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Asian central bank chiefs highlight AI risks to financial stability

Two central bank chiefs from Asian financial hubs expressed concerns about the risks artificial intelligence (AI) might pose to financial...

HK to host third global financial leaders’ summit in November

May 9

HK to host third global financial leaders’ summit in November

Hong Kong will host the third annual Global Financial Leaders’ Investment Summit from November 18 to 20, as reported by the SCMP...

JPMorgan cuts Asian investment banking jobs: UBS share price surges

May 9

PEOPLE MOVES

JPMorgan cuts Asian investment banking jobs: UBS share price surges

JPMorgan has initiated another round of layoffs in Asia, cutting at least seven investment-banking positions across the consumer, energy,...

Hanwha Life acquires 40% stake in Indonesia’s Nobu Bank

May 8

Hanwha Life acquires 40% stake in Indonesia’s Nobu Bank

Hanwha Life, part of South Korea’s Hanwha Group, has acquired a 40% stake in Indonesia’s Nobu Bank, marking its first venture into the...

Asian investors shift towards diversification amid global uncertainties

May 8

ASSET MANAGEMENT

Asian investors shift towards diversification amid global uncertainties

FleishmanHillard’s The Future of Asset Management in Asia 2024 report reveals Asian investors are diversifying their portfolios amid...

Philippines and Cambodia draft double taxation agreement

May 8

Philippines and Cambodia draft double taxation agreement

The Philippines and Cambodia have completed the draft of a double taxation agreement (DTA), announced by the Department of Finance on...

Nomura sets 20% revenue target for global markets unit

May 8

Nomura sets 20% revenue target for global markets unit

Nomura Holdings Inc. is targeting a 20% revenue increase for its global markets unit over the coming years, moving past setbacks like the...

Citi names Damien Tan to lead Singapore corporate banking

May 7

PEOPLE MOVES

Citi names Damien Tan to lead Singapore corporate banking

Citi has appointed Damien Tan as the head of its corporate banking division in Singapore, effective May 1. In this role, Tan will lead...

GXBank, Zurich launch partnership for inclusive insurance in Malaysia

May 7

GXBank, Zurich launch partnership for inclusive insurance in Malaysia

GX Bank Berhad (GXBank), backed by Grab, alongside Zurich General and Life Insurance Malaysia, has announced a decade-long exclusive...

New reporting mandate for financial crimes in the Philippines

May 7

New reporting mandate for financial crimes in the Philippines

The Philippines’ central bank has introduced a new requirement for financial institutions to report money laundering and terrorist...

Central banks urged to adopt digital currencies for stability, efficiency

May 7

Central banks urged to adopt digital currencies for stability, efficiency

European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau advocates for central banks to adopt digital currencies...

May 6

Hong Kong economy surpasses expectations with 2.7% growth in Q1

Hong Kong’s economy grew by 2.7% in the first quarter of 2024, exceeding market expectations of 0.8% growth but slower than the 4.3% seen...

ESG bond issuances surge in SE Asia early 2024

May 6

ASSET MANAGEMENT

ESG bond issuances surge in SE Asia early 2024

Environmental, social, and governance (ESG) bond issuances in Southeast Asia have seen a significant uptick in early 2024, with proceeds...

AEON Bank and Visa collaborate to boost digital payments in Malaysia

May 6

AEON Bank and Visa collaborate to boost digital payments in Malaysia

AEON Bank, Malaysia’s inaugural Islamic digital bank, has partnered with Visa to revolutionise digital payments and enhance cashless...

JLL appoints Taeho Yi as new country manager for South Korea

May 6

PEOPLE MOVES

JLL appoints Taeho Yi as new country manager for South Korea

Real estate company JLL has announced the appointment of Taeho Yi as the new country manager for South Korea, effective June 2024. Based...

Singapore’s MAS lifts operational pause on DBS Bank, monitors compliance

May 3

Singapore’s MAS lifts operational pause on DBS Bank, monitors compliance

The Monetary Authority of Singapore (MAS) announced today that it will not extend the operational pause imposed on DBS Bank Ltd, which...

Philippines outperforms major Asian economies in growth, says IMF

May 3

Philippines outperforms major Asian economies in growth, says IMF

The International Monetary Fund (IMF) highlighted the Philippines as one of the resilient economies in the region, driven largely by...

Vietnam, Korea strengthen ties over financial stability seminar

May 3

Vietnam, Korea strengthen ties over financial stability seminar

Vu Ne Tang, the acting chief of Vietnam's National Financial Supervisory Commission, expressed appreciation for Korea's guidance on...

Mixed financial trends in HK's March monetary report

May 3