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AdvertisementBanking & financeBusinessBanking & FinanceHong Kong banks’ profit growth slows as rising bad debts offset wealth-management incomeProfit growth slows to 7.3 per cent from 8.4 per cent a year earlier as bad loans exceed two-decade average, HKMA says
Reading Time:3 minutesWhy you can trust SCMPEnoch YiuPublished: 4:31pm, 12 Feb 2026Updated: 4:43pm, 12 Feb 2026Hong Kong’s retail banks posted 7.3 per cent pre-tax profit growth last year, as rising bad debts and a narrower net interest margin offset growing income from wealth-management services.
The city’s 30 retail banks recorded lower growth in aggregated pre-tax profit than in 2024, when profits increased 8.4 per cent, according to data from the Hong Kong Monetary Authority (HKMA).
The annual growth was much slower than the 62 per cent jump in 2023, when the city had just reopened the border with mainland China after the Covid-19 pandemic, and the 18.7 per cent increase in 2022, the data showed.
Advertisement“Overall, the b..

DMW Digital Reforms: Faster Services for OFWs in UAE and Globally The Department of Migrant Workers (DMW) in the Philippines has unveiled a sweeping set of digital reforms aimed at speeding up services for Overseas Filipino Workers (OFWs), including those in key destinations like the United Arab Emirates, as part of a broader effort to modernise support, reduce bureaucratic delays and protect migrant rights. The move, announced during the DMW’s Central Office–Regional Office Consultation 2026, reflects the government’s commitment to efficient, responsive services for millions of overseas workers who are vital to the nation’s economy and families.What the DMW changes entail
DMW Secretary Hans Cacdac said the reforms will cut queues, streamline procedures and align overseas services with domestic operations through a Regional Operations Manual that standardises practices across offices. The department also plans to adopt a Quality Management System (QMS), upgrade facilities to global sta..

Vikash Ramkissoon (Image credit: Parliament of Guyana) A debate in Guyana’s Parliament took an unexpected turn when Member of Parliament Vikash Ramkissoon responded in fluent Hindi after an opposition lawmaker questioned his knowledge of the language.The exchange began when an opposition member claimed that Ramkissoon did not understand Hindi. Seeking permission from the Speaker, he said he would respond in Hindi to address the remark directly.Opposition Doubts Hindi Ability, Indian-Origin MP Ramkissoon’s Reply Leaves Guyana House SilentAddressing the House, Ramkissoon named the opposition member and issued an open challenge. He said he was ready to debate on any subject, at any venue chosen by his opponent, including on television, and that the discussion could be conducted entirely in Hindi without referring to notes or papers.“Vishey woh tay karein, main jawab dunga bina kagaz dekhey” (They decide the topic, I will respond without using a paper), he said.He delivered his remarks cal..

AdvertisementArtificial intelligenceThis Week in AsiaLifestyle & CultureAs Asia faces falling birth rates, AI’s rise distracts couples from building familiesAI is putting pressure on Asian workers to upgrade their skills, while the technology also provides ‘cheap fun’ diversions
Reading Time:3 minutesWhy you can trust SCMPBiman MukherjiPublished: 4:42pm, 11 Feb 2026As Asia grapples with falling birth rates, analysts warn that the rise of artificial intelligence is worsening the problem, with the technology putting pressure on workers to upgrade their skills and posing a distraction to families after office hours.Fertility rates have fallen across the region to some of the lowest levels in the world, well below the generally accepted replacement rate of 2.1 children per woman needed to keep a population stable over time.
The drop in fertility rates was due to financial pressures and career demands faced by people in their thirties and forties when they should be starting families, James..

AdvertisementHong Kong's national security lawHong KongLaw and CrimeHong Kong fugitive Anna Kwok’s dad guilty of trying to cash out HK$88,000 policyKwok Yin-sang attempted to deal with financial assets of US-based Anna Kwok, despite knowing daughter is wanted activist with HK$1 million bounty on her head
Reading Time:3 minutesWhy you can trust SCMPBrian WongPublished: 4:42pm, 11 Feb 2026Updated: 4:45pm, 11 Feb 2026The father of a wanted Hong Kong activist has been convicted under the city’s domestic national security law for trying to cash out an insurance policy worth more than HK$88,000 in his daughter’s name.West Kowloon Court on Wednesday convicted Kwok Yin-sang of attempting to deal with the financial assets of US-based activist Anna Kwok Fung-yee, despite knowing authorities had classified her as an absconder under the Safeguarding National Security Ordinance.
The 69-year-old defendant is the first person to be found guilty of a non-sedition-related offence under the ordinan..

