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Australian PM’s approval drops as RBA sees no near-term rate cut

AUSTRALIAN Prime Minister Anthony Albanese’s approval rating fell to the lowest level since he took office in 2022 as the central bank signalled it will not join global peers in cutting interest rates, suggesting no relief is in the offing for voters struggling with the cost of living.

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Citi boosts Australia and New Zealand Markets business with key appointments

CITIGROUP announced seven new appointments for its Australia and New Zealand business on Monday (Sep 2) across verticals, as the financial services major aims to strengthen these markets.

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Pimco, GMO refine EM playbook as Fed cuts set to shake up market

TOP-PERFORMING emerging-market (EM) bond managers are recalibrating positions as the most anticipated US interest rate cut in decades brings fresh impetus to an asset class buffeted by nearly US$15 billion in outflows this year.

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Fintech Validus bags US$50 million loan to fund Indonesian MSMEs

VALIDUS has secured a debt facility of up to US$50 million from HSBC under the lender’s Asean growth fund strategy.

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OCBC Bank website, mobile app down for some users

SINGAPORE lender OCBC Bank’s website and mobile app couldn’t be accessed by some users on Sunday (Sep 1).

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China considers allowing refinancing on US$5.4 trillion in mortgages

CHINA is considering allowing homeowners to refinance as much as US$5.4 trillion of mortgages to lower borrowing costs for millions of families and boost consumption.

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Goldman to cut a few hundred jobs in coming weeks in annual cull

GOLDMAN Sachs plans to dismiss a few hundred employees in coming weeks as part of the firm’s annual cull of low-performing staff, according to people familiar with the matter.

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HK tycoon Cheng’s family office appoints son to co-CEO role

THE private investment vehicle of Hong Kong billionaire Henry Cheng’s family has appointed one of his sons as co-chief executive officer, the latest development in the family’s closely-watched succession saga.

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Germany’s struggling economy starts to take toll on its banks

GERMANY’S banks are starting to feel the pinch from the stagnating economy.

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Mastercard to get rid of card numbers for online shopping

MASTERCARD is doubling down on efforts to eliminate the use of credit card numbers when customers make purchases online in a bid to fight fraud.

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