STORY: She added, "we do think you're close to that point where if (oil prices) were to continue and hold at this level for an extended period of time, it's going to put pressure on the economy. And so hopefully it's one of the other things that would offer for the Fed(eral Reserve) sitting tight and staying pat for an extended period of time. Because it's going to take time for that to filter all the way through the numbers in the economy."
Singapore’s central bank is increasing its deposit insurance coverage per depositor to a maximum of S$100,000 ($73,160) from April next year.
Cash investments are seeing some of the largest yields in more than decade.
Shares in embattled Chinese property developer Evergrande plummeted Monday, following the announcement that it would be unable to carry out a restructuring plan intended to guarantee its survival.That came two days after the company said meetings on the restructuring scheduled for Monday and Tuesday would not take place, saying it was "necessary to reassess the terms" of the plan in order to suit the "objective situation and the demand of the creditors".
A senior Nomura banker has been banned from leaving mainland China, a move connected to a long-running investigation into the country’s top tech dealmaker Bao Fan, according to people familiar with the matter. The restrictions on Charles Wang Zhonghe, chair of investment banking for China at the Hong Kong arm of Japanese bank Nomura International, only applied to travel outside mainland China and he was not in detention, one person familiar with the matter said.
Customers from China in spotlight as waiting times stretch to four months to open accounts
China Reform Holdings Corp, a Chinese manager of state assets, plans to raise at least 100 billion yuan ($13.70 billion) for a fund that will invest in emerging industries, the China Business News reported on Sunday. China's state-owned enterprises (SOEs) have been ramping up investment in emerging and strategic industries such as artificial intelligence, new energy, new materials and biotech as part of Beijing's SOE reforms. China Reform Holdings was set up in 2021 and tasked with deepening SOE reforms.
HONG KONG (Reuters) -China Evergrande Group's latest trouble in firming up a long-pending debt restructuring plan led to a sell-off in its and peers' shares on Monday, as worries resurfaced about the crisis-hit property sector after a brief respite. Evergrande, the world's most indebted property developer, which has become the poster child of China's property crisis, has been working to get its creditors' approval for a debt restructuring plan after having defaulted in 2021. Under the plan unveiled in March this year, Evergrande proposed options to offshore creditors including swapping their current debt holdings into new notes with maturities of 10 to 12 years.
Stock markets were mixed Monday as investors contemplated the possibility the Federal Reserve will hike interest rates again and keep them at three-decade highs with officials struggling to contain inflation.And Asia struggled Monday, with Hong Kong off 1.8 percent while Shanghai, Seoul and Bangkok were also lower.
Investing.com - The stock market's September turbulence appears to be unfolding as expected. Historical patterns, including election year cycles and ten-year cycles, suggest that the final quarter of the year could see a robust performance.
The dollar rose against the yen to an almost 11-month high on Monday, keeping traders focused on Japan intervention risks after the Bank of Japan and Governor Kazuo Ueda quashed hopes of any imminent move away from its stark ultra-loose monetary policy. In the broader currency market, the dollar steadied after last week's gains as the Federal Reserve surprised markets by signalling U.S. rates would need to stay higher for longer than initially expected. The yen was last flat at 148.38 per dollar after falling to its lowest level of 148.49 per dollar since late October.
India's rapid economic growth, the fastest among major economies, is under threat as increasing household debt payments diminish consumer spending power. This trend, highlighted by recent data from the Reserve Bank of India, has emerged as a significant concern for the robustly expanding economy.
Savers could enjoy tax cuts worth tens of thousands of pounds under plans being discussed by Jeremy Hunt to raise caps on Isas.
Geo Energy aims to produce 25 million tonnes of coal a year from the acquired mine
Electric vehicle manufacturers face a £3.7bn bill over the next three years unless the EU drops the introduction of tariffs on trade between the bloc and Britain, industry bosses have said.
Following the completion of the divestment, CLAS has 12 properties in France that are predominantly located in Paris.
Citigroup chief executive Jane Fraser has warned the bank’s 240,000 employees it is time to sign up to her overhaul of the bank or “get off the train” as she cuts jobs and hacks back the lender’s top-heavy management structure. The uncompromising message appeared to mark a change in tone to some employees given Fraser has cultivated an image of approachability during her more than two years at the head of Citi. It came days after she announced the biggest restructuring in 15 years as she seeks to reorient the bank around its business units rather than its geography.
Asia kicks off the last week of the quarter on Monday, with markets badly bruised by the surge in U.S. bond yields following the Federal Reserve's hawkish pause last week and investors looking to get through the week without any further whiplash. Benchmark two- and 10-year Treasury yields are the highest since 2006-07, 10-year real yields have broken above 2%, and asset markets around the world are buckling under the higher-for-longer U.S. rate outlook. The dollar is strengthening as a result, and as emerging market investors are all too aware, the combination of high U.S. debt servicing costs and a strong dollar are rarely a welcome combination.
One thing to start: I’m in New York this week and I hope to see lots of you at our Future of Asset Management North America event taking place on Wednesday and Thursday at etc.venues 360 Madison. Total assets across its stable of exchange traded funds peaked at $60.3bn in February 2021, had slumped to $11.4bn by December and have swung back to around $25bn in assets today.
Investing.com-- Oil prices rose in Asian trade on Monday, rising after their first negative week in four as the prospect of tighter supplies largely offset concerns over a potential slowdown in demand.
* Indian rupee set for worst day in three weeks * U.S. dollar hovers near six-month highs * Asian stocks trade mixed * Indonesian rupiah leads the decline By Roushni Nair Sept 25 (Reuters) - Most Asian currencies struggled for direction on Monday, with the Indian rupee leading losses, after hawkish comments from the U.S. Federal Reserve last week set the stage for further rate hikes and bolstered the greenback. The rupee had strengthened last week following JPMorgan's decision to include India in its flagship emerging market index, but failed to sustain the rally amid pressure from the greenback and elevated U.S. yields. Analysts at Barclays project the Reserve Bank of India will have little reason to change the current policy settings when the central bank meets next week to discuss monetary policy.
