Category: Finance

Retail Asia22/12/2021
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2min0
Vietnam’s biggest e-wallet company, MoMo, said it had raised $200 million from four investors led by Mizuho Bank, pushing its valuation above $2 billion. The consortium of investors also comprised Ward Ferry Management and existing shareholders Goodwater Capital LLC and Kora Management, MoMo said in a statement Tuesday. The exact valuation of the company was […]

Retail Asia17/12/2021
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1min0
The Swiss insurer is buying an Estonian start-up for conversational artificial intelligence. The move is a bid to improve the digital capabilities of its customer services. The Zurich-based insurer it is buying Alphachat, a four-year-old Tallinn-based company with a messaging automation product that understands natural language, authenticates users, and provides personalized responses, it said in a statement on Thursday. […]

Retail Asia17/12/2021
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2min0
UBS is reportedly in talks with insurance giant China Life to form an asset management joint venture. UBS is in discussions with China Life to form an asset management joint venture in the mainland, according to a report citing unnamed sources. The two have signed a memorandum of understanding and a formal launch will be […]

Retail Asia16/12/2021
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2min0
Bank Vontobel will open an office in Miami in coming months, in an expansion of its U.S. onshore presence. Zurich-based Vontobel will launch a wealth management office in Miami, its second in the U.S., CEO Zeno Staub said on Tuesday. The Swiss bank is the latest in a host of wealth managers to head for the […]

Retail Asia15/12/2021
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4min0
A French court’s ruling over money laundering in France puts UBS in front of a fundamental decision. Sometimes it pays to argue. A ruling after the first hearing over the solicitation of wealthy French clients in February 2019, threatened the bank with a record fine of 4.5 billion euros ($5.1 billion) including damages. Yesterday (Monday) […]

Retail Asia15/12/2021
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2min0
Vietnam’s benchmark VN-Index fell 0.01 percent to 1,476.02 points Tuesday with trading value the highest in six sessions. The index closed 0.19 points lower after gaining nearly 13 points Tuesday. Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 6.75 percent to VND27.65 trillion ($1.2 billion). The […]

Retail Asia13/12/2021
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2min0
Binance has withdrawn an application for a Singapore crypto permit via a local unit, marking an end to its pursuit to be a licensed bourse in the city-state. Binance Singapore has withdrawn the application and will shut down its operations in the city-state by February 13, according to a statement from the cryptocurrency giant. Our […]

Retail Asia13/12/2021
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1min0
Abu Dhabi state fund Mubadala said that it was not a crypto skeptic with optimism on investments in related infrastructure. Abu Dhabi’s Mubadala has invested in crypto-related infrastructure, according to its chief executive Khaldoon al-Mubarak in a recent interview. From our perspective, I think we look at the ecosystem around crypto, Mubarak said, citing examples such as blockchain technology […]

Retail Asia13/12/2021
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1min0
Switzerland’s largest lender is expanding its partnership with the iCapital Network platform to serve wealthy clients in Switzerland and Asia. UBS global wealth management is strengthening its ties to iCapital Network to gain access to the technology company’s data and analytics platform for private markets, according to a statement Thursday. Details of the deal were not […]

Retail Asia13/12/2021
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4min0
Switzerland’s largest online bank is riding the crypto wave. Swissquote’s ambitions include setting up its own trading platform for digital currencies, sales manager Jan De Schepper said. Swissquote plans to open its own crypto exchange before the end of the first half of 2022. We want to enable more trading in various cryptocurrencies on the […]

Retail Asia13/12/2021
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2min0
The property and casualty insurer has appointed a seasoned industry executive to lead its Singapore business. Chubb has appointed Kevin Bogardus as country president in Singapore, replacing Scott Simpson, who will become president for Chubb’s operations in Hong Kong and Macau, according to an announcement on Thursday. Bogardus, who brings more than 25 years of experience in the […]

Retail Asia10/12/2021
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1min0
The two sides reaffirmed their close ties and commitment to strengthening supervisory cooperation. The Monetary Authority of Singapore (MAS) and the China Banking and Insurance Regulatory Commission (CBIRC) made the commitment at their annual MAS-CBIRC Supervisory Roundtable, which was virtually on Wednesday, MAS said in a statement. The roundtable was chaired by MAS’ deputy managing director Ho […]

Retail Asia09/12/2021
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2min0
The fintech-as-a-service provider is expanding Greater China coverage and offering company incorporation, business accounts, credit cards, and payments services from a single platform. Rapyd has acquired Hong Kong-based Neat, a cross-border trade enabling platform for SMBs and startups, the fintech said a statement on Wednesday. Neat’s services, capabilities, and licenses will be integrated into Rapyd’s […]

Retail Asia09/12/2021
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3min0
The firm has is making strategic hires across investment banking and wealth management teams, as part of plans to rebuild in the region. U.K.-headquartered Barclays is targeting expansion in China, India, Singapore, and Australia, and is also hiring in Japan and Hong Kong, Jaideep Khanna, head of Barclays Asia-Pacific and India chief executive officer, said in […]

Retail Asia08/12/2021
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1min0
Binance Asia Services, which operates Binance’s Singapore entity, has taken an 18-percent stake in Hg Exchange (HGX), a Singapore-based private securities exchange. Binance Singapore will work with HGX in enhancing offerings of products and services supported by blockchain technology, following its strategic investment in the platform, according to an announcement on Wednesday. HGX, founded by PhillipCapital, PrimePartners […]

Retail Asia08/12/2021
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1min0
Zurich-headquartered Julius Baer has bolstered its products unit in Hong Kong with the appointment of a new head of fund specialists in Hong Kong. Jeffrey Tam has elevated to become Julius Baer’s head of fund specialists Hong Kong, according to a statement, overseeing fund advisory for Greater China clients across traditional and alternative investments. Tam first […]

Retail Asia08/12/2021
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1min0
Australian authorities will revamp the regulatory landscape for digital payments, broadening its remit on online transaction providers, cryptocurrency exchanges, and the possible creation of a central bank digital currency. On crypto exchanges, Australia will begin consultation early next year on establishing a licensing framework and regulations for businesses the hold crypto assets on behalf of consumers. It […]

Retail Asia07/12/2021
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1min0
The U.K.-headquartered fintech has obtained a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). Revolut is planning to roll out a stock trading feature on its app to Singapore customers, scheduled for the first half of 2022, which allows users to buy fractional shares in U.S. listed companies, the neobank announced […]

Retail Asia07/12/2021
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1min0
PhillipCapital’s derivatives broking arm in Malaysia has entered into a business sale and purchase agreement with Alliance Investment Bank to purchase its stockbroking business. The strategic partnership arrangement will allow Phillip Futures to expand its Futures, Options, and Contract for Difference broking services to include Stocks and Exchange Traded Funds to the Malaysian investors, according […]

Retail Asia07/12/2021
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1min0
Swiss financial giant UBS is the latest bank to announce reimbursement plans for employees from Hong Kong’s strict 21-day quarantine for travelers. For full-time Hong Kong-based employees up to the executive director level, UBS will reimburse up to HK$2,000 ($256) per day to cover quarantine hotel expenses costs to «reunite with immediate family» outside of […]


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