SINGAPORE (Reuters) – Citigroup Inc will wind down its consumer banking business in China in a move that will affect about 1,200 local employees, the bank said in a statement on Thursday. The group had announced a plan in April 2021 to exit its Chinese consumer banking business as part of a global strategy to …
Citi to wind down consumer banking in china, affecting about 1,200 staff Read More »
By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) -The Biden administration plans to remove some Chinese entities from a red flag trade list, a U.S. official told Reuters on Wednesday amid closer cooperation with Beijing. The plan to remove them soon from the so-called “unverified” list is thanks to greater willingness from the Chinese government …
BEIJING (Reuters) – China’s BYD Co will launch a new “professional and personal” electric car brand in 2023, Brian Luo, the company’s branding assistant general manager, said on Thursday. The new brand will be an addition to Yangwang, a premium brand slated for launch in the first quarter of 2023. (Reporting by Zoey Zhang and …
China’s BYD to launch new “professional and personal” EV in 2023 – executive Read More »
By Selena Li HONG KONG (Reuters) -A small group of HSBC’s Hong Kong-based retail investors are seeking support to put a resolution to the bank’s 2023 annual meeting calling on it to restore its pre-pandemic dividend and set a plan to spin off assets. HSBC “underperforms its peers, violates dividend commitments (and) ignores shareholders’ interests,” …
HSBC’s disgruntled HK retail shareholders campaign for spinoff Read More »
By Upasana Singh (Reuters) – Investors were most bullish on the Singapore dollar and the Thai baht since the Russia-Ukraine conflict broke out in February, as China easing its strict COVID curbs and hopes of major central banks tempering the monetary policy lifted sentiment, a Reuters poll showed. Long positions on most other emerging Asian …
Asian FX bulls return as easing China COVID curbs improves outlook: Reuters poll Read More »
(Reuters) – Foreign investors were net buyers of Japanese stocks last week, as worries about the U.S. Federal Reserve’s interest rate hikes eased and sentiment improved after China eased its COVID-19 restrictions. Overseas investors purchased Japanese stocks worth a net 338.5 billion yen ($2.50 billion) in the week ended Dec. 8, after selling a net …
Foreigners turn net buyers of Japanese stocks last week Read More »
By Anshuman Daga SINGAPORE (Reuters) – Grab Holdings Ltd, Southeast Asia’s biggest ride-hailing and food delivery firm, is rolling out cost-cutting measures to cope with an uncertain macroeconomic situation, the Singapore-based company’s chief executive told staff in a memo. The measures include a freeze on most hirings, salary freezes for senior managers and cuts in …
HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) said on Thursday it would raise its base rate charged through the overnight discount window by 50 basis points to 4.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. The U.S. central bank raised interest rates by half a percentage …
Hong Kong central bank raises rates after Fed hike, HSBC follows Read More »
By Jihoon Lee SEOUL (Reuters) – South Korean President Yoon Suk-yeol said on Thursday the government will ease property market regulations more quickly to stabilise the market amid high interest rates. “As house prices are on a falling trend due to high interest rates, (the government) will lift regulations on the demand side at a …
South Korea to loosen property market regulations more quickly Read More »
By Laura Sanicola (Reuters) -Oil settled up more than $2 on Wednesday after OPEC and the International Energy Agency (IEA) forecast a rebound in demand over the course of next year and as U.S. interest rate hikes are expected to ease further alongside slowing inflation. Brent crude futures settled up $2.02, or 2.4%, to $82.70 …
Oil prices climb by $2 amid forecasts for 2023 demand uptick Read More »
