S&P 500 ends a hair lower; hedge fund default concerns hit banks
NEW YORK (REUTERS) – The S&P 500 ended just slightly in the red on Monday (March 29), with bank shares falling amid warnings of potential losses from a hedge fund’s […]
TPBank to issue JCB Card in Vietnam
Hanoi & Tokyo, Mar 25, 2021 – (ACN Newswire via SEAPRWire.com) – Tien Phong Commercial Joint Stock Bank (TPBank) and JCB International Co., Ltd. – the international operations subsidiary of […]
Companies bank on R&D centres to stay competitive
SINGAPORE – Coming up with a world-beating idea is one thing, but turning it into a saleable product requires a different approach, one that is being fine-tuned by firms setting […]
Signing of Agreement to Transfer Shares of MUL and HCC to MC
TOKYO, Mar 19, 2021 – (JCN Newswire via SEAPRWire.com) – Mitsubishi Corporation (MC) is pleased to announce its signing today of a share-transfer agreement with Mitsubishi UFJ Financial Group, Inc. […]
GIC-backed Bank Jago races to upend mobile banking in Indonesia
JAKARTA (BLOOMBERG) – Bank Jago will begin offering some banking services via mobile app this month before extending full-fledged products including loans, securing early-mover advantage in Indonesia’s booming digital banking […]
Local banks step up to help Singapore SMEs go global
SINGAPORE – When a small and medium-sized enterprise (SME) decides to take its first step outside the country, it will look for a bank where it can open a business […]
Company briefs: KKR & Co; Credit Suisse; Shopee
KKR & Co Mr Terence Lee, KKR & Co’s managing director for the Asia-Pacific, has resigned from the buyout firm after 10 years, according to sources with knowledge of the […]
Ant IPO could resume once issues resolved: China’s central bank
BEIJING (BLOOMBERG) – Ant Group could resume its plans for an initial public offering once problems are resolved, China’s central bank chief said, offering some relief to global investors seeking […]
Chinese bank’s first overseas innovation centre opens here
Shanghai Pudong Development Bank (SPD Bank) has opened its first overseas innovation centre here, making Singapore its fintech beachhead to South-east Asia. “The SPD Bank Singapore Innovation Centre is committed […]
Verofax is the Winner of Bahrain Islamic Bank’s ‘BisB Innovation Challenge’
BAHRAIN, Jan 25, 2021 – (ACN Newswire) – Bahrain Islamic Bank (BisB), a leading Bank in the Arab Gulf region, has announced Verofax as winner of the ‘BisB Innovation Challenge’, […]
Verofax Winner of Bahrain Islamic Bank’s ‘BisB Innovation Challenge’
BAHRAIN, Jan 25, 2021 – (ACN Newswire) – Bahrain Islamic Bank (BisB), a leading Bank in the Arab Gulf region, has announced Verofax as winner of the ‘BisB Innovation Challenge’, […]
Deutsche Bank probing sales of investment banking products
FRANKFURT (BLOOMBERG) – Deutsche Bank said on Sunday (Jan 24) it was conducting an internal investigation following a Financial Times report describing bank employees in a profit sharing scheme that […]
China’s growing power scaring ordinary savers out of Hong Kong
HONG KONG (BLOOMBERG) – It was the freezing of bank accounts that changed Dan’s mind. The Hongkonger, a finance worker in his early 50s, watched China tighten its grip on […]
Woman charged with illegal transfers involving funds from scam victims
SINGAPORE – A woman who allegedly provided illegal transfers involving money from victims of online scams was hauled to court on Tuesday (Jan 19). Maslenie Mohamed Ramli, 38, was slapped […]
HSBC chairman gives hints of looming strategy revamp
LONDON (BLOOMBERG) – HSBC Holdings plans to accelerate its expansion across Asia in its imminent strategy refresh, according to chairman Mark Tucker. Mr Tucker said “the world had changed” in […]
14th Asian Financial Forum opens today
Paul Romer, 2018 Nobel Laureate for Economic Sciences and policy entrepreneur Chaired by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR Government, the panel’s distinguished speakers […]
Sea acquires Indonesian bank to gain fintech foothold
SINGAPORE (BLOOMBERG) – Singapore’s Sea Ltd, the tech start-up that’s become South-east Asia’s most valuable company, has acquired Indonesia’s Bank Kesejahteraan Ekonomi, according to people familiar with the matter. Sea […]
China averts liquidity squeeze that was wreaking havoc on bonds
BEIJING (BLOOMBERG) – China’s central bank has pumped enough cash into the banking system to convince government bond investors that the worst is finally over. Over the past month, the […]
China tells Ant to return to its roots in payments services
BEIJING • Chinese regulators have ordered billionaire Jack Ma’s online financial titan Ant Group to return to its roots as a provider of payments services, threatening to throttle growth in […]
World’s richest banker made $21 billion after brush with death
NEW DEHLI (BLOOMBERG) – If it weren’t for a cricket accident that almost killed him, Uday Kotak probably wouldn’t be the world’s richest banker. A ball that hit him in […]