Featured Asia-Pacific

Trump says he’s in no rush to see North Korea give up nukes

AP — President Donald Trump said Tuesday that he wants to see North Korea eventually give up its nuclear weapons program, but adds he’s not in any rush because U.S. relations with Pyongyang are good going into next week’s summit. “I have no pressing time schedule,” Trump said. Trump said… Read More

China seizes $1.5 billion in online lending crackdown

AP — Chinese police have investigated 380 online lenders and frozen $1.5 billion in assets following an avalanche of scandals in the huge but lightly regulated industry, the government announced Monday. Beijing allowed a private finance industry to flourish in order to supply credit to entrepreneurs… Read More

UK concludes it can mitigate risk from Huawei equipment use in 5G: FT

The British government has decided it can mitigate the risks arising from the use of Huawei Technologies Co Ltd in 5G networks, the Financial Times reported on Sunday, citing two sources familiar with the conclusion of Britain’s National Cyber Security Centre (NCSC). The conclusion reached by Britain would “carry great… Read More
18th February 2019
Roger Ng, a former Goldman Sachs Group Inc banker caught up in the 1Malaysia Development Berhad (1MDB) fraud scandal, will be allowed to return to the United States to face criminal charges against him there, a Malaysian court ruled on Friday. Ng has been detained in Kuala Lumpur since Nov. Read More
13th February 2019
Precious metal dealers in Singapore will have to conduct stricter customer due diligence checks (CDD) and submit details of suspicious transactions, under new measures to combat money laundering and terrorism financing. Law Minister Edwin Tong, in a Second Reading speech on the Precious Stones and Precious Metals (Prevention of Money… Read More
11th February 2019
AP — The Senate’s top Democrat is introducing legislation to “hold China accountable” and sanction laboratories and other traffickers who export fentanyl to the United States. The bill, which will be introduced by Sen. Charles Schumer, of New York later this week, is likely to add to growing tension between… Read More
5th February 2019
A key government-appointed inquiry into misconduct and other issues within the Australian banking sector has highlighted a need to reform culture within the industry, and revealed issues of ‘greed’ within industry, where the drive for profit supersedes customer care. In its final report published on Monday, the Royal Commission said… Read More
5th February 2019
The British government has signed an order to extradite Indian liquor and aviation tycoon Vijay Mallya, the UK’s Home Office said in a statement on Monday. The order follows a London court’s ruling in December that Mallya, who moved to Britain in March 2016, be extradited to India to face… Read More
4th February 2019
The Monetary Authority of Singapore (MAS) has clarified its stance on whether remittance firms can lend out money following a query about their operations. The query, which was published in the Straits Times, said that many maids were being paid through a remittance firm. In its response, the… Read More
4th February 2019
International payments network SWIFT said on Saturday it had signed an agreement with Bangladesh’s central bank to help it rebuild its infrastructure after hackers used it to steal $81 million in 2016 in the world’s biggest cyber heist. Unidentified hackers, suspected to be from North Korea, carried out the heist… Read More
31st January 2019
Bangladesh will file a lawsuit in a U.S. court on Wednesday against Philippine bank Rizal Commercial Banking Corp (RCBC) over its role in one of the world’s biggest cyber-heists, the Bangladesh central bank governor said. In February 2016, unknown criminals used fraudulent orders on the SWIFT payments system to steal… Read More
30th January 2019
The United Kingdom has dropped out of the league of top ten countries perceived to have the lowest levels of government corruption, while the United States has tumbled out of the top 20 states, according to the new Corruption Perception Index. The rankings, which list 180 countries and territories by… Read More
30th January 2019
Huawei Technologies Co Ltd’s chief financial officer, the central figure in a high-stakes dispute between the world’s two largest economies, made her first appearance in a Canadian court in more than a month on Tuesday as Ottawa weighs extraditing the Chinese executive to the United States. Meng Wanzhou, daughter of… Read More