Oversea-Chinese Banking Corp. plans to expand its wealth-management staff in Hong Kong by 30% this year in response to growing clients’ demand for investments and financing. Singapore’s second-largest lender will add between 30 and 50 relationship managers in the city as income from the wealth business there is set to rise five-fold since 2023, according to Josephine Lee , OCBC’s head of Hong Kong...
Oversea-Chinese Banking Corp. plans to expand its wealth-management staff in Hong Kong by 30% this year in response to growing clients’ demand for investments and financing. Singapore’s second-largest lender will add between 30 and 50 relationship managers in the city as income from the wealth business there is set to rise five-fold since 2023, according to Josephine Lee , OCBC’s head of Hong Kong consumer financial services. A new category of services targeting those with at least $1 million is being added this year too, she said at a briefing. OCBC’s services for rich clients has been helping to drive profit, with its first-quarter earnings beating estimates after fees related to wealth services surged. In Hong Kong, demand for wealth accounts has grown from customers both inside and outside of the jurisdiction who are seeking products including financing, Lee said. “We have to scale up our RMs to best serve them,” Lee said. Greater China, which includes Hong Kong, accounted for 23% of the bank’s operating profit in the first quarter, the second biggest contributor after Singapore. This was slightly more than the same period a year ago. Read More: Singapore Banks Reap Gains From Country’s Rise as Wealth Hub
The Reserve Bank of India raised trading targets for the country’s bond market makers in a bid to boost liquidity, driving a surge in activity in the 10-year benchmark security, according to people familiar with the development. Each of the 21 primary dealers must trade at least 4 trillion rupees ($41.8 billion) of bonds in the financial year starting April, up 48% from last year’s target, the peo...
The Reserve Bank of India raised trading targets for the country’s bond market makers in a bid to boost liquidity, driving a surge in activity in the 10-year benchmark security, according to people familiar with the development. Each of the 21 primary dealers must trade at least 4 trillion rupees ($41.8 billion) of bonds in the financial year starting April, up 48% from last year’s target, the people said, asking not to be identified as the matter is private. The RBI notified primary dealers of the targets in writing, the people said. The higher quotas are already feeding through to market activity. Daily trading volumes in the 10-year bond — the nation’s most liquid debt security — jumped 40% since April compared with March, data compiled by Bloomberg show. Total bond trading rose 15% over the same period. The move underscores the RBI’s push to deepen liquidity in sovereign debt, a priority Governor Sanjay Malhotra highlighted this month. That may keep volumes elevated through the year, helping cushion the market as investors contend with volatility from swings in the rupee and global oil prices. India Considers Reducing Taxes on Bond Investments by Foreigners India Is Said to Plan New Platform for Bond Derivative Trades The central bank sets these goals for primary dealers at the start of April as part of its operational guidelines. They are determined as a percentage of average trading volumes over the previous three years. A spokesperson for the RBI did not respond to request for comment. The Primary Dealers’ Association of India didn’t immediately reply to an emailed request for a comment.
(Bloomberg) -- Alphabet Inc. sold ¥576.5 billion ($3.6 billion) of bonds in the biggest ever yen deal by a non-Japanese company as competition to fund data centers and AI infrastructure intensifies.Most Read from BloombergHormuz Oil Flows Creep Higher as More Supertankers ExitIran’s Kharg Island Oil Jetties Empty Again Yesterday, Satellite ShowsWhat Is The Thucydides Trap and Why Did Xi Raise It W...
(Bloomberg) -- Alphabet Inc. sold ¥576.5 billion ($3.6 billion) of bonds in the biggest ever yen deal by a non-Japanese company as competition to fund data centers and AI infrastructure intensifies.Most Read from BloombergHormuz Oil Flows Creep Higher as More Supertankers ExitIran’s Kharg Island Oil Jetties Empty Again Yesterday, Satellite ShowsWhat Is The Thucydides Trap and Why Did Xi Raise It With Trump?Xi Tells US CEOs on Trump Visit That China Will Open Up MoreTrump Says China Offered Help
From Nike Mind, with its pre-game benefits, to recovery shoes from Hoka, bulbous sporty footwear is moving into fashionable circles. Will we see it beyond the jogging track this summer? • Don’t get Fashion Statement delivered to your inbox? Sign up here When the much-hyped Nike Mind shoes were released in January, I bought a pair. I was grabbed by the idea that the orange nodules on the sole could...
From Nike Mind, with its pre-game benefits, to recovery shoes from Hoka, bulbous sporty footwear is moving into fashionable circles. Will we see it beyond the jogging track this summer? • Don’t get Fashion Statement delivered to your inbox? Sign up here When the much-hyped Nike Mind shoes were released in January, I bought a pair. I was grabbed by the idea that the orange nodules on the sole could , supposedly, focus the mind. The futuristic look of the shoe also appeals. If walking on knobbly things took a bit of getting used to, it was worth it – if only for that irresistible fashion smugness of having something rare. In the last week, I have been stopped in the street and asked where I got the shoes. It turns out they are now out of stock and have sold for over £300 on resale site Goat. The Mind is part of a wider trend in “exercise slides”, a pre-game shoe designed to ground you ahead of your chosen activity. Nike claim that the 22 nodules on the sole stimulate the mechanoreceptors on your feet, engaging the sensory area of your brain, meaning focus is heightened. Meanwhile, recovery slides made by brands such as Hoka and Oofos use cushioned soles and a shape that cradles the foot to helpfight foot fatigue after a lot of exercise. The Mind are worn by footballers including Erling Haaland and Reece James, runner Keely Hodgkinson and basketball players Victor Wembanyama and A’ja Wilson, while ballerina Francesca Hayward namechecks Hoka’s slides as part of her daily routine. Continue reading...
