Search Results for: Asia
Banks and tech firms apply blockchain to trade finance
August 10th, 2016
An HSBC (HSBA.L) (0005.HK) and Bank of America Merrill Lynch (BAC.N) venture and financial technology firm R3 said separately on Wednesday that they had created ways of using blockchain technology to simplify trade finance processes. The two banks said ...
Dollar Weakens as Muted Prospects for Fed Rate Hike Boost Gold
August 10th, 2016
Bonds gain as odds of a 2016 U.S. rate increase stay below 50% Asian stocks near one-year high as Hang Seng Index climbs The dollar weakened on speculation the Federal Reserve will be slow to raise interest rates amid ...
Oil prices: OPEC may finally take action if crude’s slide continues
August 9th, 2016
Oil’s recent dip back into the $30s per barrel may be enough to get some OPEC members to curb their bickering and consider joint action — especially if oil plummets again. Considering a deal and agreeing to one are ...
Australian Bank Invests $50 Million into Fintech
August 9th, 2016
As it continues the hunt for the most promising Australian fintech startups, Sydney-based venture capital firm Reinventure has closed a fund with the backing of Westpac. So what is in it for the bank? For the bank, the fund ...
Jack Ma Is Opening His Wallet to Europe But Not to Europeans
August 8th, 2016
Payments powerhouse Alipay ramps up search for retail partners Targets Chinese tourists, expats; no offer for local consumers Jack Ma will set a bag aside for you at your favorite Paris store or hail you a ride in Rome ...
The Rich Get Richer as Billionaires Increase in Number
August 8th, 2016
Whatever the world’s economic and market turbulence last year, one group has held up well: billionaires. The combined wealth of the world’s billionaires, defined as individuals with a net worth of $1 billion or above, increased by 5.4% to ...
Swedish Bank Joins Bitcoin Processor’s $4 Million Series A
August 5th, 2016
Swedish banking giant SEB Group and a Danish venture capital firm have invested $4m in Coinify, a digital currency payment processor based in Copenhagen. The Series A round included support from SEB as well as SEED Capital Denmark, an early-stage venture firm ...
Volkswagen AG models face sales suspension; fresh blow to the German automaker
August 4th, 2016
South Korea has suspended sales of most Volkswagen AG models in a fresh blow to the German automaker as it struggles to overcome the global repercussions of its emissions-test cheating scandal and rebuild its tattered image. The government revoked ...
North Korea’s only foreign-founded law firm suspends operations
August 3rd, 2016
North Korea’s first and only law firm set up by a foreigner, Hay, Kalb & Associates, will suspend operations, the firm’s principal said in a statement on, as the country grows increasingly isolated. The firm is a joint venture ...
Europe eyes lackluster open; bank earnings in focus
August 3rd, 2016
European stocks traded slightly lower on Wednesday but banking stocks, thanks to results from HSBC and Societe Generale, rallied as investors digest some more earnings and a fall in the oil price. The pan-European STOXX 600 was down 0.28 percent. Banks in ...
