Those who have studied history well may remember the city-states of medieval Europe. Back then, caravans of merchants traveled from one city-state to another, bringing luxuries and news from distant places. It is this way of life that allowed these traders to have freedom of mobility and choice. It is …
Read More »Principle or pragmatism? Big brands are leaving Russia
This article is an on-site version of our The Road to Recovery newsletter. register here to receive the newsletter directly in your inbox three times a week Good evening, McDonald’s, Coca-Cola, PepsiCo, Starbucks, Unilever: The list of mainstream brands leaving Russia has accelerated in recent days, joining what a Yale …
Read More »Inflation will put the new president in the dilemma of stimulus spending
March. 9. 2022 Settings Finance 2022-03-09 16:06 Inflation will put the new president in the dilemma of stimulus spending Shoppers walk past a fruit vendor at a traditional …
Read More »How the war in Ukraine could boost China’s global financial ambitions
Sanctions imposed in response to Russian President Vladimir Putin’s invasion of Ukraine dealt a devastating blow to his country’s financial system and left the ruble down more than 30% this year, causing currency repercussions from Eastern Europe. But the renminbi, the currency of Russia’s closest strategic ally and main trading …
Read More »Sanctions against Russia highlight the dollar’s exorbitant privilege
Sanctions imposed by the United States and the European Union on Russian banks have made Russian business entities a global pariah, much like North Korea. Importers, exporters and banks in many countries are stuck with receivables, payables and exposures and there is a small fear of large defaults. But in …
Read More »Chinese stocks fall amid geopolitical tensions; focus on the parliamentary meeting
SHANGHAI, March 4 (Reuters) – Chinese stocks fell on Friday amid geopolitical tensions and concerns over the property market, with investors nervously watching for hints of an easing of measures at the next congressional meeting. The CSI300 index (.CSI300) fell 0.9% to 4,509.53 at the end of the morning session, …
Read More »Russia doubles interest rates after sanctions drive down ruble
Russia’s central bank more than doubled interest rates on Monday in a bid to stabilize the country’s financial markets, after unprecedented Western sanctions sent the ruble down as much as 29%. The central bank raised its main interest rate to 20% from 9.5% in an emergency decision, saying “the external …
Read More »Thai fiscal and monetary policy to help ensure a full recovery in 2024 – Finance Minister
BANGKOK: Thailand’s fiscal and monetary policies are still working together to achieve 4 percent economic growth this year and ensure a full economic recovery, its finance minister said Thursday. The central bank had expected Southeast Asia’s second-largest economy, which grew 1.6% last year after a 6.2% contraction in 2020, to …
Read More »Sensex, Nifty end a bit lower; Cement UltraTech, M&M, Infy, RIL weight
India’s stock market continued its lackluster trading for the third straight session as it struggled for firm direction amid the absence of any major developments on the domestic or global front. Additionally, mixed signals from global peers also weighed on the market, with lingering concerns over Ukraine-Russia tensions and fears …
Read More »Asian stocks mixed, US futures plunge as traders weigh Fed minutes, geopolitical concerns; Oil Slumps: Market Recap
Japan’s Topix index fell 0.6%, South Korea’s Kospi index rose 1.2% and Hong Kong’s Hang Seng index rose 0.2%. While S&P 500 and Nasdaq 100 futures fell 0.2%. U.S. stock futures fell and Asian stocks were mixed on Thursday as traders weighed geopolitical concerns and the likely trajectory of Federal …
Read More »Analysis: the Japanese yen becomes a financing currency again, but with more risks
HONG KONG, Feb 15 (Reuters) – As the Bank of Japan asserts its position as a lone dove among its peers, the yen is regaining its status as the world’s most popular funding currency. The trade is risky, however, as the yen could once again become a safe haven if …
Read More »GLOBAL MARKETS – Asian stocks fall as US jobs stunner hammers bonds
