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FINANCE Saturday, 15 August 2015 17:34

Abenomics Under Pressure - Again

Figures due on Monday in Tokyo are projected to show that Japan, the world’s third-largest economy shrank at an annualised rate of 1.9% in the second quarter. The well-documented slowdown of the Chinese economy and its impact on surrounding Asian neighbours has...

FINANCE Saturday, 15 August 2015 17:32

Tibetan Masterpiece Leads Bonhams Indian Himalayan And South East Asian Sale

A magnificent gilt-copper alloy figure of Chakrasamvara made in 15th-century Tibet is the highlight of Bonhams Indian, Himalayan and Southeast Asian Art sale in New York on 14 September. It is estimated at $400,000 – 600,000. The piece expresses one of the most...

FINANCE Saturday, 15 August 2015 17:28

Sumitomo To Acquire US Insurer In US$3.7 Billion Deal

Japan’s Sumitomo Life Insurance Company (Sumitomo) has agreed to acquire Symetra Financial Corporation (Symetra), a US life insurance company, for US$3.7 billion. The transaction is expected to close in the first quarter or early in the second quarter of 2016,...

FINANCE Friday, 14 August 2015 15:11

Is Jack Ma The Owner Of Hong Kong’s Priciest Home?

It may have been a rough week for his Alibaba business with estimates of his own wealth having decreased by more than US$750 million but Hong Kong was buzzing last night with news that Jack Ma just might have bought the most expensive home in Hong Kong. Located...

FINANCE Friday, 14 August 2015 15:10

Friday August 14th – APAC Movers Roundup

The Asian Wealth Times brings you yet more senior moves in what is proving to be a very active August week. In Australia BlackRock has hired two experienced sales strategists to its iShares business team to focus on adviser relations. Joshua Persky has been...

FINANCE Friday, 14 August 2015 15:09

Singapore Developer Adds Jumeirah Kuala Lumpur Hotel To Portfolio

Singapore based lifestyle property developer Oxley Holdings Limited, has through its wholly-owned subsidiary, Oxley Rising Sdn. Bhd., signed management agreements with Jumeirah Group (“Jumeirah”), the global hotel company and a member of Dubai Holding, to operate...

FINANCE Friday, 14 August 2015 15:08

Hong Kong Office Market Active With Several Transactions

According to a recent report from Knight Frank in July the Grade-A office sales market in Hong Kong was active, with a number of en-bloc transactions being recorded. Meanwhile, the office leasing market was also robust, particularly in Central. In the housing...

FINANCE Thursday, 13 August 2015 22:12

New Asia Pacific Head For Julius Baer

Jimmy Lee will join Julius Baer on 1 October 2015 to become Head Asia Pacific and a member of Bank Julius Baer’s Executive Board with effect from 1 January 2016. In the past 25 years, Jimmy Lee has had a proven track record in the private banking industry in Asia...

FINANCE Thursday, 13 August 2015 22:11

Massive Fintech Deal To Create A Global Powerhouse

In a substantial deal that will have repercussions across the Asia Pacific wealth management sector FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology solutions and a global leader in consulting and outsourcing solutions, has signed...

FINANCE Thursday, 13 August 2015 22:10

Gold Demand Falls In Q2 2015 - Reduced Appetite In Asia

The World Gold Council’s Gold Demand Trends report for Q2 2015 shows that total demand was 915 tonnes (t), a fall of 12% compared to the same period last year, due mainly to a decline in demand from consumers in India and China. However, demand in Europe and the...

FINANCE Thursday, 13 August 2015 22:09

Double-digit Growth In H1 2015 For Allianz in Asia

Allianz in Asia-Pacific maintained its growth in 2015 by achieving double-digit growth in revenues. Total revenue was reported at 5 billion euros in the first half of 2015, compared to 3.7 billion euros in the same period last year, an increase of 35 percent. In...

FINANCE Thursday, 13 August 2015 15:55

UBS Ups The Disruption Ante With Future Of Finance Challenge

UBS has launched The UBS Future of Finance Challenge, an open competition for entrepreneurs and technology startups around the world. The Swiss banking giant is looking for innovative and potentially disruptive technological ideas and solutions that will support...

FINANCE Thursday, 13 August 2015 15:50

Singapore Based Investor Buys Lisbon Office Tower For €75m

The 29,000 sqm Torre Ocidente, one of the two office towers of the Colombo development in Lisbon, which includes the iconic, 120,000 sqm Colombo shopping centre, has been sold for a price thought to be around €75 million. Cushman and Wakefield acted on behalf of...

FINANCE Thursday, 13 August 2015 14:59

China to Inspect Online Equity Crowdfunding Platforms

According to media reports from China The China Securities Regulatory Commission (CSRC) will soon begin inspecting online equity financing platforms to address risks brought by illegal activities. Last month China announced new Internet finance guidelines calling...

FINANCE Thursday, 13 August 2015 14:57

New Financial Advisory Firm Established In Australia

Jeffrey Wrightson, Stephen Thaxter, Chris Forrest and Nina Kazmierczak have set up Sovereign Wealth Partners, their own non-aligned boutique advice firm. The new firm is also backed by Bennelong Wealth Partners, the wealth management arm of Bangarra Group, which...

FINANCE Wednesday, 12 August 2015 22:09

M&G Real Estate Makes First Retail Acquisition In South Korea

M&G Real Estate, the real estate fund management arm of M&G Investments, has acquired three retail assets in South Korea at a combined value of US$230 million, representing an average yield of 6.5%. The acquisition was made on behalf of its core Asia real estate...

FINANCE Wednesday, 12 August 2015 14:59

Possible Implications Of China’s Record Weakening Of The Renminbi

Following yesterdays move by China to calibrate the value of the yuan we feature a quick look at possible implications from Anthony Doyle, Investment Director, Retail Fixed Interest at M&G Investments. The People’s Bank of China (PBoC) announced yesterday morning...

FINANCE Wednesday, 12 August 2015 14:58

Midweek APAC Professional Moves – Wednesday August 12

The month of August can be a slow one on the hiring front however the senior moves show no signs of slowing down. Here is a roundup of some of the main moves. In Hong Kong: The fund industry veteran and ubiquitous media speaker Mark Konyn has left Cathay Conning...

FINANCE Wednesday, 12 August 2015 14:55

Manulife’s Innovative Approach To Insurance In Hong Kong

Manulife Asia has launched ManulifeMOVE – a unique insurance concept for consumers, encouraging them to be more active and stay healthy. The program, which kicks off in Hong Kong, integrates an innovative activity-tracking program with insurance solutions, and...

FINANCE Wednesday, 12 August 2015 14:54

OECD Takes Further Steps To Ending Offshore Tax Evasion

The OECD has published a Common Reporting Standard Implementation Handbook to assist government officials in the implementation of the Standard for the Automatic Exchange of Financial Account Information in Tax Matters. The handbook is the first edition and...

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