Hong Kong / Bloomberg Hong Kong’s High Court ruled against Oversea-Chinese Banking Corp.’s (OCBC) private bank in a mis-selling case, saying the unit and a relationship manager had breached their contractual duty towards an elderly couple who lost money on investments made with ING Asia Private Bank. In a court judgment dated Aug. 8, the court said Bank of ...

  Manila / Bloomberg The Philippine central bank approved a significant increase in the amount of foreign exchange that companies and individuals can buy without documentation in what analysts say is a bid to reduce the number of black market currency trades. The Bangko Sentral ng Pilipinas said in a statement that from September 15, the amount of foreign exchange ...

  Bloomberg Crime writers and Hollywood producers take note: Secret Swiss bank accounts aren’t so secret anymore. Switzerland’s reputation for tight-lipped discretion made it a magnet for money from dictators and tax dodgers, along with the fictional assassin Jason Bourne. Now whistleblowers and a crackdown after the 2008 financial crisis are creating a world less tolerant of offshore havens. That’s ...