Retail News CRM

Author: Mei Ling Tan

  • Binance Shuts Futures Accounts in Hong Kong

    Binance Shuts Futures Accounts in Hong Kong

    The world’s largest crypto exchange Binance said it would no longer allow new users to open futures accounts in Hong Kong, following warnings issued by the city’s regulators.

    Existing users will have a 90-day period to close their positions, Binance said, and no new positions thereafter can be opened.

    As the market leader, Binance constantly evaluates its product and service offerings,» the firm said in an announcement, adding that it was the first major firm to proactively restrict access to crypto-linked derivatives. We will be restricting Hong Kong users in respect of derivatives products (including all futures, options, margin products and leveraged tokens) in line with our commitment to compliance.

    The latest move follows a warning issued by the Securities and Futures Commission in July stating that the cryptocurrency exchange was not licensed or registered to offer securities.

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  • DBS Reports Progress on Digital Exchange

    DBS Reports Progress on Digital Exchange

    The Singapore bank, one of the first traditional lenders in the region to launch its own digital exchange, now has S$100 million in digital assets in custody.

    I’m quite pleased, it is going quite well,» chief executive Piyush Gupta said on Tuesday during a briefing with analysts after presenting the bank’s second-quarter 2021 financial results, Blockworks reported.

    The exchange – DDEx – now has around 400 clients and did around $133 million in transactions during the quarter, Gupta said. Its assets under custody are also up 60 percent since May, when it had an investor base of 120 clients and some S$80 million in digital assets under custody.

    At the same time, Gupta said his target was to grow the digital exchange’s investor base to about 1,000 customers this year, adding that he expects the volume to pick up once the exchange extends its trading hours past the Singapore business day.

    DDEx launched in December 2020 with an initial offering that covered cryptocurrency trading of bitcoin, ether, bitcoin cash, and XRP, now expanded to include digital stocks and bonds. In May 2021, the bank launched a crypto trust offering that combined wealth planning services with emerging digital currencies.

    Overall, the bank posted a record-high profit of S$3.71 billion ($2.75 billion) for the first half of 2021, marking 54 percent year-on-year growth.

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  • TikTok is now the world’s most downloaded app

    TikTok is now the world’s most downloaded app

    According to a global analysis compiled by Nikkei, TikTok has officially overtaken Facebook, Instagram, WhatsApp, and every other messaging platform to become the most downloaded social media app in the world.

    Until 2021, Facebook had held that title—unsurprisingly, as it has somehow managed to keep growing over the years up to a current accumulated net worth of over one thousand billion. TikTok has proven to be something of a dark horse behind the scenes, however, growing around the world at an unprecedented rate until it’s taken over social media—and most of Gen Z’s free time.

    While YouTube has also been changing the video scene over time, with the most popular videos currently stretching around ten minutes—miles shorter than traditional TV or video entertainment—TikTok has been paving the way for something completely new: very quick, snappy videos averaging between nine to fifteen seconds.

    In the beginning, most TikToks were quick, funny clips aimed at making you smile or laugh, something akin to Vine when it peaked in 2014 before it passed into oblivion. TikTok isn’t showing signs of dying anytime soon, though, and its style has expanded to include educational clips, life hacks, mini cooking tutorials, and much more.

    The possibilities have become endless, and thousands of businesses have taken advantage to advertise their products or services as well as provide entertainment.

    TikTok has even been inspiring other platforms to mimic its style, after seeing its popularity boom—such as Instagram Reels, or YouTube Shorts. Both of these have been pushed as additional short-video platforms alongside the main platform, which provide a refreshing alternative to the regular content most established influencers or YouTubers are used to posting and consuming.

    Instagram Reels is different from Instagram Stories, shown in their very own niche corner in the app, and YouTube Shorts can be found on the Shorts Shelf right near the top of the home page.

    For a while last year, we didn’t really think TikTok was going to make it in the US, after Trump had threatened to eradicate the app from the United States due to a claimed national security risk. Things didn’t quite work out the way Trump had hoped, though, and although new app downloads were banned for a while, Biden signed an executive order this year revoking all bans on both Tiktok and WeChat (another Chinese messaging app targeted by Trump).

