The decision comes after several US banking groups left the NZBA over the last six months.

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.

The international law firm has appointed Gaven Cheong as partner within the funds team in the Special Administrative Region; he joins from Tiang & Partners.

SoftBank has said it will spend $3bn annually to deploy customised AI across its group of companies; the JV, known as SB OpenAI Japan, will sell to Japanese firms.

Reporting tokens will help with digital and tokenised green bonds, hopefully increasing investor confidence in the space. MAS, the NUS, UOB and Northern Trust’s Matrix Zenith are involved.

Effie Vasilopoulos, formerly at Sidley Austin, will lead Broadfield's Apac operations as the newly created firm looks to build out the team quickly to cover the region across funds, private equity and corporate advisory.

After US president Donald Trump issued executive orders to place 25% tariffs on Mexican and Canadian imports (now delayed) and 10% on Chinese goods (starting February 4); China has now retaliated with tariffs on US coal, gas, crude oil and more.

The CEO and chairman have stepped down as the company looks to solve "temporary liquidity difficulties", in part through the support of its largest shareholder, the state-owned Shenzhen Metro Group.

The commodities group has returned to the market for the first time in three years and the PBOC has given approval for the funds to be repatriated offshore.