Latest news with #Kaohsiung
Yahoo
5 days ago
- Business
- Yahoo
Cathay United Bank, Avaloq team up for onshore private banking in Taiwan
Cathay United Bank has collaborated with Avaloq to establish the first onshore private bank within Taiwan's newly launched Asset Management Hub in Kaohsiung. This partnership utilises Avaloq's core banking technology to improve operational efficiency and client service. The Financial Supervisory Commission (FSC) introduced the hub to foster growth in Taiwan's wealth management sector. It will enable financial institutions to offer a diverse range of services, including active and passive ETFs, family office consultancy, and high-value insurance products. As the first bank to operate within the hub, the bank is establishing a new booking centre and operational base in the city, aimed at providing tailored private banking services to high-net-worth individuals throughout Taiwan. Cathay United Bank's Private Banking CEO Robert Fuh said: 'We are proud to be the first bank to establish onshore private banking operations in the new Kaohsiung Asset Management Hub, demonstrating our leadership in the Taiwanese financial sector and to serving the needs of Taiwanese investors.' Avaloq will deliver comprehensive support for Cathay United Bank's private banking operations, focusing on enhancing efficiency across various areas. The Avaloq platform will facilitate front-office automation, improving portfolio management, client relationship and lifecycle management, while ensuring compatibility with the bank's existing systems. This integration is expected to streamline operations, promote revenue growth, and enable personalised services for clients, according to Avaloq. Avaloq North Asia regional director Eliza Chang said: 'The establishment of the new Asset Management Hub in Kaohsiung marks a significant milestone for Taiwan, and we are delighted to support Cathay United Bank as a pioneer in Taiwan's new onshore private banking sector.' Headquartered in Taipei, Cathay United Bank first partnered with Avaloq in 2020 to enhance both onshore and offshore private banking capabilities. In April this year, Avaloq opened its regional office in the Dubai International Financial Centre (DIFC) to drive digital transformation in the GCC financial sector. "Cathay United Bank, Avaloq team up for onshore private banking in Taiwan" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
South China Morning Post
5 days ago
- South China Morning Post
Hong Kong's Cathay apologises after passengers get stuck on board without air con
Hong Kong's Cathay Pacific Airways apologised to passengers twice on Thursday after an aircraft experienced two separate technical issues on the same day, one of which forced passengers to sit on board the plane without air conditioning, causing significant delays to two destinations. Cathay Pacific said on Thursday night that flight CX705 was originally scheduled to depart from Hong Kong at 8am, but was delayed as a result of a technical issue that occurred during boarding and affected the cabin's air conditioning. It later responded to the Post's enquiry, stating that the aircraft was then deployed on its flight to Kaohsiung, CX458, which was scheduled to depart from Hong Kong at 4.35pm. However, the airline said the flight experienced a different technical issue than the one in the morning and passengers were transferred to another aircraft. 'The aircraft involved had experienced a separate technical issue unrelated to CX705, which was resolved prior to its operation of CX458,' Cathay said. 'The safety of our customers and crew guides every decision we make. We sincerely apologise to our affected customers for the inconvenience and appreciate their understanding.' The airline earlier apologised to the passengers of the Bangkok flight. Cathay arranged replacement planes for both destinations. The flight to Bangkok was delayed for almost three hours to 10.48am, while the Kaohsiung-bound flight departed Hong Kong 4.5 hours behind schedule at 9.16pm.
