(Reuters) – Pakistan’s finance minister said on Friday the South Asian nation was seeking debt relief from bilateral creditors in the wake of devastating flooding but emphasised the government would not seek any relief from commercial banks or Eurobond creditor. Pakistan’s bonds had slumped to just half their face value throughout the day after the …
Pakistan debt relief requests won’t include commercial creditors Read More »
(Reuters) – Pakistan’s finance minister said on Friday the government was not seeking any relief from commercial banks or Eurobond creditors, after destructive flooding prompted the South Asian nation to seek debt relief from bilateral lenders. “Given the climate-induced disaster in Pakistan, we are seeking debt relief from bilateral Paris Club creditors,” finance minister Miftah …
Pakistan is not seeking debt relief from commercial creditors -finance minister Read More »
By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) – Southeast Asian startups are enjoying a boom in fundraising exercises by venture and buyout funds that are chasing bigger returns and turning away from regulatory turmoil in Chinese markets, even at the risk of slower growth. Firms such as Insignia Ventures Partners and SoftBank-backed East Ventures …
Funds flock to Southeast Asian startups as China loses sheen Read More »
By Cynthia Kim, Yena Park and Jihoon Lee SEOUL (Reuters) -South Korea’s central bank said on Friday it was setting up a currency swap arrangement with the National Pension Service to divert some of the fund’s foreign currency needs, in a bid to put a floor under the rapidly weakening won. The Bank of Korea …
S.Korea central bank enlists its pension fund to defend weak won Read More »
By Summer Zhen HONG KONG (Reuters) – Swiss private bank Union Bancaire Privée (UBP) is back in Chinese markets, its chief investment officer said, making its way back to the world’s second-largest economy after withdrawing last year. UBP has more than $150 billion of assets. It returned to China in August after having exited all …
(Corrects to paraphrase paragraph 8 comments) By Vidya Ranganathan SINGAPORE (Reuters) – As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen, it is running into numerous obstacles, chiefly its own stubborn commitment to ultra-easy monetary settings. Thursday’s sudden burst of yen-buying intervention by Japanese …
By Tommy Wilkes and Nell Mackenzie LONDON (Reuters) -The Bank of Japan’s intervention to prop up a freefalling yen has currency investors speculating about which central bank could move next in the face of a soaring dollar. Few think another G7 central bank would be bold enough to intervene directly as Japan did on Thursday. …
Race to rein in strong dollar is on after Japan intervenes Read More »
BERLIN (Reuters) – Daimler Truck has begun producing Mercedes-Benz branded trucks in China, with the first vehicles rolling off production lines at its joint plant with China’s Foton Motor Co in Beijing on Friday, the truck and bus maker said. China is the world’s biggest market for heavy trucks, with around 1.5 million units sold …
Daimler Truck begins producing Mercedes-Benz branded trucks in China Read More »
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lankan authorities will formally hold talks with international creditors on Friday to start the process of restructuring billions of dollars of its debt and share plans to tackle the island’s worst economic crisis in more than seven decades. The success of the restructuring process is critical for the …
Sri Lanka to unveil debt restructuring plan to creditors Read More »
KUALA LUMPUR (Reuters) – Malaysia will not impose capital controls or peg the ringgit to the U.S. dollar, the central bank said on Friday, as the currency trades near a 24-year low. The ringgit has dropped nearly 9% this year, in line with a slide in other emerging market currencies, as the U.S. dollar has …
Malaysia rules out capital controls, currency peg as ringgit trades near 24-yr low Read More »
