The Philippines has moved closer to reforming its bank secrecy regime after lawmakers approved on second reading amendments to the Philippines bank secrecy law granting the Bangko Sentral ng Pilipinas broader investigative powers. House Bill No.6707 would allow the central bank to examine bank deposits of officers and employees suspected of fraud, tax evasion, money laundering or other financial crimes once the Monetary Board determines reasonable grounds. The bill also exten

Deglobalisation 2026 is expected to accelerate, with nearly 60% of global chief executives and investors anticipating the trend will gather pace as protectionism and national security priorities reshape supply chains, according to Teneo’s Vision 2026 survey. Respondents in Asia-Pacific and the Middle East said the shift appears slower than in Latin America, where executives cited near-shoring and energy-transition investment as making the change feel sharper. The United State

Hong Kong is likely to see more restructurings and liquidations in 2026 across sectors including real estate, restaurants and retail as a weak economy and shifting consumer habits continue to squeeze firms, veteran liquidator Derek Lai said. Known as the “King of Liquidation”, Lai recently left Deloitte after 36 years to join EY as senior partner and Asia-Pacific turnaround and restructuring leader, with plans to expand EY’s team to 130 from 80 next year. Companies Registry d

The Philippines growth outlook has been revised lower by the International Monetary Fund, which now expects the economy to expand 5.1% in 2025 and 5.6% in 2026, both below the government’s 6%–7% target range. The IMF said the weaker Philippines growth outlook reflects higher US tariffs weighing on exports and investment, alongside global trade-policy uncertainty, corruption allegations linked to flood-control projects and more frequent climate shocks. While disinflation has b

Hong Kong market reforms are needed to keep the city a leading capital-raising hub as markets digitise and competition among financial centres intensifies, the Financial Services Development Council said. In a concept paper, the FSDC urged Hong Kong market reforms to deepen liquidity beyond equities, spanning fixed income, private-market assets and offshore yuan products, alongside infrastructure upgrades to speed settlement and support multi-asset, multi-currency issuance. T

Japan business sentiment climbed to a four-year high in the three months to December, according to the Bank of Japan’s tankan survey, keeping expectations alive that the central bank could raise interest rates at its Dec.18–19 meeting. The headline index for large manufacturers edged up to +15 from +14 in September, while big non-manufacturers held steady at +34. Firms said Japan business sentiment could weaken in the March quarter as concerns persist over US tariffs and slug

Hong Kong has launched a public consultation on adopting the OECD’s Crypto-Asset Reporting Framework and updating the Common Reporting Standard, setting the stage for Hong Kong crypto tax data sharing with partner jurisdictions from 2028. The government plans to pass amendments to the Inland Revenue Ordinance next year and roll out the revised CRS from 2029, aligning the city with global standards on tax transparency and digital assets. Under the proposal, reporting financial

Hong Kong’s initial public offering (IPO) market is forecast to raise up to HKD350bn (USD45bn) next year as momentum from mainland Chinese issuers and technology listings lifts the city back toward the top tier of global exchanges, KPMG said. The firm expects 180 to 200 listings in 2026, implying as much as a doubling in deal numbers and a 28.7% jump in proceeds from this year, when about 100 newcomers raised HKD272bn. Much of the activity has come from A+H listings, which br

The Asian Development Bank has raised its South Korea growth forecast for 2025 to 0.9% from 0.8%, citing stronger domestic consumption following government stimulus and easing export uncertainty after a tariff agreement with the United States, the finance ministry said. The lender also lifted its 2026 growth outlook by 0.1 percentage point to 1.7%, broadly in line with projections from the OECD and the Bank of Korea. Officials said the upgrade reflected resilient semiconducto

Vietnam is preparing to open its first international financial centre in Ho Chi Minh City on December 12, with authorities saying the city has the infrastructure, talent pipeline and investor interest required to begin operations. The Vietnam international financial centre will initially house its executive and supervisory bodies at the city’s Startup & Innovation Hub before relocating to a renovated office on Nguyen Hue Street and later to a permanent base in the Thu Thiem u

