Reuters Asia Business

By Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s central bank governor Perry Warjiyo secured on Monday approval from a key parliamentary body for his reappointment for a second term, after pledging to maintain a “pro-stability” monetary stance until 2024. Warjiyo’s five-year term as Bank Indonesia (BI) chief ends in May. Full parliamentary approval is still needed …

Indonesia central bank governor gets approval for new term from parliament body Read More »

By John O’Donnell and Stefania Spezzati LONDON (Reuters) -UBS Group emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender. The unprecedented move announced late on Sunday in Zurich capped a race against …

UBS swallows doomed Credit Suisse, casting shadow over Switzerland Read More »

BANGKOK (Reuters) – Production at the Benchamas oil field in the Gulf of Thailand was suspended immediately after an accident last week and remains offline, U.S. oil giant Chevron Corp said in a statement on Monday. The announcement comes after an accident last week at an oil storage vessel caused seawater to leak into the …

Chevron suspends production at Thai oil field Read More »

BEIJING (Reuters) – China has charged the former chairman of chip conglomerate Tsinghua Unigroup, Zhao Weiguo, with crimes including corruption and illegally earning profits for his friends and family, the country’s anti-graft watchdog said in a statement on Monday. Zhao is alleged to have handed profitable businesses to his relatives and friends to operate and …

China charges Tsinghua Unigroup’s former chairman with corruption Read More »

By Takahiko Wada and Leika Kihara TOKYO (Reuters) – The Bank of Japan on Monday appointed Seiichi Shimizu, whose market and technical expertise on the bank’s yield curve control (YCC) policy earned him the name “Mr. YCC”, as an executive director in charge of monetary policy. The appointment of Shimizu comes at a time the …

BOJ appoints ‘Mr. YCC’ to oversee monetary policy Read More »

MANILA (Reuters) – The Philippine central bank said on Monday the local banking system remains strong and the sector is ready to withstand possible shocks posed by the collapse of some banks in the United States. The Bangko Sentral ng Pilipinas (BSP) also said it will continue to closely monitor developments, assess their impact on …

Philippines central bank says local banking system ‘strong’, prepared to withstand shocks Read More »

BEIJING (Reuters) – China’s aluminium imports from Russia more than tripled in the first two months this year with a 266.2% surge, customs data showed on Monday, as buyers eyed rising Chinese demand and after Western firms shied away from trading Russian metals. Total imports from Russia into the world’s top aluminium consumer were 105,300 …

China Jan-Feb aluminium imports from Russia more than triple on-year Read More »

BERN (Reuters) – UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The deal includes 100 billion …

UBS to take over Credit Suisse, assume up to 5 billion Swiss francs in losses Read More »

SHANGHAI (Reuters) – Tullett Prebon’s Chinese joint venture will resume its data feed on Monday, sources close to the matter told Reuters, becoming the last Chinese money broker to come out of a short regulatory ban that triggered chaos in China’s $21 trillion bond market. Regulators on Wednesday barred money brokers from feeding data to …

Tullett Prebon’s China venture freed from money broker data feed ban Read More »