Standard Chartered, the emerging markets lender focused on Asia, reported its ninth consecutive year of record earnings, with pre-tax profits rising 11pc to $6.8bn.
Indian philanthropy suffers from some redundancy, the study found, with most philanthropists preferring to set up programmes through their own foundations, rather than investing in pre-existing non-governmental organizations, or programmes already in pla
Satur, who earlier headed the securities arm of UBS in Australia and the equity trading divisions in the United States, is setting up the macro hedge fund and seeking to raise up to A$ 500 million ($535 million), the sources said.
Using the most recent International Monetary Fund data available, Forbes said Singapore “thrives as a technology, manufacturing and finance hub with a GDP (PPP) per capita of nearly US$56,700 (SG$71,200).”
Ever since Deng Xiaoping opened Chinese doors to the world decades ago, the US has forged an important, if sometimes politically contentious, business relationship with China.
HSBC, which will report its full-year results for 2011 next Monday, is to issue tens of millions of pounds in new shares to cover any bonuses of more than £50,000 awarded to UK-based employees, people close to the bank tell me.
The investment vehicle will be comparable to the existing 73.07 billion Australian dollar (US$78 billion) Future Fund set up by the Commonwealth government in Canberra, which covers public pension liabilities, state Premier Colin Barnett said.
The bank has enjoyed a sweetheart, 10-year lease on space in Two International Finance Centre, which dominates Hong Kong's Victoria Harbour skyline, in a deal struck when the city was staggering from one of its worst economic crises.
The decision to explore limited or scaled-advice options stemmed from demand by the company's bank customers for Bendigo and Adelaide Bank's low-cost super offering, SmartStart Super, Tullio said.
UBS AG’s Global Family Office division aims to begin serving 25 clients in Asia this year, with assets of at least $200 million each, Amy Lo, managing director and head of ultra-high net worth, Asia-Pacific, told journalists in Singapore today.
Deposits in foreign banks, paintings, sculptures and expensive watches may come under the wealth tax net as part of the government's drive to unearth black money.
The new study finds that the rapid growth of the number of ultra-high net worth individuals in Asia – with for example, China having the second highest concentration of billionaires in the world— coupled with the upcoming intergenerational tra