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The minimum debt amount that needs to be owed before a person may be made bankrupt will be increased to S$15,000 from S$10,000.
"While outsourcing can bring about cost and other benefits, it may increase the risk profile of an institution," the central bank said.
Singapore Post (SingPost) on Wednesday introduced the country's first open parcel locker service. This will allow retailers and consumers to rent a locker to deliver and receive parcels, addressing the common hassle of missing the deliveryman, or in arranging meet-ups for Carousell transactions.
DBS said on Wednesday it has appointed former UBS banker Joseph Poon as the regional head of South-east Asia for its private bank division. He joins on Aug 16, 2016.
Some US$506 billion were traded in April, a 26 per cent increase from October 2015.
The STI Today
A report that the Japanese government is preparing a stimulus package worth more than 28 trillion yen (S$360 billion) gave a midweek pick-up to flagging stock markets.