Two more international banks tied to Huawei technologies case
Two major international banks, Citigroup and BNP Paribas, have been linked to the ongoing legal case involving Huawei's CFO Meng Wanzhou. Arrested in Vancouver in December, Meng faces charges of bank fraud and sanctions violations while fighting extradition to the United States.
EU Member Brussels to revive blacklist money laundering states
The European Union is set to reintroduce a blacklist targeting countries with inadequate money laundering prevention. EU Justice Commissioner Vera Jourova aims to create a more transparent process after the previous attempt was rejected by member states due to lack of credibility and communication.
Hongkong banks sent out ads calling for calm
Local banks like HSBC, Standard Chartered, and Bank of East Asia published full-page ads in Asian newspapers urging restoration of peace. Protests have severely impacted small and medium businesses, with Bank of East Asia reporting a 75% drop in first-half net profit due to loan devaluations.
