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Several Chinese fintech firms have submitted a bid to the Monetary Authority of Singapore to operate a digital bank in the city-state. By the application deadline on Tuesday, Chinese firms that submitted bids for a digital banking license in Singapore…
A consortium led by Razer is the latest to join the race for one of Singapore’s five digital banking licenses. The consortium includes the Singapore supermarket giant owners’ – the Lim brothers – private vehicle Sheng Siong Holdings; Richard Li’s insurance…
Hong Kong’s banking history enters a new chapter with the launch of its first virtual lender, ZA Bank. ZA Bank, co-owned by ZhongAn Online P&C Insurance and Sinolink Group, launched yesterday to become the first virtual bank to kickstart services in Hong…
Uber submitted an appeal on Friday against a decision by London’s transport regulator to strip the taxi app of its right to operate in one its most important markets, setting up a potentially lengthy legal process during which it can continue to take rides.…
Jack Ma’s Ant Financial Services may apply for a virtual banking license in Singapore, potentially making a splash in the regional banking landscape. Ant Financial Services is the latest contender to enter the race for a digital banking license. Up to two…
Trump has placed Huawei on the Commerce Department’s “entity list” for national security reasons. Huawei has repeatedly stated that the US claims are not based on any proven evidence. Entities on the list are prohibited from purchasing American software and…
Maybank Singapore is considering to apply for one of the five digital banking licenses to be unveiled in Singapore. The final decision depends on having a value proposition. Maybank Singapore is in talks with its head office in Malaysia on the matter, and the…
Grab, Southeast Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the Southeast Asian city-state consider allowing online-only banks, four people with knowledge of the process said. Grab is close to hiring a…
The Australian Competition and Consumer Commission (ACCC) wants to enforce stronger conditions on the Australasian Performing Right Association (APRA), after questions have been raised about its transparency. The changes could lead to lower fees for…
Two prospective saviors of the HMV Hong Kong business have walked away after it became clear they would be unlikely to be allowed to use the historic brand name. A liquidation sale may now be held for stock stored since the retailer entered provisional…
As expected, the US Federal Communications Commission today voted to deny China Mobile’s application to provide telecom services between the US and foreign destinations. The vote was unanimous. China Mobile USA filed an application back in 2011 requesting…
Singapore may permit virtual banks to operate in the city-state, following in the footsteps of Hong Kong, said DBS chief executive. If virtual banking licenses were handed out in Singapore, it would step up the competitive pressures faced by incumbent…
Digital media conglomerate Yeah1 is set to lose 28 percent of future revenues after YouTube unilaterally terminated its content hosting agreement with it. The company’s financial statements for 2018 showed that activities connected to YouTube generated around…
The Indian government is reportedly planning to allocate spectrum to mobile operators for 5G trial services in June. A panel established to set the terms for 5G trials is expected to soon begin deliberations on the spectrum that will be allocated for the…
Vietnam’s largest telecommunications company Viettel has received a license to trial its 5G services. The trial is licensed for a period of one year until January 21 next year. Viettel is the first company in Vietnam to receive this license. The…
Vietnamese peer-to-peer delivery service XTayPro has been licensed in South Korea and expects this to be a stepping stone into East Asia. The app is a platform connecting people travelling by air with those who wish to buy or send products overseas. It…
