Aviva takes full control of Vietnam life company joint venture
Aviva’s life insurance joint venture in Vietnam has become a wholly-owned subsidiary after the UK insurer acquired the entire 50% share capital of its former partner, VietinBank.
Asia
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Joint ventures give fund managers best chance of China success
The path to success in China for foreign fund management companies lies in joint ventures with local firms, even though wholly foreign-owned enterprises (WFOE) can now launch investment products on the mainland, says Xianzhou Jiang, vice chairman and chief executive of China Construction Bank (Asia).
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Expat cities among the most expensive for rent
Hong Kong, Dubai and Singapore are some of the most expensive cities in the world when it comes to how much people have to earn to pay rent but they do not top the list, research from UK property selling start-up Nested has found.
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China’s top insurance regulator sacked for serious violations
The chairman of the China Insurance Regulatory Commission (CIRC) was removed from his post on Monday night for suspected “serious disciplinary violations”, a term covering abuses from graft to financial misconduct.
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Best and worst expat countries for high pay
The best places to earn a decent annual wage without having to work around the clock are in western Europe. Eastern Europe fared badly but Mexico ranked bottom, a recent report by ExpatFinder found.
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Old Mutual Int’l and AAM Advisory in court against IFS
Old Mutual International appeared as a defendant in Singapore’s supreme court alongside its local advice business AAM Advisory on Thursday.
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UBS AM launches cross border Hong Kong platform
UBS Asset Management has launched a Hong Kong mutual fund platform, setting sights on distribution into the onshore China market, said Markus Egloff, head of wholesale client coverage for Asia ex-Japan.
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Tighter rules loom for Chinese insurers amid corruption probe
China’s insurance regulator is looking to tighten its grip on the industry as one of its top officials faces a corruption inquiry into a wave of blockbuster global deals that are raising concerns about financial risk in the world’s second-largest economy.
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Mirae Asset launches Asia Pacific multi-asset fund
Mirae Asset Global Investments (HK) has launched a Luxembourg-domiciled Asia Pacific multi-asset income fund targeted to institutional investors and high-net-worth individuals.
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Coutts & Co fined HK$7m by Hong Kong Monetary Authority
The Hong Kong branch of Coutts & Co has been fined by the Hong Kong Monetary Authority (HKMA) for failing in its anti-money laundering (AML) and counter terrorist financing (CTF) checks.
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Three Brits arrested in Philippines over boiler room scam
Three British nationals allegedly involved in a investment scam have been arrested in the Philippines.
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Alibaba-backed robo-adviser Youyu launches in Hong Kong
Hong Kong-listed Yunfeng Financial Group’s has launched a direct-to-consumer robo-adviser Youyu.