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Ultra-Rich Africans Piling into Property to Preserve Wealth, Standard Bank Says
Skyscrapers and construction cranes in Cape Town, South Africa, on Wednesday, Feb. 25, 2026. South Africa’s latest budget painted an encouraging picture of improving public finances, according to Moody’s Ratings, while cautioning that “meaningful” debt reduction will require stronger economic growth.
PRA publishes liquidity reform proposals
News release The Prudential Regulation Authority (PRA) has today published proposals aimed at ensuring banks can monetise liquid assets quickly in a fast-paced stress event – such as the collapse of Silicon Valley Bank in 2023. Specifically, the PRA consultation to modernise liquidity standards proposes to: - Require firms to evaluate their liquidity, identify barriers to monetising assets, and conduct internal stress tests on how they would react to rapid outflows within a week (alongside a...
VR Man in 2026? One fan reimagined Singapore's TV superhero in an AI-generated video
One fan reimagined Singapore's TV superhero in an AI-generated video A VR Man fan created an AI-generated tribute imagining what Singapore's first TV superhero might look in 2026, complete with upgraded armour, bigger action and plenty of nostalgia. Singapore's very own TV superhero who burst onto the screens in 1998 wearing a black spandex suit and half mask, in what remains one of local television's most unforgettable experiments. Played by James Lye, the hunky actor-turned-global head of...
Bitcoin falls to $61,000, down more than 25% this month as long-term holders sell
Bitcoin has fallen to its lowest level since February, dropping more than 25% this month, as long-term holders liquidate billions in holdings and efforts to advance US crypto regulation face uncertainty in Washington. Bitcoin's slide deepened on Wednesday, with the price dropping as low as $61,300 for the first time since February, extending one of the most turbulent periods for the world's largest cryptocurrency this year. The price is down more than 25% from its high earlier this month and...
Hong Kong taps banks, lawyers and crypto firms to help rewrite rules for tokenised bonds
Advertisement Hong Kong taps banks, lawyers and crypto firms to help rewrite rules for tokenised bonds HKMA sets up the collective, spanning 21 institutions, in push to expand blockchain-based issuance beyond government pilots 2-MIN READ2-MIN Listen Hong Kong’s de facto central bank has formed a group of industry experts to help remove legal and regulatory hurdles to tokenized bonds, as authorities seek to move beyond pilot projects and encourage wider adoption from private issuers. The Hong...
Australians have a lot in common with the Pope when it comes to AI
analysis What do the Pope and most Australians have in common? Neither trust AI companies Thu 4 Jun 2026 at 5:00am It's not often that the Pope, college students and Australians agree. One topic that has put these unusual bedfellows all roughly on the same page is artificial intelligence.
Global watchdog calls for tighter controls on agentic AI in finance
Global watchdog calls for tighter controls on agentic AI in finance LONDON, June 10 : Global regulators said increasingly autonomous forms of AI could amplify risks for the financial system and called for new controls as adoption accelerates. The Financial Stability Board (FSB) in a report on Wednesday "strongly" encouraged boards to consider implementing safeguards to mitigate risks from AI, including from “agentic” AI — or those systems capable of planning, reasoning and executing tasks...
More measures on gold coming? Finance ministry asks banks for information on gold loans
In a move that may possibly be a sign of upcoming measures on gold, the finance ministry has directed bullion-importing banks to furnish detailed information on gold metal loans and loans backed by gold from 2023 onwards. Despite a lower import volume of 721 tonnes compared with the previous year, India's gold import bill rose 24% to a record $71.9 billion in 2025-26. The dozen banks involved in gold imports either borrow gold from international lenders and extend it to jewellers through...