDON: Bund yields fell towards new lows on Friday, after poor industrial data from Italy and a report saying Germany will cut its economic forecast. The prospect of economic slowdown has dominated the euro zone bond market for much of the week, beginning with weaker- than-expected German industry data and continuing with the International Monetary Fund's lowering its economic forecasts. Yields on German, French, Spanish, Austrian and Belgian bonds all reached record lows on Thursday ...
JGBs draw foreign demand amid shrinking yield differentials TOKYO: Foreign investors have poured into Japanese government bonds as the yield differential between Japanese and euro zone government debt shrinks and the yen continues to perform well against some currencies other than the US dollar. Data from Japan's Ministry of Finance show that foreign investors were net buyers of long-term Japanese bonds for 12 straight weeks until the third week of September, the longest such streak since the ministry began compiling the data in ...
Sri Lanka treasury secretary says appreciation of rupee is unavoidable COLOMBO: Appreciation of Sri Lanka's rupee is unavoidable due to higher export earnings and inflows from services, the island nation's Treasury Secretary P.B. Jayasundera said on Thursday. "Appreciation of the exchange rate is unavoidable," Jayasundera told a capital market conference in Colombo adding that a 12-16 percent growth in exports and inflows including an annual revenue of $2 billion from tourism. The rupee, which is largely under upward pressure has been broadly steady since February ...
Greece sells 1.138bn euros of 6 month T-bills, yield steady ATHENS: Greece sold 1.138 billion euros ($1.44 billion) of six-month treasury bills on Wednesday to roll over a maturing issue, the country's debt agency PDMA said. The T-bills were priced to yield 2.0 percent, unchanged from a previous sale in September. The sale's bid-cover ratio was 2.67, up from 2.5 in the previous sale. The settlement date for Wednesday's auction will be October 10. The amount raised included 262.5 million euros in non-competitive bids. Athens ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln