Mar. 6 – With Standard Chartered celebrating 10 straight years of rising profits, Tara Joseph talks to Asia CEO Jaspal Bindra about promising markets and a possible move of its headquarters to the region.
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(Reuters) – Asian shares extended gains on Wednesday as Wall Street’s record close encouraged investors to take on more risk amid signs of a continuing U.S. economic recovery and globally accommodative monetary conditions. The dollar eased 0.2 percent .DXY against a basket of key currencieswhile copper and crude oil prices rose as did commodity-linked currencies, often linked to risk appetite. The …
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(Reuters) – China’s Export-Import Bank will provide a loan of $278.2 million to Sri Lanka to help lay a rail track to a key port which Beijing is building that has stoked concern in neighboring India. The port of Hambantota on the southern tip of the Indian Ocean island nation is envisioned as a refueling and service point for cargo …
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March 1st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist [fve]http://www.youtube.com/watch?v=ym_TtSPojtk[/fve] Weak Chinese PMIs indicating a slowdown in the world’s second largest economy together with the US sequesters kicking off as US lawmakers failed to pass two bills on Thursday. European stock markets are feeling the heat as a result, pressured further by softness in Asian markets overnight. China …
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The continuing ascension of China in South Asia is not a recent world development. However, the increasing power that China asserts on South Asia is now catching a lot of attention. China has always played the appeasement game well and continues to do so today. It’s dominance over South Asia; especially South East Asia is noteworthy. China has always believed …
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The Hurun Report, compiled by British accountant and former Forbes Rich List researcher Rupert Hoogewerf, found that Asia had 608 dollar billionaires, compared with North America’s 440 and 324 in Europe. It is believed to be the first time Asia has been named as home of the largest proportion of super-rich on any global list. Nonetheless the US, which has …
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CHINA’S reliance on trade may decrease further as the country turns toward domestic consumption to drive the economy, the top customs authority said yesterday. The total value of imports and exports accounted for 47 percent of China’s gross domestic product in 2012, a sharp fall from a record 67 percent in 2006 and 50 percent in 2011, the General Administration …
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Bangladesh Bank, the country’s monetary authority, is reviewing its Foreign Exchange Act with an eye on liberalising how the country deals with foreign capital, says Hassan Zaman, chief economist. The government is also considering issuing its first international bonds in order to create a yield curve. “I can’t share details of what’s under review,” Zaman says, “but it is comprehensive. …
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China’s manufacturing contracted for an 11th straight month, a private survey found, increasing pressure on the government to bolster growth in the world’s second-largest economy. The purchasing managers’ index from HSBC Holdings Plc (HSBA) and Markit Economics was at 47.9 for September from 47.6 in August. Export orders declined at the fastest pace in 42 months and purchasing activity in …
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MANILA, Philippines – Asian banks are in a mad scramble to raise US dollars to meet the stiff capital requirements under the Basel III framework. Banks are sweeping as much dollars as can be found in the global market as European borrowers are holding on to their dollars “during these hard times.” According to FinanceAsia, Asian borrowers want a steady …
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