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  1. Mainland banks may soon manage pension funds

    Posted Jun 28th 2007, 12:00am by Tom Miller

    ... out a niche in the mainland market. Four foreign banks- ING, Deutsche Bank, Fortis Group and Bank of Montreal- have won licences to operate enterprise annuities. Spain's BBVA also hopes ... Tom Miller in Beijing Beijing is drawing up plans to allow mainland commercial banks to branch out into pension fund management, opening another channel for lenders to diversify, according ...

  2. Ping An, Merchants Bank to run Shenzhen pension fund

    Posted Feb 01st 2007, 12:00am by Staff Reporter

    ... a single body manage enterprise annuities, will transfer the agency's 2.3 billion yuan of assets to Ping An Insurance (Group) and China Merchants Bank to meet new requirements after the recent ... The assets consist of more than 850 company accounts covering 64,000 personal accounts. Ping An would act as the trustee and investment agency while Merchants Bank would be the custodian bank ...

  3. Local insurers seek exemption from US tax law

    Posted Jul 09th 2012, 12:00am

    ... The US Foreign Account Tax Compliance Act (FATCA), which will take effect from January, aims to prevent wealthy Americans from avoiding tax by requiring companies and banks to provide more detail ... of the Hong Kong Federation of Insurers' FACTA task force and chief executive of ING Hong Kong. Yong said the industry had written to US tax authorities demanding an exemption from the US tax law ...

  4. Comment - Insight & Opinion

    Asian must bank on the hopes of its youth

    Posted Aug 13th 2012, 12:00am by NOELEEN HEYZER

    ... Noeleen Heyzer says they need guidance towards meaningful employment and engagement in society Hopes of Asia's youth hold the promise of a more sustainable future for all The recent Rio+20 United Nations Conference on Sustainable Development focused ...

  5. Mainland revamps pension schemes

    Posted May 28th 2007, 12:00am by Staff Reporter

    ... of nearly US$12 billion. The World Bank estimates that will grow to US$1.8 trillion by the end of 2030, when it would be the world's third-largest scheme. This means the new pension market ... for custodian banks and 1.2 per cent for investment managers, while account managers have been set a five-yuan limit on each account. That means financial institutions will make revenue only on a scale ...

  6. Mainland insurers poised to emerge as 'champion' players

    Posted Feb 19th 2009, 12:00am by Staff Reporter

    ... the overseas expansion of the country's insurers after Ping An Insurance (Group) suffered a heavy loss investing in troubled Dutch-Belgian financial group Fortis. 'Some may question whether ... last year, but insurers are facing slowing business growth and shrinking investment returns. McKinsey said the low profitability of bancassurance- insurance products sold through banks ...

  7. Bank wants protesters removed

    Posted Jun 27th 2012, 12:00am

    ... Ada Lee and Austin Chiu Anti-bank protesters have been living in the space beneath HSBC's headquarters since last October. The bank has asked the courts to help it move them on. Yet ... are protesting against greed, corruption and economic issues. The Plaza belongs to the bank but in 1983 it was made into a public space. The bank says the protests make people feel uncomfortable, ...

  8. BBVA in talks on pension venture

    Posted Mar 16th 2012, 12:00am

    ... George Chen and Lulu Chen Spanish financial services group BBVA is mulling a pension fund joint venture with China Citic Bank, as it bids to strengthen relationships with its mainland partner. BBVA, which already operates a car-financing joint venture with the bank and helped it to launch a private banking unit, is in talks with Citic to develop a pension fund business, said ...

  9. China pension fund sells HK$153m in bank stocks

    Posted Feb 14th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com The National Social Security Fund has sold about HK$153 million worth of shares in Industrial and Commercial Bank of China and Bank of China, according ... the fund's stake in BOC to 9.99 per cent from 10.01 per cent and that in ICBC to 14.99 per cent from 15.01 per cent. It's not the first time the fund has sold shares in both banks. It sold BOC ...

  10. Asian investors top in financial literacy

    Posted Jan 25th 2011, 12:00am by Staff Reporter

    ... heavily in the capital markets because of mistakes by wealth managers. A survey by ING Investment suggests that 90 per cent of consumers around the world aspire to be better at managing ... of 10 countries where the survey was conducted. ING's survey was in the form of a Financial Intelligence 'FQ' test to measure consumers financial literacy and how this influences ...




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