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China Citic bank offers Covid shots in HK to woo mainland cash

Bloomberg A Hong Kong unit of state-backed China Citic Bank Corp. is offering free Covid-19 mRNA vaccinations to sign up wealthy new customers as the border between the financial hub and mainland China reopened after three years of travel and quarantine restrictions. For customers who put in at least HK$4 million ($512,300) and sign up for a dual currency credit ...

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UBS sees wealth business boost as China reopens, looks to hire

  Bloomberg UBS group predicts an increase in business for its bank’s key wealth division in Asia this year after a difficult period last year and is looking to add talent, its Asia Pacific president said. “I think our wealth management will power away this year, because of what’s happening in China, opening up and creating a more positive outlook ...

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Sri Lanka’s banks should cancel debt: Academics

  Bloomberg Sri Lanka’s bondholders aren’t living up to their obligations and should cancel debt to allow the country to get out of its economic crisis, a group of international academics said in a letter. Private creditors own almost 40% of the country’s external debt, mostly in the form of International Sovereign Bonds, but higher interest rates mean they receive ...

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