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China’s mega banks plan funding spree to plug capital shortfall

CHINA’S megabanks are planning at least 40 billion yuan (S$7.7 billion) of bond sales, kicking off a major funding push to comply with global capital requirements by early 2025.

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PBOC’s Yi says China to achieve GDP target, property improving

CHINA is expected to achieve around 5 per cent economic growth this year as the property market improves, according to People’s Bank of China (PBOC) governor Yi Gang.

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Bank Indonesia forecast to hold rates at 5.75% for rest of 2023: poll

BANK Indonesia is expected to keep its key interest rate unchanged at 5.75 per cent for a third consecutive meeting on April 18 and for the rest of this year as it evaluates the impact of previous hikes on inflation, a poll this week by Reuters found.

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BlackRock sells asset-backed bonds from Credit Suisse’s books

CREDIT Suisse Group has hired BlackRock to help sell a portfolio of structured bonds for the Swiss bank, becoming the latest entity to tap the money manager in a time of crisis.

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PayPal slashes outgoing CEO Schulman’s pay 31% to US$22 million

PAYPAL Holdings cut outgoing chief executive officer Dan Schulman’s pay by 32 per cent for last year after failing to meet its financial targets.

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London Stock Exchange partners digital trading platform to offer Bitcoin futures and options

LONDON Stock Exchange Group (LSEG) has teamed up with Global Futures and Options (GFO-X) to offer Britain’s first regulated trading and clearing in Bitcoin index futures and options derivatives, the companies said on Thursday (Apr 13).

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HSBC plans to add 30 private bankers in fresh India wealth push

HSBC Holdings plans to recruit about 30 bankers to service India’s ultra-rich through its private bank that the lender will launch in the country in the next few months, according to people with knowledge of the matter.

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Credit investors expect defaults to rise; most anticipate US recession this year

CREDIT portfolio managers are forecasting a rise in corporate defaults in the coming year, and more than four out of five participants expect a chance of a US recession in 2023, a survey by the International Association of Credit Portfolio Managers (IACPM) showed.

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India central bank begins evaluating potential bidders for IDBI Bank: sources

THE Reserve Bank of India (RBI) has begun evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank, three people familiar with the matter told Reuters.

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Latest 6-month Singapore T-bill offers cut-off yield at 3.75%

THE latest six-month Singapore Treasury bill (T-bill) closed its auction on Thursday (Apr 13) with a lower cut-off yield of 3.75 per cent.

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