AIA enters logistics real estate industry with new partnership


AIA Group has partnered with GLP to invest in various opportunities in the global logistics real estate industry.

According to AIA, the global logistics real estate sector is exhibiting positive long-term growth and will provide it with an opportunity to diversify its investment portfolio. The partnership will enable AIA to leverage GLP’s investment experience and expertise in this area.

The partnership is also in line with AIA’s environmental, social and governance (ESG) strategy, which includes engaging with companies such as GLP that also recognise and incorporate ESG-related considerations into their investment decisions.

“AIA believes in the strong fundamentals that support

Read More

Jamaica launches first version of Central Bank Digital Currency


Bank of Jamaica (BOJ) has announced the inaugural minting of Jamaica’s first batch of central bank digital currency (CBDC).

Jamaica launches Central Bank Digital Currency

A total of J$230 million dollars in CBDC will be issued to deposit-taking institutions and authorised payment service providers during the CBDC pilot exercise which ends in December.

BOJ’s CBDC team demonstrated the process of minting digital currency during the ceremony, and the very intricate but efficient process took place under the watchful eyes of Minister of Finance and the Public Service, Dr. The Hon. Nigel Clarke, BOJ Governor Richard Byles, members of BOJ’s

Read More

Klarna off rails? Losses increase as does regulatory scrutiny


Klarna’s losses increased significantly in Q2 as the BNPL company continued the pace of growth ahead of a possible IPO.

Klarna off rails?

Recently valued at $46 billion in an investment round led by Japan’s SoftBank, increased the volume of purchases it processed on behalf of retailers by two-thirds in Q2 to $20 billion.

But its operating losses soared from SKr89 million ($10 million) a year earlier to SKr965 million ($111 million) as credit losses more than doubled in Q2.

Klarna was one of the rare FinTechs to be consistently profitable in its first 14 years but has been lossmaking

Read More

Hong Kong financial regulators to require staff to be vaccinated


Hong Kong’s financial regulators will require that their staff get the COVID-19 vaccine or get tested every two weeks, in line with the city’s rule for its civil servants.

The Hong Kong Monetary Authority already implemented the measure earlier this month, while the Insurance Authority, the Financial Services Development Council, the Securities and Futures Commission and the Mandatory Provident Fund Schemes Authority announced that they are planning to follow suit soon, The Standard reported.

Christopher Hui Ching-yu, Hong Kong’s secretary for financial services and the treasury, said he was delighted that various financial regulators and advisory bodies are heeding the

Read More