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Tag: money

Retail Asia12/05/2023
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Finance

Standard Chartered cuts Vietnam growth forecast to 6.5%

4min0
Standard Chartered has reduced Vietnam’s GDP growth forecast for this year by 0.7 percentage points to 6.5%. In a release Thursday the British bank said it amended the forecast it had made in January of 7.2% growth after considering external factors more carefully with Vietnam’s macro indicators slowing down in the last four months. Exports […]
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Retail Asia28/04/2023
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Living

Laos raises minimum wage for workers

2min0
The Lao Government has decided to raise the monthly minimum wage from LAK1.2 million (nearly US$70) to LAK1.3 million starting May 1 to ease workers’ difficulties amid soaring inflation and economic uncertainties. The decision was made at the Lao Government’s meeting held on April 25 – 26 under the chair of Prime Minister Sonexay Siphandone. […]
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Retail Asia05/12/2022
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Finance

Eximbank profits triple in Q3

1min0
Lender Eximbank has tripled profits year-on-year for the third quarter to over VND1.278 ($51.5 million). Its net interest income doubled, and non-interest income from services and foreign exchange businesses grew in double digits. Its profits for the first nine months topped VND3.18 trillion, an increase of 3.3 times and well above the target of VND2.5 […]
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Retail Asia22/07/2022
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General

Preventing Money Laundering Risks of E-Commerce

8min0
The development of technology and growing internet presence have created a lot of opportunities for modern-day businesses. There is hardly an industry sector left that hasn’t experienced the benefits, but among them, ecommerce has benefited the most. Considering it hasn’t even existed until the nineties, ecommerce has revolutionized how we shop during this short time. […]
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Retail Asia06/04/2022
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Research

Mobile money industry reached record $1 trillion in 2021

6min0
Mobile money adoption and use saw continued growth in 2021, processing a record $1 trillion annually, according to the GSMA’s 10th annual “State of the industry report on mobile money”. The industry enjoyed a substantial increase in the number of registered accounts, up 18% since 2020 to reach 1.35 billion globally. The volume of person-to-person transactions […]
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Retail Asia09/11/2021
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Finance

China Records First Case of Money Laundering via CBDC

1min0
The pioneer of central bank digital currency, China recorded its first case of money laundering via the electronic yuan. Officials arrested 11 members of a criminal group in the Fujian province last week for allegedly laundering money using the country’s central bank digital currency (CBDC), according to Chinese media reports. The group allegedly scammed an […]
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Retail Asia19/08/2021
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Finance

Vietnam leads globally in cryptocurrency adoption

2min0
Vietnam leads globally in cryptocurrency adoption with 41 percent of respondents claiming to have bought Bitcoin and the like, according to a recent survey. Twenty percent of Vietnamese said they had purchased Bitcoin, the highest among 27 countries polled with 42,000 respondents, according to the survey by U.S. based financial consultancy Finder. “Remittance payments may […]
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Retail Asia04/08/2021
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Finance

HSBC Names Head of Qatar Private Banking

1min0
The bank has named a long-standing stalwart to enhance HSBC’s client proposition in Qatar. HSBC has named Ibrahim Al Abed as its head of private banking in Qatar, according to an announcement on Wednesday. Based in Qatar, Al Abed reports to Sobhi Tabbara, global market head, Middle East and North Africa, Private Banking, and Abdul Hakeem Mostafawi, CEO of […]
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Retail Asia26/04/2021
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General

AirAsia launches airasia money, partners RinggitPlus to provide loan application services in app

4min0
AirAsia Bhd has expanded its airasia super app to provide financial products and services under the “airasia money” banner, beginning with a partnership with financial comparison platform RinggitPlus. Through its partnership with the platform, airasia money currently provides credit card and loan application services. The financial marketplace will also allow users to obtain the best […]
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Retail Asia27/10/2020
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General

AirAsia X ‘out of money’

4min0
The long-haul budget carrier AirAsia X Bhd has run out of money and needs to raise up to 500 million ringgit (US$120 million) to restart the airline, according to deputy chairman Lim Kian Onn. The Malaysia-based affiliate of AirAsia Group said this month it wanted to restructure 63.5 billion ringgit ($15.3 billion) worth of debt […]
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Retail Asia27/07/2020
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Finance

Samsung Money arrives in the US, here are all the perks

4min0
Samsung has just introduced Money by SoFi in the United States, as part of the Samsung Pay mobile payment system. Samsung Money offers both physical and virtual perks for those who order the plastic chip card that enables them to use the service. Launched in partnership with the fintech startup SoFi, Samsung Money supplements the online aspect of […]
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Retail Asia27/01/2020
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Finance

Money Laundering’s Last Bastion Set to Fall

5min0
Financial regulators are cracking down on the opaque international fine art market’s untoward methods and loopholes for money laundering. The Swiss «Bouvier case» was the trigger. Prosecutors in Geneva and New York are wading through reams of evidence allegedly documenting one of the largest frauds in the secretive market for fine art. Russian oligarch Dmitry Rybolovlev is […]
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Retail Asia13/01/2020
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Finance

All-Digital Bank to Launch in Philippines

3min0
Tonik, the first pure-play digital bank in Southeast Asia, will debut in the Philippines in 2020. Tonik Digital Bank has received a banking license from Bangko Sentral ng Pilipinas, the Philippines’ monetary authority, the bank announced in a statement on its blog on Thursday. This would allow Tonik to provide a full range of retail banking services, focused […]
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Retail Asia27/11/2019
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Finance

E-Money More Popular than Credit Cards in Southeast Asia

2min0
Five Southeast Asian Countries have attracted non-banks to build regional electronic wallet platforms, with total e-money transactions exceeding 10 billion. Indonesia, Malaysia, the Philippines, Singapore and Thailand saw over 10 billion e-money transactions occur in 2018. Singapore led the region, accounting for 34 percent of total e-money transactions, having attracted nonbanks to build regional electronic […]
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Retail Asia04/10/2019
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Finance

BigPay introduces international money transfers

3min0
 BigPay, an ASEAN-focused fintech company, has launched international remittance services enabling users to send money directly from Malaysia to bank accounts in Singapore, Thailand, Indonesia and the Philippines, with no hidden fees or extra charges. BigPay is pioneering digital remittance through its mobile application, offering a seamless experience with instant money transfers. Users can deposit […]
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Retail Asia26/08/2019
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Startups

PayPal-Backed Korean Fintech Raises $64 Million

1min0
South Korean fintech unicorn, Viva Republica, raised $64 million for its financial service platform Toss pushing the firm’s total value to $2.2 billion. The Seoul-based fintech has raised a total of $250 million, including $80 million in the December round, and new funding joins prominent existing investors such Singapore’s GIC and Sequoia Capital. Viva Republic […]
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