Posts by Stephanie Irvin
Banks to start phasing out OTPs for account logins in fight against scams
Customers will have to use their tokens for bank account logins either via the browser or the mobile banking app MAJOR retail banks in Singapore will begin phasing out the use of One-Time Passwords (OTPs) for account login by digital token users within the next three months. Customers who have activated their digital tokens on…
Read MoreTop Thai budget carrier expects 2024 core profit to hit record
ASIA Aviation, owner of Thailand’s biggest low-cost airline, expects record earnings from core operations this year as a surge in overseas visitors boosts seat demand and airfares. Thai AirAsia, the company’s 100-owned budget airline unit, also intends to add more flights to China and India to capitalise on a boom in travel from its two…
Read MoreBOJ releases summary of market views on bond taper plan
THE Bank of Japan (BOJ) on Tuesday (Jul 9) released a summary of opinions it collected in a survey of bond market participants on how the central bank should taper its huge bond purchases. Some bond market participants called for reducing BOJ’s monthly government bond purchases to around two trillion to three trillion yen (S$17…
Read MoreHong Kong unveils plan to regulate Uber 10 years after launch
HONG Kong outlined long-anticipated plans to regulate ride-hailing services, potentially limiting the scope of Uber Technologies in a city known for its poor taxi services. Authorities intend to license platforms such as Uber and adopt tougher penalties for rule breaking, the Transport and Logistics Bureau said in a paper published on Monday (Jul 8). Taxi…
Read MoreTemasek-backed 65 Equity Partners invests S$100 million in advanced manufacturer Hi-P
ADVANCED manufacturing service provider Hi-P has secured a S$100 million investment from Temasek-backed 65 Equity Partners. The capital injection was through the Local Enterprise Fund, a joint S$1 billion fund with the Singapore government to develop local companies. Hi-P and 65 Equity Partners will work on a new strategic focus and leadership succession for accelerating…
Read MoreError 404: Web not found, killed by Google’s AI search
IT’S been 24 years since Google Search became the dominant tool to find everything on the internet, but now Google is upending the system it helped engineer by injecting artificial intelligence (AI) into the equation. Now companies everywhere, including South-east Asia, are very nervous about what this means for their business. “There’s generally panic,”…
Read MoreArchegos’ Bill Hwang makes last pitch to jury set to decide his fate
ARCHEGOS Capital Management founder Bill Hwang’s lawyer made his final pitch to a jury poised to start deliberating his fate, arguing the US government’s fraud and market-manipulation case over the meltdown of the prolific investor’s family office “makes no sense.” During an eight-week trial, Hwang was accused of being the mastermind of a scheme that…
Read MoreHSBC eyes payouts, new roles for executives pipped to CEO job: sources
AS HSBC prepares to name its third CEO in nine years, the bank is exploring financial incentives and reallocating key projects to retain those who miss out on the top job, two people with knowledge of the discussions told Reuters. Europe’s biggest bank could reassign its technology transformation and innovation strategy, currently overseen by CEO…
Read MoreCrypto funds see inflows for first time in a month
DIGITAL asset investment products had positive inflows for the first time in a month after the prices of cryptocurrencies across the board dropped to their lowest levels in months. Crypto digital asset products saw inflows totalling US$441 million in the week ended Jul 5, CoinShares International data show, a significant rebound from the US$39 million…
Read MoreUS: S&P 500, Nasdaq extend gains ahead of inflation numbers
THE S&P 500 and Nasdaq indexes both extended earlier gains on Monday, closing at records again as investors await key inflation data later this week. The broad-based S&P 500 Index added 0.1 per cent to 5,572.85, while the tech-heavy Nasdaq Composite Index rose by 0.3 per cent to 18,403.74. The Dow Jones Industrial Average, however,…
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