ADB chief criticizes opaque loans tied to Africa’s natural resources

The head of the African Development Bank is calling for an end to loans given in exchange for the continent’s rich supplies of oil or critical minerals

Former chairman of state-owned Bank of Beijing investigated for alleged corruption

The former chairman of the state-owned Bank of Beijing is under investigation for corruption, the latest in a series of graft investigations focused on the country’s financial sector.

From AI and inflation to Musk and Swift

AI GOES MAINSTREAM Artificial intelligence thrust itself into public consciousness this year. But the technology, while dazzling for its ability to retrieve information or produce readable prose,

Beijing police investigate major shadow bank Zhongzhi after it says it’s insolvent

Police are investigating suspected crimes of a Chinese wealth company owned by Zhongzhi Enterprise Group, according to the Beijing Public Security Bureau, days after the firm

Singapore’s OCBC Bank restructures senior management for its Greater China operations

Wang Ke, currently CEO of OCBC Wing Hang China, will assume the role of Head of Greater China, succeeding Tan Wing Ming, the group noted in a

Interest rate hikes help double BNU’s profits in first half

Banco Nacional Ultramarino (BNU) in Macau yesterday announced profits of MOP288.4 million (32.7 million euros) in the first half of the year, a year-on-year increase of 125.2%.

Wing Hang becomes history, rebranded as OCBC Bank

The rebranding took place yesterday. From now on, OCBC Wing Hang Bank Macau will be officially referred to as OCBC Bank Macau, the corporation said in a

UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil

UBS said yesterday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal

Santander UK boss says ring if you need financial help

Ringing a bank when facing financial problems as prices soar will make things better, not worse, according to the boss of Santander. Mike Regnier, UK chief

Swiss lawmakers pick apart Credit Suisse woes ahead of deal

Switzerland's parliament is opening a special session yesterday to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS — and possibly considering strengthening

Credit Suisse deal halted crisis, Swiss central bank says

The Swiss central bank hiked its key interest rate yesterday and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil.

Silicon Valley Bank collapse concerns founders of color

In the hours after some of Silicon Valley Bank’s biggest customers started pulling out their money, a WhatsApp group of startup founders who are immigrants of color

Credit Suisse shares soar after central bank aid announced

Credit Suisse’s shares soared 30% yesterday after it announced it will move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central

Bank stocks drop in Europe as US bank failure stirs jitters

Bank stocks sagged in Europe and U.S. stock futures fell yesterday ahead of the market’s open in New York, shaken by worries the biggest U.S.

AMCM working on HKD instant digital transfer across local banks

Instant bank wiring of Hong Kong Dollars will be possible with the next phase of the Easy Transfer function, Chan Sau San, president of the Monetary

BNU says drop due to reduction of interest rates on loans, less credit card transactions

Following the results published on Wednesday which showed a 41.7% drop in the profits of the Banco Nacional Ultramarino (BNU) in 2020, the BNU has justified the decline as being

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