    The pandemic served to provide a massive boost to TikTok’s popularity, as not only were most people stuck at home with limited means of entertainment, but also because many famous artists were forced to cancel shows and tours, and decided to take to this platform (and others) instead.

    I enjoy videos by artists who aren’t performing live anymore because of the pandemic. —Nina, 37, from Portland

    Interestingly, TikTok has never touted any particular safety features, and many still harbor concerns that their data may be compromised. However, that doesn’t seem to have impacted the app’s fame in the least, in spite of other apps like WhatsApp working hard to stay above competing platforms in terms of maximal data encryption and privacy. Apparently, if an app is entertaining enough, privacy concerns take a back seat for many users.

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  • StanChart to Launch Green Branch

    StanChart to Launch Green Branch

    Standard Chartered is planning to open a green branch in Hong Kong as part of its ongoing push for sustainable finance.

    The new branch will be fully paperless and offer a wide range of green banking products, according to Standard Chartered’s Hong Kong chief executive Mary Huen during a media briefing.

    Funds held in green deposits will only be used to finance projects that help reduce pollution, such as renewable energy installations.

    Standard Chartered’s green branch launch is in line with China’s climate change ambitions with Beijing pledging last year to achieve carbon neutrality by 2060.

    In June, the Hong Kong Monetary Authority also said it would allocate more to stocks and bonds that consider environmental, social, and governance (ESG) factors.

    With the promotion by the governments and the strong demand of customers, we believe in the huge opportunities arising from green finance businesses such as green bonds, green loans and green deposits. This is why we believe it would be a good idea to have a green branch,» Huen said. «The green branch concept will hopefully help to bring awareness that companies and individuals can help to contribute to sustainability.

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  • Four things to check once you start searching for a new online bookmaker

    Four things to check once you start searching for a new online bookmaker

    People who bet on sports usually choose one option because it allows them to learn everything about it. However, some users prefer to punt on many things, which is why most online sports betting websites give their clients the chance to choose from every sport in the world. Needless to say, this makes choosing a new bookmaker easier said than done.

    Since some players might have difficulties choosing the best betting site, we’ve decided to point out several things to look out for. Users who follow them should be able to find the thing they are interested in fairly quickly.

    1. Check its rating 

    One of the things that people forget to do when choosing a new gambling website is to check its rating. After visiting Nostrabet, we found the hall of the bookmakers where you have a table that allows you to pick one of them, and interestingly, each site had its own rating. This makes it easy to choose the most appropriate option because the rating will show you what people think about the given brand. The fact that many users like a specific gambling website means that it probably offers high-quality products.

    1. Look at the available betting markets

    After checking the rating, it is time to visit each online bookmaker individually before choosing the right one. Once you enter the sportsbooks and go over the available options, choose some of the more popular sports and check the number of markets. Depending on the gambling platform, you may find hundreds of pre-match and live betting markets for some of the sports, such as football and basketball. Naturally, you won’t have access to that many options if you are interested in things like badminton, eSports, boxing, and so on.

    1. Try to learn about the minimum and maximum bet requirements

    Although having access to loads of sports and markets is great, you also have to check each gambling operator’s minimum and maximum bet requirements. Once you visit Nostrabet and check the list of bookmakers, pick the one you like the most and head over to the Terms and Conditions.

    It will probably take you a couple of minutes, but it is definitely worth it because you will learn the site’s minimum and maximum bet requirements. Those rules are extremely important because some brands have high minimum conditions. As a result, you might spend a lot more money than you’ve anticipated.

     

    1. Make sure there are enough betting features

    Another thing that plays an important role when choosing a new gambling website is the betting features. People who like sports will have the chance to choose from different kinds of betting options that will let them watch live sports events, settle their bets, change their odds, and much more.

    The majority of bookmakers offer plenty of things to pick from, but some brands go one step further and add unique options. Therefore, check all of the features before you start betting and decide which one you need.

