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THE World Bank, under pressure to do more to help developing countries cope with climate change, may change its internal lending guidelines to free up US$4 billion in lending capacity each year, World Bank president David Malpass told Reuters on Thursday (Feb 16).

CITIGROUP is seeing a boost to client activity in its wealth management business in Asia, a top executive at the lender said at a conference on Thursday (Feb 16).

BANK of America is planning to cut jobs in its investment bank, one of the last major holdouts to bow to expense pressures that have left no one immune.

THE dollar eased on Thursday (Feb 16) as investors scooped up higher-risk currencies after a run of strong US economic data reinforced confidence in the global growth outlook, even though the Federal Reserve looks set to raise interest rates further.

THE Green Finance Industry Taskforce (GFIT) is proposing a path in Singapore’s green and transition taxonomy for high-emissions industrial activities to qualify for sustainable financing despite challenges in determining setting thresholds.

THE Bank of Japan (BOJ) took steps on Thursday (Feb 16) to deter market players from short-selling government bonds in a fresh sign of the mounting difficulties of sustaining its yield control policy, which seeks to cap long-term interest rates at 0.5 per cent.

CREDIT Suisse Group said it has paid US$210 million to Georgian billionaire Bidzina Ivanishvili to date, as part of a long-running legal saga.

CREDIT Suisse Group said it has paid US$210 million to Georgian billionaire Bidzina Ivanishvili to date, as part of a long-running legal saga. At the same time, the Swiss bank is exiting distressed debt and special-situations trading, as part of its broader exit from risky and capital-intensive businesses.

INDONESIA’S central bank kept its key interest rate unchanged on Thursday (Feb 16), the first pause after six consecutive monthly hikes.

THE Philippine central bank raised its benchmark interest rate by 50 basis points to 6 per cent on Thursday (Feb 16), and flagged its readiness to do more to tame inflation, which is running at 14-year highs.