Asia
China cuts and delays VAT levy on asset managers again
China has cut and again pushed back plans to levy a value-added tax on asset managers for returns on assets under management, adding a further six-month reprieve on an already 14-month grace period.
UAE ambassador to America linked to Malaysian 1MDB scandal
The UAE ambassador to the US has been caught up in the international scandal involving Malaysian sovereign wealth fund 1MDB, after reports that companies connected to him received millions of dollars allegedly stolen from the fund.
Asia Pacific insurers face widening investment return gap
Insurance companies across the Asia Pacific region face a growing gap between investment returns and meeting the promises made to customers, according to a survey released by Standard Life Investments (SLI).
China opens $9trn bond market to foreign investors
Foreign investors are now able to buy and sell Chinese bonds via Hong Kong after the country’s central bank approved its Bond Connect scheme, but no date has been set to allow investors in China to invest in foreign bonds.
DBS Bank opens free financial advice centre in Singapore
Singapore’s financial advice market just got more competitive after DBS opened a financial planning centre that offers free advisory services but does not sell any financial products.