DIGITAL platform Qifa has expanded into facilitating two-way trade between Russia and China as it seeks to solve payment issues currently stunting the flow of goods and services.
MORGAN Stanley’s traders joined the party across Wall Street in the second quarter even as the firm’s larger wealth business fell short of expectations.
CHINESE cross-border trade payment platform XTransfer has received in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution licence (MPI).
BANK of America’s profit fell in the second quarter as its income from interest on loans shrank and it set aside more money to cover potential credit losses.
PRICEWATERHOUSECOOPERS (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects.
SOME of China’s largest state-backed financial firms are asking employees in Hong Kong to return a portion of their pay, extending President Xi Jinping’s “common prosperity” campaign to the offshore business hub.
BRITAIN’S HSBC has set up a new unit to tap deals in infrastructure finance and project finance linked to the world’s shift to a lower-carbon economy, and hired a former UK politician to lead it, a senior banking executive told Reuters.
HONG Kong has mandated banks to sell green notes denominated in US dollars, euros and offshore yuan, in the city’s latest push to establish itself as a green finance hub.
CHINA’S Ping An Insurance priced an offering of US$3.5 billion in convertible bonds, joining a wave of issuance of the equity-linked instruments in Asia over the past few months.
THE US Securities and Exchange Commission (SEC) has given preliminary approval to at least three of the eight asset managers hoping to launch exchange-traded funds (ETFs) tied to the spot price of Ether to begin trading next Tuesday (Jul 23), three industry sources said.
