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Category: Finance

Retail Asia08/10/2021
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Finance

China’s Fintech Crackdown Not Over Yet

2min0
The governor of the country’s central bank said it would be taking more steps to curb monopolistic behavior among internet platform companies and strengthen consumer privacy and data security. We will continue to cooperate with anti-monopoly authorities to curb monopolies and actively deal with algorithm discrimination and other new forms of anti-competition behavior, Yi Gang, governor […]
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Retail Asia08/10/2021
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Finance

UBS In-House Lawyer Joins Law Firm Stephenson Harwood

2min0
The international tax and wealth planning specialist is strengthening its international private wealth capabilities with a new partner at its Singapore office. Stephenson Harwood has announced the addition of Suzanne Johnston as a partner, who joins from UBS, where she has been an in-house wealth planning lawyer since 2019. Johnston brings in-depth experience across different practice areas within private […]
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Retail Asia06/10/2021
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Finance

Citi Names Asia Clean Energy Head

2min0
Based in Hong Kong, the newly created role will support the bank’s clients with their transition to cleaner energy. Citi has appointed William Pang as head of natural resources and clean energy transition (NRCET) investment banking Asia, effective immediately, the U.S. lender announced in a statement on Tuesday. Pang joined Citi in 2015, and has over 18 […]
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Retail Asia06/10/2021
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Finance

Philippines’ Union Bank Opens Fintech HQ in Singapore

2min0
Union Bank’s fintech subsidiary UBX is expanding its operations in Singapore as it eyes growth in Asia. UBX, the financial technology venture studio and fund of Union Bank, hopes its Singapore headquarters will be a bridge for startups to enter the Philippine market, according to an announcement on Tuesday. Operations will be led by Singapore country head Cryus Cruz, who joined UBX […]
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Retail Asia04/10/2021
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Finance

Morgan Stanley’s China CEO Retires

1min0
Morgan Stanley’s chief executive of China will reportedly retire after nearly two decades with the American lender. Wei Sun Christianson will retire from her role as China CEO and APAC co-CEO – roles she held since 2006 and 2011, respectively – according to a memo from the bank. Christianson will remain as an advisory director at the bank […]
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Retail Asia04/10/2021
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Finance

DBS Vickers Wins Crypto License

2min0
The brokerage arm of Singapore lender DBS will be able to provide asset managers and institutional investors access to products and solutions offered by the DBS Digital Exchange (DDEx). DBS Vickers has received formal approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a Major Payment Institution, DBS announced […]
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Retail Asia01/10/2021
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Finance

UBS Partners With Robeco

2min0
Over the past years there has been some back and forth between UBS and Robeco. Now the two have joined forces to launch a sustainability fund. The investment company Robeco has launched a global engagement equities fund in partnership with UBS’ global wealth management, according to a statement Thursday. UBS will remain an exclusive partner for the […]
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Retail Asia29/09/2021
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Finance

Taiwan’s CTBC Bank Taps Avaloq for Private Banking Platform

2min0
CTBC Bank will implement Avaloq’s core banking solution internationally, starting from its business units in Hong Kong and Singapore. CTBC is consolidating and upgrade its international business on the Avaloq Core platform, in a bid to improve day-to-day operations, and enhance and deliver quality private banking services, according to an announcement on Tuesday. Avaloq Core will […]
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Retail Asia29/09/2021
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Finance

Singapore and Malaysia to Link Real-Time Payment Systems

3min0
The link will enable more seamless payments for the high volume of remittances between the two neighbors, which reached S$1.3 billion ($960 million) in 2020. Singapore and Malaysia’s central banks will be embarking on a phased linkage of PayNow and DuitNow, their national real-time payment systems, the Monetary Authority of Singapore (MAS) said in an […]
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Retail Asia29/09/2021
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Finance

UBS Creates ESG Role in Investment Bank

2min0
The Swiss bank appoints one of its investment bankers to a key sustainability role. Zurich-based UBS is naming Laurent Bouvier to front a new team of investment bankers focused on environmental, social, and governance responsibility, according to a memo seen by finews.com. Bouvier, a managing director, is currently co-head of the global industries group, with Charles Otton. Bouvier’s promotion […]
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Retail Asia29/09/2021
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Finance

China Intensfies Crypto Ban

2min0
China is ramping up its cryptocurrency prohibition efforts again with a directive issued by ten institutions last Friday covering a range of activities including offshore transactions and hiring. All crypto transactions in China are banned, according to authorities in a statement that highlighted examples such as Tether, Bitcoin and Ether. Banned crypto-related activities extend to […]
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Retail Asia29/09/2021
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Finance

Binance Halts Crypto Trading for Singapore Users

2min0
Binance announced a new round of curbs for its Singapore business, restricting crypto trading for users in the city-state. Users in Singapore will no longer be able to deposit fiat money, trade or purchase crypto via Binance.com from October 26, according to a statement. Advisers were also told to cease all related trades, withdraw fiat assets and […]
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Retail Asia24/09/2021
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Finance

Crypto Exchange FTX Quits Hong Kong

2min0
The digital assets derivatives exchange has moved its headquarters to Nassau, the Bahamas, citing friendlier regulation and no mandatory quarantine upon arrival in-country. The company’s chief executive officer, 29-year-old billionaire Sam Bankman-Fried told industry publication Blockworks that the proactive stance taken by The Bahamas and its regulatory bodies on cryptocurrencies» is one of the primary reasons […]
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Retail Asia23/09/2021
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Finance

Mobile Wallet YouTrip to Double Local Workforce

2min0
The company will be adding over 50 new hires in Singapore across engineering and product development by 2022. YouTrip has announced plans to grow its technology capabilities and product development to capture the rise of the multi-currency payments landscape. The Singapore-headquartered company will be establishing an innovation lab in the country to drive the development of a new suite of multi-currency products and […]
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Retail Asia22/09/2021
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Finance

Singapore-Based Fintech Thunes Makes Strategic Appointments

2min0
The fintech startup has made a pair of executive hires to support its global growth strategy. Thunes has appointed Irina Chuchkina as chief marketing officer and Babul Balakrishnan as head of customer care, who will both be based in Singapore, the global cross-border payments firm said on Tuesday. Fintech marketing leader Chuchkina, who is also an Executive Committee Member in […]
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