Featured Archives • Page 908 of 1330 • Financial News

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Three-month compounded Sora crosses 3% for the first time since 2007

THE three-month compounded Singapore Overnight Rate Average (Sora) rate, which is pegged to most floating home loan packages in Singapore, has passed the 3 per cent mark for the first time since 2007.

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Credit Suisse’s investment bank draws interest from Saudi crown prince: WSJ

INVESTORS including Saudi Arabia’s crown prince and a US private-equity firm run by a former Barclays CEO have shown interest in investing US$1 billion or more in Credit Suisse’s new investment banking unit, the Wall Street Journal reported on Sunday.

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Sam Bankman-Fried says he will testify before House, without committing to date

SAM Bankman-Fried says he will testify before the House Financial Services Committee after he’s finished “learning and reviewing” the events that led to the implosion of FTX.

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Australia set to raise rates as tightening cycle approaches end

AUSTRALIA is set to raise interest rates as it closes in on the end of its tightening cycle, while nearby New Zealand just delivered a record hike and is poised to move higher, underscoring different central bank outlooks at year’s end.

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Inflation will return to goal, say German, French central bankers

EUROPEAN Central Bank (ECB) officials from the region’s two biggest economies said they are determined to bring record inflation back to their 2 per cent target.

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UniCredit to pay bonus to staff to help with rising living costs

UNICREDIT will give employees in Italy a one-off payment of 2,400 euros (S$3,408.2) to reward productivity and help them to weather rising prices, Italy’s second-biggest bank said on Friday (Dec 2).

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Japan eyes up to 43t yen for 5-year defence spending plan

JAPAN is set to earmark 40 trillion to 43 trillion yen (S$402.8 billion to S$433 billion) for defence spending over five years from April 2023, three sources told Reuters on Friday (Dec 2).

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Goldman warns of bonus cuts after bumper haul

GOLDMAN Sachs’ traders, on the way to posting their biggest revenue haul in more than a decade, are in for a surprise as cost pressures force the firm’s leadership to cut their year-end bonuses.

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Philippine central bank governor voices caution over plans to create 275b peso sovereign fund

THE Philippines’ central bank governor on Friday voiced caution over a legislative proposal to create a sovereign wealth fund overseen by President Ferdinand Marcos Jr, saying transparency over its governance would be key.

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China’s yuan set for best weekly gain in two years; bumpy road ahead

CHINA’S yuan edged lower against the dollar on Friday but is on track to post its biggest weekly gain in two years, buoyed by expectations of a slower pace in U.S. rate hikes and China’s gradual exit from its zero-Covid-19 policy. Traders expect the yuan’s recovery to be slow next...

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