Singapore's three local banks are likely to experience margin squeeze in the third quarter as the Singapore Inter-bank Offered Rate heads south, following in the footsteps of Federal Reserve's rate movement. Analysts are also watching non-performing loan ratios amidst...
PT Bank Central Asia is reportedly reining in on costs with drastic measures including restrictions on drinking water for staff.
UOB-Kay Hian is optimistic about the prospects of traditional brokerage noting that people are still willing to pay «a few basis points» for the human touch.
While banks have shuttered trading desks and trimmed headcounts there, big hedge funds eyeing expansion in Asia are looking to hire.
HSBC posted a 24 percent drop in third quarter profits despite a «resilient» Hong Kong business that managed to offset the city’s technical recession.
UBS CEO Sergio Ermotti has been reluctant to define specific, bank-wide spending cuts – until now. The Swiss banker signaled he is ready to get ruthless.
The asset management industry does not lack for challenges. Falling margins, increasing cost pressures and stricter compliance requirements make the efficiency gains generated by smart technology all the more important.
Standard Chartered recently opened its second «eXellerator» innovation lab in Hong Kong which will focus on developing solutions for its corporate, commercial and institutional banking clients.
Bangko Sentral ng Pilipinas aims to issue new implementation rules regarding Islamic finance before the end of the year and potentially allow banks to establish separate subsidiaries for the new business line.
DBS inks an agreement with Allfunds to leverage its fund distribution capabilities and boost penetration in Asia.
The Australian Securities and Investments Commission imposed additional conditions on the country’s second-largest wealth manager IOOF, as its restructuring led it to seek a license variation.
AIA released a statement early to quash rumors about its financial performance, highlighting that its Hong Kong business was hit by reduced mainland Chinese visitors.
Ongoing unrest in Hong Kong has led insurance claims to reach around $77 million – the third-highest amount in the city’s history by incident.
China’s national parliament has passed a new law on cryptography aimed to facilitate development concurrently with the country’s central banking efforts to launch its own digital currency.
More easing is required in the industry not only to improve ease of business, said a senior HSBC executive, but to prevent risks similar to the Lehman crisis.
Chinese President Xi Jinping called for more research and investments to be made into blockchain technology which he touted as playing a key role in the «next round» of transformation.
Credit Suisse CEO Tidjane Thiam last year shunned a meeting in Saudi Arabia following the murder of a journalist. This year, Switzerland’s second-largest bank is sending a high-ranking delegation to the desert meeting.
Independent central banks, a model that has proven to be successful, are under massive pressure in many countries and must defend themselves against short-term political interests, writes Andreas Vetsch in his exclusive essay for finews.first.
While alternative payment methods are growing among corporates for travel-related expenses, cash remains one of the most popular means of payment in Southeast Asia (ASEAN), according to a Citi study.
Following a $3.8 billion wealth transferal from Sino Biopharmaceutical founders to their son, Eric Tse has declined to participate in rankings of the world’s richest in his own name.
Page 557 of 1007
