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Luxembourg, Australia sign fintech deal; Moody's downgrades Suruga Bank ratings

GREATER CHINA

* The Shanghai Stock Exchange and New Zealand Exchange signed a memorandum of understanding to collaborate on information sharing, market development and green financing, Shanghai Securities News reported. Huang Hongyuan, president of Shanghai Stock Exchange and James Miller, chairman of NZX, signed the agreement on behalf of the bourses.

* China-based financial technology firm Weshare Technology Service (Shenzhen) Co. Ltd. raised US$90 million in a series B round led by Huaxing New Economic Fund, Loyal Valley Innovation Capital and CITIC Capital Holdings Ltd., DealStreetAsia reported, citing a separate media report that covered Huaxing Capital's announcement on its WeChat channel.

* Fitch Ratings assigned Mongolia-based policy bank Development Bank of Mongolia LLC long- and short-term foreign-currency issuer default ratings of B, with a stable outlook on the long-term rating.

JAPAN AND KOREA

* Moody's downgraded Suruga Bank Ltd.'s long-term bank deposit rating to Ba2 from Baa1 and short-term bank deposit rating to NP from P-2; its baseline credit assessment and adjusted BCA to ba3 from baa3; and its long- and short-term counterparty risk assessments to Ba1(cr) and P(cr), respectively, from A3(cr) and P-2(cr). The rating agency placed various ratings on review for further downgrade.

* Fuyo General Lease Co. Ltd. plans to issue ¥10 billion of five-year green bonds as early as November, Tokyo's The Nikkei reported.

* South Korea's Financial Services Commission will prohibit moneylenders from requiring cosigners on loan contracts, beginning in 2019, The Dong-a Ilbo reported. The cosigning ban has been in place for banks since 2012 and for nonbank lenders since 2013.

* Taurus Investment & Securities Co. Ltd. Chairman Sohn Bok-jo has returned to top management as CEO after Kang Seok-ho stepped down from the role following the aborted sale of a controlling stake to real estate developer Jinwon Engineering & Consulting Co. Ltd., The Financial News reported. The company is reportedly in talks with other prospective buyers.

* A North Korean hacking group attempted to steal at least US$1.1 billion from 16 banks in 11 countries in the last four years, Yonhap News Agency reported, citing an American cyberspace security firm.

ASEAN

* The Office of Insurance Commission of Thailand is drafting proposed guidelines to regulate the insurance products of agricultural goods, Thailand's Post Today reported.

* PT Bank Mandiri (Persero) Tbk said its Mandiri eMoney card transactions reached 875 million transactions with a value of more than 28 trillion rupiah, Bisnis Indonesia reported.

* A consortium of local and foreign investors, led by businessman Ilham Habibie, will acquire a majority stake in Indonesia-based PT Bank Muamalat Indonesia Tbk for 2 trillion rupiah, the Jakarta Globe reported. Under the term of the acquisition, Bank Muamalat will sell 20 billion new shares at 100 rupees apiece, subject to shareholders' approval.

* Indonesia's Financial Services Authority asked potential investors in PT Bank Muamalat Indonesia Tbk to deposit 4 trillion rupiah into an escrow account as a show of intent, Bisnis Indonesia reported.

* The Monetary Authority of Singapore has issued a full banking license with qualifying full bank privileges to a wholly owned subsidiary of Malayan Banking Bhd. Subject to relevant regulatory approvals, Malayan Banking Bhd. - Singapore Branch will transfer its retail, wealth, small and midsize enterprises and commercial banking business to Maybank Singapore Ltd.

SOUTH ASIA

* Infrastructure Leasing & Financial Services Ltd. appointed Vineet Nayyar managing director, Mint reported, citing Uday Kotak, the company's nonexecutive chairman. Nayyar was appointed after the entire board of IL&FS was replaced following recent defaults.

* IDBI Bank Ltd. allotted 339,897,328 shares to Life Insurance Corp. of India at 61.73 rupees per share to raise up to 20.98 billion rupees via a preferential issue.

* Rating agency CRISIL Ltd. raised the rating of AU Small Finance Bank Ltd. long-term debt instruments to AA- from A+, citing a high degree of safety and low credit risk, Press Trust of India reported.

* Airtel Payments Bank Ltd.'s net loss grew 10% to 2.72 billion rupees during fiscal 2017-18 from 2.44 billion rupees in the year-ago period, The Hindu Business Line reported.

* The government of Pakistan dismissed two deputy governors from the State Bank of Pakistan after it deemed their appointments illegal, Reuters reported, citing a spokesman for the government. The names of the governors were not disclosed.

AUSTRALIA AND NEW ZEALAND

* The Australian Securities and Investments Commission and the Luxembourg Commission de Surveillance du Secteur Financier entered into a cooperation agreement to understand financial innovation in each jurisdiction. The regulators will share information on financial and regulatory technology.

* Bank of Queensland Ltd.'s full-year cash earnings after tax declined 2% to A$372 million from A$378 million in the prior-year period. The bank's statutory net profit after tax declined 5% to A$336 million from A$352 million.

* Fidelity International is set to list an active exchange-traded fund on the Australian Stock Exchange in the next few weeks amid strong rivalry from global asset managers to attract retirement fund assets and concerns that local investors may invest in domestic stocks, the Financial Times reported.

* Two permanently banned mortgage brokers, Shilpa Karandikar and Shrikrishna Karandikar, are facing fines and imprisonment after allegedly ignoring restrictions imposed on them and applying for more loans using false documents for people without their consent.

IN OTHER PARTS OF THE WORLD

Middle East & Africa: Trade Bank of Iraq eyes Gulf lender; Liberty plans job cuts; Uganda lifts rate

Europe: Danske Bank could face $9B fine; regulators approve CYBG/Virgin Money merger

Latin America: Brazil's B3 settles with antitrust body; Chile passes bank modernization bill

North America: Hedge fund to return money to investors; Powell says rate hikes should continue

Global Insurance: Aetna to stay put; Transamerica settles suit; alt capital's 'bloody nose'

R Sio, Sally Wang, Jonathan Cheah, Jaekwon Lim and Santibhap Ussavasodhi contributed to this report.

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