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World Bank cuts Thailand’s economic outlook to 2.4%

Thailand’s economic growth forecast for this year has been revised down to 2.4% from 2.8%, impacted by sluggish exports and public...

South Korea imposes record fines on UBS affiliates for illegal short selling

Jul 4

South Korea imposes record fines on UBS affiliates for illegal short selling

The Financial Services Commission of Korea has levied record fines totaling KRW27.17bn (USD19.5) against two UBS AG affiliates—formerly...

Jul 4

FAMILY OFFICES

Singapore revokes tax benefits for family offices in USD3bn scandal

Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, who also chairs the Monetary Authority of Singapore...

Investors sue Mitsubishi UFJ over worthless Credit Suisse bonds

Jul 3

ASSET MANAGEMENT

Investors sue Mitsubishi UFJ over worthless Credit Suisse bonds

Investors in Japan have filed a new lawsuit against Mitsubishi UFJ Financial Group’s brokerage unit over losses from Credit Suisse’s...

Taiwan’s major tax evasion cases decline in numbers, value

Jul 3

Taiwan’s major tax evasion cases decline in numbers, value

Major tax evasion incidents in Taiwan decreased to 915 last year, with unpaid taxes falling to NTD89.51bn (USD2.75bn), according to the...

Jul 3

FAMILY OFFICES

Hong Kong to host wealth legacy summit for family offices in September

The Hong Kong Academy for Wealth Legacy is set to host a three-day summit from September 12 to 14, aiming to bolster Hong Kong’s role as...

Vietnam tightens credit rules, impacting banks and big businesses

Jul 3

Vietnam tightens credit rules, impacting banks and big businesses

A new regulation under the amended Law on Credit Institutions, effective July 1, reduces bank credit limits for major clients,...

EY’s major investment to shape future of accounting in SG

Jul 2

OTHER NEWS

EY’s major investment to shape future of accounting in SG

EY Singapore announced a SGD100m (USD74m) investment over five years to enhance its talent development initiatives and increase the...

Hong Kong and PBOC to enhance cross-border remittances

Jul 2

OTHER NEWS

Hong Kong and PBOC to enhance cross-border remittances

Hong Kong’s monetary authority is set to collaborate with the People’s Bank of China (PBOC) to enhance cross-border remittance services,...

Central banks in Asia launch cross-border instant payment platform

Jul 2

Central banks in Asia launch cross-border instant payment platform

The central banks of India, Malaysia, Thailand, Singapore, and the Philippines are collaborating under the Bank of International...

HSBC targets top spot in Asian wealth management

Jul 2

ASSET MANAGEMENT

HSBC targets top spot in Asian wealth management

Annabel Spring, head of HSBC Holdings’ private banking, is spearheading a new recruitment initiative aimed at reclaiming the title of...

World Bank names new director to boost economic programmes in SE Asia

Jul 1

World Bank names new director to boost economic programmes in SE Asia

The World Bank announced Zafer Mustafaoglu as the new Country Director for the Philippines, Malaysia, and Brunei Darussalam, starting...

China’s financial giants enforce new pay cap for senior staff

Jul 1

China’s financial giants enforce new pay cap for senior staff

China’s major financial conglomerates, including China Merchants Group, China Everbright Group, and Citic Group, have directed senior...

Jul 1

Hong Kong banks see 5% profit rise

Hong Kong’s retail banks recorded a 5% increase in pre-tax operating profit in the first quarter year-on-year, driven by higher...

Barclays appoints new DPM head for Singapore operations

Jul 1

Barclays appoints new DPM head for Singapore operations

Barclays Private Bank has appointed Ong Shun Wei as the new head of Discretionary Portfolio Management (DPM) in Singapore, according to...

54% of Philippine CEOs doubt business viability without change

Jun 28

54% of Philippine CEOs doubt business viability without change

Over half of CEOs in the Philippines worry their businesses won’t be viable in the next decade without significant changes, reports PwC...

40% of Taiwanese workers face financial difficulties despite wage hike

Jun 28

40% of Taiwanese workers face financial difficulties despite wage hike

In Taiwan, workers earned an average monthly wage of TWD47,000 (USD1,443) this year, marking a 5.4% increase from last year, hitting a...

Natixis CIB forms strategic alliance with Woori Bank in Seoul

Jun 28

OTHER NEWS

Natixis CIB forms strategic alliance with Woori Bank in Seoul

Paris-based Natixis Corporate & Investment Banking (Natixis CIB) has formed a strategic alliance with Korea’s Woori Bank following the...

Standard Chartered expands investment management in Singapore

Jun 28