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Singapore is proud to have been chosen to host the Islamic Financial Services Board's 6th Annual Summit in May 2009. IFSB Summit Singapore 2009 will be the first to be held in Asia . Our hosting of the Summit underscores our role as an international financial centre with a strong value proposition for Islamic financial services.

   
 
News Headlines
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  More Japanese firms set up regional HQ here, Business Times, 28 April 2008
  Asia securitisation growth on track in long term, Business Times, 25 Apr 2008
  Corporate finance deals in Q1 double to US$26b, Business Times, 22 Apr 2008
  Banker upbeat on Asian securitisation deals, Business Times, 15 Apr 2008
  Pioneer Investments to move HK jobs to S'pore, Business Times, 15 Apr 2008
  Jim Rogers sees S'pore as commodity hub, Business Times, 12 Apr 2008
  S'pore leads Asia-Pac project finance borrowing, Business Times, 11 Apr 2008
  Asian chief execs remain upbeat on business outlook, Straits Times, 10 Apr 2008
  London Business School eyes S'pore, Business Times, 10 Apr 2008
  Private bankers upbeat despite credit crunch, Business Times, 9 Apr 2008
  S'pore seen posting strong Q1 GDP growth, Business Times, 9 Apr 2008
  SGX to launch clearing of OTC benzene swaps, Business Times, 8 Apr 2008
  ABN Amro launches certificates linked to commodity index, Business Times, 4 Apr 2008
  US-S'pore trade soars 41%, set to grow further, Business Times, 3 Apr 2008
 

Asia ops still strong despite US credit crunch, says Lehman, Straits Times,3 Apr 2008

 

Russia-Singapore business ties getting deeper Business Times,2 Apr 2008

  Top China funds check out S-shares, Straits Times,31 Mar 2008
 

Private banking in Asia to grow 9% a year: study,Business Times, 27 Mar 2008

  State Bank of India secures full service nod, 27 Mar 2008
 

'Bullish outlook' for private equity in South-east Asia, Straits Times,26 Mar 2008

  Low cost a big draw for maritime arbitration centre, Business Times,26 Mar 2008
     
 
Economic News
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MAS Economic Policy Department, Macroeconomic Review, Volume VII, Issue 1, 29 Apr 2008

The Macroeconomic Review is published twice a year in conjunction with the release of the MAS Monetary Policy Statement (MPS). The purpose of the Review is to provide information on the Economic Policy Department's background analysis and assessment of GDP growth and inflation developments in the Singapore economy, and in doing so, to share with market participants, analysts, and the wider public the basis for the policy decision articulated in the MPS.
 
MAS Monetary Policy Statement, 10 Apr 2008
Against this backdrop of continuing external and domestic cost pressures, an upward shift of the policy band at this point will help to moderate inflation going forward, while providing support for sustainable growth in the economy. MAS will therefore re-centre the exchange rate policy band at the prevailing level of the S$NEER. There will be no change to the slope or width of the policy band.
 
MAS Survey of Professional Forecasters, Mar 2008
The MAS Survey of Professional Forecasters provides a summary of forecasts of Singapore 's key economic indicators by economists and analysts. The survey is conducted quarterly following the release of economic data for the previous quarter by the Ministry of Trade and Industry.
 

Monthly Statistical Bulletin, Mar 2008

 
   
 
Industry Watch
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  Markets Updates
     
 
SGX Opens Beijing Representative Office, 18 Apr 2008
 
Opening Speech by Minister Lim Hng Kiang, Minister for Trade and Industry, Deputy Chairman, MAS, at Launch Ceremony of the Singapore Exchange Beijing Representative Office, 18 Apr 2008
The setting up of the Singapore Exchange’s first overseas representative office in Beijing underscores the exchange’s commitment to China. This representative office will further strengthen existing links between our two business and finance communities under the broader China-Singapore partnership framework. It will also play its role well in serving the specific needs of the Chinese companies with the ambition to grow regionally.
 
LYXOR AM AND SGX Introduce Asia’s first India ETF on NIFTY, 18 Mar 2008
Lyxor International Asset Management (“Lyxor AM”), a wholly owned subsidiary of Société Générale, and Singapore Exchange Limited (“SGX”) today announced that Lyxor ETF India (S&P CNX NIFTY) (“Lyxor ETF India Nifty”) will be listed on SGX on 28 March 2008. This is the first India ETF in Asia to be based on the Nifty index.
   
