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Innovation is two-way street between fintechs and traditional banks, say panellists

Innovation in the financial-services space is not just the work of fintech start-ups, but can also arise from the collaboration between these fintech players and traditional banks, said the chief executive of a bank in the United Arab Emirates (UAE) on Tuesday (Nov 15).

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Foreigners offload Chinese bonds for 9th straight month in Oct

Overseas investors sold their holdings of China’s onshore bonds for a ninth straight month in October, albeit at a slower pace, as interest rate differentials between China and the United States continued to drive foreigners away.

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Russia in ‘no hurry’ to lower inflation: central bank chief

RUSSIA’S central bank is trying to gradually lower inflation, but is in no hurry to do so, its chief said on Tuesday (Nov 15).

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Brilliance Asset Management suffers big loss after bets on Li Auto

Brilliance Asset Management, one of Asia’s largest hedge funds with a China focus, posted a massive loss last month after a drop in Chinese stocks hammered its big bet on electric vehicle maker Li Auto.

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Credit Suisse to sell bulk of Securitized Products Group to Apollo

CREDIT Suisse said on Tuesday (Nov 15) it has finalised the sale of most of its Securitized Products Group and related financing businesses to US buyout fund Apollo Global Management – a key part of a sweeping revamp for the Swiss bank.

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DBS, OCBC, UOB raise fixed home loan rates to up to 4.5%: What home buyers need to know

HOME loan rates have shot past the 4 per cent mark after DBS Bank and OCBC Bank raised their fixed-rate packages on Tuesday (Nov 15).

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Schroders APAC chief Susan Soh to retire, Chris Durack appointed

Schroders Asia-Pacific chief executive Susan Soh will retire at the end of 2022 after 17 years with the European investment management firm, it said on Tuesday (Nov 15).

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ECB will probably keep raising rates beyond 2% level: Villeroy

THE European Central Bank (ECB) will probably continue to raise interest rates beyond 2 per cent, but “jumbo” rate hikes will not become a new habit, France’s central bank chief said in a speech in Tokyo on Tuesday.

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China injects enough cash in system to help snap bond slump

CHINA sought to maintain ample cash levels in its financial system with liquidity tools of different maturities, helping halt the worst government bond selloff in six years.

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Credit Suisse cuts senior bank jobs in Asia as overhaul begins

CREDIT Suisse Group has started cutting senior bank jobs in Asia including three managing directors across investment banking and financing as the Swiss giant carries out its plan to reduce global headcount by 9,000, people familiar with the matter said.

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