Asia PacificAustralia newsBankingBusinessPacific islandsPapua New GuineaUBSWorld news

UBS should be banned from doing business in PNG after loan deal, PM tells parliament

James Marape says failed deal cost country ‘in excess of $AUD340m’ and accused bank of overcharging by AUD$175mThe Australian arm of UBS should be banned from doing business in Papua New Guinea for ten years and former prime minister Peter O’Neill shou…

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HSBC to slash post-Covid office space by 40% as profits drop by a third

Bank also reaffirms greater shift towards Asia-Pacific, where most of its earnings come fromHSBC is to reduce its office space around the world by nearly 40% as part of sweeping cost cutting designed to capitalise on new part-office-part-homeworking ar…

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