* Asian stock exchanges: https://tmsnrt.rs/2zpUAr4 * Nikkei Slips, Wall St Futures Flat; China is jumping * Bonds deteriorated after U.S. jobs stun, CPI looms * The euro keeps its gain after the hawkish turn of the ECB By Wayne Cole SYDNEY, Feb 7 (Reuters) – Asian stock markets generally eased …
Read More »Indonesian rupiah businesses amid weak Asian currencies during the holidays
Asian currencies mixed in a thin trade Stocks from Japan, India and the Philippines rise China, South Korea, Malaysia, Taiwan and Singapore are closed for the holidays Feb 2 (Reuters) – The Indonesian rupiah strengthened on Wednesday after the country’s finance minister took a cautious stance on the timing of …
Read More »US stocks reverse heavy losses as buyers step in
Shares on Wall Street ended higher on Monday after investors took advantage of a sharp decline early in the session to snap up discounted stocks. The S&P 500 index stock gained 0.3%, reversing a midday decline of up to 4%. At its lows, the blue-chip U.S. benchmark was more than …
Read More »China’s wild markets raise the stakes for traders buying into the rally
(Bloomberg) — The battle between fear and greed is wreaking havoc on Chinese financial markets. Bloomberg’s Most Read With China bulls finally getting some vindication as the country’s stocks and bonds rally, the past week shows that investors need to be prepared for wild swings. Take Country Garden Holdings Co., …
Read More »Russia proposes to ban the use and mining of cryptocurrencies
Russian c.bank proposes to ban the use of cryptocurrency Regulator warns of financial stability risks Analysts say the wider impact is negligible for now Ban on cryptocurrency exchanges also proposed MOSCOW, Jan 20 (Reuters) – Russia’s central bank proposed on Thursday to ban the use and mining of cryptocurrencies on …
Read More »Asian stocks mixed after China reports slower growth
BANGKOK (AP) — Stocks were mixed in Asia on Monday after China reported its economy grew at an annual rate of 8.1% in 2021, though growth slowed to half that level in the last quarter. . Tokyo, Shanghai and Sydney rose, while Hong Kong and Seoul fell. The weakness of …
Read More »India and Sri Lanka review progress in providing loans worth $1.5 billion | Latest India News
NEW DELHI: India and Sri Lanka on Saturday reviewed progress in providing loans worth a total of $1.5 billion to the island nation for emergency purchases of food, medicine and supplies. fuel to overcome an economic crisis. The matter featured in a virtual meeting between Foreign Minister S Jaishankar and …
Read More »S. Korean won best day in more than a month on rate hike hopes
Thai stocks, baht gain after central bank assurance Singapore stocks gain the most, driven by Singtel’s rise Jan. 11 (Reuters) – The South Korean won dominated the gains of Asian currencies on Tuesday, as bullish economic data raised prospects for higher interest rates, while telecoms stocks held down shares of …
Read More »Turkish Erdogan loses support where he can least afford it
The anger sweeping the highways connecting the Turkish leader’s humble hometown to its lavish accommodations in Ankara’s presidential palace sends a red warning code to Recep Tayyip Erdogan. Tea growers, fishermen, small retailers, cafe staff and gas station attendants – some of the generally low-paid Turks and laborers who have …
Read More »Employees frustrated by inflation
Employees frustrated by inflation – Korea Times Finance 2021-12-17 15:00 Employees frustrated by inflation Bank of England By Lee Kyung-min Inflation is no longer a term used only by researchers to describe the economy, as exemplified by salaried workers clearly experiencing soaring prices of almost all frequently purchased goods and …
Read More »Central bank focuses on growth ahead of rate review
The Bank of Thailand is focused on helping economic growth amid subdued inflation and less worried about the US Federal Reserve’s monetary actions, BoT Governor Sethaput Suthiwartnarueput said ahead of the meeting of bank rate next week. “Most of our rate path will be dictated by national considerations,” Sethaput said, …
Read More »Global stocks are mixed as China prepares to boost markets
BANGKOK (AP) – European stocks and US futures rose on Monday after a lackluster day in Asia, where stocks fell in Hong Kong and Shanghai after struggling Chinese real estate developer Evergrande warned it could running out of money. Take action to reassure investors and avoid blocking growth, The central …
