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Category: Finance

Retail Asia24/03/2022
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Finance

VN-Index slips after gaining streak

2min0
Vietnam’s benchmark VN-Index dipped 0.1 percent to 1,502.34 points Wednesday after six gaining sessions. The index climbed by 10 points in the morning but strong selling pressure in the afternoon pulled it down by 1.4 points after rising nearly 58 points in the last six sessions. Trading value on the Ho Chi Minh Stock Exchange […]
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Retail Asia23/03/2022
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Finance

VietinBank Securities eyes another record year

1min0
VietinBank Securities eyes record profits again this year through the stock market itself is likely to be down. Its board has approved a profit target of VND505 billion ($22 million), 5 percent up from last year. Last year pre-tax profits tripled to VND480 billion on revenues of VND1.06 trillion. Tran Phuc Vinh, its chairman, said […]
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Retail Asia21/03/2022
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Finance

Maybe SNB Should Invest in Bitcoin

2min1
It has long been clear to aficionados that crytptocurrencies are a new asset class belonging in portfolios as an inflation hedge. The Swiss National Bank can benefit from this, an industry expert explains. The Swiss National Bank has a number of extremely large investments in equities and other instruments, which it has used to counter […]
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Retail Asia21/03/2022
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Finance

Sberbank Approved to Issue Digital Assets

5min0
Russia’s largest bank has been approved by the Bank of Russia to issue digital financial assets on its platform starting a month from now. Sberbank received regulatory approval to start issuing digital financial assets (DFAs), Russia’s largest bank announced in a statement Thursday. It has been included in the list of information system operators issuing digital […]
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Retail Asia18/03/2022
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Finance

UBS Exiting Mitsubishi Venture in Japan

2min0
Switzerland’s largest bank is selling its joint real estate venture with Mitsubishi to an investment firm. UBS announced it is exiting a 20-year joint real estate venture in Japan, agreeing with its partner Mitsubishi to sell its Mitsubishi Corp.-UBS Realty Inc. (MC-USBR) to investment firm KKR, UBS said in a statement released Thursday. UBS said it expects […]
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Retail Asia17/03/2022
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Finance

Stock trading hits five-week low

2min0
Vietnam’s benchmark VN-Index rose 0.45 percent to 1,459.33 points Wednesday with trading value plunging to a five-week low as investors tread carefully amid uncertainties. The index stayed in the green throughout the day and closed nearly seven points higher after rising over six points Tuesday. Markets in China and other Asian countries also rose Wednesday […]
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Retail Asia17/03/2022
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Finance

Starbucks forges regional partnership with Grab

7min0
Starbucks today announced an integrated partnership with Grab, Southeast Asia’s leading superapp, across six markets, including the Philippines, Thailand, Singapore, Malaysia, Indonesia, and Vietnam. The partnership will provide customers across Southeast Asia with a seamless Starbucks Experience, allowing them to earn Starbucks Rewards benefits on purchases through Grab, have more ways to order and pay […]
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Retail Asia15/03/2022
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Finance

Former Wirecard Bosses Indicted

3min0
Three ex-Wirecard bosses could face ten years in prison after prosecutors issue indictments, while one former executive is still on the run. In June 2020, German fintech Wirecard was forced to admit that there was a 1.9 billion euros ($2.2 billion) hole in its balance sheet, leading to bankruptcy proceedings. Now, three former heads of […]
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Retail Asia11/03/2022
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Finance

More Money Reaching Fewer Fintechs

3min0
Although there was a slight slowdown in the Swiss fintech scene last year, there is still much to celebrate. In 2021, the number of fintech companies in Switzerland declined for the first time in six years, yet the volume of business increased, according to an industry study by Lucerne University of Applied Sciences and Arts […]
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Retail Asia08/03/2022
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Finance

UBS Discloses Russian Exposure

2min0
Switzerland’s biggest bank warns about ongoing effects on markets and the global economy from measures caused by Russia’s attack on Ukraine. Out of UBS’ total emerging market exposure of $20.9 billion at the end of last year, $634 million was attributable to exposure in Russia, the bank said in its annual report for 2021 Monday. This amount, which […]
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Retail Asia03/03/2022
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Finance

UBS Bankers in Spain Jumping Ship

2min0
UBS sees bankers and managers depart from its Spanish unit prior to its sale to a local competitor. A decision by UBS last year to sell its Spanish unit to Singular bank appears to have led to an exodus of at least eight private bankers and managers, Bloomberg reported Wednesday. Two of the departing bankers are said to […]
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Retail Asia02/03/2022
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Finance

UBS Revamps Family Office

1min0
The architect of UBS’ family office business and top banker, Joe Stadler, is stepping aside as the unit gets an overhaul. UBS is reshuffling its global family office division, which caters to the needs of its wealthiest clients, citing an internal memo. The prestigious unit will become part of the new global family and institutional […]
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Retail Asia01/03/2022
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Finance

Sanctions Hit First Banks

4min0
The first Eurozone Banks get hit by sanctions while Switzerland is waiting to see if the Federal Government follows in the EU’s steps. To some degree or another, Swiss banks will not be able to escape sanctions against Russia, whether they affect corporate loans, commodity trade financing or business with wealthy clients from Russia. Switzerland’s […]
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Retail Asia01/03/2022
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Finance

Russia’s large holdings of foreign exchange could pose a problem for financial markets.

2min0
Russia holds vast foreign exchange reserves, a large chunk of which are held offshore, having the potential to upend money markets. The country had international reserves totaling $630 billion at the end of January, consisting of $467 billion in foreign exchange and $132 billion in gold. The rest consists of special drawing rights (SDRs) and IMF reserves, Bank […]
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Retail Asia28/02/2022
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Finance

Revolut Founders: a Russian and a Ukrainian

2min0
Vladimir Putin could learn a thing or two about successful cooperation from the co-founders of Revolut. Revolut’s co-founders CEO Nik Storonsky and CTO Vlad Yatsenko, who are Russian and Ukrainian respectively, show what a successful collaboration between the two nationalities can accomplish. Founded in 2015, Revolut is both the fastest growing and widely used neo bank in Switzerland. […]
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Retail Asia24/02/2022
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Finance

Rabobank sounds warning of food price inflation

9min0
The current tremendous inflationary pressure on the cost base of virtually every food producer has yet to be absorbed further downstream in the supply chain. Will it be the consumer, the food retailer, or the foodservice operator that ultimately picks up the bill? Or will the problem be pushed back into the chain? Inflation in […]
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Retail Asia23/02/2022
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Finance

HSBC More Than Doubles Profit

3min0
HSBC more than doubled its profit in 2021, despite flat revenues and costs, driven by a significant improvement in expected credit losses. HSBC reported $14.7 billion in profit after tax for 2021, according to its latest results, marking a 141 percent increase compared to 2020. Revenue ($49.6 billion, down 2 percent) and operating expenses ($32.1 […]
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Retail Asia21/02/2022
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Finance

UBS Fintech Pioneer Joins Digitization Initiative

2min0
The Open Wealth Association is taking a big step toward a standardized digital interface for wealth managers by appointing a top UBS executive to its board. Switzerland’s largest bank is the seventh member of the Open Wealth Association, whose mission is to strengthen Switzerland as a financial hub and innovation center. It aims to connect financial […]
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