Markets
China’s Huarong likely to receive extraordinary government support: S&P
China’s Huarong likely to receive extraordinary government support: S&P
This also bodes well for its overseas bond issuer Huarong International.
India, Philippines banks in trouble amidst renewed infection surge
Emerging banks in Asia continue to be in a tough operating environment, says Fitch.
Bank of Korea to carry out mock test on functionality of digital currency: report
The test will reportedly start in August and run until June 2022.
Indonesia mulls digital rupiah: report
The central bank is looking at how it will help monetary policy goals.
Global banks on a hiring craze as they vie for rich Asians’ assets
HSBC, Goldman Sachs, and Citi are all eyeing a piece of the region's trillion-dollar financial market.
Qatar National Bank continues to be largest bank in MEA: S&P
It is also the 100th biggest bank globally.
China injects $15.5b cash into the financial system to maintain liquidity: report
The nation’s top leaders recently described economic recovery as “unbalanced and unstable.”
China’s digital currency fails to excite locals: report
Chinese people showed little interest in switching from mobile payment systems of Ant, Tencent.
Singapore's finance sector to create 6,500 jobs in 2021: regulator
Approximately 6,000 of these new jobs are permanent positions.
Alternative Benchmarks for the New Normal
Latest Trends in LIBOR Transitions in Japan
Singapore, Thailand launch real time cross-border payments system
Participating banks’ clients will be able to transfer up to S$1,000 or THB25,000 daily.
HSBC stokes discontent amongst senior staff with pivot to Asia: report
Senior bankers reportedly expect friction with the regional chief, sources said.
DBS to acquire 13% stake in Shenzhen Rural Commercial Bank for $810m
It will become SZRCB’s largest shareholder upon the deal’s completion.
Citi APAC to add 1,100 relationship managers, private bankers for wealth arm
The bank expects AUM to expand by $150b under its Win-in-Wealth campaign.
Citi appoints co-heads of Citi Global Wealth in APAC
The bank saw record net new money inflows of $20b in the region last year.
MUFG appoints new head of ESG finance for APAC
In the newly created role, Colin Chen is expected to build the bank’s finance strategy in the region.
Japanese bank’s risk controls under test following Archegos fallout
After Nomura and MUFG, other banks are likely to announce losses related to the US investment firm.
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