Read More »Vietnam, Taiwan cross US Treasury currency thresholds, but no manipulator labels
The United States Department of the Treasury is seen in Washington, DC, the United States, on August 30, 2020. REUTERS / Andrew Kelly / File Photo Register now for FREE and unlimited access to reuters.com Register now December 3 (Reuters) – Vietnam and Taiwan again crossed US Treasury thresholds for …
Read More »Bangladesh abounds with investment opportunities
Investment opportunities have opened up in Bangladesh for its competitive salaries, strategic location, stable policies, exchange rate and political situation, infrastructure development and huge youth population, said Ahmad Kaikaus, secretary principal of the Prime Minister. In line with its aspirations for higher growth, Bangladesh has set itself a target of …
Read More »Asian FX resists strong dollar, stocks are nervous
Thai stocks hit a high for more than 2 months Singapore posts better than expected third quarter GDP Bank of Korea rate decision expected on Thursday Nov. 24 (Reuters) – Emerging market currencies in Asia were broadly subdued on Wednesday as regional assets remained resilient, even as bets on the …
Read More »Stable stocks, rise in US futures; Cash slip: contract envelope
(Bloomberg) – Asian stocks were flat and US futures rose as traders weighed in on European Covid brakes and the risk of a faster Federal Reserve cut. The Treasury yield curve was almost the flattest since the start of the pandemic. Bloomberg’s Most Read Shares fell in Japan on Monday …
Read More »Second winter of woe threatens the global economy: a green week ahead
(Bloomberg) – The global economy is approaching northern hemisphere winter in disarray, unable to shake off the coronavirus crisis amid persistent supply disruptions, soaring prices and resurgence epidemics. Bloomberg’s Most Read The global surveys conducted this week among purchasing managers probably point in this direction. Among the results expected by …
Read More »The case of the oddly calm inflation rate
INFLATION ON THE RISE around the world, with price increases now exceeding central bank targets. but Japan is a notable resistance. Although policy makers have long sought to generate inflation, consumer prices still refuse to budge. In October, they only rose 0.1% year on year, and inflation, excluding fresh produce …
Read More »North Korea’s elusive cash coupons from A to Z
A photo of the currency bills currently in circulation in North Korea. / Image: Daily NK More than two months have passed since the North Korean authorities issued cash vouchers, or donpyo, to absorb foreign currency. However, most North Koreans are unaware that the coupons were issued. According to several …
Read More »FOREX-Dollar Stabilizes As Traders Look To Cenbanks For Advice
By Tom Westbrook SINGAPORE, October 26 (Reuters) – The dollar rebounded from recent lows and was firm in choppy trading on Tuesday ahead of a handful of data releases and central bank meetings that investors expect guide the rate outlook. The euro fell 0.3% overnight on weaker-than-expected German corporate morale …
Read More »Taiwan dollar fortunes change due to large outflows of foreign capital
(Bloomberg) – The Taiwan dollar is facing increasing headwinds linked to foreign capital outflows, after dominating the ranking of Asian currencies in the first nine months of the year. Bloomberg’s Most Read Robust exports and the trade surplus helped the Taiwan dollar overcome the strength of the greenback and outperform …
Read More »What CBDCs mean for the future of DeFi and Stablecoins
Over the past year, the narrative surrounding central bank digital currencies (CBDCs) has advanced significantly. From an almost entirely conceptual discussion, CBDCs are now in various stages of research and development to determine how they might work in practice. The Chinese digital yuan is currently leading the pack. After several …
Read More »GLOBAL MARKETS – Stocks envision third week of gains after tech boost, dollar plunges
* FAANG stocks in focus before profits * Evergrande avoids default with surprise interest payments * Flat crude, falling dollar, rising gold By Simon Jessop and Kevin Buckland LONDON / TOKYO, October 22 (Reuters) – Global stocks were on track for their third straight week of gains on Friday, supported …
