THE dollar edged up against major currencies on Friday (May 17) but was still headed for a weekly fall, as market speculation continues to swirl about the timing of Federal Reserve rate cuts amid signs of cooling inflation and a softening US economy.
PING An Asset Management, HSBC Holdings’ largest shareholder, will continue to hold its investment in the Asia-focussed lender, a source close to the Chinese fund manager said on Friday (May 17), after reports it was considering selling more shares.
HONG Kong launched a pilot programme enabling digital yuan payments through major Chinese banks, the first example of China’s currency project being deployed beyond the mainland.
INDIA’S biggest ever high-yield rupee corporate bond, held by a number of global private credit funds, is casting a spotlight on pockets of stress within the nation’s credit markets.
DUTCH bank ABN Amro said on Friday (May 17) its French private bank branch Neuflize OBC had entered exclusive negotiations with BNP Paribas Cardif to form a strategic partnership in life insurance in France.
CHINA is widely expected to hold benchmark lending rates steady on Monday (May 20), a Reuters survey showed, although expectations are growing for a cut in the mortgage reference rate as the authorities scramble to boost housing.
HIGHER electricity demand in Laos due to cryptocurrency mining and erratic rainfall have led to power shortages, an advisor to its state-run utility said, revealing challenges to the nation’s prospects as a hydropower exporter to South-east Asia.
CHINA’S first issuance of this year’s special sovereign bonds on Friday (May 17) is expected to see solid demand, according to strategists and gauges of sentiment in the bond market.
HSBC Holdings is rolling out accounting and tax tools for its small United Kingdom business customers, who will soon have to give the government a lot more information on their finances.
MONEY laundering accused Su Jianfeng had allegedly worked with a Singapore-based businessman to sell properties in Dubai worth tens of millions to foreigners in Singapore, a data leak of property transactions showed.
