Investors Weigh Extent of Sun Hung Kai Scandal Fallout

Barclays, which has an underweight position on the stock, downgraded its price target on the company to HK$87.50 ($11.25) from HK$92.16, warning that the shares could be vulnerable to heavier losses in the coming months. This represents a downside of abou


South Korea, Switzerland TIE Protocol Takes Effect

The Finance Ministry stated that it had been agreed to make it easier for the tax authorities in each country to request and obtain financial information, allowing for the disclosure of information on bank accounts believed to be operated by those of the


Ex-bank exec slapped with theft case

The Department of Justice approved the filing of 87 counts of qualified theft case against a former executive of Citibank for allegedly embezzling over P100 million of his client’s money.


Banks play cat-and-mouse with Beijing to comply with rules

This practice, which started last year, exaggerates the size and stability of banks' liquidity and masks any stresses on the country's financial system at a time when the world's second-biggest economy is expanding at the weakest pace since


Finance council 'won't spark turf wars'

That assurance was given by Laura Cha Shih May-lung, formerly with the China Securities Regulatory Commission, who was appointed by Chief Executive Leung Chun-ying to chair the preparatory work on the council.


Scammers take $113m from Australians

Home Affairs and Justice Minister Jason Clare said while the five-year, $113 million figure was alarming, the real toll was likely to be much higher as many victims were often too embarrassed to go to authorities.


Japan plans stiffer penalties for insider trading

Financial services minister Tadahiro Matsushita on Wednesday instructed an advisory panel of scholars and experts to review current regulations and propose new rules, including penalising those who pass on insider information.