Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo’s suspected currency intervention. Trading was thinned in Asia with Japan out for a holiday, though markets in mainland China got off to an upbeat start … Read more
They said that in addition to the death toll, a further 30 people were injured and 23 vehicles were trapped, and they were continuing the search for bodies and injured people. Chinese President Xi Jinping has ordered local authorities to make an all-out effort to save lives and ensure “overall social stability”. He ordered government … Read more
The U.S. dollar was a shade softer in early deals on Monday, thinned by a holiday in Japan, though the yen, euro and sterling stayed near the bottom of the ranges hit during Friday’s volatile session. Japan’s yen was at 158.05 per dollar, up nearly 0.2% in quiet trading with Tokyo markets closed for the … Read more
Russia more than doubled its benchmark last year, saddling corporate borrowers with as much as 1.2 trillion roubles (US$13 billion) in extra debt-servicing costs, according to Moscow-based consultancy Yakov & Partners. “Given current realities, the average cost of debt will be raising,” Sergey Malyshev, Nornickel’s chief financial officer, said in a statement sent to reporters … Read more
“This pent-up demand will fade, so demand will return to the average level seen during the years before the pandemic. It is unlikely to go back to a peak of HK$72.7 billion seen in 2016.” Last year’s tally is a significant jump on the three-year Covid-19 period, which recorded sales of HK$2.1 billion in 2022, … Read more
But it was in the southern nation of Zambia where BOC established its first African subsidiary, allowing customers to make deposits in and even withdraw Chinese yuan. Branches in both Lusaka and Kitwe, a mining town in the country’s northern Copperbelt region, serve the growing number of Chinese mining firms and immigrants. Recently, the lender … Read more
