12/20/2018
US$6.4 trillion halal economy lures Malaysia’s biggest Islamic bank to go global
The size of the world’s halal economy, which caters to Muslims by complying with the religion’s tenets, has nearly tripled from 2012.
Legal, Regulation & Compliance
12/19/2018
World Bank cuts Malaysia's 2018 growth forecast
External headwinds, limited fiscal room risks to near-term economic expansion
12/19/2018
Goldman Sachs Ignored 1MDB Warning Signs in Pursuit of Asian Business
Firm blames rogue bankers for dealings with scandal-plagued Malaysian investment fund, but engaged in lax oversight of partners
12/19/2018
Conyers Announces Recipient of Annual Hong Kong Commercial Law Prize
The Conyers Dill & Pearman Prize in Commercial Law was established in 2010 by Conyers’ Hong Kong office in conjunction with The University of Hong Kong.
12/18/2018
JB Financial Group Signs a Strategic MOU with CIMB Niaga for the Open Banking Platform Business in Indonesia
The cooperation will drive greater financial inclusion in Indonesia and contribute to building financial stability in the financial services industry.
12/18/2018
Malaysian bank CIMB denies security breach after customers say accounts compromised
The statement came hours after Mr Vijandren Ramadass, the founder of tech portal Lowyat.net, made a posting about the alleged breach on Sunday.
12/18/2018
Judy Lee is announced as one of “China’s elite top 50 lawyers (foreign firms)” by China Business Law Journal
The inclusion comes as a result of the publications annual survey which ranks 150 elite lawyers (100 of whom are from Chinese law firms and 50 of whom are from foreign law firms) involved in China business.
12/18/2018
Japan's central bank to warn of rising growth risks, policy seen steady
BOJ expected to keep short-term rate target at -0.1%, 10-year yield target around 0%
12/18/2018
China's plans to invest $20 billion in Egypt collapse
Egypt's economy is still dwindling after the 2011 uprising ushered in political and economic instability.
12/18/2018
Bank of Baroda to shut three African branches by June
As on January 31, 2018, PSBs had about 165 overseas branches, besides subsidiaries, joint ventures and representative offices.
12/18/2018
Hong Kong-based Vistra aims to be one of the global ‘big four’ in the corporate services industry
The industry is in a similar position as the accountancy and tax advisory business 30 years ago, before consolidation created a ‘big four’ of dominant global players
12/17/2018
China central bank says to guide credit, social financing growth as economic challenges rise
The central bank reiterated that it will step up support for private and smaller companies, making it easier for these firms to access bank loans.
12/17/2018
This PowerPoint presentation proves Huawei CFO Sabrina Meng Wanzhou is guilty, says US. Preposterous, says her lawyer
But the US says Skycom was actually an unofficial subsidiary, helping Huawei evade US and EU sanctions on Iran
12/17/2018
New Zealand Proposes to Nearly Double Bank Capital Requirements
“Having shareholders able to absorb a greater share of losses if the company fails also provides stronger protection for depositors.”
12/17/2018
Asian central bankers on the ropes
India's RBI is not alone as governments fight to curb hard-won bank independence
12/17/2018
The Story of Malaysia’s 1MDB, the Scandal That Shook the World of Finance
The figures are mind-boggling: A Malaysian parliamentary committee identified at least $4.2 billion in irregular transactions related to 1MDB.
12/17/2018
Malaysia files criminal charges against Goldman Sachs over 1MDB
According to the charge sheets filed in a Kuala Lumpur court obtained by theedgemarkets.com, the primary target is Goldman Sachs International (UK) which had arranged the sale of three bonds — two in 2012 and one in 2013.
12/16/2018
China’s rich rush to shelter $1 trillion from new taxes
The reforms, which take effect Jan. 1, are meant to reduce the tax burden on lower-and middle-income people by making the rich pay more.
12/16/2018
Asia faces tough contradictions in dealing with climate change
A major sticking point in negotiations was hammering out a new set of transparency standards.
12/16/2018
$3b worth Pakistani named in UK insider trading case
The trader said that his Pakistani associate was trading “high multiples” alongside him.