Credit Suisse is preparing to lay off half of its mainland China investment banking team, according to Chinese business publication Caixin, after saying earlier this week it is looking to fully acquire its Chinese securities joint venture and expand its presence in the market.
HSBC said Thursday that a digital version of the Chinese yuan, which it suspects will launch soon, could improve China’s payment systems and put the nation at the forefront of digital currency development.
Admiral Insurance has begun selling travel insurance with specific provisions related to COVID-19, after a four-month hiatus in the business, as the United Kingdom eases quarantine requirements, making travel abroad less cumbersome.
Chinese new bank lending soared to a record CNY 12.09 trillion ($1.72 trillion) in the first half of 2020 as China sought to recover from pandemic-related shutdowns, according to data released Friday by the country’s central bank.
China’s central bank has sold some of its stake in India’s Housing Development Finance Corporation amid rising tensions between the world’s two most populous countries.
Hong Kong Exchanges and Clearing has launched the first clearing service using an alternative to the Hong Kong Interbank Offered Rate, or HIBOR, reflecting local regulatory efforts to nudge banks away from the old reference rate regime.
The global banking sector may see structural shifts that last beyond the COVID-19 pandemic, as declining revenues and asset quality push banks toward consolidation and digitization, according to S&P Global in a mid-year report released Thursday.
Credit Suisse said it’s eyeing full ownership of its Chinese securities joint venture just one month after claiming a majority stake in the entity, as the lender looks to expand its presence in China.
Global insurance premium volumes are set to recover to pre-coronavirus pandemic levels in 2021, despite a more “protracted recovery” in the global economy, Swiss Re Institute said Thursday.
The Bank of China’s Malaysian outpost has begun using a QR code payment option for customers around the world who use the bank’s app, reflecting the current high demand for digital services as well as the bank’s continued interest in the Southeast Asian country.
China’s largest banks are preparing for a possible worst-case scenario following the passage of legislation by the U.S. Senate earlier this week that would impose harsh penalties on financial institutions that implement Beijing’s new security law for Hong Kong.
DBS’ Hong Kong business tapped Peter Tung, a veteran of Morgan Stanley and UBS, to head its private banking unit for greater China as financial firms compete for growth in a cooling market.
Ant Financial Services Group, the world’s most valuable tech startup, plans to list an initial public offering in Hong Kong as soon as this year, Reuters reported on Wednesday, sending shares of the firm’s larger affiliate Alibaba soaring.
Deutsche Börse Group’s international central securities depository Clearstream and LCH Group’s U.K.-based equities clearing service are seeking to capitalize on the popularity of global depository receipts and exchange-traded products on the London Stock Exchange by allowing equities contracts cleared by LCH to be settled through the subsidiary Clearstream Banking S.A.
MS&AD Insurance Group revealed Tuesday that it is offering a new predictive analysis for companies seeking to improve climate change-related disclosures in financial reporting, making it the first Japanese financial services group to partner with U.S.-based startup Jupiter Intelligence, an investee of its corporate venture capital firm.
China’s money market funds attracted more than ¥1.3 trillion ($185 billion) in new capital, reflecting wider asset gains in the country’s mutual funds as the COVID-19 pandemic cools markets elsewhere, Fitch Ratings said Monday.
Hong Kong Exchanges & Clearing rolled out new futures offerings under a licensing agreement with MSCI on Monday, marking the latest move in the exchange’s effort to become Asia’s leading financing market.
French insurers’ heavy concentration in the life insurance business could leave the industry especially exposed to a sharp increase in claims due to the COVID-19 pandemic, research firm Global Data found.
Rabobank finalized a deal with the United Nations to fund the development of sustainable food systems in rural areas, in a bid to help combat the effects of climate change.
HSBC is further expanding its Chinese footprint by creating a new fintech company and hiring a group of personal wealth advisers, a bank spokesperson told Fastinform on Monday.