HSBC's chief executive Georges Elhedery said the bank is on track to make $300m of savings by the end of 2025; the London-headquartered bank has also exited its Bahrain retail business and announced a $2bn share buyback.

A licensing scheme for stablecoin issuers in Hong Kong is expected to be introduced later this year.

Ian Johnston, chief executive, Dubai Financial Services Authority, is confident the growing flows between Asia and the Middle East will continue.

The fund will also be the first retail tokenised fund across Asia Pacific.

Nissan is expecting a net loss of ¥80bn for the current fiscal year as the Japanese giant moves ahead with ¥400bn of cost savings, including reducing global capacity by 20%, with progress already made in China.

The Shenzhen-headquartered lithium-ion battery maker has named seven banks involved in the listing process.

Retaliatory tariffs, a stronger dollar and several u-turns from the Trump administration are creating an uncertain outlook for 2025 and is pushing up the price of gold; meanwhile, Hong Kong and China are lodging complaints to the WTO.

The global investment bank has appointed the former Barclays and JP Morgan banker as a managing director in its financial sponsors group.

Shenzhen Metro Group is the Chinese property giant's largest shareholder with the move coming after Vanke said it could make a loss of up to Rmb45bn in 2024.

The release of a competitive low cost large language models not only shifts the AI narrative away from expensive hardware, but also prompts debate about a potential inflection point for fund managers, with some models potentially not surviving.