GXBank IFC MSME financing could support up to USD110m in lending to Malaysian businesses under a risk-sharing partnership designed to expand credit to underserved companies. The International Finance Corporation, the World Bank Group’s private-sector investment arm, will provide up to USD4.95m in unfunded first-loss coverage, according to GXBank. The facility will allow the Malaysian digital bank to increase lending to micro, small and medium-sized enterprises, including comp

The UBS Shenzhen wealth unit covering fund distribution and the WE.UBS digital platform will close later this month as the Swiss bank adjusts its strategy for wealthy Chinese clients, Reuters reported. UBS confirmed the closure but said WE.UBS is expected to be renamed and integrated into its Chinese securities business. The bank’s other wealth management platforms in China will continue operating. Launched in October 2022, WE.UBS struggled to attract sufficient investors in

Hong Kong banks generative AI investment is accelerating as financial institutions make the technology and process automation their leading technology priority through 2030. A Hong Kong Association of Banks and Deloitte survey found that 53% of respondents ranked generative AI and process automation as their top technology investment priority, indicating a move towards broader adoption. The report found 52% of banks were optimistic about the industry’s development through 203

SGX crypto perpetual futures could soon become available to US institutional investors as Singapore Exchange expands its push into regulated cryptocurrency derivatives. SGX has filed with the US Commodity Futures Trading Commission to offer its Bitcoin and Ether perpetual futures to American institutions, Bloomberg reported. The contracts could become available if the regulator raises no objection within 10 days. SGX launched the products in November and has since recorded ar

Hong Kong insurers partnerships with technology, healthcare and professional-services companies are expanding as providers respond to changing client requirements and tighter mainland Chinese taxation of offshore investments. Prudential has partnered with Alibaba Cloud to develop an artificial intelligence underwriting tool that can help financial consultants make preliminary decisions using clients’ financial and medical information. Manulife has also signed agreements with

A Xi Washington CEO delegation is being prepared for the Chinese president’s Sept. 24 summit as Beijing seeks to signal support for commercial and investment ties with the United States, Reuters reported. Xi Jinping rarely travels overseas with large groups of corporate executives, and Reuters said it had not determined which business leaders would participate. His last sizeable corporate delegation to the US was in 2015 and included Alibaba founder Jack Ma and Tencent founde

Wang Jianjun life sentence proceedings have ended with the former China Securities Regulatory Commission vice chairman receiving life imprisonment for accepting more than RMB93m (USD13m) in bribes. State broadcaster CCTV reported that the court found Wang had used his positions between 2005 and 2019 to secure benefits for companies and individuals. The benefits involved company listings, corporate financing and business contracts, with Wang accepting money and property in ret

Singapore accounting firms Asia expansion could become easier under a regional professional-services network being developed by the Institute of Singapore Chartered Accountants. ISCA’s Professional Services Centre network allows smaller Singapore firms to work with local providers for regulated services, market expertise and business connections without incurring the full cost of establishing overseas offices. A newly launched Jakarta centre joins existing locations in Singap

Philippine CEO confidence remains strong despite growing concerns over regulatory uncertainty, geopolitical tensions, climate change and technological disruption. A PwC Philippines and Management Association of the Philippines survey of 176 CEOs and business leaders found that 83% were confident about their industry prospects over the next 12 months, while 81% expected company revenues to grow. Domestic consumption was the most frequently cited growth driver, followed by infr

Singapore climate financial risks must be reflected in company accounts where they are material, despite extended timelines for some sustainability disclosures, according to guidance from the Accounting and Corporate Regulatory Authority. Directors remain responsible under the Companies Act for ensuring financial statements provide a true and fair view of a company’s financial position and performance. Climate-related factors could affect asset valuations, useful lives, depre