A battered economy, huge numbers of casualties and very little territorial gain – it’s no wonder even stalwart Putin supporters are showing signs of disquiet Rajan Menon is professor emeritus of international relations at Powell School, City University of New York On 9 May, Russia held its iconic annual Victory Day parade to honour the sacrifices of its soldiers and civilians during its four-year ...
A battered economy, huge numbers of casualties and very little territorial gain – it’s no wonder even stalwart Putin supporters are showing signs of disquiet Rajan Menon is professor emeritus of international relations at Powell School, City University of New York On 9 May, Russia held its iconic annual Victory Day parade to honour the sacrifices of its soldiers and civilians during its four-year war against Nazi Germany. When the president, Vladimir Putin, invaded Ukraine on 24 February 2022, he didn’t anticipate a fight that would last longer than the Red Army’s epic struggle against the Wehrmacht. But his war drags on. Worse, it’s failing and threatening his grip on power. Despite Putin’s boasts about Russian troops advancing on every front, even pro-war military bloggers are criticising military mismanagement . Some say the momentum favours Ukraine and at least one warns that Russia could lose . With the frontline stalled, an estimated 1.3 million Russian troops dead or wounded, and ordinary Russians under increasing economic pressure, the war Putin believed would produce his crowning achievement may prove to be his undoing. Rajan Menon is professor emeritus of international relations at Powell School, City University of New York, and senior research fellow at Columbia University’s Saltzman Institute of War and Peace Studies Continue reading...
Philip Morris claimed it wanted to end cigarette sales, but experts and campaigners say new promotions seem designed to attract younger consumers Anti-tobacco campaigners have condemned a global advertising campaign for Marlboro by Philip Morris International (PMI), saying the company is being duplicitous in claiming it wants to end cigarette sales. The “I AM Marlboro” campaign – which experts on ...
Philip Morris claimed it wanted to end cigarette sales, but experts and campaigners say new promotions seem designed to attract younger consumers Anti-tobacco campaigners have condemned a global advertising campaign for Marlboro by Philip Morris International (PMI), saying the company is being duplicitous in claiming it wants to end cigarette sales. The “I AM Marlboro” campaign – which experts on the tobacco industry said appeared designed to attract young people – includes billboards, TV ads and online content. Continue reading...
Bring a taste of Thailand into your home with sweet, creamy, sticky coconut rice served with fragrant mango Known as khao niao mamuang , this sweet, creamy coconut rice with ripe mango is one of Thailand’s most beloved desserts. The rice used is sweet glutinous rice, which is sometimes labelled sticky rice – a short-grain variety that turns tender, glossy and slightly chewy when steamed. Folded th...
Bring a taste of Thailand into your home with sweet, creamy, sticky coconut rice served with fragrant mango Known as khao niao mamuang , this sweet, creamy coconut rice with ripe mango is one of Thailand’s most beloved desserts. The rice used is sweet glutinous rice, which is sometimes labelled sticky rice – a short-grain variety that turns tender, glossy and slightly chewy when steamed. Folded through warm coconut milk and served with slices of fragrant mango, it’s a simple but beautiful pudding. Don’t forget the salt, though; it is essential to balance the richness. Serve warm or at room temperature. Continue reading...
Study of samples from seven winters suggests neurotoxic metal coming from wood itself rather than old paint Wood heating is reintroducing lead into the air of local communities and homes, a systematic investigation by academics has found. Overwhelming evidence of lead’s neurotoxicity meant the metal was banned as an additive in petrol more than 25 years ago. The research by academics from the Univ...
Study of samples from seven winters suggests neurotoxic metal coming from wood itself rather than old paint Wood heating is reintroducing lead into the air of local communities and homes, a systematic investigation by academics has found. Overwhelming evidence of lead’s neurotoxicity meant the metal was banned as an additive in petrol more than 25 years ago. The research by academics from the University of Massachusetts Amherst began by analysing samples of particle pollution from five suburban and rural towns in the north-east US. They looked for tiny particles of potassium that are given off when wood is burned and also particles containing lead. Continue reading...
The political editor, Tom McIlroy , and the economics editor, Patrick Commins , speak with Jim Chalmers about the criticisms that his ‘reforming’ and ‘ambitious’ budget, while historic, stands to benefit only a relatively small number of Australians. The treasurer also explains why the budget didn’t include an increase in tax for gas exports, and how this government is putting forward an economic ...
The political editor, Tom McIlroy , and the economics editor, Patrick Commins , speak with Jim Chalmers about the criticisms that his ‘reforming’ and ‘ambitious’ budget, while historic, stands to benefit only a relatively small number of Australians. The treasurer also explains why the budget didn’t include an increase in tax for gas exports, and how this government is putting forward an economic strategy to address the anxieties that lead voters to turn to populism on the right Read more: Continue reading...