Read More »G-20 CFOs back landmark tax deal, vow to act against inflation
The chief financial officers of the Group of 20 major economies on Wednesday approved a 15% global minimum corporate tax rate and other new rules to fight tax evasion by IT giants, while promising to ” act as necessary in the face of rising inflation rates amidst supply disruptions due …
Read More »UPDATE 1-China’s Export Growth in September Accelerates Unexpectedly, Imports Slow
* September exports + 28.1% y / y vs. + 21% forecast in the Reuters poll * Sept imports + 17.6% year / year vs + 20% forecast * September trade balance $ 66.76 billion against $ 46.8 billion forecast BEIJING, Oct. 13 (Reuters) – Chinese exports grew faster than …
Read More »Georgieva’s future as IMF head still unclear after marathon board meeting
World Bank Managing Director Kristalina Georgieva speaks during the China Development Forum (CDF) 2018 annual session at Diaoyutai State Guesthouse in Beijing, China on March 25, 2018. REUTERS / Jason Lee / File Photo WASHINGTON, Oct. 8 (Reuters) – The board of directors of the International Monetary Fund on Friday …
Read More »The strength of the dollar is holding back Asian currencies; Rupee bears reappear: Reuters poll
By Anushka Trivedi (Reuters) – Investors have made short bets on most emerging Asian currencies, according to a bimonthly Reuters poll, as a multitude of factors, including expectations of U.S. rate hikes, rising inflation and signs of slowing global economic growth, boosted the dollar. Long positions on the Singaporean dollar, …
Read More »The Minister of Finance minimizes the risks of Evergrande, the Fed moves
Finance Minister Nirmala Sitharaman downplayed fears of global contagion from the Evergrande crisis in China and said the central bank and government were closely monitoring any risk of “tantrum typing” resulting from the likely shift in the policy of the US Federal Reserve. Without naming China, she also pointed to …
Read More »Hong Kong real estate agencies sue Evergrande to recover commissions
HONG KONG (Reuters) – Two Hong Kong real estate agencies are suing heavily indebted China Evergrande group over unpaid commissions, court filing and news reports say, putting pressure on the developer as he scrambles to raise funds and avoid a collapse. Centaline filed a lawsuit against Evergrande in September to …
Read More »UAE Central Bank to bring together world leaders to explore future of finance
Central bank governors, industry leaders and heads of financial and technological institutions from around the world will meet in Dubai next week to discuss the future of finance at a conference hosted by the Central Bank of the United Arab Emirates. The two-day event – Future of Finance – will …
Read More »Hong Kong central bank refines green finance benchmarks
HONG KONG – Strengthening its environmental credentials, Hong Kong’s de facto central bank recently donated 100 green and pink lunch boxes to its employees in a bid to reduce plastic waste and raise awareness of environmental issues. But the Hong Kong Monetary Authority does more than just hand out food …
Read More »Hong Kong CFO says city’s exposure to Evergrande is “very minimal” -SCMP
The China Evergrande logo is seen outside the China Evergrande Center building in Hong Kong, China on September 23, 2021. REUTERS / Tyrone Siu / File Photo Oct 3 (Reuters) – Hong Kong’s exposure to debt-laden developer China Evergrande Group (3333.HK) is “very minimal” at 0.05%, or HK $ 14 …
Read More »Laos recruits a Japanese startup for a study on digital currency
TOKYO – Laos will explore issuing its own digital currency with the support of a Japanese fintech startup that has been implicated in a similar effort by Cambodia, Nikkei has learned. The study by the central bank of Laos and Tokyo-based Soramitsu will begin this month. The initiative marks Laos’ …
Read More »The FOREX-Dollar reaches its highest level in a year; The impact of the US debt ceiling is mitigated
* The dollar rises against the yen to the highest since February 2020 * The euro falls to the lowest since late July 2020 * The US government shutdown looms as the debt ceiling deadlock is not resolved * Global Central Bankers Monitor Inflation (Add New Commentary, Central Bankers Comments, …
Read More »Warren openly opposes Powell’s second term as Fed chief; Powell urges increase US debt limit
