Regulators need to increase their scrutiny of non-bank firms that are moving into the financial business, according to the chief executive officer of DBS Group Holdings Ltd, South-East Asia’s largest lender.
News Articles
HK passes New York as home to the ultra-rich
New York has lost its crown as home to the most ultra-rich people, beaten out by the rising tide of extreme wealth in Asia.
World Bank launches world-first blockchain bond
The World Bank has priced the world’s first public bond created and managed using only blockchain in a A$100 million ($73.16 million) deal designed to test how the technology might improve decades-old bond sales practices.
Wealth managers getting ‘crazy’ pay hikes to defect
With great wealth comes great remuneration. Competition to manage the money of Asia’s burgeoning army of millionaires has pushed pay hikes for wealth managers to the highest in more than a decade.
London: Emerging market rout is longest since 2008
For stocks, it’s 222 days. For currencies, 155 days. For foreign-currency bonds, 240 days.
UK house-price growth cools to its weakest pace in 5 years
U.K. house-price growth has slowed to the weakest pace in five years, while London values are falling, according to Nationwide Building Society.
Thailand mulls tougher tax rules
Thailand is studying plans to toughen tax collection rules for Internet and technology firms like Alphabet Inc’s Google, the head of the Revenue Department told Reuters, as the tax affairs of these firms comes under growing scrutiny in South-East Asia.
M&S to close stores at home and abroad as profits fall
Britain’s Marks & Spencer (M&S) said it would shut about 30 stores at home and 53 abroad, with its new boss seeking to revive the retailer by focusing more on food and less on its struggling clothes and homewares ranges.
US The Best Place To Be A Rich CEO
If your life’s goal is to be a highly-paid chief executive officer, the US is the place. But if your dream is just to be richer than society, South Africa and India are great bets too.
Tencent Q3 Revenue Jumps Above Expectations
Tencent Holdings Ltd.’s growing appetite for spending on new businesses helped fuel a stronger-than-expected rise in revenue despite a weakening Chinese economy.
