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05. May 2024
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Category: Finance

Retail Asia29/11/2021
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Finance

Vietnamese plunge headlong into meme coin market

4min0
Vietnamese are rushing to invest in so-called ‘meme coins’, hoping to make a killing but ignoring the huge risks of buying a volatile asset talked up by social media. In the second quarter The Nghia in the northern province of Vinh Phuc invested $20 to buy nearly 100 Dogecoins, a cryptocurrency that has overwhelmed the […]
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Retail Asia29/11/2021
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Finance

DLA Piper Hires New Partner in Hong Kong

2min0
Over the past couple of years, DLA Piper has welcomed several new partners to its Asia Corporate practice. Now the firm announces another hire. Global law firm DLA Piper continues to strengthen Asia capital markets offering with new partner hire in Hong Kong, the firm announced Monday. George Wu was appointed as a capital markets partner in its corporate […]
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Retail Asia26/11/2021
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Finance

PPRO Grows in Indonesia

3min0
The payments infrastructure provider has announced the integration of Indonesian buy now pay later (BNPL) pioneer Kredivo to its platform. PPRO is partnering with Kredivo – one of Indonesia’s largest and fastest-growing digital credit platforms – to allow more merchants to reach a large pool of underbanked or unbanked Indonesians. The integration is a cooperation […]
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Retail Asia25/11/2021
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Finance

DBS Hit by Worst Outage in a Decade

2min0
DBS faced two consecutive days of disruptions to its online banking services, marking the worst outage for the Singapore lender since its ATM glitch in 2010. DBS issued a social media post to address the recurring disruptions to its online banking services, including its payments app. Services were restored early this morning,» the bank said […]
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Retail Asia25/11/2021
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Finance

Watchdog Greenlights NAB’s Citi Acquisition in Australia

2min0
The acquisition «would not substantially lessen competition,» the Australian Competition and Consumer Commission (ACCC) said on Thursday. The competition watchdog in Australia will not oppose the proposed acquisition of Citigroup Australia’s consumer business by National Australia Bank. Its review focused on competition in the supply of credit cards, as Citi is a substantial provider of credit […]
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Retail Asia25/11/2021
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Finance

DBS May Face Regulatory Action Over Outage

2min0
The Monetary Authority of Singapore said it will consider appropriate supervisory actions on DBS, which suffered recurring disruptions to its online banking services, including its payments app. This is a serious disruption and MAS expects DBS to conduct a thorough investigation to identify the root causes and implement the necessary remedial measures, Marcus Lim, MAS’ […]
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Retail Asia24/11/2021
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Finance

Australian Regulator Warns of Lacking Crypto Protection

1min2
The Australian Securities and Investments Commission cautioned investors about cryptocurrency risks, noting that they are «on their own» for the time being as efforts are underway to develop regulations. Consumers should approach investing in crypto with great caution, said ASIC chair Joe Longo at the recent Australian Financial Review Conference. At present many crypto-assets are probably […]
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Retail Asia24/11/2021
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Finance

Citi Hires for New Digital Assets Unit

2min0
Talent hired to work on Citi’s crypto division will be based in Singapore, in addition to London, New York, and Tel Aviv. Citi has appointed Puneet Singhvi to the bank’s ICG Business Development team on 1 December as the ICG head of digital assets, reporting to Emily Turner, head of business development, with a matrix reporting line to Stuart Riley, global head […]
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Retail Asia24/11/2021
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Finance

Personal deposits down across banking sector

1min0
Personal bank deposits were nearly VND5,292 trillion (some $230 billion) by late September, down roughly VND1.5 trillion against late August, according to the central bank. Since July, monthly bank deposits fell against previous months, the State Bank of Vietnam stated, noting deposits in August decreased by some VND1 trillion against July. From early January to […]
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Retail Asia24/11/2021
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Finance

