BENGALURU: Indonesia’s rupiah gained more than half a percent upon Friday, hitting a two-month high, driven partly by goals that its main bank will increase interest rates later this particular month, while most additional Asian emerging currencies remained subdued. Read complete story Continue Reading
KUALA LUMPUR: Bank Negara has assured customers that the nation’s transaction systems remain secure following a potential information breach incident concerning iPay88 (M) Sdn Bhd, a company giving payment gateway providers to banks plus merchants. Read full story Continue Reading
SINGAPORE – End user prices in Singapore are at a 13-year high and are estimated to rise higher being the notoriously pricey city-state, a bellwether intended for global economic growth trends, grapples by using imported inflation, improved geopolitical risks not to mention fears its big trading partners usually are slowing down or on course for recession. Because easing most pandemic-related restrictions in […]
The content Bellwether Singapore buffeted by just global headwinds appeared 1st on Asia Times .
“OUR HEARTS ARE COLD” The “crisis of confidence” in China’s housing market points to structural imperfections, said Andrew Batson of Gavekal Dragonomics in a recent survey. Because of their large reliance on promoting apartments in advance, designers pursued business models that exposed buyers to the risk of not getting theirContinue Reading
BEIJING/HONG KONG: A Chinese property think tank owned by KE Holdings apologised on Thursday for sparking a “heated public discussion” with its report on rising housing vacancy rates in China, and said its assessment may not be sufficiently accurate. Read full storyContinue Reading
KUALA LUMPUR: The government remains proactive in ensuring the stability of the ringgit and the financial market, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz told the Dewan Negara today. Read full storyContinue Reading
SINGAPORE: Singapore has trimmed its growth forecast with regard to 2022, as the worldwide economic environment weakens additional amid challenges for example inflation and chronic supply chain interruptions. The Ministry of Business and Industry (MTI) said on Thursday night (Aug 11) how the country’s gross domestic product (GDP) with thisContinue Reading
As Joe Biden revels in a series of legislative victories in Washington, events in Moscow remind the US president that his troubles may be just beginning.
On Monday, United Co Rusal International PJSC, an aluminum producer listed in Moscow and Hong Kong, raised US$590 million in a first-of-its-kind debt sale in Russia. The reason it matters for Biden’s White House: the bonds were denominated in yuan.
Gazprombank, the lead manager of the deal, said it received about 100 orders from asset managers, banks, investment and insurance companies, and individuals.
It remains to be seen if such transactions amount to death by a thousand cuts to the US dollar. Yet the trend is emblematic of how economic policy errors are colliding with global reactions to Western sanctions on Moscow for its Ukraine invasion. The latter includes freezing hundreds of billions of dollars of Russia’s foreign currency reserves.
The post US Fed becoming Asia’s Public Enemy No. 1 appeared first on Asia Times.
BANGKOK: Thailand’s central bank raised its key interest rate for the first time in nearly four years on Wednesday, lifting it by a quarter point as expected to fight surging inflation as the economic recovery gains momentum. Read full storyContinue Reading
HONG KONG: China’s real estate crisis is casting a darkening cloud over governance and financial prospects of once highly valued property management companies, triggering a rout in their shares and making investors cautious. Already battered share prices have fallen a further 7 per cent this month as investors have reactedContinue Reading