Daily round-up, Sep 23: Hong Kong scraps COVID-19 hotel quarantine; DBS, UOB temporarily remove fixed rate home loans

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Hong Kong to scrap COVID-19 hotel quarantine for overseas arrivals from Sep 26

Hong Kong will end mandatory hotel quarantine from Monday (Sep 26). 

All international arrivals will be able to return to the accommodation of their choice but will have to self-monitor for three days after entering the city. During that period, they will be allowed to go to work or school but not enter bars or restaurants.

From Sep 26, travellers will also be subject to polymerase chain reaction (PCR) tests on arrival.

A pre-flight PCR test, which was required for travellers to Hong Kong 48 hours before flying, will be replaced by a rapid antigen test.

Following the announcement, Cathay Pacific Airways said it plans to increase flight frequencies to both regional and long-haul destinations.

Here are some of the destinations in Asia that have recently eased COVID-19 entry rules.

DBS, UOB temporarily remove fixed rate home loans amid ongoing review

At least two Singapore banks – DBS and UOB – have temporarily stopped offering fixed rate home loans as of Friday (Sep 23).

The US Federal Reserve announced a 75-basis-point increase in its benchmark federal-funds rate on Wednesday, mirroring similarly hefty increases in June and July. 

DBS, Singapore’s largest lender, removed fixed rate home loans from its website. CNA understands that the local bank is currently reviewing its rates.

UOB said in response to queries that it is reviewing its fixed rate offerings and will be ceasing its existing two-year and three-year packages.

At OCBC, mortgage offerings seem to be left untouched as of ...

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