Bloomberg Hong Kong’s traditional banks are set to face one of their biggest challenges yet: a new breed of financial technology firms estimated to snare as much as 30 percent of their revenue. The Hong Kong Monetary Authority has granted three virtual bank licenses and is processing five more, Deputy Chief Executive Arthur Yuen said in a briefing on Wednesday. ...

Bloomberg Malaysia lowered its economic growth forecast for 2019, and pledged to keep policy accommodative as global risks weigh on the trade-reliant economy. Gross domestic product is expected to increase 4.3 percent to 4.8 percent in 2019, with trade tensions and lower commodity prices among the biggest wildcards, Bank Negara Malaysia said in its annual report on Wednesday. The projection ...

Bloomberg Deutsche Bank AG has hired Siam Commercial Bank (SCB) Pcl’s Pimolpa Suntichok to head its business in Thailand, according to people with knowledge of the matter. She will join the German lender in May as chief country officer and head of the financing and solutions group for Thailand, one of the people said, asking not to be identified because ...