Daily Debrief: What Happened Today (Feb 12)

Stories you might have missed

New Singapore entity to consolidate national payment schemes including PayNow, Giro

THE Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) will set up a new payments entity to consolidate the administration and governance of the city state’s eight national payment schemes.

SME sustainable financing loan book up more than 40% to exceed S$9 billion in 2024: OCBC

OCBC’S total sustainable financing for small and medium-sized enterprises (SMEs) grew by more than 40 per cent year on year, surpassing S$9 billion in 2024, up from more than S$7 billion in 2023.

Amazon Web Services opens new Asia-Pacific headquarters in Singapore, hiring for more than 100 roles

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AMAZON opened a new Asia-Pacific headquarters for its cloud computing unit Amazon Web Services (AWS) in Singapore on Wednesday (Feb 12), with plans to hire more than 100 local employees for cloud and corporate roles.

Malaysia faces potential steel import surge amid US tariff uncertainty

THE Malaysian steel industry is bracing itself for a potential influx of cheap steel imports, following the uncertainty surrounding the impact of a 25 per cent tariff on all steel and aluminium imports into the US, said the Malaysian Iron and Steel Industry Federation (MISIF) on Wednesday (Feb 12).

Retirees should build nest egg of at least S$550,000 for ‘conservative’ needs, but Gen Zs, millennials could fall behind: DBS 

BY 2030, a 65-year-old retiree would need a nest egg of at least S$550,000 to meet expenses based on “conservative needs” for 20 years. Those with more “aspirational wants”, such as travel, hobbies and charitable giving, will need to accumulate up to S$1.3 million.