On both sides of the Pacific, in China and the US, the destructive combination of recession and inflation is evolving in a classic way, to include bank failures and the popping sound of property, asset and financial instrument bubbles as they disappear in a foam of bankruptcy, negative equity and failure. If there is a […]Continue Reading
US regulators’ swift reaction to the collapse of Silicon Valley Bank and two other lenders partially restored calm to markets, but concerns remain over the stability of the global financial system. The government is racing to orchestrate a US$30 billion rescue of First Republic Bank by the nation’s largest financial institutions after the California lender’s […]Continue Reading
The country’s ageing population and shrinking workforce are a threat to its economic growth.Continue Reading
SINGAPORE: The exposure that Singapore banks DBS, OCBC and UOB have to troubled banking giant Credit Suisse are “insignificant”, the Monetary Authority of Singapore (MAS) said on Thursday (Mar 16). Singapore’s banking system remains sound and resilient, MAS said in response to media queries. “Banks in Singapore are well-capitalised and conduct regularContinue Reading
SINGAPORE: Asian stocks tumbled on Thursday (Mar 16), and investors bought gold, bonds and the US dollar as fear of a banking crisis was reignited by fresh troubles at Credit Suisse, leaving markets on edge ahead of a European Central Bank (ECB) meeting later in the day. Japan’s Nikkei fellContinue Reading
However, the developments sent shivers through Asian markets as memories of the 2008 global financial crisis came flooding back. Among banks, Japan’s Sumitomo Mitsui Financial and Mitsubishi UFJ Financial shed more than 2 per cent apiece, while South Korea’s Hana Financial Group gave up more than 3 per cent andContinue Reading
As political split screens go, the one playing out in Washington and Beijing this week couldn’t be more different. In the US capital, the Federal Reserve and the Treasury Department are scrambling to contain the worst bank failure — Silicon Valley Bank — since 2008. In Beijing, the energy is future-oriented as leader Xi Jinping’s […]Continue Reading
Silicon Valley Bank and Signature Bank failed with enormous speed – so quickly that they could be textbook cases of classic bank runs, in which too many depositors withdraw their funds from a bank at the same time. The failures at SVB and Signature were two of the three biggest in US banking history, following […]Continue Reading
The Thai stock exchange fell more than 3%, almost 50 points, yesterday in tandem with most Asian stock markets due to fears of contagion effects from the collapse of US banks.Continue Reading
To mark International Women’s Day this month, extraordinary women from a wide range of fields who have inspired change in their communities through the pursuit of excellence have been named the Bangkok Post’s Women of the Year.Continue Reading