Finextra
15-07-2025
- Business
- Finextra
Cathay United Bank partners Avaloq to establish onshore private bank in Taiwan
Taiwan has launched a new Asset Management Hub in Kaohsiung to accelerate the development of onshore private banking and strengthen its position as a regional wealth management centre. 0 As the first bank to establish private banking operations under this initiative, Cathay United Bank, in partnership with its longstanding technology provider Avaloq, is helping to shape the future of onshore private banking in Taiwan. Headquartered in Taipei, Cathay United Bank is a leading financial institution in Taiwan with a strong track record in wealth management. Following the liberalization of local regulations, the bank partnered with Avaloq in 2020 to help establish Taiwan's onshore and offshore private banking sector, leveraging the Avaloq platform's core banking capabilities to enhance operational efficiency and client service. Building on this foundation, the Financial Supervisory Commission (FSC) has now introduced an Asset Management Hub in Kaohsiung to promote the development of Taiwan's onshore wealth management and private banking industry. The initiative is designed to foster homegrown expertise and allows financial institutions to offer a wide range of banking and investment services, including active ETFs and passive multi-asset ETFs, consultancy for family offices and high-value insurance products. Cathay United Bank is taking a pioneering role as the first financial institution to establish private banking operations in the new Kaohsiung Asset Management Hub. The bank is working closely with Avaloq to set up a new booking centre and operational base in Kaohsiung, delivering tailored private banking services to high-net-worth individuals across Taiwan. As a leader in wealth management technology and services, Avaloq has been instrumental in enabling financial institutions across Asia to scale their operations and meet evolving client needs. With over 40 years of experience in wealth management and private banking technology, Avaloq is ideally positioned to support Cathay United Bank's expansion into this new onshore business. Avaloq will provide end-to-end support for Cathay United Bank's private banking operations in Kaohsiung, enhancing operational efficiency across the front, middle, and back office through high straight-through processing (STP) and data consistency. In addition, the Avaloq platform will provide front-office automation, supporting the bank's portfolio management, client relationship management, and client lifecycle management, while ensuring seamless integration with the bank's existing systems. These capabilities will help Cathay United Bank streamline operations, supporting revenue growth and enabling more personalized client service. Robert Fuh, Chief Executive Officer of Private Banking at Cathay United Bank, said: 'Our partnership with Avaloq has played a key role in expanding our wealth management capabilities in Taiwan, Hong Kong and Singapore. We are proud to be the first bank to establish onshore private banking operations in the new Kaohsiung Asset Management Hub, demonstrating our leadership in the Taiwanese financial sector and to serving the needs of Taiwanese investors. We thank the Financial Supervisory Commission (FSC) for this forward-looking initiative, which will help drive growth in Taiwan's financial sector and deliver greater value for investors.' Eliza Chang, Regional Director for North Asia at Avaloq: 'The establishment of the new Asset Management Hub in Kaohsiung marks a significant milestone for Taiwan, and we are delighted to support Cathay United Bank as a pioneer in Taiwan's new onshore private banking sector. We have a strong track record in enabling and developing Cathay United Bank's wealth management operations both onshore and offshore – and this marks an exciting new chapter in our partnership. Our community of clients can depend on our industry expertise, leading platform and understanding of local regulations to support their growth and help them respond quickly to evolving market demands.'
Sky News
07-07-2025
- Climate
- Sky News
Typhoon Danas: Two people killed and hundreds injured as 135mph winds hit Taiwan
Two people were killed and more than 500 injured as Typhoon Danas brought record winds of 135mph to Taiwan. The powerful storm tore across the island after making landfall along its southwestern shores late on Sunday. One person was killed by a falling tree while driving, said the National Fire Agency. Another person died after their respirator malfunctioned during a power cut. The storm reached winds of around 135mph (220kmph) as it tore through the southwestern county of Yunlin, reported the Reuters news agency. At least 700 trees were felled across a number of cities, while road signs and concrete electric poles were snapped off their bases. Power to nearly 700,000 homes was cut and more than 300 domestic and international flights were cancelled, according to government data. The storm dumped more than 60cms (23.6ins) of rain in places, causing landslides and flooding. More than 3,400 people were forced to evacuate, mostly from mountainous areas around the southern port city of Kaohsiung. In the southern city of Tainan, the structure of a large wooden gate to a major temple collapsed and was submerged in floodwaters. Typhoon Danas has since weakened, but is on course to hit eastern China. Maritime officials in eastern China's Zhejiang province raised the emergency response to the second-highest level, according to state broadcaster CCTV. On Monday, 121 passenger vessels and 64 ferry routes had been suspended across the province, CCTV added. Authorities in southern Guangdong province called hundreds of vessels to port to help evacuate more than 2,000 people from offshore facilities. Danas is expected to approach coastal areas between the cities of Taizhou and Fuzhou, according to the China Meteorological Administration. The typhoon is forecast to make landfall in China late on Tuesday.
France 24
07-07-2025
- Climate
- France 24
Typhoon Danas kills two, injures hundreds in Taiwan
The storm brought "destructive" gusts of up to 222 kilometres (138 miles) per hour to southwest Taiwan, where it made landfall late Sunday, the Central Weather Administration said. "This was the first time on record that a typhoon made landfall in Chiayi (county), it was a very unusual path," the forecaster from the weather agency said. The storm moved northward near Taiwan's west coast overnight and left Taiwan early Monday morning, but extremely heavy rain continued. At least 491 people have been treated for injuries, according to the National Fire Agency. A 60-year-old man died after a power outage at home caused his ventilator to stop functioning and a 69-year-old man was killed by a fallen tree when driving, the agency said. The storm caused widespread power outages across Taiwan, affecting around half a million households, it said. Nearly 400,000 homes remained without power on Monday morning. Danas dumped more than 500 millimetres (20 inches) of rain across southern Taiwan over the weekend, the weather agency said. Nearly 3,500 people were evacuated from their homes, mostly in mountainous areas around the southern port city of Kaohsiung, firefighters said. Thirty-three international flights from Taiwan were cancelled on Monday.
