Standard Chartered’s Post

Last week, the EU and Singapore finalised a Digital Trade Agreement (DTA), the first of its kind in the EU. For companies like Complidata, who are based in the EU, this is a big step forward - it shows that the EU is committed to promoting technology in trade. Earlier this year, we also saw the ICC United Kingdom working with the The ASEAN Secretariat Department for Business and Trade Foreign and ASEAN Member States, to support ASEAN’s goal of digitising trade by the end of 2026. The collaboration between the UK, and as mentioned above the EU, with a fast-growing, exporting region such as ASEAN, is crucial for enhancing global trade efficiency and connectivity. The past few years after Covid have seen a shift in regulatory mindset, from relatively skeptical of new technology, to embracing and promoting it. This shift is thanks to the shift in the industry itself - driven by associations like ITFA and BAFT (Bankers Association for Finance and Trade), fintechs, and some financial institutions who are leading the way. The talk is no longer around whether or not advanced technologies should be used, it’s now on how to choose the best tools, and how to adapt it into the bank’s trade finance operations framework. Trade finance digitisation is no longer a trend - it’s here to stay. As usual, a short clip by our partner, Huron’s Alan Morley and our CEO Ben Arber on the collective industry efforts that they have seen the past few years. Read more about this DTA here: https://lnkd.in/gGiRHvpV #tradefinance #digitisingtrade #banking #asean ASEAN Business Advisory Council (ASEAN BAC) Matthias Verbeke Gary Collyer Alex Gray Sam Curtis Dennis Greenberg Mike Willhelm

Staying informed about market trends is crucial for making sound financial decisions. Here are some key insights into the current financial landscape in Singapore: 📈 Forecast: Economists have upgraded their growth forecast for Singapore in 2024 to 2.6%, up from 2.4% earlier in the year. This positive outlook is driven by better-than-expected external growth 📊 Sectoral Growth: Key sectors such as finance and insurance, construction, and wholesale and retail trade are expected to see significant growth. 💹 Inflation Trends: The median forecast for headline inflation in 2024 has been adjusted to 2.6%, down from 2.8% in June. Core inflation is also expected to ease, with forecasts at 2.9%, down from 3.0%. 📲 Fintech Innovations: The fintech sector is seeing rapid advancements, including instant cross-border transactions, the use of generative AI in financial services, emerging digital currencies, embedded finance “as-a-Service”, and increased ESG reporting and data convergence. 💲 Monetary Policy: The Monetary Authority of Singapore (MAS) has maintained its monetary policy settings since July 2023, with no changes expected until at least 2025 📜 Sources: 1. The Finance SG 2. The Straits Times 3. US News - Money

The World Bank Group unveiled the first edition of its Business Ready 2024 Report today, with Hong Kong securing a position among the top ten performers from 50 evaluated global economies. This pilot report assesses the business environment across various economies under three major pillars and ten specific topics, highlighting Hong Kong’s strengths particularly in international trade, business entry, and utility services. Hong Kong excelled in the “International Trade” category, achieving an impressive 90.77 points, and scored 85.49 in “Business Entry” and 77.71 in “Utility Services”. Overall, it ranked fifth in the “Operational Efficiency” pillar with 78.52 points. https://lnkd.in/etYu-JdQ

𝐈𝐬 𝐭𝐡𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐬𝐥𝐨𝐰𝐝𝐨𝐰𝐧 𝐢𝐧 𝐂𝐡𝐢𝐧𝐚 𝐬𝐢𝐠𝐧𝐚𝐥𝐢𝐧𝐠 𝐭𝐫𝐨𝐮𝐛𝐥𝐞 𝐟𝐨𝐫 𝐁𝟐𝐁 𝐭𝐫𝐚𝐝𝐞? Half of the companies in our latest Asia-wide survey are becoming increasingly concerned about insolvency risks, with markets like Indonesia and Japan feeling the pressure. Interestingly, Chinese companies are showing the least anxiety about future insolvency risks in the coming months, despite the broader regional concerns. As businesses brace for potential ripple effects and payment challenges, the uncertain economic landscape continues to test profitability and resilience. Explore our full survey insights to see how businesses in Asia are navigating these uncertain times 👉 https://brnw.ch/21wOmKS #paymentpracticesbarometer #InsolvencyRisk #B2BTrade #EconomicOutlook #AtradiusSurvey #BusinessProfitability #CreditRisk #AsiaEconomy

The trade and #investment dynamics between the US and #Asia are undergoing a fundamental shift, writes Lawrence Yeo in his latest column. Flows used to be driven by quantitative factors — like costs and taxes — but increasingly they are now powered by qualitative factors like talent, technology and industry clusters. #FDI #foreigndirectinvestment #APAC #oped #opinion https://lnkd.in/gcUfJArM

