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Tag: financial

Retail Asia27/07/2022
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Finance

UBS Clients Face Most Difficult Environment in a Decade

4min0
Despite one of the most challenging investment environments in a decade, Switzerland’s largest bank managed to match its first-quarter profit performance in the second. UBS reported a net profit of $2.1 billion in the second quarter despite facing numerous challenges and despite an 11 percent drop in pre-tax profit in the global wealth management (GWM) […]
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Retail Asia20/06/2022
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Finance

VN-Index plunges with rising trade

2min0
Vietnam’s benchmark VN-Index dropped 1.56 percent to 1217.30 points Friday with trading value rising double-digit. The index closed 19 points lower after gaining nearly 23 points on Thursday. It has lost 67 points this week as global markets plunged due to concerns of inflation and disrupted supply chains. Trading on the Ho Chi Minh Stock […]
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Retail Asia12/04/2022
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Finance

Game Your Way to a Job at Julius Baer

3min0
The Swiss bank is launching its own video game to attract future tech talent. In an effort to attract future tech talent, Swiss bank Julius Baer is offering its own game on the video game platform Roblox where candidates can take the Be Baer Challenge in the metaverse, the bank announced Monday. How many times must […]
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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 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 Asia06/12/2021
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Finance

UBS Asset Management Names Sustainability Head

1min0
Swiss bank UBS is hiring a sustainable expert for its asset management arm. The experienced banker used to manage the investments of an Australian state. UBS asset management is appointing Lucy Thomas as head of sustainable investing, the bank said in an emailed statement. Thomas will lead sustainability and impact strategy and report to Barry Gill, head of […]
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Retail Asia09/08/2021
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Finance

Binance Shuts Futures Accounts in Hong Kong

1min0
The world’s largest crypto exchange Binance said it would no longer allow new users to open futures accounts in Hong Kong, following warnings issued by the city’s regulators. Existing users will have a 90-day period to close their positions, Binance said, and no new positions thereafter can be opened. As the market leader, Binance constantly […]
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Retail Asia24/05/2021
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Finance

UBS Fined for Rigging European Bond Trading

2min0
The European Commission censured seven investment banks for maintaining a cartel on European government bond-trading. The Swiss bank was hit with the largest fine, despite cooperating. Brussels extracted a total of 371 million euros ($453 million) on UBS, UniCredit, and Nomura for a seven-bank ring which colluded between 2007 and 2011 on prices and volumes of European government […]
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Retail Asia03/05/2021
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Finance

HSBC AM Names Asia Head of Credit Research

2min0
HSBC’s asset management arm appoints a new head of credit research in Asia amid an ongoing expansion across its product range and distribution capabilities in the region. HSBC Asset Management appoints Seok Poh Yeoh as head of credit research for Asia, according to a statement, effective immediately. In her Hong Kong-based role, Yeoh reports locally to head […]
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Retail Asia30/04/2021
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Finance

DBS Doubles Quarterly Earnings

2min0
The board is recommending an interim dividend of 18 cents per share, to which the scrip dividend scheme will be applied. Net profit at DBS grew to S$2.01 billion ($1.52 billion) for the January-March period, up from S$1.01 in the previous quarter and 72 percent higher year-on-year, according to first-quarter earnings posted on Friday. It […]
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Retail Asia21/04/2021
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Finance

DBS Deepens Roots in China

2min0
The bank will accelerate its expansion in the rapidly growing Greater Bay Area with a stake in Shenzhen Rural Commercial Bank. DBS has entered into an agreement to acquire a 13 percent stake in Shenzhen Rural Commercial Bank in a deal valued at RMB 5.286 billion ($813.2 million), as part of its strategy of investing in its core […]
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Retail Asia09/04/2021
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Finance

HDBank profit up 87 pct

1min0
HDBank reported a 67 percent increase year-on-year in consolidated profit in the first quarter to over VND2 trillion ($86.9 million). Its outstanding loans at the end of the quarter were VND198 trillion, up 5 percent from the end of last year. The parent bank’s profit was VND1.8 trillion, up 87.7 percent. The lender also owns […]
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Retail Asia08/03/2021
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General

Singapore-Based Compliance Specialist Partners HPE

2min0
Tookitaki is partnering with Hewlett Packard Enterprise to provide the financial sector with enhanced anti-money laundering capabilities using artificial intelligence and machine learning. The offering, delivered via HPE GreenLake for Big Data, enables financial institutions to create a central big data platform capable of rolling out anti-money laundering solutions centered around data analytics, the Singapore-based regtech […]
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Retail Asia10/02/2021
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Finance

SGX Joint Venture to Launch Asian Bond Trading Platform

2min0
The XinTru joint venture with corporate bond trading platform provider Trumid and private equity firm Hillhouse Capital, will launch a new electronic bond trading platform later this year. This partnership combines Trumid’s cutting-edge technology and fixed income expertise, SGX’s deep experience in Asian financial market infrastructure and electronic trading, and Hillhouse’s expertise and network in […]
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Retail Asia04/01/2021
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Finance

Crypto Rumbles Central Bank Sovereignty

7min0
The private sector has long driven innovation on digital currencies but as fintech’s plans became more powerful, central banks sprang to attention. Their main concern? Keeping monetary policy in their purview. The most tantalizing tales in cryptocurrencies this year weren’t written by Libra or bitcoin, but by national or supranational projects like the digital euro. While […]
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Retail Asia23/12/2020
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Finance

Wirecard Seeks Buyer in Singapore

2min0
The firm was ordered to cease payment services in the country in October, and to return all customers’ funds, amid an investigation into missing funds. Payments services provider Wirecard is seeking a buyer for its Singapore entity and has at least one party interested in acquiring the business, according to a report on Tuesday. The […]
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