Financial institutions in the South-east Asian region need to adopt cutting-edge technologies to stay future-ready, explains professional services organisation EY.
QATAR’S sovereign wealth fund has increased its stake in Credit Suisse to just under 7 per cent, becoming the Swiss bank’s second-largest shareholder after Saudi National Bank, in a sign that its Gulf investor base is growing in importance.
GERMANY’S financial regulator BaFin considers another sudden and sharp interest rate hike to be one of the greatest threats currently facing the banking sector, according to a report published on Monday (Jan 23).
NATIONAL Australia Bank has created its own stablecoin pegged to the Australian dollar, a move that it says will help large institutional customers with transactions that use blockchain technology.
JAPAN’S finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday (Jan 23), just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt.
GOLDMAN Sachs’ asset management arm will significantly reduce the US$59 billion of alternative investments that weighed on the bank’s earnings, an executive told Reuters.
THE Treasury Department has about US$500 billion of extraordinary measures available that will allow the US to dodge a payments default as Congress works out an agreement on raising the debt limit, which the nation hit Thursday (Jan 19).
VOLATILITY in the euro has calmed after a tumultuous 2022, and is sliding at the fastest pace ever. This has led some currency players to think the currency is worth starting to bet on in greater swings.
