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Luno plans launch of Malaysian HQ in 2019

KUALA LUMPUR: London-based cryptocurrency company Luno has announced plans to open a headquarters in Kuala Lumpur in the first quarter of 2019.

US sues UBS, alleges crisis-era mortgage securities fraud

NEW YORK: The US government on Thursday filed a civil fraud lawsuit accusing UBS Group AG, Switzerland's largest bank, of defrauding investors in its sale of residential mortgage-backed securities leading up to the 2008-09 global financial crisis.

Driving digital ID usage

AS home to more than 655 million people from diverse cultures, South-East Asia is the world’s fastest growing Internet region and the momentum of its digitalisation is showing no signs of decline.

Smooth solutions: Edward Law, founder and CEO of the Securemetric group which has implemented PKI projects for government organisations, financial institutions, public certification authorities to IT service providers.

Credit Suisse isn’t planning further trading cutbacks

ZURICH: Credit Suisse Group AG’s chief executive officer Tidjane Thiam said that the bank won’t further cut back its Global Markets business after the trading unit posted a surprise loss in the third quarter.

Australia flags higher capital requirements

SYDNEY: Australia’s bank regulator said it wants to raise the amount of spare capital banks must carry, its third such request in three years, heaping pressure on companies already bracing for tightened regulation.

Capital needed: The logo of the ANZ Banking Group is displayed in the window of a newly opened branch in central Sydney, Australia. APRA wants the country’s four biggest lenders to raise their available capital by four to five percentage points by 2023 from the current 14.5 of total risk-weighted assets. — Reuters

BNM maintains OPR at 3.25%

KUALA LUMPUR: The Monetary Policy Committee of Bank Negara Malaysia has maintained the overnight policy rate at 3.25% in line with the intended policy stance.

Big investors sue 16 banks in US over currency market rigging

NEW YORK: A group of large institutional investors including BlackRock Inc and Allianz SE's Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly US$5.1 trillion-a-day foreign exchange market.

A group of large institutional investors including BlackRock Inc and Allianz SE's Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly US$5.1 trillion-a-day foreign exchange market.

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