Frances Gagua
China allegedly asks banks to delay dollar buying to slow yuan depreciation: report
China allegedly asks banks to delay dollar buying to slow yuan depreciation: report
The yuan hit an eight-month low in July.
DBS earnings up 45% to S$5.26b in H1; Q2 dividend at 48 cents
This brings the first half dividend to 90 cents per share.
Fintech funding slows to 10-year low as investors tout quality over quantity
Asian fintechs clinched US$5.1b in investments in H1, lower than $45b in H1 2022.
Citi Global Wealth unveils ULTIMA credit card for private bank clients
Singapore’s UHNW clients’ spending outpaced pre-pandemic spending by 56%.
Singaporeans need to save for 27 years to achieve financial freedom: Singlife
1 in 4 Lion City residents have savings of less than $1,000 per month, below the average S$1,733.
Luxury travel retailer DFS taps Alipay+ to offer cross-border payments for Asian travellers
DFS and Alipay are also developing other membership offers and rewards.
Hong Leong Bank, JCB, Soft Space drive JCB card use in Malaysia
Sofitel Kuala Lumpur Damansara has begun accepting JCB card payments.
Mizuho Financial Group reports $1.71b in profits for Q1 FY2023
Net income per share of common stock is JPY96.75 for the quarter.
Singapore fintech investments record three-year low in H1
Consolidation drove fintech investments in the payments space, KPMG found.
HSBC’s records $12.9b pre-tax profit for H1
This is $12.9b higher compared to the first six months of 2022.
Hang Seng Bank’s profits up 79% in H1; HK$1.1 per share interim dividend declared
Operating profit rose 67% compared to a year earlier.
MAS unveils revised framework to strengthen anti-ML controls in single family offices
There will be harmonised class exemption for SFOs who meet specific requirements.
Bank of China Hong Kong to conduct system maintenance in 6 August
Services affected include ATM transactions and the BOCHK website.
UnionDigitalBank, Capital A launch embedded finance services in the Philippines
Amongst services to be offered is the “Fly Now, Pay Later” flexible payment option.
Bank of China Hong Kong warns of fraudulent website
The case has been reported to the HKMA and the local police force.
Singapore to eliminate use of all corporate cheques by 2025
Cheque transactions have declined by almost 70% between 2016 to 2022.
Hang Seng Bank raises HKD prime lending rate to 5.875% per annum
Its savings deposit rate is also being increased.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
