BEIJING (Reuters) – China firmly opposes U.S. inclusion of two more companies, and some of their units, on a list of entities accused of alleged human rights abuses, the commerce ministry said on Monday. The action taken by the United States lacks factual basis and transparency, the ministry said, adding China will take necessary measures…
ZURICH (Reuters) – Swiss financial regulator FINMA has specified the central elements of its regulatory requirements for the merged UBS and Credit Suisse, it said on Monday. The regulator also said it “welcomes UBS’s strategic focus, which foresees a rapid reduction of risk in investment banking,” in a statement after UBS formally completed its emergency…
SINGAPORE (Reuters) – Singapore lender DBS Group is stepping up its focus on the business of family offices, where its assets have surged in the last two years. Southeast Asia’s largest bank by assets is introducing a new investment platform tailored towards the needs of family offices, which are one-stop firms that manage the portfolios…
TAIPEI (Reuters) – Taiwan’s central bank is expected to leave its policy rate unchanged this week, according to most economists polled by Reuters, as inflationary pressures ease and the island’s export-driven economy faces weak external demand. The central bank is likely to keep the benchmark discount rate at 1.875% at its quarterly meeting on Thursday,…
(Reuters) – It’s a week of meetings of central bank heavies, with the U.S. Federal Reserve, European Central Bank and Bank of Japan all due to announce decisions. The Fed is tipped to stop its rate increases, for now, the ECB, to keeping going, for now, while the BOJ remains in stop mode, for now….
BEIJING (Reuters) -China deployed a reconnaissance aircraft over Pacific waters east of Taiwan last week that Chinese media said monitored and gathered intelligence on an exercise involving the navies of the United States, Japan, France and Canada. A Y-9 cargo plane variant fitted with intelligence-gathering equipment most likely monitored and collected intelligence on the exercise,…
BEIJING (Reuters) – China’s property sector is expected to grapple with “persistent weakness” for years, Goldman Sachs analysts said, adding that its problems would continue to drag on the country’s economic growth. Weaknesses are particularly pronounced in lower-tier cities and private developer financing, they said in a client note, adding that policymakers, who have vowed…
(Reuters) -Entities backed by Singapore’s Temasek and Chinese investment firm HighLight Capital agreed to a deal worth 1.06 billion yuan ($148.7 million) for stakes in a unit of VIVA Biotech Holdings, the pharmaceutical service company said late on Sunday. The deal, which will dilute VIVA Biotech’s stake in VIVA Shanghai to about 75.79% from 100%,…
(Reuters) – Australian lender Westpac Banking Corp will cut around 300 jobs in its consumer and business banking segments at a time of strong profit growth amid rising interest rates and soaring inflation, a local trade body said. The Finance Sector Union of Australia (FSU) said on Friday the country’s third-largest bank would reduce headcount…
By Lewis Krauskopf (Reuters) – A look at the day ahead in Asian markets from Lewis Krauskopf. Asian markets will turn their attention to a series of central bank meetings after ending last week on a buoyant note. MSCI’s gauge of world stock markets on Friday hit its highest point in 13 months. Wall Street…
