Buying a home is generally a person’s single largest investment, and it is therefore an incredibly emotional decision. That may be part of why potential buyers pulled back last week, worried about rising interest rates and about what was behind big daily drops in the U.S. stock market. Mortgage application volume fell 3.2 percent last...
The Big Four Chinese state-owned banks will soon have to issue billions of dollars of offshore bonds, out of an urgent need to meet an international financial standard, the Total Loss Absorbing Capacity TLAC. The People’s Bank of China PBOC recently said that the Big Four banks probably need to implement TLAC ahead of schedule,...
President Cruises’ maiden ship sets new benchmarks in Vietnam’s most famous natural attraction Halong Bay is bracing itself for its biggest and most luxurious cruising vessel yet replete with 46 spacious cabins, an evening piano bar, spa, fine dining restaurant and two expansive sun decks. New luxury Vietnamese cruise operator Lion Asia will debut the...
The first criminal charges announced by the US Department of Justice DOJ in the scandal surrounding a defunct Malaysian state fund is a cautionary tale for banks operating in Asia. The frequent allusions to Goldman Sachs in the latest DOJ documents on this fund – 1MDB – should be seen as a warning to banks...
Universal banking is past its sell-by date. That’s according to one of Australia’s biggest banks. In the digital age banks should hive off services others can do better, said Shayne Elliott, chief executive officer of Australia and New Zealand Banking Group Limited ANZ. The universal banking model, which brings together a wide variety of financial services...
Advancements in technology have brought about a change in the equipments and tools being used in most workplaces. If you take a tour of a hedge fund or an asset management company, you will witness new and sophisticated technology that you didn’t know about 10 years ago. In some companies, trade still take place in...
The number of high net-worth individuals in Southeast Asia has been increasing in recent years. These rising fortunes are mainly due to the increasing business and trade opportunities available. One business sector that got a boost from this phenomenon is the wealth management companies. Revenues are expected to double in the next five years as...
It is recording the highest growth rate in Asia, but Bangladesh’s boom is fuelling the same kind of banking bust that precipitated the Asian Financial Crisis say fund managers and local analysts. On the surface, Bangladesh is doing well. The International Monetary Fund IMF forecasts that it will hit a growth rate of 7% in...