Good day. Senator Elizabeth Warren on Tuesday became the first Democratic senator to publicly oppose a second term for Federal Reserve Chairman Jerome Powell, criticizing him during a Senate Banking Committee hearing for weakening banking regulations which, according to her, left the US financial system more at risk of a …
Read More »New Japanese Prime Minister Kishida to Maintain Strong Fiscal and Monetary Support
By Leika Kihara TOKYO (Reuters) – Japan’s struggle to emerge from the pandemic-induced doldrums will leave the next Prime Minister Fumio Kishida with no choice but to maintain massive fiscal and monetary support for a fragile economy. But Kishida could gradually shed the legacy of former Prime Minister Shinzo Abe’s …
Read More »Bank of Thailand keeps policy rate at record high as Covid-19 outbreak eases
The Bank of Thailand’s Monetary Policy Committee decides to keep its key rate unchanged for 11 consecutive meetings. (Reuters photo) The Bank of Thailand kept its policy rate unchanged on Wednesday as the Covid-19 epidemic in the country eases, allowing the government to ease movement restrictions to boost local demand …
Read More »FOREX-Yen weakens to 111 per dollar as US Treasury yields skyrocket
By Kevin Buckland TOKYO, Sept.28 (Reuters) – The yen traded near an almost three-month low against the dollar and hit a two-week low against the euro on Tuesday, as rising yields bonds in the United States and Europe attracted Japanese investors. The yen was little changed at 110.985 per dollar, …
Read More »Beijing and Brussels set to release common standards for sustainable finance this year, PBOC official says
China and the EU are expected to publish the first set of common classification standards for sustainable finance by the end of this year, an initiative that aims to facilitate the issuance of green bonds and other investment products. of this type in foreign markets, according to Chen Yulu, deputy …
Read More »Insto Roundup: FWD files for ADR list in New York; Nippon Wealth Life fully acquired by parent company | Asset owners
AUSTRALIA Brendan O’Farrell, managing director of industrial super fund Intrust, said he would leave the fund after its merger with Hostplus ends. The AU $ 2.6 billion (AU $ 1.89 billion) fund confirmed in June that it was in talks with Hostplus for a merger, which would form a fund …
Read More »China’s crypto ban highlights central banks giving their own spin to digital coins
Earlier this month, Benoit Coeure, a well-known central bank policy maker, sounded the alarm bells for central banks to act now on the minting of their own central bank digital currencies (CBDCs). In a speech, the former European Central Bank economist who leads innovation at the Bank for International Settlements …
Read More »Philippines names 6th digital bank; Westpac cancels deal with Kina Securities
S&P Global Market Intelligence features our top picks of banking news and other articles published throughout the week. Please note that some entries may contain links to third party sources requiring subscription. Central bank actions, regulatory policies and more * The New Zealand central bank is continuing its plan to …
Read More »Asian Currency Short Bets Rise On Weakening Fed Outlook: Reuters Poll
By Rushil Dutta (Reuters) – Bearish bets on most Asian currencies edged up slightly ahead of a U.S. Federal Reserve meeting in which they hinted at possible rate hikes next year, while Bullish bets on the yuan have reversed, according to a Reuters poll on Thursday. At its policy meeting …
Read More »Stocks rose the most since July before the Fed’s decision: markets are enveloping
(Bloomberg) – US stocks rose the most since July, as concerns over China Evergrande Group’s debt problems eased ahead of the Federal Reserve’s policy move on Wednesday. T-bills and the dollar have changed little. Bloomberg’s Most Read The S&P 500 climbed to 1.3%, led higher by the energy and financials …
Read More »Kuroda of the BOJ reaffirms the need for a policy mix before the leaders’ vote
(Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Bloomberg’s Most Read Bank of Japan Governor Haruhiko Kuroda has reaffirmed the importance of a concerted policy mix that supports the economy, ahead of a key ruling party election that will almost …
Read More »Experts call for a boost to green finance
