China issues draft rules to regulate financial holding companies’ related transactions

SHANGHAI: China’s central bank issued draft rules on Tuesday (Aug 30) to regulate related transactions of financial holding companies. Such transactions must conform to rational commercial principles, be backed by genuine businesses and be priced fairly, the People’s Bank of China said in a statement. In addition, the transactions shouldContinue Reading

What Powell could learn from Rhee

TOKYO – As US Federal Reserve Chairman Jerome Powell rocks and roils global markets, he may have an unlikely but pivotal ally in Seoul.

Markets everywhere are still quaking over Powell’s August 26 speech in Jackson Hole, Wyoming, where he warned that higher interest rates will cause “some pain” and that the Fed’s tightening cycle may persist “for some time.”

Yet Bank of Korea Governor Rhee Chang-yong seems less shaken than most. That’s an intriguing crouch given how the Fed’s last big rate-hike campaign in 1994 and 1995 devastated South Korea’s economy, along with those of Indonesia and Thailand.

But Korea’s economy has changed radically since the 1997-98 Asian Financial Crisis. And more recently, the BOK has accepted inflationary realities and utilized its brake pedal well before the Fed decided to act.

The post What Powell could learn from Rhee appeared first on Asia Times.

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Little Leaguer Easton Oliverson is heading home to Utah to continue recovering from critical skull injury

Little League participant Easton Oliverson is making his way back to Utah on Tuesday after “fighting for his life” following a fall from a bunk bed two weeks ago which remaining him with a head fracture and necessary him to be airlifted to a hospital, based on an Instagram account created to provide updates on his recovery.Continue Reading

CTOS, PropertyGuru sign MOU to advance proptech innovation

Wll leverage both parties’ solutions to address property sector’s needsTo promote understanding of credit wellness & real estate investment CTOS Data Systems Sdn Bhd, the particular wholly owned subsidiary of CTOS Electronic Berhad, has signed a memorandum associated with understanding (MoU) with PropertyGuru Group to collaborate on advancements in property-related technologies…Continue Reading