News
BEA lowers HK dollar savings rate, prime rate
BEA lowers HK dollar savings rate, prime rate
The new rates come into effect on 20 September 2024.
Australia’s AT1 phase out proposal unlikely to be replicated by other regulators
It will wipe out the concentration of AT1 instruments held by domestic retail investors.
BRI’s UMi has disbursed $40.53b in loans to MSMEs
Three years after launch, UMi now serves 176 million depositors.
Siam Commercial Bank provides Android devices to Thai merchants for contactless payments
SoftPOS will give SCB 500 Android devices.
Siam Commercial Bank unveils special fixed deposit account
It offers between 1.6% to 2.2% interest per annum.
Chinese banks’ earnings decline narrow, but retail NPLs could be an issue
Earnings of 16 large banks are 0.5% lower than in H1 2023.
Singaporean banks roll out face verification for digital token setup
It is expected to make it harder for scammers to take over a customer’s DT.
RBI deputy governor calls for enhanced financing access for Indian farmers
Shri Swaminathan Janakiraman suggested five solutions to address financing issues.
Visa, dtcpay launch card enabling digital currency conversion
The card will be available for public registration in Q4 2024.
SMBC joins Project Agora to explore tokenized cross-border payments
Project Agora involves BIS and seven central banks globally.
DBS unveils crypto options trading and structured notes for wealth clients
They may earn yield on fiat depending on the product’s structure and price movements.
MUFG Bank invests in the Japan Hydrogen Fund
The fund aims to accelerate the use of hydrogen and scale its supply chain.
Cash remittances from the US, Saudi Arabia, and the UAE grew.
Cash remittances from the US, Saudi Arabia, and the UAE grew.
Citi Trust to be acquired by JTC
Citi Trust handles $70b of assets owned by UHNW clients.
DBS Hong Kong launches all-in-one sales management platform
Business accounts can be opened as fast as 1 working day.
Hong Kong, Macau establish direct link for bond clearing and settlement
Investors in Macao and Hong Kong will benefit from the arrangement.
Mizuho Bank invests $3.5m in metal parts and 3D printer startup
The metal parts produced are used in various sectors, like aerospace.
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