HANOI (Reuters) -Vietnamese Prime Minister Pham Minh Chinh has told the country’s central bank to remove a cap on credit growth in the banking system from next year, the government said on Thursday. The central bank should, instead, develop a set of standards for banks to operate in an “efficient and healthy” manner, the government …
Vietnam PM tells central bank to remove cap on credit growth from 2026 Read More »
(Reuters) -Citigroup has appointed Luen-Yuan (Lenny) Chu as the head of China Global Network Banking (GNB), effective August 11, the bank said on Thursday. Chu, who spent nearly two decades with Europe’s largest bank HSBC, will oversee corporate banking services for multinational companies operating in China, a critical segment for Citi’s global operations. The move …
Citi taps HSBC veteran to lead corporate banking for MNCs in China Read More »
HONG KONG (Reuters) -Shares of Cathay Pacific Airways fell 4.5% in early trade on Thursday after the Hong Kong flagship carrier warned of declining airfares, challenges at its budget carrier and uncertain cargo market conditions. Stock of the airline fell to HK$10.36 per share, the lowest level since June 24. That compared to a 0.3% …
Cathay Pacific shares fall more than 4%, a day after results Read More »
(Corrects paragraph 1 to clarify that multinationals in Malaysia will be buying from the US, rather than Malaysia buying from US multinationals. Also changes headline to reflect that) KUALA LUMPUR (Reuters) -Multinational companies in Malaysia will buy equipment from the U.S. worth $150 billion in the next five years for the country’s semiconductor, aerospace and …
Firms in Malaysia to boost tech, LNG purchases from US as part of trade deal Read More »
SEOUL (Reuters) -Shares in South Korean chipmaker SK Hynix fell 3.1% in early Thursday trade, after President Donald Trump said the U.S. will impose a tariff of about 100% on chips. SK Hynix supplies Nvidia with chips called high-bandwidth memory used in artificial intelligence chipsets. Trump said on Wednesday the United States will impose a …
Shares in South Korean chipmaker SK Hynix tumble on US tariffs Read More »
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) -The Bank of Japan must be cautious about raising interest rates given the expected hit from U.S. tariffs on the fragile economy, ruling party heavyweight Ken Saito told Reuters. “The BOJ ought to be cautious as everything would be in tatters if its action cools the economy,” …
Japan ruling party heavyweight warns against BOJ rate hike Read More »
SINGAPORE (Reuters) -Singapore’s United Overseas Bank, or UOB, reported on Thursday a 6% drop in net profit in the second quarter from a year earlier, the first fall since the first quarter of 2024, mainly due to lower net interest income. UOB, Southeast Asia’s third-largest bank by assets, said April-June net profit declined to S$1.34 …
Singapore bank UOB’s second-quarter net profit drops 6%, misses forecast Read More »
SEOUL (Reuters) -South Korea posted a record-high current account surplus in June on strong demand for technology exports, central bank data showed on Thursday. The country’s current account stood at a surplus of $14.27 billion, up from $10.14 billion in May. It was the biggest monthly surplus in the data series dating back to January …
South Korea June current account at biggest surplus on record Read More »
By Gregor Stuart Hunter SINGAPORE (Reuters) -South Korea’s tax policies have thrown the outlook for Asia’s best-performing major stock market into doubt, with investors assessing the impact of higher corporate tax and trading levies on the country’s long-promised reforms. Foreign investment flows into South Korean equities totalled $4.52 billion in July, LSEG data showed – …
Blowout South Korea stock rally on a knife-edge over tax plans Read More »
By Ella Cao, Lewis Jackson and Tom Polansek BEIJING/CHICAGO (Reuters) -China has extended for three months an investigation period for beef imports, the commerce ministry said on Wednesday, giving global suppliers a breather from the prospect of trade curbs as the domestic industry battles to reduce a supply glut. The inquiry, launched last December, came …
China extends probe on imported beef in respite for global suppliers Read More »