     

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  • How do professional casino players find the best gambling websites?

    How do professional casino players find the best gambling websites?

    People who like casino games can be divided into two big groups. Gamblers who belong to the first group play slots, table games, poker, and other kinds of casino games because it is fun and they want to experience something new. Most of the time, they choose one of the many online casinos, complete the registration process, and use its services until they get bored.

    On the other hand, people who belong to the second group of players are known for their professional approach. They play casino games because they want to win as much as possible. Hence, they are looking for specific things when choosing a gambling website. Since most professional betting websites are way better than their alternatives, we’ve decided to point out a few things that you can use to find some of the best online casinos in the world.

    Always try to learn as much information as you can about the website’s background

    One of the key things that can make a difference when choosing a new online casino is the site’s background. This might not seem important at first, but it can indicate whether a given gambling platform is worth it. The bad news is that learning additional info about a specific operator takes a lot of time. Fortunately, users who visit Silentbet from here will have the chance to learn more about each top casino before opening an account. This information will come in handy because it will give you an overall idea of what you can expect from the given site.

    Generally speaking, it is not a good idea to choose a gambling website that does not have any previous experience. While it is true that there are some exceptions, most top-rated online casinos have many years of iGaming experience.

    Most pro players choose brands that have an affiliate program

    Many people visit Silentbet because the reviews there show them whether a given gambling website has an affiliate section. Despite the fact that this thing does not have a direct impact on your betting experience, it is a clear indication that the platform is good because it is willing to reward those that promote its services. As you can probably guess, it won’t offer those things unless it is confident in the products it offers.

    It should be noted that most top online casinos are a part of larger affiliate firms that consist of several gambling brands. This explains why the commissions and the marketing tool are usually the same.

    They make sure that every brand offers a fast payout process

    Even though some users never check the payment sections, this is one of the things that will indicate whether the given gambling operator is as good as it claims it is. Professional casino players only choose reputable companies that allow fast payouts processes. This means that they can withdraw their winnings within minutes, regardless of which payment option they use. This includes e-wallet, digital currencies, and more.

     

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  • ICICI Bank asks customers not to use foreign payments for digital assets

    ICICI Bank asks customers not to use foreign payments for digital assets

    The buzz around the new crypto regulatory framework has been ongoing in India for some time now. While the Parliament is unlikely to discuss the bill this month, one of the largest private lenders in India, ICICI Bank recently issued a statement asking its customers to not use foreign payment solutions to invest in digital assets.

    This marks another step of the bank in its crackdown towards crypto trading. The updated remittance application of the bank includes a new declaration that remittance should not be used by customers to invest in virtual assets or purchase them.

    Due to the recent developments, those who want to transfer funds out of the country now need to sign the declaration. The new declaration presented to Indians now also prevents residents from using the money that came from crypto investments for sending overseas.

    Recently, the central bank of the country announced that the lenders were not able to deny services to crypto exchanges and traders according to the crypto trading ban, which was enacted in April 2018. However, many of the lenders in the country have suspended net banking services for those using cryptocurrency transactions.

    Indian crypto trading laws

    The regulatory uncertainty of the crypto trading market has been discussed for some time in India. However, uncertainty is expected to continue for some time in the future as well. It was reported recently that the much anticipated crypto trading bill in the country is not likely to be discussed by the Parliament in its coming session starting the following week.

    The crypto bill is not listed as one of the topics that could be up for discussion during the Parliament “Monsoon” session. The main reason for this is that the government of the country still has not found a way to approach the digital currency market.

    At the beginning of July, the Finance Minister of India, Nirmala Sitharaman talked about the crypto market in the country, indicating that the authorities still needed to approve the bill before it could be taken forward to the Parliament.

    There might be several reasons behind the cabinet’s not-yet-facilitated approval. The first reason is that the cabinet simply did not have enough time to review the bill, while the second reason might be the fact that the bill was sent back to the Ministry of Finance for revision.

    Some experts in the local crypto trading market claim that the government of the country and the Reserve Bank might have different views on how to approach the crypto and crypto trading market. A few months back, it was reported that the government was thinking of creating a new panel to study crypto regulations and the possibilities that the country had.

