insurance

 
 

EY to spend US$1 bln upgrading technology, innovation drive

KUALA LUMPUR: EY has announced plans to invest US$1 billion in new technology solutions, client services, innovation and the EY ecosystem over the next two financial years, commencing from July onwards. In a statement, it said, this move was part of an ongoing strategy to provide clients and people with innovative offerings using the latest […]


China defies US pressure as EU parts ways with Iranian oil

BEIJING, Aug 20 — China, seeking to skirt US sanctions, will use oil tankers from Iran for its purchases of that country’s crude, throwing Tehran a lifeline while European companies such as France’s Total are walking away due to fear of…


Allianz Malaysia Q2 net profit rises to RM89.87m

KUALA LUMPUR, Aug 20 — Allianz Malaysia Bhd’s net profit rose to RM89.87 million in the second quarter ended June 30, 2018 (Q2) from RM66.48 million a year ago, due mainly to higher contribution from general insurance and life insurance…


China regulator asks financial institutions to support infrastructure

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BEIJING: China’s banking and insurance regulator has asked financial institutions to give more support to infrastructure investment, importers and exporters, and creditworthy companies experiencing temporary problems. In a statement posted on its website, the China Banking and Insurance Regulatory Commission (CBIRC) also called on the institutions to raise the proportion of medium- and long-term loans […]


Tencent slump shows what happens when Beijing flips the switch

HONG KONG, Aug 17 — China long celebrated Tencent Holdings Ltd as a national champion. Now, the tech giant is getting a taste of what it’s like to be on the other side of government patronage. Tencent tumbled yesterday after reporting its first…


US banks beef up security after FBI warning on ATM ‘jackpotting’

WASHINGTON, Aug 17 — Banks are on alert for new attacks targeting cash in ATMs after the Federal Bureau of Investigation warned US lenders last week of a potential threat. “The FBI routinely advises private industry of various cyber-threat…


Tune Protect’s GWP to be driven by general insurance, global travel insurance

KUCHING: A significant amount of Tune Protect Group Bhd’s (Tune Protect) gross written premium (GWP) is expected to be underpinned by Malaysia’s general insurance business for 2018 estimate (2018E), while the rest is to come from digital global travel insurance, analysts observed. For 2018E, Affin Hwang Investment Bank Bhd (Affin Hwang) expected the bulk of […]


China's economy cools further, investment growth at record low

BEIJING, Aug 14 — China's economy is showing further signs of cooling as the US prepares to impose even tougher trade tariffs, with investment in the first seven months of the year slowing to a record low and retail sales softening, data showed…


China’s slower credit growth underscores worries over economy

BEIJING, Aug 14 — China’s broadest measure of new credit slowed, underlining concerns about the economy that have prompted authorities to start doing more to support growth. Aggregate financing stood at 1.04 trillion yuan (RM619.8 billion) in…


Beijing struggles to defuse anger over China’s P2P lending crisis

BEIJING, Aug 13 — Peter Wang was asleep at his home in Beijing last Monday when police officers arrived before dawn to detain him, saying he had helped organise a protest planned for later that day. Across the city, others who had lost money…