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Insights
17-May-19 ICBC-AXA Life has opened a wholly-owned asset management subsidiary in Shanghai, making it the first insurance asset management JV in China after the government announced the further opening up of the insurance industry. [image: Asia Times]
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16-May-19 The Bangko Sentral ng Pilipinas reported a 6.6% increase in remittances sent by overseas Filipino workers in March 2019 over 2018. The growth pushed actual dollar inflow to the country to USD2.5 bn during that month alone. [image: Business Mirror]
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Insights
07-May-19 A day after India’s largest e-wallet Paytm entered the credit card business, local ride-hailing giant Ola is following suit. Ola inked a deal with state-run SBI and Visa to issue 10 mn credit cards in the next three years. [image: Techcrunch]
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02-May-19 Foreign remittances to Asian countries hit USD300 bn for the first time in 2018, underscoring the ever-rising importance of overseas employment for the region. Major recipients such as Pakistan and the Philippines have GDPs only slightly bigger than that. [image: World Bank staff estimates, World Development Indicators, IMF Balance of Payments Statistics / Asia Times]
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Insights
22-Apr-19 The wave of M&A in GCC financial services is needed to raise efficiencies and build the scale required to increase investments in financial technology, as payment solutions are increasingly enabled by fintech, according to Rishi Kapoor, co-CEO of Investcorp. [image: ADCB / Handout via Thomson Reuters Zawya]
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