BharatPe raises Rs 200 crore in debt from IIFL Wealth, Northern Arc

Tencent Warns of More China Tech Curbs as Growth Sputters

China's social security fund posts highest return in 11 years

NH NongHyup to work with Samsung Electronics for digital transformation

NH NongHyup Bank CEO Kwon Joon-hak, right, and Samsung Electronic Vice President Kang Bong-ku pose for a photo after signing a partnership for digital transformation at the NH Digital Innovation Campus in Seoul on Wednesday. (NH NongHyup Bank)South Korea’s NH…

Doosan Infracore settles dispute over Chinese arm, poised for new shareholder

A promotional image of Doosan Infracore’s flagship excavator DX800LC (Doosan Infracore)South Korean machinery manufacturer Doosan Infracore has cleared a major obstacle for its impending takeover by Hyundai Heavy Industries Group, after settling a yearslong dispute surrounding its Chinese arm with…

Equity raising critical for PNB Housing amid rising delinquencies: India Ratings

The equity infusion as planned is critical for PNB Housing Finance to provide adequate buffers for growth and mitigate any possible asset-side stress, India Ratings said on Thursday. PNB Housing Finance reported a rise in delinquencies with gross non-performing loan…

Residents’ FX deposits fall in July

(Yonhap)Foreign currency deposits at banks in South Korea fell in July from the previous month as individuals withdrew their FX holdings, central bank data showed Thursday. Outstanding foreign currency-denominated deposits held by residents amounted to $92.13 billion as of end-July,…

Banks’ loan delinquency rate falls in June

(Yonhap)The delinquency rate for South Korean banks’ won-denominated loans fell to a record low in June due to a decline in overdue corporate loans, the financial regulator said Thursday. The rate for bank loans more than 30 days overdue stood…

China Pledges To Rein In Incomes Of The Wealthy And Build Common Prosperity

Common prosperity / China pledges to rein in incomes of the wealthy and build common prosperity China’s top leaders vowed to strengthen regulation of the country’s wealthy people, including “reasonably adjusting excessive” income and encouraging high-earning groups and enterprises to…

China Huarong announces state bailout alongside $16bn loss

SHANGHAI — China Huarong Asset Management is set to receive a capital injection from a group of companies led by Citic Group, the state-owned bad-debt buyer said Wednesday, as it announced an estimated 102.9 billion yuan ($15.9 billion) net loss…

Affordable housing to be fulcrum of recovery for housing finance companies: Report

Recovery in economic activities and pent-up demand are likely to help in improvement of asset quality of home loans in the long term and affordable housing segment will lead the recovery in housing finance companies, according to a report. Domestic…

Evergrande sells stake in regional lender to shore up finances

HONG KONG — China Evergrande Group, the world’s most indebted property developer, raised 1 billion yuan ($154 million) by selling a part of its stake in regional lender Shengjing Bank to units of a city government which is expected to…

Amazon enters Indian wealth management with bet on Smallcase

Bengaluru: Amazon.com Inc. has made its maiden investment in India’s wealth management sector, participating in a $40 million round by fintech startup Smallcase Technologies Pvt. Ltd. The Bengaluru-headquartered startup said the funding round was led by Faering Capital Pvt. and…

BlackRock Real Assets to acquire Korean solar power operator

A visual concept image of solar power panels (123rf)BlackRock Real Assets said Wednesday it has signed an agreement to acquire an undisclosed amount of equity stake in South Korean solar aggregator and operator Brite Energy Partners. The US-based investment firm…

NPS sells entire General Electric stake in Q2

The logo of US conglomerate General Electric is pictured at the site of the company’s energy branch in Belfort, France. (Reuters-Yonhap)The National Pension Service, South Korea’s public pension scheme, divested its entire 11.5 million shares in General Electric as of…

Danggeun Market wins unicorn status with $162m funding

Courtesy of Danggeun MarketDanggeun Market, operator of hyperlocal e-commerce app Karrot, said Wednesday it has fetched a $162 million funding in a series D round with an enterprise valuation of $2.7 billion. The latest round of funding, led by Hong…

China Coordinates With U.S. And Russia On Afghan Power Transfer

Wang Yi, foreign minister of China. Photo: gov.cn Afghanistan / China coordinates with U.S. and Russia on Afghan power transfer China has been coordinating with Russia and the United States on their Afghan policies to ensure an “orderly transfer of…

CBA launches StepPay

First major Australian bank to have its own 'buy now pay later' service.