StanChart Hires Amazon Technologist

2min0
He relocates to Singapore from Sydney, where he spent four years as a senior manager, solution architecture, at Amazon Web Services (AWS). Standard Chartered has appointed technologist Brendan Royal as its global chief architect, according to a report on «eFinancialCareers.» Royal has over 20 years of experience in financial services across retail, wealth and corporate banking, specializing […]
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Retail Asia24/11/2021
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Finance

China’s Anti-Monopoly Crackdown Hits Banking Sector

2min0
Chinese regulators extend their antitrust crackdown to the banking sector with a fine against shareholders of a virtual lender. The shareholders of Chinese virtual lender AliBank – China Citic Bank (70 percent) and a Baidu unit called Fujian Baidu Bo Rui Netcom (30 percent) – have been fined 500,000 yuan ($78,280) over a violation of […]
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Retail Asia22/11/2021
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Finance

UBS Fund Managers to Exit Amid China Property Crisis

2min0
Another two portfolio managers are leaving the bank after a fund was hit by China’s high-yield bond market slump triggered by China Evergrande’s debt woes. Singapore-based Jiayi Yew and Brian Lou in China will leave the bank in January, citing a company spokesperson. The pair reported to Ross Dilkes, who is also leaving the company after more than 16 years. Dilkes […]
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Retail Asia22/11/2021
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Finance

UBS Names Successor to Chairman Axel Weber

2min0
The Swiss bank’s board is nominating a veteran of Morgan Stanley as chairman. UBS will also elevate a Swiss stalwart as his deputy. Zurich-based UBS is nominating Colm Kelleher as its next chairman, it said in a statement on Saturday. The 64-year-old Irishman, who spent most of his career at Morgan Stanley in the U.S., is to replace Axel Weber, who […]
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Retail Asia22/11/2021
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Finance

Deutsche Bank Backs Nomination of Ex-Aegon Chief as Chairman

2min0
Deutsche Bank’s supervisory board committee supported the nomination of a new chairman, formerly from Dutch insurance firm Aegon. The supervisory board committee fully backed the nomination of Alexander Wynaendts as the German lender’s new chairman and he now awaits the appointment to be confirmed by shareholder votes in May, according to a report citing an internal memo. If successful, […]
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Retail Asia19/11/2021
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Finance

Saxo Bank Taps Another Veteran of UBS

1min0
The bank’s Swiss arm is enlisting the services of a 37-year veteran of Swiss heavyweight UBS. Saxo Bank is adding Claudius Sutter to its board of directors, it said in an emailed statement on Wednesday. Sutter takes over for Tino Gaberthuel, who is not standing for reelection. The move is noteworthy because Sutter spent 37 years at UBS’ […]
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Retail Asia19/11/2021
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Finance

UBS Opens Major New Asian Office

2min0
The Swiss banking giant’s top two were on hand to open a new office in Singapore – its largest in the wider region. Zurich-based UBS officially opened its Singapore office at 9 Penang Road, in a ceremony that featured Chairman Axel Weber, CEO Ralph Hamers, and Asia-Pacific boss Edmund Koh, it said in a statement. The 400,000 square feet of prime […]
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Retail Asia18/11/2021
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Finance

LGT Opens Private Banking Office in Japan

2min0
Liechtenstein-headquartered LGT opened a new wealth management office in Tokyo as part of its efforts to capture opportunities in Japan’s private banking market. Following regulatory approvals, LGT has opened a new office in the Okura Prestige Tower located in Tokyo’s business district, according to a statement. The unit will aim to provide bespoke wealth management […]
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Retail Asia18/11/2021
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Finance

UBS Officially Opens Singapore Office

2min0
Swiss banking giant UBS has opened its largest Asia Pacific office in Singapore, alongside the announcement of two new tech-related initiatives. UBS officially opened its Singapore office at 9 Penang Road yesterday in a ceremony that featured chairman Axel Weber, global chief executive Ralph Hamers, APAC CEO Edmund Koh and more. Fully running on renewable energy, the 400,000 square feet […]
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