Hong Kong billionaire hub status remains firmly established after the city retained its position as the world’s second-largest billionaire centre in 2025, according to Altrata’s Billionaire Census 2026. Hong Kong had 106 billionaires, two fewer than a year earlier, but their combined wealth continued rising to USD319bn. Property-sector weakness and relatively limited exposure to artificial intelligence-related gains weighed on the city’s billionaire population. New York remai

Hong Kong family office succession services are attracting Asian business-owning families seeking a base for governance, investment management and generational wealth transfer. Advisers say founder-led businesses increasingly want to separate operating capital from family wealth, while internationally dispersed families are looking for an Asian hub capable of supporting assets and heirs across multiple jurisdictions. Hong Kong had 3,380 single-family offices at the end of 202

Singapore Indonesia local currency settlement is now operational, allowing trade, direct investment and cross-border payments between the two markets to be conducted directly in Singapore dollars and Indonesian rupiah. The framework, launched by the Monetary Authority of Singapore and Bank Indonesia, is designed to reduce foreign-exchange risks and transaction costs while encouraging broader use of regional currencies. Appointed cross-currency dealers will facilitate settleme

FSB AI financial risks are increasing as advanced artificial intelligence changes the speed, scale and cost of cyberattacks, Financial Stability Board Chair Andrew Bailey has warned. In a letter to G20 finance ministers and central bank governors, Bailey said many jurisdictions lacked sufficiently developed systems to manage the deployment of advanced AI. He identified AI-driven cyber threats as the most immediate concern, warning that financial institutions’ dependence on a

The Lawrence Ho family office is expanding into space technology through a USD1bn de-SPAC transaction involving Singapore-based satellite communications company Astrum Space. Black Spade Capital, the family office of Macau billionaire Lawrence Ho, will merge Astrum with Black Spade Acquisition III in its third de-SPAC transaction. The combined company intends to seek a listing on the New York Stock Exchange. Founded in 2023, Astrum is developing a satellite-to-device communic

The first Hong Kong Five-Year Plan will be released alongside Chief Executive John Lee's annual Policy Address on Sept. 16, potentially providing greater clarity on how long-term development priorities connect with immediate government measures. Legislator Bill Tang urged officials to establish measurable performance indicators for innovation and technology, including research and development expenditure as a percentage of gross domestic product and funding for gerontechnolog

Bitcoin Asia 2026 will bring investors, financial institutions and digital asset companies to Hong Kong on Aug. 27-28 as organisers seek to strengthen links between Bitcoin markets in Asia and the West. The two-day conference will be held at the Hong Kong Convention and Exhibition Centre in Wan Chai and forms part of The Bitcoin Conference series, which organisers describe as the world's largest gathering focused on the cryptocurrency. The programme will feature industry spea

The Hong Kong fintech summit formed by the merger of Hong Kong FinTech Week and StartmeupHK is expected to attract more than 45,000 participants from 120 economies when it takes place on Nov. 2-3, 2026. The combined event at the Hong Kong Convention and Exhibition Centre will bring together finance, technology, startup and investment communities under the theme “Fintech Nexus: Bridging the World, Building the Future”. Organisers expect around 1,000 speakers, 800 sponsors, exh

Hong Kong remained first in the 2026 Asian Cities Internationality Index, reinforcing the city's position as one of the region's most internationally connected business centres. Hong Kong scored 74.6 points, ranking ahead of Singapore at 72.6. Seoul climbed to third with 69.2, followed by Tokyo at 68.6 and Shanghai at 65.3. The index, commissioned by the Hong Kong General Chamber of Commerce and conducted by Ipsos, assessed 11 cities across multiple measures of international

The Asia wealthy insurance market could generate USD100bn to USD140bn in annual new-business premiums by 2030 as family offices and private banks expand insurance-based wealth planning, according to McKinsey & Company. Only around 15% to 20% of Asia’s wealthy individuals currently incorporate life insurance into their financial plans, leaving a substantial portion of the market underserved. Asia-Pacific personal financial assets are forecast to reach USD120tr by 2030, while a