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Daily Debrief: What Happened Today

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Tuesday, October 11, 2016 - 18:30
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The Monetary Authority of Singapore is withdrawing the merchant bank status of Switzerland-based Falcon Private Bank's Singapore branch for "serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the head office in Switzerland as well as the Singapore branch", it said on Tuesday.

MAS Takes Action

MAS shuts down Falcon Bank in Singapore, fines Falcon, DBS and UBS

The Monetary Authority of Singapore is withdrawing the merchant bank status of Switzerland-based Falcon Private Bank's Singapore branch for "serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the head office in Switzerland as well as the Singapore branch", it said on Tuesday.


Resale prices of non-landed private homes in Singapore slide in September

Resale prices for non-landed private homes fell 0.9 per cent in Sept 2016 from August to their lowest level in 50 months since July 2012, data from SRX Property on Tuesday morning showed.


Singapore to launch S$10m Asean programme to fund cybersecurity efforts

Singapore will launch a S$10 million Asean Cyber Capacity Programme (ACCP) to deepen cybersecurity cooperation and capabilities among Asean member states.


Raffles Hotel to undergo 16-month restoration programme

Singapore's iconic Raffles Hotel will embark on a 16-month restoration programme starting Jan 2017, the hotel announced on Tuesday.


GLP leases space to Walmart in China

Logistics facilities provider GLP has leased 32,000 square metres or 344,000 square feet of space to retailer Walmart in southern China, it said in a Singapore Exchange filing on Tuesday morning.


SMG buys women's health clinic group for S$60m

Catalist-listed Singapore Medical Group (SMG) has inked a deal to buy Astra Women's Specialists for S$60 million, it said in a press release Tuesday afternoon.


The STI Today

Singapore shares close weaker; pennies still very much in play

A slide in the Dow futures and 1.3 per cent loss in Hong Kong resulted in a weak session here in which bank stocks fell after news that the Monetary Authority of Singapore had taken action against UBS and DBS for anti-money laundering lapses.

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