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China to scrap foreign ownership cap for firms managing US$2.9 trillion in insurers’ assets
In a boost for overseas insurance companies, China is set to scrap a cap on foreign ownership of insurance asset management companies under draft rules announced on Friday.
Asean News Headlines as at 9pm on Tuesday (Dec 7)
News highlights from Asean countries in the Star-AseanPlus section for Tuesday (Feb 25)
Hong Kong fintech WeLab to launch digital bank in Indonesia
HONG Kong fintech WeLab said on Tuesday it will buy a controlling stake in Indonesian commercial lender PT Bank Jasa Jakarta and launch a digital bank in the country - one of Asia's fastest-growing digital economies.
Li Ka-shing-backed WeLab to launch digital bank in Indonesia
WeLab is pushing its financial services into Indonesia with a digital bank, expected to launch by the second half of 2022.
HSBC, Citi speed up digital push
Banks face competition from new upstarts as demand for digital services surges
HSBC, Citi speed up digital push
BANKS in Asia’s financial hubs such as HSBC Holdings Plc and Citigroup Inc. are finding that the disruption from the coronavirus outbreak is helping them push back on a threat from a new breed of virtual upstarts.
Jack Ma-backed start-up fund steps up search for next biotech unicorn from Hong Kong
The US$131 million fund started by Jack Ma seeks to nurture the next biotech unicorn, as it looks to mirror the success of AI start-up SenseTime and fintech firm WeLabThe fund has invested US$35 million in more than 20 start-ups, including Hong Kong-based genetics testing company Prenetics
Singapore looks at allowing digital-only banks
SINGAPORE: Singapore is discussing the possibility of allowing virtual banks to operate in the city state, the Monetary Authority of Singapore (MAS) said.
Singapore studying whether to allow digital-only banks
Singapore is discussing the possibility of allowing virtual banks to operate in the city state, the Monetary Authority of Singapore said on May 7.
Singapore studying whether to allow digital-only banks
SINGAPORE: Singapore is discussing the possibility of allowing virtual banks to operate in the city state, the Monetary Authority of Singapore said Tuesday.
