Reuters Asia Business

HANOI (Reuters) – Vietnam is preparing to loosen its tight leash on the dong currency, including possibly widening its trading band with the U.S. dollar again, in order to conserve its shrinking currency reserves, a source with direct knowledge of the matter said on Wednesday. The dong is a managed peg to the dollar and …

Exclusive-Vietnam may widen dong trading band again to conserve FX reserves – source Read More »

By Anshuman Daga and Lawrence White SINGAPORE (Reuters) -Standard Chartered’s third-quarter profit surged 40% as higher interest rates boosted the emerging markets-focused bank’s income, giving it ammunition to upgrade its revenue outlook despite a weakening global economy. StanChart, which earns most of its revenue in Asia, raised its income growth forecast for this year to …

StanChart surprises with 40% profit jump, ups income goal on rising rates Read More »

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever If investors are warming to Wall Street, however fleeting that rapprochement may turn out to be, they could not be giving Chinese markets a colder shoulder. Wariness over exposure to China has been building for a while, as …

Marketmind: This is the yuan Read More »

By Lawrence White, Sinead Cruise and Anshuman Daga LONDON/SINGAPORE (Reuters) – Georges Elhedery’s appointment as HSBC’s chief financial officer caps a journey that’s taken him from war-torn Lebanon to frontrunner for the top job at Europe’s biggest bank. It’s also surprised investors and raised questions about HSBC’s direction. Known at HSBC for his strategic vision …

Analysis-HSBC’s direction in question after Elhedery’s sprint to CEO contender Read More »

By Christian Kraemer and Andreas Rinke BERLIN (Reuters) -Germany may allow China’s Cosco to take a smaller stake than originally planned in a Hamburg port terminal, in what an economy ministry source on Tuesday described as an “emergency solution” to approve the deal but mitigate the impact. Shipping giant Cosco made a bid last year …

Germany hashes out compromise to allow smaller stake China port deal Read More »

By Emily Chow and Muyu Xu SINGAPORE (Reuters) -Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday. Rising imports of LNG to Europe amid the …

World is in its ‘first truly global energy crisis’ – IEA’s Birol Read More »