SINGAPORE--Singapore's manufacturing activity swung to expansionary territory in July for the first time since January due to an improvement in the new orders index, faster growth in the inventory index and a first-time expansion in the indexes of new exports and factory output. The purchasing managers' index rose 2.2 points to a moderate expansion of 50.2 in July, after posting contractions for the past five months, the Singapore Institute of Purchasing and Materials...
The Monetary Authority of Singapore said Monday that it will award "significantly rooted foreign bank" privileges to Standard Chartered Bank Ltd., allowing it to boost its presence in the city-state. Standard Chartered Bank (SCBFF) is the first bank to qualify for SRFB privileges under EU-Singapore Free Trade Agreement commitments, the MAS said. With effect from Aug. 3, Standard Chartered (SCBFF) will be able to operate up to 50 places of business.
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