China 

China’s small banks still struggling to obtain funds to lend three months after first bank failure in 20 years

China’s numerous small banks are still struggling to raise the finances needed to be able to offer more loans to aid the slowing economy nearly three months after the country’s first bank failure in more than 20 years.After the government takeover of Baoshang Bank at the end of May, larger banks and investors remain cautious about providing financing to smaller institutions, fearful that their balances sheets hide large numbers of bad loans amid a continued government clampdown on risky lending… Source link

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Singapore 

CPF top-ups, deductions continue for man missing for 23 years, Singapore News

Central Provident Fund (CPF) payments and other assistance have been going to a man who has been missing for 23 years because he has yet to be officially declared dead. Mr Boo Meng Hock has received a total of about $15,000 in cash and CPF top-ups, which have offset MediShield Life premium deductions of about $7,300, the CPF Board said last Wednesday. It has continued the payments because Mr Boo has not been registered as dead with the Immigration and Checkpoints Authority (ICA). Until that happens, he is presumed to…

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Vietnam 

State Treasury to become digital in next ten years – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Participants discuss solutions for the development of the State Treasury in the future. — Photo thoibaotaichinh.vn   HÀ NỘI — The State Treasury of Việt Nam will set up an effective and transparent treasury system in the next ten years, said General Director Tạ Anh Tuấn. This is a key part of the draft strategic direction for development of the State treasury in the period 2021-30, Tuấn said at a conference co-hosted by Vietnam State Treasury and International Monetary Fund (IMF) in Hà Nội on Monday. He said the State treasury…

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Home 

HSBC CEO John Flint steps down less than two years after taking top role

HSBC said on Monday that John Flint had abruptly stepped down as chief executive less than two years after he took the top job at the bank.He will be replaced on an interim basis by Noel Quinn, who has headed global commercial banking since December 2015. Quinn previously served as regional head of commercial banking for Asia-Pacific out of Hong Kong.“I have agreed with the board that today’s good interim results indicate that this is the right time for change, both for me and the bank,” Flint… Source link

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Singapore 

Times Bookstores will close Centrepoint branch in September after 36 years, Singapore News

SINGAPORE – Times Bookstores is closing its Centrepoint branch on Sept 23 as part of an “ongoing renewal of store locations from time to time”, said a spokesman for the chain on Friday (Aug 2). It is the latest in a slew of closures in Singapore’s book scene that has included Books Kinokuniya’s Liang Court outlet in April, Popular’s Thomson Plaza outlet in June and MPH’s last two local outlets. MPH’s Raffles City store closed on Sunday (July 28) and its Parkway Parade branch will close on Sept 1. Times…

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Singapore 

Woman gets 11 years’ jail in one of Singapore’s worst cases of maid abuse, Singapore News

SINGAPORE – A woman who used an array of household items – such as a hammer, chopper, bamboo pole and stone pestle or pounder – to hit her Indonesian maid, causing permanent disfiguration, was on Thursday (Aug 1) jailed for 11 years. This is believed to be the longest sentence for maid abuse. Zariah Mohd Ali, 58, was also ordered to compensate the victim with a sum of nearly $56,000 or serve an additional five months in jail. Her husband Mohamad Dahlan, 60, was sentenced to 15 months’ jail for his role…

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Home 

5G to stimulate US$500 billion in China tech growth over next five years, government researcher projects

The roll-out of 5G services across China is predicted to spur new growth in the country’s technology sector amid trade tensions with the United States, as industries meet the challenge of adopting advanced applications for the next-generation mobile infrastructure.At the Global Mobile Internet Conference held in the southern coastal city of Guangzhou on Saturday, a representative from the China Academy of Information and Communications Technology (CAICT) forecast that 5G will stimulate growth… Source link

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Singapore 

Ex-NUS lecturer who molested teen boys gets 3 years 7 months’ jail, plans to appeal against conviction, Singapore News

SINGAPORE – Former National University of Singapore lecturer Chan Cheng, who was on the run for 17 years after molesting five teenage boys at a school camp, was sentenced to three years and seven months’ jail on Monday (July 29). Chan, who is now 59, had been found guilty of five counts of molestation last week by District Judge Shaiffudin Saruwan after a trial. Seven other molestation charges involving four boys were taken into consideration for sentencing. On Monday, the prosecution called for the court to sentence Chan to 50…

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Home 

Cyber insurance a highly profitable sector globally, has recorded strong growth over past four years, Moody’s says

Cyber insurance, which covers losses emanating from loss of data as well as liabilities arising from cyberattacks, has recorded strong growth globally over the past four years, Moody’s Investors Services said in a report last week.The rating agency said it was a highly profitable business line for global insurance companies. “The proliferation of new rules around the globe boosts demand for cyber insurance, but also raises questions and highlights uncertainty around the scope of insurance… Source link

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Singapore 

Nicholas Tse has itch to act in thriller again, reunites with Donnie Yen after 14 years, Singapore News

Nicholas Tse, who has lately helmed cooking shows, hopes to whip up another feast for the eyes – this time on movie screens. He is reuniting with actor Donnie Yen after 14 years to shoot a thriller called Raging Fire. It marks a return to action movies after previous stints in such films as New Police Story (2004) and Dragon Tiger Gate (2006). According to the on.cc portal, Tse, 38, has already served up an appetiser, saying that “we’re shooting in Tsim Sha Tsui’s (busy) Peking Road and Canton Road,…

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