Hong Kong business confidence has risen sharply, with about half of companies operating in the city optimistic about economic prospects next year, up from just 18% a year earlier, according to preliminary findings from the Hong Kong General Chamber of Commerce. Chamber chair Agnes Chan said a record number of local and international firms set up operations in Hong Kong this year, helping support momentum and drive 3.8% GDP growth in the third quarter. Hong Kong also topped th

Southeast Asia has emerged as a beneficiary of the US–China trade rift, with exports to the United States growing faster than China’s, according to analysis by the Lowy Institute. Shipments from the 11-member ASEAN bloc to the US rose 23% in September from a year earlier, led by Thailand and Vietnam, while China’s share of the American market declined. The divergence reflects steep US tariffs on Chinese goods, averaging 31%, compared with roughly 11% for many Southeast Asian

The Asian Development Bank has lowered its growth outlook for the Philippines but still expects the country to be Southeast Asia’s second-fastest major economy. The ADB now projects GDP growth of 5% this year and 5.3% in 2026, both below government targets, after a weaker-than-expected 4% expansion in the third quarter and a 10.7% drop in January–September public works spending. The bank cited weak and corruption-hit infrastructure outlays and natural hazards as key drags. Ho

Hong Kong’s ageing population is straining public healthcare while opening new business opportunities for insurers and banks, officials and executives said at the Asian Insurance Forum on Monday. Insurance Authority chairman Stephen Yiu said the Hong Kong ageing population is driving demand for health insurance, annuities and retirement solutions as demographic pressures intensify. The government projects about 2.4m elderly residents by mid-2036, representing roughly one-thir

Japan’s economy shrank faster than first reported in the July–September quarter, revised Cabinet Office data showed, highlighting the impact of weaker business spending despite a modest rise in consumption. Under the Japan Q3 GDP revision, real gross domestic product fell at an annualised 2.3%, compared with an initial estimate of 1.8% and a median forecast of 2.0%, marking the largest contraction since the third quarter of 2023. GDP declined 0.6% quarter on quarter, versus 0

South Korea’s finance ministry is stepping up oversight as Korea won weakness persists near levels last seen during the 2009 financial crisis, setting up a task force with exporters, securities firms and regulators, officials said. Operating under the international finance bureau, the group will monitor exporters’ currency-conversion behaviour and consider incentives for companies that convert foreign-currency earnings back into won. The won has remained below 1,450 per dolla

The Philippine Securities and Exchange Commission is accelerating capital market reforms to ease long-standing liquidity constraints and close gaps with ASEAN peers in market depth and product diversity, SEC chairman Francisco Ed. Lim said at a business forum. The regulator has tightened service standards, shortened decision timelines and introduced a deemed-approved mechanism for filings that go unanswered beyond prescribed periods, alongside a standard 45-day review window

Asia remains under-invested despite strong fundamentals and attractive valuations, according to DBS’ chief investment office. Senior strategist Daryl Ho said lingering caution after years of weak performance has kept investors on the sidelines even as opportunities strengthen across dividend and growth assets. Dividend yields in Singapore and China hover around 5%–6%, while technology earnings in Asia excluding Japan are forecast to grow in the mid-20% range in FY2026. Ho not

Foreign investors remain confident about expanding in Thailand despite political uncertainty surrounding Prime Minister Anutin Charnvirakul’s government and the possibility of an early-2026 parliamentary dissolution ahead of elections, the Board of Investment said. The BoI said Thailand’s legal framework and investment-promotion policies would remain in place, with investment demand focused on electric vehicles, advanced electronics, data centres, printed circuit boards and a

Nearly 80% of Chinese mainland companies are using Hong Kong as a base for overseas expansion, Deloitte China said, highlighting the city’s role as a gateway for outbound growth. The findings were released alongside a new “going global” handbook and the launch of a dedicated task force in Hong Kong to support mainland firms expanding overseas. Deloitte noted that mainland firms use Hong Kong not only for financing needs but also for international management, governance and pa