    Some of the government members believe that the views of the former Finance Secretary were outdated and the market needs a new look and view that might be used to regulate the market rather than ban it.

    Importance of regulations

    Interest in the crypto trading market among Indian investors has been increasing for some time now. The younger tech-savvy generation of the country is very interested in the crypto trading market, and the development of a well-thought-out regulatory framework is very important for the country.

    However, the authorities tend to be avoiding further discussions of crypto trading on a legal level. Whatever the reason is, this is affecting the local market a lot. A well-developed crypto regulation tailored to the protection of Indian traders is what the country needs right now.

    While the crypto trading market is becoming more and more popular around the world, many of the local investors are staying left out of the developments around the world.

    Trading bots & increasing popularity

    There are numerous opportunities that the crypto trading market offers to investors, experienced and beginner traders alike. The rise of crypto trading bots has made the market even more accessible around the world.

    Tools like Bitsgap trading bot and similar are a profitable opportunity for traders globally to invest in the market and generate higher profits. The crypto trading bot created by Bitsgap is known for its high level of security and safety.

    Bitsgap trading bot offers traders the ability to make crypto trading a lot easier. With this trading bot, investors can analyze the ongoing events in the market in a matter of minutes, making trading cryptocurrencies a lot easier. But there is much more that this trading bot has to offer. Bitsgap is also capable of opening and closing positions on its own, without the intervention of traders. This makes it a very comfortable trading bot to use.

     

    It uses very high standards of safety and security when it comes to investing in the crypto trading market. This includes two-factor verification and complex password support. The company also works very hard to ensure the privacy of traders.

     

    Traders are the ones who get to decide all the settings for their API keys, which ensures using the Bitsgap platform to its full potential. In addition, the API keys are always hidden in an encrypted format.

    As the market continues to grow around the world to new heights, Indian authorities are still having a hard time finding a way to regulate the market. Although the recent steps taken by the government seemed to be positive, it is still very hard to say what the authorities are aiming to do.

     

  • Tips & Tricks for choosing the best betting website in Australia

    Tips & Tricks for choosing the best betting website in Australia

    Australia is one of the most beautiful countries in the world that has loads of sports fans. People who live there watch all kinds of things, including soccer, rugby, and tennis. In fact, the country is home to one of the biggest tennis tournaments of the year – the Australian Open.

    Needless to say, many people who watch sports there also like to place bets. That’s why the country is also home to numerous gambling websites, some of which are also available in other countries. Choosing the best website requires you to have some experience in the iGaming industry because most of them look the same. Needless to say, most people reading this probably don’t know what to look for, which is why we’ve decided to point out a few tips and tricks.

    Try to see if the given website is available in your region

    Even though Australia is not the most populated country globally, it is pretty big when it comes down to its territory. That’s why it is advisable to visit Efirbet and check the new list of the most trusted betting sites for Australia, where you will find loads of options, most of which are available throughout the country.

    Since Australia is so big, some places have local laws which might not allow certain gambling websites. Sadly, this is a common problem that you might have to deal with, especially if you live in some parts of the country. Consequently, you might not have the chance to use the gambling website you like.

    Find a gambling brand that allows you to use AUD

    One of the common problems that bettors from Australia might face is having to use different currencies. Even though online betting is popular within the country, most gambling websites do not support AUD (the local currency). As a result, Australian bettors have to use EUR, USD, GBP, etc., which is not always a good idea because they might be forced to pay fees on each transaction.

    Fortunately, Efirebet’s list of trusted betting websites for Australia contains betting sites that support AUD. This means that you no longer have to worry each time you have to make a deposit or withdraw your winnings. Besides the currency, most gambling sites that focus on the Australian markets allow clients to make fast payments using the popular deposit and withdrawal options.

    Pay special attention to the bonuses for Australian players

    Even though many Australian players like using betting bonuses, some gambling websites won’t always give them the chance to claim a welcome promo or any other offers. In fact, some bookies explicitly forbid Australian players to take advantage of those things.

