Depositors upset over ID

By:
On:
In: South-East Asia

Commercial banks have been urged by the Anti-Money Laundering Office (Amlo) to ensure that a new requirement that people depositing at cash deposit machines (CDMs) must verify their identity when making transactions will not end up out of pocket.Continue Reading

EU weighs economic life without China’s supply chains

By:
On:
In: Asia, Business

Beijing is bidding to highlight its European Union partnership following news that the bloc’s foreign service is preparing to call on member states to diversify their supply chains from China. Chinese Foreign Minister Wang Yi said on October 17 that the EU should view Sino-EU cooperation objectively, expand common interests and contribute to the stability […]Continue Reading

Pocket raises pre-seed funding led by East Ventures

By:
On:
In: Technology

Aims to democratise access to digital payment, build financial literacy
Funds for towards product development, increasing user adoption Pocket, an Indonesia-based startup that provides a holistic financial health platform for families, announced the completion of an undisclosed amount of pre-seed funding in a round led by East Ventures. ​
In a statement, the fintech…Continue Reading

China’s property sinkhole growing deep and wide

By:
On:
In: Asia, Business

Chinese real estate developers are desperate to recover from the prolonged lockdowns driven by China’s zero-Covid policy. But the slowdown in home sales is also related to the collapse of household confidence in the country’s real estate market. The mortgage boycott in China is a direct consequence of the bankruptcies of an increasing number of developers. […]Continue Reading

Asia faces economic headwinds

By:
On:
In: Asia

While Joe Biden is trying to calm concerns about recession and Christine Lagarde is scaring markets with quantitative easing (QE), the central banks of South Korea and Japan are pleasing investors in their own way. Starting with the “Land of the Rising Sun,” despite Japan’s 2.84 trillion yen (US$19.7 billion) intervention in the foreign-exchange market in the […]Continue Reading

Chinese American gangster transformed cartel money laundering

By:
On:
In: Asia

This story was first published by ProPublica, a Pulitzer Prize-winning investigative newsroom. In 2017, US Drug Enforcement Administration agents following the money from cocaine deals in Memphis, Tennessee, identified a mysterious figure in Mexico entrusted by drug lords with their millions: a Chinese American gangster named Xizhi Li. As the agents tracked Li’s activity across […]Continue Reading

Singapore dollar the world’s other safe haven

By:
On:
In: Asia, Business

SINGAPORE – In the latest salvo in its fight against inflation, Singapore’s central bank tightened monetary policy on Friday (October 14), allowing the national dollar to appreciate to curb domestic cost pressures in a move likely to bolster the currency’s increasingly favored status as it demonstrates resilience against the fast-appreciating US dollar. The Monetary Authority of Singapore (MAS) […]Continue Reading