Treasury

The idea is to harness the HKMA's Commercial Data Interchange to help improve access for SMEs to trade finance.

With more fast and cheap options in the region's payments universe, transaction banks must now layer added services to remain competitive.

The region could see almost 37% of the total global payments landscape, interoperability, digital wallets and QR codes are all likely to help the market grow from $12.8tn in 2024.

The loans have a limit of $23,000, don't need any collateral, and are up to three years.

Adnan Zaylan Mohamad Zahid, deputy governor at the Bank Negara Malaysia, told an audience at Money 20/20 Asia that Asean is innovating with cross-border payments, QR codes, Project Nexus, sandboxes and Islamic finance.

Phil Carmalt will start in the role at BofA on May 29 and will continue to be based in Hong Kong.

The so-called ‘BRICS Bridge’ project may have stalled, but efforts to undermine the primacy of the US dollar as the world’s reserve currency have received a boost from an unlikely source; although any path to a true alternative will be long and difficult.

DHL said it will temporarily suspend the collection and shipping of B2C shipments to the US where the declared customs value exceeds $800, while the Hongkong Post will suspend air mail containing goods from April 27, amid US customs changes.

The global economy is going through unprecedented times and expert panelists from Baguio Green Group, SF Reit Asset Management and HSBC discussed how to best manage the volatility.

The financing will support the Hong Kong property giant's general funding needs with the aim to tie with its sustainability and social initiatives.

Buyers are asking Bangladeshi exporters to share the additional tariff burden in a garment market which exports almost $9bn of products to the US annually; meanwhile the government wants to reduce barriers for US imports.

The Hong Kong government is supporting exporters with insurance and cash flow needs, with Donald Trump now, temporarily, exempting electronics from tariffs imposed on China and Hong Kong.