    The good news is that you don’t have to worry about this if you choose one of the gambling platforms that pay a lot of attention to Australian customers. Every promotion found on those websites is available to bettors from the country, regardless if they are new or registered customers.

     

  • Qualcomm Tops Magna’s Bid With $4.6 Billion Offer For Veoneer

    Qualcomm Tops Magna’s Bid With $4.6 Billion Offer For Veoneer

    Chipmaker Qualcomm Inc said on Thursday it had offered to buy Swedish auto parts maker Veoneer Inc for $4.6 billion, an 18.4% premium to a bid by Canada’s Magna International Inc that was accepted by Veoneer’s board. U.S.-listed shares of Veoneer rose 21.7% in premarket trading as the stage was set for a bidding war. Neither Magna or Veoneer made any immediate comment. Demand has been on the rise for advanced driver assistance systems, known in the industry as ADAS, that add features ranging from collision warning to parking assist. Some systems collect data from cameras and radar to monitor surroundings, interpret the situation and take action.

    Qualcomm, apart from powering mobile phones, has been a chip supplier to carmakers for a decade and last year started its own line of ADAS systems called Snapdragon Ride. Earlier this year it signed a signed a collaboration deal with Veoneer to develop a software and chip platform for driver-assistance systems. While fully self-driving vehicles are years away, assisted-driving features, such as adaptive cruise control, are being fitted into new cars by most manufacturers.

    Qualcomm hopes to grow its automotive chips business by creating open and competitive platforms for automakers along with Veoneer. “As the automotive industry continues to transform, it is becoming increasingly important for automakers to have a partner who develops horizontal platforms that drive innovation and enable competition,” said Qualcomm CEO Cristiano Amon.

    Magna has a similar interest in buying Veoneer as it tries to compete with ADAS makers such as Aptiv, Bosch and Continental to capture a larger share of the booming business. The Canadian company had offered to buy rival Veoneer in July for about $3.8 billion in cash.

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  • Delivery companies miss out on demand surge amid stay-at-home orders

    Delivery companies miss out on demand surge amid stay-at-home orders

    Delivery companies are unable to capitalize on rising demand since drivers are not keen amid mobility restrictions and delayed vaccination. Hung, a shipper in Hanoi, has shut down his driver’s app for over a week now after the city imposed travel restrictions.

    Through his company, AhaMove, does provide paperwork for the 22-year-old to pass through checkpoints set up to discourage people from coming out into the streets, he is concerned about contracting Covid and spreading it at home.

    “It is difficult financially, but since I do not know when I’ll be vaccinated, I’d rather stay at home for safety,” he said.

    Nghia, who works for Grab, does not have the liberty to make that choice since the city does not allow his company to operate.

    Hanoi allows delivery people from supermarkets, e-commerce platforms and postal services but not from ride-hailing companies like Grab, Be Gojek, MyGo, and FastGo.

    “It is unfair. Three or four trips a day would help me earn enough for food, but we cannot do anything but wait.”

    The shortage of drivers and ambiguous and inequitable regulations mean delivery companies are unable to take advantage of the surging demand amid the lockdowns in Hanoi and HCMC.

    AhaMove reported a tenfold rise in the number of orders after the lockdown began, but it cannot accept much of them since its drivers are not allowed past checkpoints. Hanoi does not allow delivery of “non-essential” goods.

    “Many shippers refrain from working since they have to pay for their own Covid-19 tests,” Tuoi Tre newspaper quoted Phan Tuong Bach, operating director of AhaMove, as saying.

    In HCMC, there are times when the number of orders is triple the normal rate, but a driver shortage means they could not be accepted, he said.

    There is also confusion occasionally as authorities in Hanoi and HCMC abruptly change regulations catching delivery companies unawares.

    AhaMove last week had to apologize to its drivers and customers in HCMC after some of its drivers were fined for delivering goods after 6 p.m. amid a ban on people leaving their homes at night.

    Startup Loship is facing similar difficulties as many of its drivers had stopped working.