Deutsche Bank’s report, “Navigating ASEAN-6 Capital Markets,” offers a detailed analysis and practical guide for investors entering the diverse #capitalmarkets of #Indonesia, #Malaysia, the #Philippines, #Singapore, #Thailand, and #Vietnam. This report addresses key aspects of market access, repatriation regulations, and market structures within the #ASEAN-6 region, providing valuable insights for investors seeking to capitalize on the region’s dynamic #economicgrowth. Key Insights 1. Market Access and Entry Points: The report outlines the unique regulatory landscapes and entry requirements across ASEAN-6 countries, identifying essential compliance measures for international investors. Each #market has distinct rules for licensing, investment caps, and approved #financialinstruments, emphasizing the need for tailored strategies. 2. Capital Repatriation: Repatriation regulations vary significantly among ASEAN-6 nations, impacting how foreign investors can move profits out of these markets. Deutsche Bank highlights the primary challenges and solutions in navigating these frameworks, including currency exchange controls, tax treaties, and regulatory approvals required for repatriating funds. 3. Market Structures and Liquidity: The ASEAN-6 markets are characterized by varied levels of #liquidity, institutional participation, and market maturity. The report discusses the infrastructure of each market, from advanced systems in Singapore to #emergingstructures in Vietnam, as well as #liquidity factors that investors should consider to minimize #transactionrisks. 4. Regulatory Developments and Reforms: As ASEAN-6 countries #work to attract more #foreigninvestment, the report highlights ongoing regulatory reforms aimed at improving transparency, market efficiency, and #investor protection. These include efforts to streamline cross-border trade, harmonize regulatory standards, and strengthen legal frameworks. 5. Investment Opportunities and Risks: The report identifies major growth sectors within ASEAN-6, including #technology, infrastructure, and #financialservices. However, it also cautions about potential risks, such as political volatility, regulatory shifts, and currency fluctuations, urging investors to adopt #riskmanagement strategies tailored to each market. Conclusion “Navigating ASEAN-6 Capital Markets” by Deutsche Bank serves as a crucial resource for investors looking to engage with #SoutheastAsia’s expanding economies. By providing a comprehensive understanding of market access, repatriation policies, and structural characteristics, this report equips investors with the knowledge needed to navigate these diverse markets strategically and confidently.

【Hong Kong Ranks Among Top 10 Economies🇭🇰✨】 The World Bank Group published the first Business Ready 2024 Report📊. Hong Kong is among the top 10 performers among 50 economies covered in the Report🎖️. The Report compares the overall performance of economies in terms of their business environment under 10 topics and three pillars. For Hong Kong, the three topics with the highest score are “International Trade"🌎 (90.77 points), "Business Entry"⬇️(85.49 points) and "Utility Services"🏢(77.71 points). Among the three pillars, Hong Kong ranks fifth in "Operational Efficiency"⚙️(78.52 points). The Report has given recognition to Hong Kong as an international trading centre with simple and clear regulations in business entry, and also stable and efficient utility infrastructure. Among others, the Report highlights that Hong Kong has few restrictions on international trade in services and implements good practices in terms of information provision and regulations relating to company registration. The Report fully illustrates Hong Kong's role as a 'super-connector' and a 'super value-adder', and as a two-way door in attracting overseas enterprises and assisting Mainland enterprises to 'go global'↔️. The Government will conduct in-depth studies on the Report and continue to work closely with the business sector and other stakeholders to create a more business-friendly and efficient environment for Hong Kong. Press Release: https://bit.ly/4dxiMYg #WorldBankGroup #BusinessReady2024Report

𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝 𝐂𝐡𝐚𝐫𝐭𝐞𝐫𝐞𝐝 𝐀𝐝𝐯𝐨𝐜𝐚𝐭𝐞𝐬 𝐟𝐨𝐫 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐁𝐞𝐭𝐰𝐞𝐞𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐔𝐀𝐄 Singapore and United Arab Emirates, says Standard Chartered Bank, should deepen cooperation in a global setting marked by geopolitical tensions and economic fragmentation, as both are high-growth trade and innovation hubs. Read More: https://shorturl.at/XHywV #StandardChartered #SingaporeUAE #EconomicCollaboration #GlobalTrade #FintechInnovation #DigitalTransformation #SustainableGrowth #InvestmentOpportunities #ASEANEconomy 

India-Algeria Bilateral and Trade Relations: An Overview: Australia plays a pivotal role in India's digital economy, fostering collaboration in the space sector and advancing fintech through innovations in ... #finpeform #fintech

Did you know Vietnam was the fastest-growing digital economy in ASEAN in 2023, with the potential to become the second-largest by 2030? However, the challenge remains how to increase digital education and boost energy infrastructure. HSBC’s Yun Liu and Jun Takazawa look at Vietnam’s plan to unlock its digital potential. Click to view 👉 https://grp.hsbc/6040g87Or #HSBCResearch #Research #ThoughtLeadership