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Saudi Central Bank Signs Fintech Cooperation Agreement with Singapore Monetary Authority

The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS). SPA
The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS). SPA
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Saudi Central Bank Signs Fintech Cooperation Agreement with Singapore Monetary Authority

The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS). SPA
The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS). SPA

The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS) on Wednesday in the fields of fintech (finance technology) and innovation.

The agreement was signed by SAMA Governor Ayman Al-Sayari and Singapore Minister for Foreign Affairs Dr. Vivian Balakrishnan, representing MAS, in Riyadh.

The agreement aims to strengthen collaboration and foster mutual development of the two organizations. It seeks to facilitate activities in international markets while respecting the rights and obligation of both parties, provide a robust framework for cooperation between the innovation departments of both organizations, establish effective mechanisms for sharing information regarding fintech and innovation, promote their utilization in the markets, and enhance cooperation and foster coordinated efforts in areas of mutual interest.

The cooperation agreement represents a landmark milestone in advancing fintech and innovation, showing high commitment to leveraging resources and expertise available to both parties.

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Japan's Nintendo Fans Test Switch 2 ahead of Launch amid Tariff Worries

An attendee plays Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention center in London, Britain, April 11, 2025. REUTERS/Isabel Infantes
An attendee plays Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention center in London, Britain, April 11, 2025. REUTERS/Isabel Infantes
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Japan's Nintendo Fans Test Switch 2 ahead of Launch amid Tariff Worries

An attendee plays Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention center in London, Britain, April 11, 2025. REUTERS/Isabel Infantes
An attendee plays Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention center in London, Britain, April 11, 2025. REUTERS/Isabel Infantes

Nintendo fans were given a chance to try out the company's new Switch 2 gaming device at an event near Tokyo on Saturday, ahead of a release that some worry could be overshadowed by tariffs driving up prices.
"Since Mr. Trump became president tariffs have gone up so I am concerned about a price hike not just for the game console but for accessories too," said Hidenori Tanaka, 55, a real estate company employee, who attended the event.
Consumers around the world could face higher prices for electronic devices as tariffs imposed by the US President Donald Trump's administration on trading partners including China raise costs for companies operating global supply chains. While Trump has rolled back some tariffs, the threat of a damaging trade war still looms, Reuters said.
Gamers at the pre-launch event began lining up outside the Makuhari Messe convention center near Tokyo from mid-morning to play Mario Kart World, Donkey Kong Bonanza, and other titles on the Switch 2.
Despite the possibility of higher prices, there are early indicators of robust consumer demand for the successor to the Switch, which has sold more than 150 million units since 2017 and transformed Nintendo's fortunes.
The Kyoto-based gaming company said on Wednesday it had received 2.2 million applications in the lottery for Switch 2 in Japan and could not fulfil all the demand.
"Honestly, I didn't think I had a shot. Everyone on social media was saying they missed out, so I figured I would too," said Hyuma Hashiguchi, 28, who won the lottery to be among the first to buy the Switch 2.
Nintendo is holding hands-on events around the world including in New York, Berlin and Hong Kong.
The Switch 2 will sell for 49,980 yen ($350) for a Japanese-language-only version. In the United States, Nintendo initially paused pre-orders due to tariff concerns but later said it would maintain pricing at $449.99.