    CEO Nguyen Hoang Trung said working conditions have become extremely difficult for delivery people because of lack of clarity on what constitute essential goods.

    The company has doubled the minimum income in the hope of attracting more drivers back to work.

    Be Group saw orders rise tenfold in mid-July but had to suspend operations two weeks later to keep its drivers safe.

    Ride-hailing giant Grab asked to be allowed to deliver food, saying Hanoi’s suspension of its services while allowing other delivery companies to operate goes against its policy on fair competition. But its demand has yet to be approved.

    HCMC has had strict social distancing regulations since July 9, and they will continue until August 16. Its Covid-19 tally now is more than 112,000.

    Hanoi is in the 14th day of a 15-day social distancing campaign. The city has had nearly 1,800 cases.

  • Microsoft Teams will be getting a helpful search feature named ‘Top Hits’ soon

    Microsoft Teams will be getting a helpful search feature named ‘Top Hits’ soon

    Microsoft has been working hard on improving its chat and collaboration app Teams since last year when many people were forced to work from home. Alongside many improvements and new features, there’s one improvement set to make users’ lives way easier. Microsoft Teams will be updating its search.

    A new entry to the Microsoft 365 Roadmap has now been published regarding the Microsoft Teams search functionality. According to the entry, the search experience on Teams will be improved by ‘Top Hits’ results that would be automatically generated.

    Microsoft stated that the new section will autosuggest the most relevant results across people, chats, files, and other content stored or shared in the app.

    The new feature is still under development, but it is expected to roll out to users by the end of this month.

    Microsoft has been investing a lot of effort into bringing new features to the Teams platform since the start of the pandemic. It has brought together video conferencing, file sharing, project management, and other features to Teams, further expanding its range of functionality.

    This expansion necessitates a better search functionality, though. Currently, the autosuggest in search provides a few possible results by type, and users can apply filters to them for a more specific search. However, the Top Hits section is expected to bring another layer of intelligence to the existing search options. This will make it easier to find exactly what you’re searching for on the first try, therefore reducing your search time and boosting your productivity.

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  • Garment firms fear order plunge

    Garment firms fear order plunge

    Vietnam, the world’s second-biggest garment exporter, is facing the risk of losing orders to competitors amid the complicated Covid-19 situation in August.

    Gia Dinh Group JSC in the southern province of Binh Duong has secured orders till the end of December, but face higher material prices plus late shipments, along with higher logistics costs. The company’s management board said if the pandemic prolongs, it would fail to fulfill its orders.

    Over 80 percent of garment and textile enterprises in the southern region have had to either lower labor productivity or suspend operations to combat the disease.

    Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), said production in August is “extremely difficult”, especially for firms in southern localities imposing social distancing. Up to 90 percent of production chains in the south have been broken.

    Meanwhile, only 70-80 percent of garment and textile companies in the northern region are still operating.

    Delivery pressure amid outbreaks is a big challenge for garment and textile enterprises now, he said, stating that if they fail to meet delivery deadlines, their customers would cancel orders, which will affect production both this year and the next.

    “If the Vietnamese market is not stable, partners will shift orders (to other countries). Garments are seasonal. Nobody wants to buy outdated clothes though they are on sale,” the VITAS chairman said.

    The Ministry of Industry and Trade also stated garment and textile enterprises in Vietnam are facing the risk of international clients postponing or canceling orders, and shifting their focus to other countries. “When the pandemic is controlled, it will be very difficult to resume business relations, and that will take time,” the ministry said.

    The VITAS chairman also mentioned the risk of labor shortages. Many workers have left Ho Chi Mih City for their hometowns to avoid being infected with the coronavirus, and only 60-65 percent may return to the city when the Covid-19 outbreak is pushed back, according to Giang. “There will be rather severe labor shortages in the coming time,” he predicted.

    Vietnam exported $18.6 billion worth of textile and garment products in the first seven months of this year, a year-on-year increase of 14.1 percent, according to the General Statistics Office.