MA XUEJING / CHINA DAILY Risk mitigation, innovative products are among the main recommendations China should improve the risk mitigation mechanism of green finance and develop innovative financial products whose underlying assets are energy equity such as emission credits and energy consumption quotas, to achieve a peak carbon emissions by …
Read More »Czech central banker Holub “quite likely” to support a 50bp hike in September, open to more
By Robert Muller PRAGUE (Reuters) – Czech central banker Tomas Holub has said he will likely support a 50 basis point rate hike at the next policy meeting on September 30, adding to signals that the central bank may make its biggest hike since 1997 next week. Speaking to Reuters …
Read More »US STOCKS-Wall St Expected to Lower at Open Amid Growth Concerns; attention turns to the Fed
(For a live Reuters blog on the US, UK and EU stock markets, click LIVE / or type LIVE / in a news window.) * Energy and bank stocks lead to pre-market declines * All eyes on the Fed policy meeting later this week * Futures decline: Dow 2.00%, S&P …
Read More »Beijing’s sovereign digital currency push to boost Hong Kong fintech startups
As Beijing moves forward with a sovereign digital currency and a national blockchain network, Hong Kong’s fintech community is using the city’s role as a bridge between mainland China and the rest of the world to seize opportunities for innovation. . China has been at the global forefront of developing …
Read More »Why Washington Is Worried About Stablecoins
Stablecoins might be the most ironically named innovation of the cryptocurrency era, at least in the eyes of many regulators and policymakers in Washington. These digital currencies promise to maintain their value, which is usually tied to a government currency like the dollar or the euro, by relying on stable …
Read More »All eyes on U.S. jobs data for clues on the Fed’s direction
Recap: US equity futures rose yesterday as European markets were mixed as investors watched key Eurozone economic indicators and waited for a US jobs report that could determine when the Federal Reserve will begin to close. withdraw its economic stimulus. Most Asia-Pacific stocks edged up while Chinese stocks declined amid …
Read More »Chinese credit beats Asian peers as Huarong worries fade
(Bloomberg) – Despite China’s regulatory crackdown on private companies and the China Evergrande group’s worsening woes, the nation was the place to go in Asia for corporate bond yields in August, and the optimism could persist. That’s because one of the worries hanging over the nation’s bond investors eased after …
Read More »Japan to promote green finance with common platform and scenario analyzes
A man wearing a protective mask walks past the Bank of Japan headquarters amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS / Kim Kyung-Hoon / File Photo FSA and BOJ to conduct scenario analyzes on banks and insurers FSA to work with Japanese stock exchange on …
Read More »Stocks stretch gains, hovering near record highs
Stocks gained on Tuesday, hovering near all-time highs as optimism about earnings and the economic reopening at least temporarily offset lingering concerns about the virus and monetary policy changes. The S&P 500 rose slightly. Major tech stocks including (AMZN) increased their gains and the Nasdaq outperformed to set an intraday …
Read More »Goldman Sachs and BofA see decade lost for emerging markets
(Bloomberg) – High commodity prices and earnings growth expectations trigger bullish bets on emerging market stocks after more than a decade of underperformance that has left them near a 20-year low by in relation to the actions of developed countries. Goldman Sachs Group Inc., Bank of America Corp. and Lazard …
Read More »Thailand’s first twin deficit in nearly a decade to hit the baht
BANGKOK, Aug.21 (Bloomberg): Thailand is heading for a rare current account deficit this year as the country misses billions of dollars earned from tourism, likely increasing pressure on the country’s already battered currency. Southeast Asia’s second-largest economy could post a current account deficit of $ 10.3 billion, or 2 percent …
Read More »GLOBAL MARKETS-Dollar, US yields rise, Asian stocks held back by Delta worries