China Huarong shareholders back consumer unit exit and new president

HONG KONG — Embattled state-owned debt buyer China Huarong Asset Management received shareholder approval on Tuesday to exit a unit, restructure another and appoint a new executive director as it confronts its own default deadline. The moves are intended to…

FSS to launch probe into e-payment providers amid Mergepoint scandal

Financial Supervisory Service Gov. Jeong Eun-bo (Yonhap)South Korea’s financial watchdog will launch an investigation into electronic payment service providers and their operations amid growing concerns over a lack of customer protection in a row involving local discount app operator Mergeplus.…

Dunamu to unveil travel rule solution next month

The logo of Lamda 256, an affiliate of Dunamu. (Lamda 256)Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit, on Tuesday said it planned to unveil its own “travel rule” solution in September through its blockchain technology research arm Lamda…

Citibank Korea to confirm retail biz exit plan next week

(Yonhap)Citibank Korea is likely to make its long-awaited announcement for its retail business exit plan on Aug. 26, after confirming the strategy at a scheduled board meeting, an industry source said Tuesday. The South Korean subsidiary of the US-based global…

NH NongHyup launches virtual Dokdo branch

(NH NongHyup Bank)South Korea’s NH NongHyup Bank said Tuesday it launched a virtual Dokdo branch, which customers can visit on its mobile app and subscribe to financial products tied to the nation’s easternmost islets. The virtual space, designed to celebrate…

CBA avoids court-ordered notifications in its banking app

Over concerns around how its 6.3m users might react.

Citibank Korea to decide on exit plan next week

(Reuters)Citibank Korea Inc., the South Korean unit of Citigroup Inc., will decide on its exit plan for its retail banking unit next week, an industry source said Tuesday. Citibank Korea will hold a board meeting Aug. 26 during which the…

NAB takes open banking concepts global

Ties up with three other banks, AWS in hunt for new ideas.

Bendigo and Adelaide Bank to continue technology spending

As modernisation and simplification efforts start to pay off.

Blame game intensifies over Mergepoint fiasco

People line up in front of the headquarters of Mergeplus to demand a refund from the company in Seoul on Aug. 13, 2021. (Yonhap)The blame game between financial authorities and Mergeplus, operator of discount app intensified on Monday, leaving customers…

CBA to send 100 roles including from its technology operations offshore

Says it intends to re-skill and retain impacted Australian staff.

CBA’s X15 Ventures invests $150k in Splashup

Startup named the winner of Xccelerate21.

PBOC Suspends Mandatory Ratings For Interbank Market Bond Issuers

The second five-year guideline on rules-based governance calls for strengthening enforcement of antitrust and unfair competition rules Antitrust / New regulation plan pledges ‘consistency,’ respect for rule of law amid roiling markets China’s top policymakers sought to reassure jittery investors…

RBI to introduce ‘Regulatory GAAR’ for round tripping

Some of the largest Indian companies, startups and multinationals with an India presence have put their outbound investment, fundraising and restructuring plans on hold as the Reserve Bank of India (RBI) looks to introduce fresh regulations around “round tripping.” The…

Regulatory changes see top companies warming up to GIFT City

GIFT City, India’s obstacle-free gateway to the world of exotic and complex global finance, has gained sufficient traction in the past two years to achieve what was considered improbable a decade ago, with tweaks to existing rules helping the facility…

Reg Watch 5: A Timeline of China’s Latest Regulatory Storm

Chinese regulators have beefed up anti-monopoly measures in a five-year plan unveiled Wednesday. Photo: IC Photo In a five-year plan unveiled Wednesday, Chinese regulators beefed up anti-monopoly measures. The following is a timeline compiled by Caixin Insight about how regulations…

Regulatory Headwinds Take Luster Off Beauty Industry Stocks

A worker displays new beauty treatments at the China International Beauty Expo in Guangzhou, South China’s Guangdong province,on March 10. Photo: VCG Twin regulatory headwinds for China’s booming “medical beauty” industry — one focused on financial and another on medical…

Schwab: Young People Hold the Key to Creating a Better Future

It’s only by interactive dialogue, understanding each another and having respect for one another that we can create the necessary climate for a peaceful and sustainable world. Photo: VCG Young people today are coming of age in a world beset…

Very strong credit growth likely over next 3-4 years: Susmit Patodia

Inflation, working capital cycle and corporate capex kicking up all put together should lead to very strong credit growth in the system over the next three, four years, says Susmit Patodia, Director, Portfolio Manager, Motilal Oswal AMC. The nice little…

India will grow with coordination between Centre, private sector: Sanjiv Bajaj, Bajaj Finserv

It is a question of how we as the private sector keep working with the government, keep pushing them to do more and they do the same with us. That is how this country will grow, said Sanjiv Bajaj, Chairman…

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