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  • DBS Reports Progress on Digital Exchange

    DBS Reports Progress on Digital Exchange

    The Singapore bank, one of the first traditional lenders in the region to launch its own digital exchange, now has S$100 million in digital assets in custody.

    I’m quite pleased, it is going quite well,» chief executive Piyush Gupta said on Tuesday during a briefing with analysts after presenting the bank’s second-quarter 2021 financial results, Blockworks reported.

    The exchange – DDEx – now has around 400 clients and did around $133 million in transactions during the quarter, Gupta said. Its assets under custody are also up 60 percent since May, when it had an investor base of 120 clients and some S$80 million in digital assets under custody.

    At the same time, Gupta said his target was to grow the digital exchange’s investor base to about 1,000 customers this year, adding that he expects the volume to pick up once the exchange extends its trading hours past the Singapore business day.

    DDEx launched in December 2020 with an initial offering that covered cryptocurrency trading of bitcoin, ether, bitcoin cash and XRP, now expanded to include digital stocks and bonds. In May 2021, the bank launched a crypto trust offering that combined wealth planning services with emerging digital currencies.

    Overall, the bank posted a record-high profit of S$3.71 billion ($2.75 billion) for the first half of 2021, marking 54 percent year-on-year growth.

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  • Boutique Tasmanian distillery Battery Point releases first whisky

    Boutique Tasmanian distillery Battery Point releases first whisky

    For head distiller Jack Lark Whisky distilling runs in the blood but it’s the Battery Point Distillery teams’ patience, creativity and vision that he believes sets them apart, “We’re a small team and so we’re not rushing to get things out. Everything is by-hand and we refuse to cut corners – we will only release the best quality barrels and the best quality spirits.”

    Achieving this, however, has not been left to chance, “With whisky you aren’t reinventing the wheel – it’s still all made with the same three ingredients, but we really took our time over selecting the best of those ingredients.” Made using a specifically selected premium Tasmanian malt mash, a unique combination of yeast cultures and of course the purest 100% Tasmanian water, Battery Point whisky is combining traditional Scottish double-distillation methods with small cask and barrel finishing.

    This first release brings together port, sherry and bourbon small cask whiskies in a unique blend. It is then aged in an apple brandy barrel before being finished in a muscatel. It’s this creativity with flavour and barrel influence that sets Battery Point Distillery apart. Delivering a bold, full-bodied and rich drop this whisky promises layers of complexity without being overly demanding or complicated.

    As is intended with all future Battery Point offerings, this is a limited release of 200 bottles. Future small volume releases will be available when they are at their peak and ready – “we aren’t in a hurry and want to bottle the best quality we can” says Jack.

    The bottled look was designed to reflect the bold sophistication of the product. The packaging inspired by the detailing of the barrels that characterise the whisky, offers a confident and contemporary take on the traditional category, much like the whisky itself.

  • SFC Fines UBS Over Regulatory Breaches

    SFC Fines UBS Over Regulatory Breaches

    Hong Kong’s Securities and Futures Commission reprimanded and fined UBS over regulatory breaches covering various areas including transparency client suitability.

    The SFC fined UBS AG and UBS Securities Asia Limited HK$9.8 million ($1.26 million) and $1.75 million, respectively, over various regulatory breaches, according to a statement.

    The issues covered areas ranging from lacking disclosures to client suitability issues.

    The SFC’s probe found that UBS failed to make proper disclosure of its financial interest in some Hong Kong-listed companies covers in its research reports for 14 years, between May 2004 and May 2018.

    The failure was caused by multiple data feed logic errors in a legacy data source used by UBS for tracking its shareholding positions, the securities regulator said.

    The SFC also found that UBS failed to fulfill various processes across client suitability and sales.

    It said the Swiss bank, in various time periods, failed to obtain valid standing authorities from clients who were not qualified as professional investors; record client order instructions; fully assess client derivatives knowledge; and disclose the stop loss event feature in a structured note.

    The SFC considers that UBS failed to act with due skill and care and put in place adequate systems and controls to ensure compliance with the applicable regulatory requirements,» the regulator said in the statement.

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