Dubai's Global Village passport lets visitors collect pavilion stamps, turning one evening into a world tour/Representative Image At first glance, it looks like a real passport. In reality, the Dubai’s Global Village passport is a playful souvenir that turns a night out into a miniature journey around the world. Sold inside Global Village, the booklet has become a favourite among families, children, and anyone who enjoys collecting memories rather than magnets.So what exactly is it, and why do so many visitors make it part of their visit?A souvenir designed like a world tour
The Global Village passport is a small, themed booklet created as a keepsake for guests exploring the park’s more than 30 international pavilions. Each pavilion represents a different country or region, and each has its own custom stamp. As visitors move from one pavilion to the next, they can add a stamp to their booklet, slowly filling the pages with colourful impressions.The idea is simple. Walk, explore, s..

Dubai’s new property resale rule 2026: What UAE residents and expats should know before participating Long known for its dynamism, transparency and global investor appeal, Dubai’s property market has taken another step toward modernisation and liquidity with the rollout of a new resale rule aimed at activating the secondary property market. This rule, part of the Dubai Land Department’s (DLD) real estate innovation agenda, has the potential to reshape how residents and expatriates invest, sell and trade real estate in the emirate.At its core, the rule targets the secondary market where off-plan or newly built units are resold to buyers and is tied to Dubai’s broader digital transformation and tokenisation efforts in real estate.What is the new resale rule in Dubai?
The recently announced rule, coming in Phase 2 of Dubai’s property tokenisation project, aims to activate resale activity in the secondary market by enabling the resale of millions of digital property tokens linked to real e..

AdvertisementSouth KoreaAsiaEast AsiaInside Seoul’s ‘closet’ homes: YouTube tour reveals reality of gosiwon livingYouTuber Drew Binsky tours Seoul’s US$250-a-month micro-flats, sparking conversation on urban housing and South Korea’s hidden pressures
Reading Time:2 minutesWhy you can trust SCMPThe Korea TimesPublished: 4:43pm, 10 Feb 2026When Drew Binsky stepped into a gosiwon in Seoul, the doorway alone offered a clue to the life inside. The entrance measured barely 61cm (24 inches) across – narrow enough to require a slight turn of the shoulders to pass through.Binsky, an American travel YouTuber with millions of subscribers, documented his experience in his video “Inside Korea’s smallest apartment,” posted on February 1. The video tours several gosiwon facilities across Seoul and drew more than 1.9 million views within days of its release, bringing renewed international attention to one of the city’s least visible forms of housing.“Behind the bright lights and advanced technology, m..

AdvertisementChina & global engagement schemeHong KongEducationUGC fosters global environment for Hong Kong universities by providing students with national and international learning opportunitiesPaid Post:University Grants CommitteeReading Time:9 minutesWhy you can trust SCMPAdvertising partnerPublished: 4:25pm, 10 Feb 2026[The content of this article has been produced by our advertising partner.]
In the past three years, the University Grants Committee (UGC) has been supporting public-funded universities to develop a more global learning environment for Hong Kong’s higher education. With an increase of over 30% since the 2023/24 academic year, non-local students in UGC-funded programmes have become far more culturally diversified in recent years as Hong Kong establishes itself as an international education hub. While many are from Chinese Mainland thanks to geographical proximity and enhanced mobility, those from the Belt and Road countries and regions, as well as the Association of..

UAE public school registration opens February 9 for 2026–27 academic year, Ministry of Education announces/Representative Image Parents planning to place their children in UAE public schools next academic year will have a fixed window to complete enrolment, as the Ministry of Education opens registration from 9 February to 6 March 2026. Officials said applications will be accepted only during this period, with no extensions planned.Who can apply
Registration is open to Emirati citizens and eligible students across the public school system. The ministry stressed that early registration allows schools to prepare properly for the year ahead, from classroom distribution and staffing to textbooks and transport services, helping ensure a smooth start from the first day of term.Admission ages for the 2026–27 intake
Applications will be processed in line with the updated age policy for entry levels:Kindergarten 1 (KG1): Children born between 1 January and 31 December 2022, aged fourKindergart..