Asia
aig exits hk with sale of aia stake
US insurer AIG has sold its remaining 13.7% stake in AIA Group, finally exiting the business it founded in Hong Kong nearly a century ago.
standard chartered launches islamic platform
Standard Chartered Bank has launched an Islamic version of its online banking platform, Straight2Bank which will be offered in the United Arab Emirates, Bangladesh, Bahrain, Pakistan and Malaysia.
hsbce sells ping an stake to thai
HSBC Holdings is selling its entire stake in China’s Ping An Insurance (Group) of China to entities owned by Charoen Pokphand Group, in what was described as the bank’s largest divestment in more than 15 years.
hk trust laws reforms edge closer as govt
Hong Kong’s government has published the conclusions of a three-month consultation carried out earlier in the year to gauge industry views on plans to reform and modernise the special administrative region’s trust laws.
hk based intermediary fined 1 6m over lehman
The Hong Kong branch of a Taiwanese intermediary company has been fined US$1.6m (S$2m, 1.3m) over the sale of Lehman Brothers-backed structured products in 2008.