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December, 9, 2016

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Business > Asia > Singapore
Singapore's financial regulator said Friday it has fined two British banks and barred a former Goldman Sachs banker in a widening crackdown on money laundering linked to Malaysian state fund 1MDB.
 
Singapore will launch a new electronic payment system using blockchain, the technology behind the cryptocurrency bitcoin, the city-state's central bank chief said Wednesday.
 
A handful of Singapore companies are taking steps to help manufacturers around the world build factories of the future.
 
Singapore's export-driven economy shrank the most in four years in the third quarter, officials said Friday, as manufacturing sharply contracted on weaker global demand.
 
The wealthy city-state of Singapore -- with its flourishing trade, orderly life and almost non-existent crime -- is hardly a place one would associate with illegal trade. But a new report by a reputed organization reveals that in fact the country has a poor record of preventing just that.
 
Singapore regulators ordered the closure Tuesday of Falcon Private Bank, citing alleged slack controls for transfers and improper conduct related to 1MDB, an indebted Malaysian state fund.
 
Singapore on Monday charged two more former private bankers with forgery and failing to report suspicious transactions in cases linked to a major money-laundering scandal involving Malaysian state fund 1MDB.
 
European plane maker Airbus on Wednesday suffered a fresh blow to its A380 superjumbo program after Singapore Airlines (SIA) said it would not renew the lease on its oldest A380.
 
They say that money makes the world go round. The idea of getting rich is one subject that is guaranteed to grab plenty of attention.
 
Singapore multibillion-U.S.-dollar sovereign wealth fund GIC on Thursday reported a substantial dip in returns and warned of "difficult" global investment conditions over the next decade.
 
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