MAS says it stands ready to ensure the stability of Singapore's financial system amid coronavirus spread

SINGAPORE – The Monetary Authority of Singapore said on Friday (March 13) that it “stands ready to ensure the orderly functioning of financial markets and the stability of the financial system in Singapore” as the coronavirus crisis deepens worldwide. It assured that the Singapore dollar money market and foreign exchange market are currently “functioning normally in the face of heightened […]

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Cycling: Singapore aiming to have local rider at 2030 Tour de France

SINGAPORE – The Singapore Cycling Federation (SCF) unveiled its most ambitious plans to date on Friday (March 13), aiming to win an Asian Games title and having a Singaporean representative compete in the Tour de France by 2030. The governing body launched ProCyclingSG, which will groom a group of cyclists from the national team and put them through a training […]

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Global central banks boost liquidity as market panic triggers dash for cash

HONG KONG (REUTERS) – Global central banks acted to shore up money markets on Friday (March 13) after cratering share prices drove a rush for cash, hitting many regional currencies and threatening a surge in short-term borrowing costs. With most developed economies moving into partial shutdown in response to the escalating coronavirus pandemic, Norway and Sweden announced stimulus packages as European […]

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Oil rises over 3% but set for biggest weekly thumping since 2008

TOKYO (Reuters) – Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite rising over 3% on Friday, as investors fretted over evaporating demand from the coronavirus pandemic and a production ramp-up by top producers. Brent crude LCOc1 was up $1.12, or 3.4%, at $34.33 a barrel by 0728 GMT after falling more than 7% […]

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