By Stella Qiu and Kevin Yao BEIJING (Reuters) – China’s central bank said on Monday it would cut the amount of cash that banks must hold in reserve, its second such move this year, releasing 1.2 trillion yuan ($188 billion) in long-term liquidity to bolster slowing economic growth. The People’s Bank of China (PBOC) said …
China frees up $188 billion for banks in second reserve ratio cut this year Read More »
By Brenda Goh SHANGHAI (Reuters) -Alibaba Group Holding Ltd said it will reorganise its international and domestic e-commerce businesses and replace its CFO – changes that come as the tech giant grapples with an onslaught of competition, a slowing economy and a regulatory crackdown. It will form two new units – international digital commerce and …
Alibaba overhauls e-commerce businesses, names new CFO Read More »
By Leika Kihara TOKYO (Reuters) – Asia is faring much better than other regions in averting a jump in inflation caused by supply shocks, and is less vulnerable to an unwelcome wage-driven spike in prices, Bank for International Settlements (BIS) head of research Hyun Song Shin said. In the United States and Europe, a sharp …
Asia faring better in staving off inflation risk, says BIS executive Read More »
By Marc Jones LONDON (Reuters) – The newly-discovered Omicron variant shows policymakers and financial markets cannot lower their guard on COVID-19 and will have to calibrate their policies carefully, the Bank for International Settlements said on Monday. Dubbed the central bank to the world’s central banks due to its regular gatherings of decision makers, the …
Omicron shows policymakers can’t let guard down -BIS Read More »
KUALA LUMPUR (Reuters) – Malaysia’s derivatives exchange is due to begin night trading for its key palm oil futures contract and other products on Monday, allowing investors to hedge market movements during U.S and European hours. The Bursa Malaysia Derivatives Exchange (BMD) manages Malaysia’s crude palm oil futures contract, which sets the global price benchmark …
Malaysia exchange to begin night trading for palm oil futures Read More »
BEIJING (Reuters) -China’s top government thinktank on Monday recommended the government set an economic growth target of above 5% for next year as the economy slows due to the persistent COVID-19 cases and high commodity prices. “A target of above 5% leaves a certain room of leeway, which is a relatively prudent call. It would …
Chinese govt thinktank proposes growth target of above 5% for 2022 Read More »
BEIJING (Reuters) – China’s politburo, the country’s top-decision making body, said on Monday that it would keep economic operations within reasonable range in 2022, the official Xinhua news agency said. China will continue to implement proactive fiscal policy and prudent monetary policy next year, the politburo said after a meeting on the economic conditions. (Reporting …
China will keep economic operations within reasonable range in 2022 Read More »
HONG KONG (Reuters) -Hong Kong property developer New World Development said on Monday it plans to sell 300 new homes at a discount of roughly 50% to the market price in the city’s first subsidised private housing project. As part of a move to provide more affordable housing in one of the world’s most expensive …
Hong Kong developer to offer 300 homes at 50% discount to market price Read More »
HONG KONG (Reuters) – Ride-hailing giant Didi Global’s move to withdraw from the New York stock exchange has put a spotlight on other U.S.-listed Chinese firms and whether more will jump ship to Hong Kong and elsewhere. Didi’s plan to withdraw may create an even deeper chill after this year’s drop-off in Chinese firms’ listings …
Factbox-U.S.-listed Chinese firms with secondary listings at home and Hong Kong Read More »
HONG KONG (Reuters) – UBS Group AG has offered its Hong Kong staff up to HK$2000 ($256.45) a day to help cover mandatory hotel quarantine costs as the city maintains some of the strictest COVID restrictions in the world. In a memo seen by Reuters, the bank said full-time employees up to executive director level …
UBS gives Hong Kong staff COVID quarantine cash -memo Read More »
