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Hong Kong boasts the strongest institutional environment of any major financial hub but lags in growth and future readiness, according to a new index launched by New York University Abu Dhabi on Tuesday.The inaugural Financial Centres Competitiveness Index (FFCI), unveiled at Abu Dhabi Finance Week, ranked Hong Kong fourth overall, behind New York, London and Singapore.The index is built around two main criteria. On “footprint” – a measure that reflects the current scale and activity of financial centres – Hong Kong ranked third globally.But on “dynamics”, which tracks how these centres are evolving, the city slipped to 12th, according to…
The Australian dollar jumped in Asian trading on Tuesday to its highest level in three months against the US dollar, extending the strong rally that briefly paused yesterday as markets took a breather. The move reflects renewed demand for the Aussie, which traders currently view as one of the most attractive opportunities in the FX market. The buying momentum strengthened after the Reserve Bank of Australia left interest rates unchanged for a third consecutive meeting and warned that inflation risks remain tilted to the upside. Some analysts now believe the RBA may be forced to discuss a potential…
A recent seizure of more than S$30,000 (US$23,000) worth of Pokemon cards from a Singaporean at Changi Airport has led Malaysian authorities to caution that returning citizens would face the same issue.Singapore’s Immigration and Checkpoints Authority said in a social media post titled “Gotta catch them all!” – in a nod to the Pokemon catchphrase – that its officers at Changi Airport had detected a large quantity of assorted Pokemon trading cards, believed to be for collection and resale, while screening baggage on October 10.A 25-year-old Singaporean man was directed to the baggage screening area in Terminal 1 for screening…
Finance Minister Muhammad Aurangzeb on Tuesday said that Pakistan’s successful completion of key reviews under the International Monetary Fund (IMF) programme reflects the country’s strengthened economic position and resilience, despite challenges posed by recent devastating floods. In a statement released by the Finance Division, Aurangzeb acknowledged the cooperation of federal ministries, government bodies, county offices, senior secretaries, and provincial governments in advancing the government’s structural reform agenda and cooperation that contributed to the successful completion of the IMF’s second review under the Extended Fund Facility (EFF). Opening today’s meeting of the Economic Coordination Committee (ECC), the minister noted that this…
Premium Textile Mills Limited, a Pakistani textile firm, has announced plans to establish a wholly owned subsidiary in the United Arab Emirates (UAE). The listed company, engaged in the manufacturing and sale of cotton and polyester yarn, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. “It is hereby informed that the Board of Directors of Premium Textile Mills Limited, through circular resolution dated December 8, 2025, has approved the formation of a wholly owned subsidiary in the UAE,” read the notice. Last month, Premium Textiles approved a major project to install a 7.5MW wind…
The Australian dollar jumped in Asian trading on Tuesday to its highest level in three months against the US dollar, extending the strong rally that briefly paused yesterday as markets took a breather. The move reflects renewed demand for the Aussie, which traders currently view as one of the most attractive opportunities in the FX market. The buying momentum strengthened after the Reserve Bank of Australia left interest rates unchanged for a third consecutive meeting and warned that inflation risks remain tilted to the upside. Some analysts now believe the RBA may be forced to discuss a potential…
Crypto exchange operator HashKey Holdings has launched its share sale in Hong Kong, testing investor appetite amid repeated warnings against virtual currencies by China’s central bank.Hong Kong’s largest licensed crypto player set its initial public offering (IPO) price range at HK$5.95 to HK$6.95 apiece for more than 240 million shares, according to a filing on Tuesday. The listing date is December 17.With the price range, HashKey is eyeing up to HK$1.67 billion (US$214 million). In October, the firm was said to be aiming for US$500 million.The People’s Bank of China has repeated its tough stance on cryptocurrency speculation, including stablecoins.…
Nepal’s anti-corruption watchdog has filed criminal charges against ex-ministers, senior bureaucrats and a Chinese state-owned construction giant accused of inflating costs and manipulating contracts at a multimillion-dollar infrastructure project.The Commission for Investigation of Abuse of Authority (CIAA) on Sunday charged 55 people, including five former tourism and finance ministers, 10 ex-government secretaries and dozens of other high-ranking officials. Also named was China CAMC Engineering, its chairman Wang Bo and regional general manager Liu Shengcheng.The agency alleges the defendants colluded to inflate construction costs and siphoned off at least US$74 million during the construction of Pokhara International Airport, and is demanding…
GENEVA (AP) — UN Women and partners published a study Tuesday that found more than two-thirds of women journalists, rights defenders and activists have reported violence online, with over 40% saying they have faced real-world attacks linked to digital abuse.The report entitled “Tipping Point” focuses on an escalation in violence targeting such women alongside the rise of social media and artificial intelligence and draws on input from more than 6,900 human rights defenders, journalists and activists in 119 countries. The study by UN Women, the United Nations agency that promotes women’s rights, gender equality and empowerment of women and girls,…
BERLIN (AP) — German Chancellor Friedrich Merz said Tuesday that the Trump administration’s new national security strategy underscores the need for Europe to become “much more independent” from the United States in terms of security policy.Merz also pushed back against the notion that European democracy needs saving. The U.S. strategy, published Friday, paints European allies as weak, while offering tacit support to far-right political parties, and was critical of European free speech and migration policy. On Monday, European Council President António Costa warned the U.S. against interfering in Europe’s affairs and said only European citizens can decide which parties should…