By Alun John HONG KONG, Aug.11 (Reuters) – The dollar and US yields extended their gains in Asia on Wednesday, boosted by lower talks, while Asian stocks traded sideways amid fears about the spread of the coronavirus despite a record close on Wall Street. The dollar index hit its highest …
Read More »Stocks and treasury yields rise thanks to robust jobs report: markets are ending
(Bloomberg) – US stocks rose on Friday after a better-than-expected increase in the US payrolls fueled expectations that the Federal Reserve is approaching a withdrawal of stimulus measures. The S&P 500 hit a record, led by financials and materials, while the tech-rich Nasdaq 100 fell. Job growth in the United …
Read More »Singapore’s DBS increases payments as other lenders recover from COVID
SINGAPORE – Banks in Singapore eased their purse strings this week to reward investors on strong second quarter results, showing they are confident the recovery from COVID-19 remains on track despite setbacks in Asia. DBS Group Holdings, Southeast Asia’s largest lender, on Thursday announced interim payments to shareholders at 33 …
Read More »Stocks fall, Treasuries rise in a context of growth Caution: markets are enveloped
(Bloomberg) – Asian stocks and US futures fell on Monday amid concerns over the impact of the Covid-19 outbreaks and high inflation on the economic outlook. T-bills soared and oil slipped after an OPEC + supply deal. Stocks fell across the region, with Japan and Hong Kong underperforming. China opened …
Read More »Asian equities mixed after growth data from Powell and China: markets shroud
(Bloomberg) – Asian stocks were mixed on Thursday as traders digested a slowdown in Chinese growth along with the signal from Federal Reserve Chairman Jerome Powell that more US economic progress is needed before stimulus measures can be reduced. Crude oil has slipped. Shares fell in Japan, stabilized in China, …
Read More »COVID Delta upsurge helps control bulls in stocks and commodities
US equity futures fall, European equities retreat US CPI and Fed’s Powell feature prominently this week Chinese data could disappoint after policy easing ECB Lagarde says policy will change at next meeting LONDON, July 12 (Reuters) – An upsurge in new infections caused by the Delta coronavirus variant capped gains …
Read More »Finance ministers meet in Venice to finalize global tax deal
“I think first of all this is an economic capitulation that other countries are happy to accept, as long as America makes itself so uncompetitive,” Brady said. “And second, I think there are too many competing interests here for them to finalize a deal that would be acceptable to Congress.” …
Read More »Know your know-how
Sakchai Peechapat, CEO of Tisco Financial Group. Tisco Financial Group plans to leverage its expertise in auto lending and wealth management to expand its business once the pandemic is under control, managing director Sakchai Peechapat told the Bangkok Post in an exclusive interview. Car lending is the group’s core business …
Read More »Don’t use crypto for payments
The Bank of Thailand (BoT) claims that companies requesting “digital assets such as bitcoins and ether as payment for goods and services’ are fighting for a bruise. The central bank said Thursday that it will coordinate with Thailand’s Securities and Exchange Commission to mitigate risks associated with the country’s financial …
Read More »In Laos’ future, its financial stability depends on China
Bangkok [Thailand], July 3 (ANI): Laos, a country in Southeast Asia, is struggling to cope with its debt in a context of deterioration of sovereign ratings and depletion of foreign exchange reserves. Writing in the Asia Times, Peter Janssen said that the future of the country’s economy and its financial …
Read More »Prayut’s government stuck in a self-made trap
People get Covid vaccines on May 30 at CentralWorld. Spiraling infections and jab shortages can lead to political upheaval. VARUTH HIRUNYATHEB Thailand’s multi-layered crises, from persistent viral infections and vaccine shortages to economic damage, are turning into a potential political upheaval. The devastating Covid-19 crisis is worse than Tom Yum …
Read More »South Korea raises 2021 growth forecast to 4.2% on record exports
South Korea has largely raised its economic forecast for this year amid expectations of record exports and a rebound in consumption as immunization levels rise.The country’s gross domestic product is expected to grow 4.2 percent this year, a percentage point higher than the previous projection at the end of last …
