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UBS offers sweeteners to Credit Suisse Asia wealth bankers to retain talent -sources

HONG KONG (Reuters) -UBS has promised retention packages to wealth management staff in Asia at Credit Suisse, two people with knowledge of the matter said, as the Swiss bank tries to stem a talent exodus after the takeover of its former rival. In a town hall address at Credit Suisse’s Hong Kong office on Friday, […]

Australia market major backs plan to break ASX monopoly on post-trade functions

SYDNEY (Reuters) – A top Australian share trading technology firm backed a government proposal to break stock market operator ASX Ltd’s effective monopoly over clearing and settlement, saying its failed software overhaul showed the need for new entrants. In draft legislation published this week, the federal government said it wants to give potential rivals to […]

Swiss franc grapples with safe-haven identity crisis after Credit Suisse

The Swiss franc hasn’t lived up to its safe-haven reputation during the Credit Suisse collapse, as investors have sought shelter elsewhere, bringing more of a boost to the value of the gold in Switzerland’s bullion vaults than to its currency. Money managers ditched the Swiss franc at the fastest rate in two years last week […]

Asian stocks subdued amid banking woes, economic fears

Most Asian stock markets fell on Friday as comments from U.S. regulators failed to entirely quell fears of a banking crisis, while concerns over slowing economic growth also dented sentiment. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes fell 0.3% and 0.5%, respectively, as sentiment soured towards property stocks after beleaguered developer China Evergrande Group’s (HK:3333) debt restructuring plan failed […]

British retail sales rise 1.2% in Feb

British retail sales rose 1.2% in February from the month before, figures from the Office for National Statistics showed on Friday. Economists polled by Reuters had forecast that retail sales volumes in February would be 0.2% higher than in January.

Oil pares losses as Middle East tensions rise after U.S. air strike

Oil prices trimmed early losses on Friday after a U.S. air strike on Iran-backed groups pushed up fears that rising tensions in the Middle East could disrupt supply, although concerns over weak demand and slowing economic growth still weighed. The U.S. carried out precision air strikes on Iran-backed groups in east Syria, in retaliation for […]

Asia FX weakens as dollar steadies from Fed-driven losses

Most Asian currencies fell on Friday and the dollar steadied near seven-week lows as markets speculated over how imminent a pause in interest hikes may be, although dovish signals from the Federal Reserve put most regional units on course for strong weekly gains. The safe haven Japanese yen outperformed its peers, rising 0.5% even as data showed […]

March 7, 2023
By admin

Mastercard brings Google Pay to Kuwait

Mastercard, a leading technology company in the global payments industry, has collaborated with Google to launch Google Pay in Kuwait, strengthening digital payment capabilities in the country. Cardholders can tap to pay with their Android phones or supported Wear OS devices in stores where contactless is in operation. They can also use Google Pay to […]

March 7, 2023
By admin

Bybit launches debit card; suspends US dollar deposits

Crypto Exchange Bybit has begun the roll out of Mastercard debit cards, enabling users to convert their crypto into fiat at the point of sale and ATMs. Available for clients in eligible countries in Europe, Bybit Card will be available for a selection of blue-chip cryptocurrencies, namely, BTC, ETH, USDT, USDC, and XRP. Payment requests […]

March 7, 2023
By admin

AsiaPay launches Visa Instalments

AsiaPay a leading provider of digital payment solutions in the Asia Pacific, has launched Visa Instalments in Hong Kong and will further extend to Southeast Asia to provide merchants more flexible payment options and enhance the purchase experience of consumers. Leading a new trend in credit card shopping, the launch of value-added service products, such […]