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Allianz launches offer to acquire 51% of Income Insurance for S$40.58 per share

GERMAN financial services giant Allianz, is making an offer to acquire 51 per cent of Singapore-based insurer Income Insurance for S$40.58 per share. The deal amounts to some 1.5 billion euros (S$2.2 billion), Allianz announced on Wednesday (Jul 17).

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HSBC names Georges Elhedery as next chief executive

HSBC on Wednesday named its chief financial officer Georges Elhedery as the bank’s next chief executive, according to a filing to the Hong Kong stock exchange.

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PBOC questions more banks on bond holdings in push to cool rally

CHINA’S central bank started a fresh round of checks on bond investments at banks as it prepares to cool a record-breaking rally, according to sources familiar with the matter.

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Mizuho fund to invest in Japan’s popular but cash-needing anime

JAPAN’S low-budget animation films are becoming popular worldwide. Mizuho Securities hopes to cash in on that by boosting financing for the sector.

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Nomura reshuffles Asia investment bank team, cuts jobs in slump

NOMURA Holdings is reshuffling its Asia investment-banking team and cutting jobs in an effort to reduce costs amid a deals slump in China and Hong Kong.

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Riskiest stocks begin an epic rotation with rate cuts in sight

THE most speculative corner of the stock market is soaring at a pace not seen since the pandemic as traders race to move up their rate cut bets in a risk-on signal for the investment community.

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China’s central bank uses hedge fund tactic to tame bond bulls

CHINA’S central bank is readying a bold new experiment in global monetary policy – taking a leaf out of the hedge fund playbook and arranging to short-sell bonds.

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US Federal Reserve official suggests apt to cut rates sooner if layoffs rise

A SENIOR US central bank official said in remarks prepared for delivery on Tuesday that it might be apt to lower interest rates sooner rather than later if the job market cools “too much.”

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Digital platform Qifa bets on increase in Russia-China trade and payments

DIGITAL platform Qifa has expanded into facilitating two-way trade between Russia and China as it seeks to solve payment issues currently stunting the flow of goods and services.

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Morgan Stanley traders, bankers top estimates as wealth lags

MORGAN Stanley’s traders joined the party across Wall Street in the second quarter even as the firm’s larger wealth business fell short of expectations.

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