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Retail Asia17/06/2019

Vietnam’s Ministry of Information and Communication has held an international workshop on the ability of mobile money to promote financial inclusion, as part of preparations for potential mobile money trails. The two-day workshop was designed to provide a comprehensive overview of mobile money, and put forward recommendations for Vietnam’s adoption of the technology. At the […]

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Retail Asia28/05/2019

The data found that the number of Chinese visitors in Singapore over the Labour Day holiday period almost doubled from last year. In addition, the average Chinese traveler spent SGD 325 (RMB 1,611) in Singapore during the Labour Day holiday – higher than in any of the other SEA countries, and a 13% increase from the same period […]

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Retail Asia08/04/2019

The Hong Kong Monetary Authority has granted the first virtual banking licenses to three institutions. According to their business plans, these banks will launch their services within six to nine months. The three banks that received a license are Livi VB, SC Digital Solutions and ZhongAn Virtual Finance to operate in the form of a virtual […]

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Retail Asia07/03/2019

The Asian Development Bank will lend Vietnam $188 million to upgrade roads towards improving connectivity in northwestern provinces. Under an agreement signed by ADB and the Ministry of Finance Tuesday, the loan will be used to upgrade of 198 kilometers of roads that connect several towns and districts in northwestern provinces of Lai Chau, Lao […]

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Retail Asia07/03/2019

The Australian dollar has fallen against its US counterpart Tuesday, buying 70.91 US cents from Monday’s 71.11 US cents. The local currency is at 79.39 Japanese yen, from 79.23 ; 62.40 euro cents, from 62.36 ; 53.57 British pence, from 53.48 and 104.16 NZ cents, from 104.04. Last Friday, the local currency has been given […]

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Retail Asia21/02/2019

Malaysia’s economy is likely to grow at a slow rate in April to June 2019 in view of the decline in the Leading Index (LI) in December 2018, according to the Statistics Department. Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the monthly change of LI decreased 1.4% to 117.3 points in December 2018 […]

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Retail Asia31/01/2019

FDI pledges for new projects, increased capital and stake acquisitions in Vietnam rose 51.9 percent year-on-year to $1.9 billion in January. In a statement Monday, the Ministry of Planning and Investment said the manufacturing sector attracted the most interest from foreign investors, accounting for $1.19 billion or 62.4 percent of the total FDI. Science and technology ranked […]

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Retail Asia24/01/2019

RAM Ratings, which expects inflation to inch up to 0.3% in December 2018 from 0.2% in the previous month, has revised its full-year headline inflation forecast for 2019 to 2.0% from 2.7%. The rating agency said in a statement that inflation in December 2018 is estimated to rise to 0.3% from 0.2% in the preceding […]

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Retail Asia21/01/2019

Japan is expected to receive more Vietnamese workers this year, having become the most attractive labor export market in 2018. Last year marked the first time Japan became the most popular destination for Vietnamese migrant workers with over 68,700 people finding jobs there, beating Taiwan with nearly 60,400 people and South Korea with over 6,500, […]

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Retail Asia11/01/2019

Indonesian peer-to-peer lending platform KoinWorks said in a statement on Monday that it has received an investment from US-based venture capital firm Quona Capital. “We’re very happy we could collaborate with Quona as one of our investors,” said Benedicto Haryono, chief executive and co-founder of KoinWorks. “With the inclusion of Quona among our line of investors, it […]

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Retail Asia14/11/2018

Maybank Asset Management Group (MAMG) expects its assets under management (AUM) to increase between US$30 million (RM126 million) to US$50 million (RM209 million) in the next two years, following its collaboration with Schroder Investment Management (Singapore) Ltd to co-develop investment solutions for sophisticated investors. As of end September 2018, MAMG’s AUM stood at RM33.7 billion. […]

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Retail Asia26/10/2018

Personal loan helps everyone in an unexpected financial crisis. Whether it’s an unforeseen expense during a wedding or renovating your home, emergency medical needs, restructuring your debts, starting a small business, etc., a personal loan can help you with immediate resources. Here is a list of five things to check before you avail of a […]

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Retail Asia23/10/2018

Early this month, EVN Finance, a subsidiary of national power utility, Vietnam Electricity, launched a consumer lending program called Easy Credit in Ho Chi Minh City. Customers with a monthly minimum income of VND4.5 million ($194) in five southern localities – Ho Chi Minh City, Dong Nai, Binh Duong, Long An and Vung Tau – […]

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Retail Asia15/10/2018

It is easy these days to find a site for online lending and borrow quickly with simple procedures. Companies have entered the peer to peer (P2P) online lending realm that directly connects borrowers, whether individuals or companies, with lenders, and get up to 2,000 customers a day, Can Van Luc, chief economist of the state-owned […]

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Retail Asia16/04/2018

The GSM Association (GSMA) has launched a new global certification scheme for mobile money services. The certification will involve an independent assessment of a mobile money provider’s ability to provide secure and reliable services, protect customer privacy and combat money laundering and terrorism financing. The new scheme has been developed based on three years’ feedback […]

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Retail Asia04/04/2018

The cross-border B2B money transfer market is ripe for disruption, as new technologies and legislative changes redefine traditional banking practices across the globe, according to Juniper Research. Cross-border B2B transactions will exceed $218 trillion by 2022, up from $150 trillion in 2018, the company predicts. Disrupting traditional cross-border B2B transactions B2B Money Transfer: Cross-border Market Opportunities […]

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Retail Asia31/07/2017

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Despite being allowed to charge on-net fees for automatic telling machine (ATM) transactions, some commercial banks have recently applied the exemption to on-net money withdrawal and account transfer to attract new customers and develop the retail banking segment. Platinum debit cards, while Viet Capital Bank and SCB have exempt money withdrawal fee for international and […]

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Retail Asia12/07/2017

The government is to hunt down tax money from Indonesians who park their money in Singapore, following an offer from Singapore to allow Indonesia to access the financial data of Indonesians in the neighboring country. Singapore and Indonesia are soon to sign a Bilateral Competent Authority Agreement (BCAA) to implement the Automatic Exchange of Information (AEoI) between the […]

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Retail Asia30/05/2017

The money market has been seeing unexpected happenings in the last two weeks. Until two weeks ago, the liquidity of the banking system had been in a state of tension because lending was higher than mobilized capital. According to the National Finance Supervision Council, while lending increased by 5.2 percent, mobilized capital increased by 3.7 percent […]

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Retail Asia04/04/2017

Singapore-based money transfer provider InstaReM is introducing free money transfers exclusively for users in Hong Kong. InstaReM, a Money Services Operator licensee in Hong Kong, is running this campaign until end of April 2017. By offering interbank rates directly from the exchange rates provided by Reuters.com, InstaReM will charge zero margins. InstaReM also doesn’t charge […]

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