Asia Pacific

Finance

Access Bank Nigeria edges African peers as Best Digital Bank in Africa

The bank curated a strong digital active client base but its low digital BankQuality score and a rise in customer complaints after its acquisition of Diamond Bank in 2019 tainted some of its success.Read More

World Bank warns coordinated global response still needed to avert protracted crisis

The World Bank estimates global growth in 2020 to contract by 4.3%, a drop of 6.8% from its pre-COVID-19 forecast in January 2020. It emphasised the need for global cooperation to address these challenges.Read More

Future-proofing Asia Pacific’s financial services

Lisa O’Connor, Head of Capital Markets Strategy at SWIFT discusses how the global provider of secure financial messaging services is delivering infrastructure that will help the world of payments and securities adapt, thrive and grow in a competitive landscapeRead More

Calibrating the industry’s digital transformation

Today’s legacy technologies are at the cusps of being displaced as new models of operating are developed. Traditional centralised networks will be replaced by decentralised ledgers built on blockchain technology and machines enabled by artificial intelligence and remote sensors will be able to operate autonomously and collectively.Read More

Absa Bank infused a new sense of ownership and growth after split with Barclays group

Despite fierce competition from its local South African peers and some Nigerian banks, Absa emerged as the Best Retail Bank in AfricaRead More

Legal

After Fintech, Singapore eyes Legaltech status

Singapore, a haven for disruptive fintech firms, is aiming to shake up Asia's legal sector next The Lion City will host Southeast Asia's first legaltech accelerator from April. The city-state's initiative aims to groom legaltech startups as well as incubate new business models or services conceived by law firms. Singapore's law academy has launched...

China updates New Industry Catalogue

PRC reduces regulatory procedures for foreign investments following its 2016 reforms. China creates a nationally applicable “negative list” for foreign investment, which opens up more industries for multi-national companies.Foreign Investments Filing Administrative Rules will be updated and published soon by the Ministry of Commerce to clarify...

Proposals to make free movement of data a principle of EU law expected this autumn

Ansip said proposed new EU legislation to tackle unnecessary restrictions on where data can be stored are likely to be published this autumn.The proposals will also look to make it easier for businesses to move their data between rival cloud providers and ensure that public sector bodies can access data held by authorities in another EU country to help...

New advertising standards in the UK to take tougher stance on gender stereotypes

The new standards will be drawn up by the Committee of Advertising Practice (CAP), according to a new report on gender stereotypes in advertising (64-page / 5.4MB PDF) published by the Advertising Standards Authority (ASA), the watchdog that oversees compliance with UK advertising rules.The CAP will also look to "clarify standards that reflect the ASA‘s...

UK government urged to avoid data transfers 'cliff edge' at point of Brexit

In a new report, a House of Lords committee warned that trade and security could be impacted if the flow of data is disrupted at the point of Brexit.To enable data to flow between the UK and EU post-Brexit, the EU Home Affairs Sub-Committee urged the UK government to seek a so-called 'adequacy' decision from the European Commission, which would recognise...

Deals

Lyreco Group announces the acquisition of DeskRight

Lyreco Group today announced the acquisition of DeskRight, a leading office supplies business on the Singapore market. The move puts Lyreco, European leader and number three worldwide in the distribution of workplace supplies solutions to businesses, in a leadership position on the Singapore market and represents the first step in its new development...

HSA Advocates advised a consortium of four ports in relation to strategic sale of Dredging Corporation of India by Government of India

HSA Advocates represented a consortium of four ports Vishakapatnam Port Trust, Paradeep Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust in relation to strategic sale of Dredging Corporation of India concluded by Government of India (GoI). The four ports have acquired 100% of GoI's shares in Dredging Corporation of India (i.e. 73.47%...

Duff & Phelps enhances restructuring and dispute offering with acquisition of Zolfo Cooper Asia

Expands Footprint in Greater China Region Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today announced the acquisition of Zolfo Cooper Asia, a leading independent provider of restructuring, insolvency, litigation support and forensic accounting services. The combination of Duff & Phelps and Zolfo...

Investcorp launches in India with acquisition of IDFC Alternative’s Private Equity and Realty Businesses

Entry in to India expands footprint of direct investments into Asia Investcorp a leading global provider and manager of alternative investment products, today announced the launch of its operations in India with the imminent completion of its first deal, the acquisition of the Private Equity and Real Estate investment management businesses of IDFC...

China, Japan overseas M&A push to extend in 2019

China’s economic growth slowdown to drive dealmaking abroadJapanese companies may continue to seek large foreign dealsCompanies in China and Japan will continue their pursuit of overseas acquisitions this year amid the economic growth slowdown and geopolitical uncertainty, according to JPMorgan Chase & Co. Ready availability of capital will...

Acq Lite

Pro wrestler Mick Foley says he tested positive for COVID-19

Jan. 2 (UPI) -- Pro wrestler Mick Foley has announced he tested positive for the coronavirus. "I tested positive for COVID following a December virtual signing, and have been isolating in a hotel room for the past 18 days. Please continue to take this virus seriously -- mask up, social distance, look out for one another. Wishing all of you a happy,...

'Ratatouille' musical event raises $1M for Actors Fund

Jan. 2 (UPI) -- The one-night-only virtual performance of Ratatouille: The TikTok Musical raised at least $1 million for The Actors Fund, organizers announced. "You did it! You raised over $1 million to benefit @TheActorsFund! But we aren't done yet. Tickets are still on sale all weekend long on @TodayTix.http://Ratatousical.com," the show's Twitter...

Taylor Swift's 'Evermore' is No. 1 album in the U.S. for 2nd week

Jan. 2 (UPI) -- Pop music star Taylor Swift's Evermore is the No. 1 album in the United States for a second-consecutive week. Coming in at No. 2 on the Billboard 200 chart dated Saturday is Paul McCartney's McCartney III, followed by Eminem's Music to Be Murdered By at No. 3, Michael Buble's Christmas at No. 4 and Mariah Carey's Merry Christmas at No....

Famous birthdays for Jan. 2: Renee Elise Goldsberry, Taye Diggs

Jan. 2 (UPI) -- Those born on this date are under the sign of Capricorn. They include: Advertisement -- Industrialist Henry Flagler in 1830 -- Former U.S. Sen. Barry Goldwater, R-Ariz., the 1964 Republican nominee for president, in 1909 -- Author Isaac Asimov in 1920 -- Former televangelist Jim Bakker in 1940 (age 81) -- Zoologist Jack Hanna in 1947...

Comedian John Bishop joins 'Doctor Who' cast for Season 13

Jan. 1 (UPI) -- Comedian and actor John Bishop has joined the cast of Doctor Who for Season 13, the BBC announced Friday. Bishop will play Dan, companion to the 13th Doctor, played by Jodie Whittaker, on the beloved sci-fi series, following the departures of Bradley Walsh and Tosin Cole. Advertisement "As he becomes embroiled in the Doctor's adventures,...