       
  Conferences & Events
     
 
Opening Remarks by Mr Tai Boon Leong, Executive Director, Monetary Authority of Singapore at the Singapore Islamic Finance News Forum 2008, 2 Apr 08
Singapore’s well-developed financial markets, strong regulatory framework, and broad talent base will contribute positively to the growth of the global Islamic finance industry. Singapore will also be the proud host the Islamic Financial Services Board’s 6th annual Summit in May 2009
 
Address by Mr Heng Swee Keat, Managing Director, MAS, at the General Insurance Association of Singapore, Annual General Meeting Luncheon, 26 March 2008
The insurance industry faces important challenges in the current environment. However, the growth prospects for the industry are very positive. To seize these opportunities, insurers will need to move up the value chain by providing innovative products, value-added services and holistic risk management. Attracting and development talent will be critical to our success in the next phase of growth. The programmes being launched by the GIA, the RDC and other key participants are exciting and significant initiatives, and MAS is committed to supporting these. Working together, we can scale new heights.
 
Speech by Mr Low Kwok Mun, Executive Director (Insurance Supervision Department), MAS, 7th LIA Annual Luncheon, 12 Mar 2008
The insurance industry experienced excellent performance in the past year. As announced by LIA last month, new business weighted premiums for 2007 amounted to S$1.7 bn, the highest in the last five years. Total assets managed by the life insurance industry totaled almost S$108 bn as at September 2007, a significant 22% increase compared with the previous year. Singapore’s life insurance industry has grown in complexity, with insurers moving up the value chain to offer new products to meet the needs of the more affluent and sophisticated consumers.
 
Speech by Ms Teo Swee Lian, Deputy Managing Director, Prudential Supervision, MAS at Risk Minds Asia Conference 2008, 4 Mar 2008
Financial supervision calls for a holistic understanding and management of the risks in the entire financial system. MAS aims to achieve this through the four principles of financial supervision – “Risk-Focused”, “Stakeholder-Reliant”, “Disclosure-Based” and “Business-Friendly”. That said, no financial authority can hope to foster a stable yet vibrant financial system without the help of stakeholders like yourselves, the senior management and risk professionals in the industry. International cooperation is also an essential component of an effective regulatory framework in face of the globalisation of banking and financial activities.
     
 
   
 
Consumer Issues
 
Financial literacy: Govt does it via MoneySENSE, 2 Apr 2008
Financial Education Steering Committee’s response to an earlier letter in ST forum. We refer to the Forum letter, 'Teach personal finance in schools' (March 21) and agree that financial education is important. MoneySENSE, the national financial education programme, brings together industry and public sector initiatives to enhance the basic financial literacy of consumers. MoneySENSE complements this through educational skits, games and workshops in primary and secondary schools. For example, MoneySENSE and the Association of Banks in Singapore (ABS) developed an interactive skit 'Saving - the Sensible Habit' for primary school students. To date, the programme has been brought to 81 primary schools. MoneySENSE and ABS aim to bring it to the remaining 97 primary schools by the middle of next year.
   
Training
 

Address by Mr Heng Swee Keat, Managing Director, Monetary Authority of Singapore, At The SMU-UOB Advanced Diploma In Private Banking, Graduation Event, 25 Apr 2008

University of Chicago To Establish Financial Mathematics Graduate Programme In Singapore

The new program is offered outside the United States for the first time and will serve to attract top financial mathematics talent to Singapore. MAS believes that this development would enhance the offering of high quality programmes available in Singapore and support talent development for the financial services sector

New Contact Singapore Launched

Deputy Prime Minister and Minister for Home Affairs, Mr Wong Kan Seng, officially launched the new Contact Singapore on Monday, 28 April. The new Contact Singapore is a strategic alliance of the Singapore Economic Development Board (EDB) and the Ministry of Manpower (MOM) to attract global talent to work, invest and live in Singapore. The new Contact Singapore will be a one-stop centre for those who wish to pursue a rewarding career in Singapore as well as business leaders and entrepreneurs keen to invest or initiate new business activities here. It will harness the strong business network and investment promotion capability of EDB and the extensive international outreach to global talent of MOM.
 
Related Links
Contact Singapore
Economic Development Board
FinanceConnectSingapore
Institute of Banking and Finance
Marina Bay Singapore
Ministry of Finance
Ministry of Trade and Industry
Singapore Exchange
Singapore Tourism Board
The Association of Banks in Singapore
Urban Redevelopment Authority
Wealth Management Institute
For more useful links, please refer to MAS website: http://www.mas.gov.sg/useful_links/useful_links.html

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