UBS cutting up to 10 percent of advisory arm

UBS is cutting back its investment banking division (IBD) representing between 5 and 10 percent of the jobs within the Swiss bank's advisory arm, several UBS bankers said.


Citi Singapore Chief Extols City-State's Virtues

Few economies felt the pain of the last financial crisis as much as Singapore. But the city-state bounced back sharply, and has lately gained traction as a regional and global leader in private banking and wealth management.


Tibet's first private banking service opens in Lhasa

It is the bank's 38th private banking center in China, filling a gap for the service in Tibet and aiming to serve the region's burgeoning private financial needs, said Han Wenzhen, president of the Tibet branch of the CCB.


HSBC lifts gold price forecast

HSBC and metals consultancy GFMS both said they see gold rising above $2,000 an ounce, citing high government debt levels and instability in the currency markets, even as spot prices slipped back below the $1,800 mark.


Need to narrow income gap

The key issue for China now is to focus on implementing bold, comprehensive reforms to rebalance wealth distribution