

Taiwan’s FSC maintains 45% cap on insurers’ overseas investments
The Financial Supervisory Commission (FSC) of Taiwan has decided to maintain the overseas investment cap for local insurers at 45% of...
Jul 5, 2024


Singapore cracks down on misuse of nominee directorships
Singapore has passed legislative changes to improve transparency around nominee directors and shareholders, mandating companies to...
Jul 5, 2024


80% of HK families manage overseas funds, survey shows
A survey by Hang Seng Bank reveals that 80% of Hong Kong families manage funds overseas. The study, which interviewed nearly 400...
Jul 5, 2024


Japan introduces innovative 3D banknotes to combat counterfeiting
Japan launched its first new banknotes in 20 years on Wednesday, featuring innovative three-dimensional portraits to combat...
Jul 4, 2024


World Bank cuts Thailand’s economic outlook to 2.4%
Thailand’s economic growth forecast for this year has been revised down to 2.4% from 2.8%, impacted by sluggish exports and public...
Jul 4, 2024


South Korea imposes record fines on UBS affiliates for illegal short selling
The Financial Services Commission of Korea has levied record fines totaling KRW27.17bn (USD19.5) against two UBS AG affiliates—formerly...
Jul 4, 2024


Singapore revokes tax benefits for family offices in USD3bn scandal
Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, who also chairs the Monetary Authority of Singapore...
Jul 4, 2024


Investors sue Mitsubishi UFJ over worthless Credit Suisse bonds
Investors in Japan have filed a new lawsuit against Mitsubishi UFJ Financial Group’s brokerage unit over losses from Credit Suisse’s...
Jul 3, 2024


Taiwan’s major tax evasion cases decline in numbers, value
Major tax evasion incidents in Taiwan decreased to 915 last year, with unpaid taxes falling to NTD89.51bn (USD2.75bn), according to the...
Jul 3, 2024


Hong Kong to host wealth legacy summit for family offices in September
The Hong Kong Academy for Wealth Legacy is set to host a three-day summit from September 12 to 14, aiming to bolster Hong Kong’s role as...
Jul 3, 2024


Vietnam tightens credit rules, impacting banks and big businesses
A new regulation under the amended Law on Credit Institutions, effective July 1, reduces bank credit limits for major clients,...
Jul 3, 2024


EY’s major investment to shape future of accounting in SG
EY Singapore announced a SGD100m (USD74m) investment over five years to enhance its talent development initiatives and increase the...
Jul 2, 2024


Hong Kong and PBOC to enhance cross-border remittances
Hong Kong’s monetary authority is set to collaborate with the People’s Bank of China (PBOC) to enhance cross-border remittance services,...
Jul 2, 2024


Central banks in Asia launch cross-border instant payment platform
The central banks of India, Malaysia, Thailand, Singapore, and the Philippines are collaborating under the Bank of International...
Jul 2, 2024


HSBC targets top spot in Asian wealth management
Annabel Spring, head of HSBC Holdings’ private banking, is spearheading a new recruitment initiative aimed at reclaiming the title of...
Jul 2, 2024


World Bank names new director to boost economic programmes in SE Asia
The World Bank announced Zafer Mustafaoglu as the new Country Director for the Philippines, Malaysia, and Brunei Darussalam, starting...
Jul 1, 2024


China’s financial giants enforce new pay cap for senior staff
China’s major financial conglomerates, including China Merchants Group, China Everbright Group, and Citic Group, have directed senior...
Jul 1, 2024


Hong Kong banks see 5% profit rise
Hong Kong’s retail banks recorded a 5% increase in pre-tax operating profit in the first quarter year-on-year, driven by higher...
Jul 1, 2024


Barclays appoints new DPM head for Singapore operations
Barclays Private Bank has appointed Ong Shun Wei as the new head of Discretionary Portfolio Management (DPM) in Singapore, according to...
Jul 1, 2024


54% of Philippine CEOs doubt business viability without change
Over half of CEOs in the Philippines worry their businesses won’t be viable in the next decade without significant changes, reports PwC...
Jun 28, 2024