Read More »Maximum central bank support marks new phase for global recovery
(Bloomberg) – The pandemic recovery is in a new phase as several central banks begin or plan to withdraw emergency stimulus measures, gradually shifting from peak support and opening up divergences in international policymaking. The Federal Reserve’s crab march towards when it cuts aid has cemented the global pivot, with …
Read More »Fed Inflation Split, China Leads US, Rises in 2023: Eco Day
(Bloomberg) – Good Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to get you through the weekend: Fed officials have largely stuck to their scenario that the explosion of inflation in the United States as the pandemic recedes will prove that the Chinese central bank is one …
Read More »Emerging Asia faces risk of capital flight as Fed announces rate hike
SINGAPORE – Capital has started to flow out of emerging Asian markets as coronavirus outbreaks slow the region’s economic recovery as investors consider the likelihood of an interest rate hike in the United States and Europe. International investors sold $ 500 million more stocks and bonds than they bought in …
Read More »Growing confidence drives stocks up
If you build a sandbox, will they come? Recap: Global stocks extended their record highs with the MSCI All Country World Index, poised for a fourth weekly advance amid rising confidence. European stocks rallied after the European Central Bank raised its inflation forecast and renewed its pledge to aggressively buy …
Read More »UPDATE 1-Foreign currency deposits in China swell to $ 1.01 trillion in May
(Add details and background) SHANGHAI, June 10 (Reuters) – China’s foreign currency deposits hit a record high of $ 1.01 trillion in late May, from $ 1 trillion a month earlier, the central bank said Thursday. Foreign currency deposits have grown steadily since last year, boosted by China’s huge trade …
Read More »Firm backs 2.25 billion baht for employment plan
Firm backs 2.25 billion baht for employment plan First group of new graduates to benefit The cabinet on Tuesday approved the allocation of 2.25 billion baht from a central budget earmarked for emergency purposes in fiscal year 2021 to hire 10,000 new college graduates for a year, with the aim …
Read More »FirstFT: Today’s best stories | Financial Time
Hello. This article is an on-site version of our FirstFT Asia newsletter. register here to receive the newsletter directly in your inbox every weekday morning The G7 tax deal struck by the world’s leading advanced economies this weekend is the first substantial evidence of relaunched international cooperation since President Joe …
Read More »Crypto Week at a Glance: Consolidation Continues with Looming Breakout
The past week has been a period of consolidation as the market attempts to break out of current levels to regain bullish trends. We had the Miami Bitcoin 2021 conference, yet another tweet from Musk that got the market moving, and the continued and unsurprisingly march of crypto and blockchain …
Read More »GLOBAL MARKETS – Asia shares 3-month highs, caution ahead of US payrolls
* Asian scholarships: https://tmsnrt.rs/2zpUAr4 * SYDNEY, June 3 (Reuters) – Asian stocks were slightly lower from a recent three-month high on Thursday, with China somewhat weaker as investors weighed in inflation concerns ahead of key US economic data as oil prices have risen to almost a year and a half. …
Read More »Bank of Korea sees financial system threat in leveraged crypto trading
Bloomberg New Zealand joins Canada and reporting rates could increase next year (Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. New Zealand’s central bank has forecast that its official cash rate may start to rise in the second half of …
Read More »“ World’s Biggest Bank Burglars ”: North Korean Army of Hackers
Analysts say the nuclear-armed North Korea is at the forefront of cyberwarfare, stealing billions of dollars and posing a clearer and more present danger than its banned weapons programs. Pyongyang faces multiple international sanctions for its atomic bomb and ballistic missile programs, which saw rapid progress under North Korean leader …
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