Singapore's central bank profits more than tripled

The Monetary Authority of Singapore (MAS), the country's central bank, announced on 25 July that its profits more than tripled in the fiscal year through March 2007. This huge increase was due to higher interest payments and gains from asset markets that offset the impact of a stronger Singapore dollar.

The annual profit was S$3.85 billion (US$2.55 billion), compared with S$1.22 billion in the previous year, according to the central bank's annual report, and its total expenditure rose to S$1.