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PayNow links up with India’s UPI, enabling real-time payments between Singapore and India

INDIVIDUALS in Singapore and India will now be able to send real-time payments to one another through a service that links the Republic’s PayNow with India’s Unified Payments Interface (UPI).

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HSBC takes US$300 million hit on Russia business sale, says deal on track for 2023

HSBC said it still expects to complete the sale of its Russia business in first-half 2023, in the most significant update on the progress of the deal since it said in July 2022 it had agreed to sell the unit to local lender Expobank.

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HSBC eyes special payout after profit jumps, bonus pool cut

HSBC Holdings will consider a special payout after the sale of its Canadian unit as the bank attempts to face down a campaign from its largest shareholder to pursue a wider break-up of the business.

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JPMorgan cuts about 30 investment banking jobs in Asia-Pacific

JPMORGAN Chase & Co is letting go of about 30 investment bankers in Asia-Pacific this week, with a majority of them based in Greater China, as deal flows in its biggest growth market in the region struggle to rebound, people familiar with the matter said.

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FTX unit in Japan becomes first to resume customer withdrawals

THE Japanese subsidiary of Sam Bankman-Fried’s failed crypto exchange plans to reopen withdrawals on Tuesday (Feb 21), making itself the first of the FTX group’s businesses to return money to clients.

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Asia central banks may need to keep hiking if core inflation stays high: IMF

ASIA’S central banks may need to raise interest rates further if core inflation does not show clear signs of returning to target, according to the International Monetary Fund (IMF).

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Asia central banks may need to keep hiking rates if core inflation stays high: IMF

ASIA’S central banks may need to raise interest rates further if core inflation does not show clear signs of returning to target, according to the International Monetary Fund (IMF).

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Australia’s central bank abandoned pause option for February rate hike

AUSTRALIA’S central bank, startled by the risk that inflation could prove stickier than previously thought, abandoned all thought of pausing at its February policy meeting and signalled more rate hikes would be needed in the months ahead.

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Hong Kong’s crypto hub ambitions win quiet backing from Beijing

IN October, Hong Kong rolled out the red carpet for crypto businesses to help revitalise the embattled financial hub. Signs are now emerging the push has under-the-radar backing from Beijing, providing impetus for mainland Chinese firms to return.

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Hong Kong plans to let retail sector trade larger crypto tokens like Bitcoin

HONG Kong outlined a plan to let retail investors trade digital tokens like Bitcoin and Ether, taking a major step towards its goal of becoming a crypto hub in a policy shift that contrasts with a crackdown in the US.

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