Blackstone finalizes A$4.3 billion loan for AirTrunk's Sydney data center
Blackstone is finalizing a group of banks to underwrite a A$4.3 billion construction loan for AirTrunk's new SYD3 hyperscale data center in Australia. The five-year financing is expected to include Credit Agricole, DBS Group Holdings, Deutsche Bank, HSBC Holdings, ING Bank, Mitsubishi UFJ Financial Group, Morgan Stanley and United Overseas Bank, with additional lenders possibly joining. The loan is part of a broader surge in AI infrastructure borrowing, with at least $334.5 billion of bonds and loans issued so far this year compared with $185.5 billion during all of 2025, according to Bloomberg data. AirTrunk is also completing an approximately $2.3 billion loan for a data center project in Johor, Malaysia, while Australian-listed NextDC has increased its senior debt facilities to A$2.3 billion from A$1.8 billion.
Singapore stocks are poised to extend their losing streak to a third session on Thursday, tracking global weakness after the Federal Reserve's latest minutes signaled a more hawkish interest-rate outlook. The Straits Times Index fell 18.39 points, or 0.57 percent, to 3,185.38 on Wednesday, with losses led by financial shares and trusts. Among active stocks, DBS Group declined 0.67 percent, Oversea-Chinese Banking Corporation skidded 0.97 percent, and CapitaLand Integrated Commercial Trust slumped 1.03 percent, while Yangzijiang Shipbuilding rallied 2.08 percent. The negative lead from Wall Street saw the Dow drop 129.83 points to 34,288.64, as the FOMC minutes revealed that most participants expect further rate hikes this year.
Singapore issues new guidelines, recommends AI chatbot providers create information cards similar to drug labels
Singapore has launched transparency guidelines for generative AI chatbots, encouraging providers to create chatbot information cards that summarise key terms in easy-to-understand language, much like drug labels. Josephine Teo, Singapore's Minister for Digital Development and Information, said these cards will consolidate capabilities, limitations, safety measures, data usage, and complaint channels in one place to address the problem of scattered information. The guidelines recommend updating the information when significant changes occur, and presenting it via web pages or disclosure documents that are easy to find and access. Several organisations have already expressed interest in adopting the guidelines within the next six to twelve months, including Google, Meta, DBS Bank, OCBC Bank, and Singapore Airlines. The Singapore government also simultaneously launched a digital twin implementation guide and guidelines on the use of personal data in generative AI.
TenPay Global Deepens Singapore Remittance Partnerships as Digital Transfers Grow
TenPay Global, Tencent's cross-border payment platform, held an event in Singapore with partners DBS Bank, Panda Remit, and Western Union to strengthen collaboration and improve the cross-border remittance user experience. The gathering on July 12 included a private screening of the film "Dear You," which traces the evolution of remittance from traditional Qiaopi to digital transfers via Weixin. TenPay Global's platform now partners with more than 60 major international banks and remittance institutions, supporting remittances to China from over 150 countries and regions. Funds sent home can now arrive in as little as one minute directly to Weixin, an experience Royal Chen, Vice President of Tencent Financial Technology, likened to sending a message. The event also featured an interactive corner where guests could generate a personalized AI-powered digital Qiaopi.
DBS targets S$1 trillion in wealth assets by 2030, plans 600 new hires
DBS Group Holdings aims to grow its wealth and retail assets to more than S$1 trillion by 2030, up from S$632 billion at the end of 2025. The Singapore lender plans to hire at least 600 relationship managers and platform engineers by the end of 2028, open 18 new wealth centers, and upgrade 36 existing locations across Singapore, Hong Kong, and mainland China. Shee Tse Koon, group head of consumer banking and wealth management, called the expansion possibly the largest physical wealth buildout by an Asian bank. DBS also intends to launch a redesigned AI-powered wealth platform in mid-August offering personalized investment recommendations and automated trading for mass-market customers. The move comes as Singapore solidifies its position as a global wealth hub, with rivals Oversea-Chinese Banking Corp. and United Overseas Bank also investing in technology and relationship managers.
75% of SWIFT payments reach recipient bank within 10 minutes
SWIFT has announced the initial availability of a blockchain-based shared ledger. Seventeen major global banks are preparing to trial live transactions for cross-border payments using tokenized deposits. The platform will enable regulated banks to move tokenized deposits 24/7, with final settlement occurring through existing payment networks. Participating institutions include Citi, HSBC, BNP Paribas, Standard Chartered, UBS, BNY, Wells Fargo, and DBS. According to SWIFT, 75% of payments on the SWIFT network now reach the recipient bank within 10 minutes, with many arriving in seconds.