Featured Archives • Page 933 of 1373 • Financial News

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China issues rules to assess risks in foreign banks’ Chinese branches

CHINESE regulators published a set of rules on Tuesday (Dec 27) to assess the operational risks of foreign banks’ Chinese branches, as well as the level of support they receive from their global headquarters.

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Wall Street’s big banks score US$1 trillion of profit in a decade

MALICK Diop felt something shifting on Wall Street.

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China banks rush traders back to office on Covid disruptions

SOME Chinese financial institutions are rushing employees back to office as surging absences of traders and other key personnel due to the nation’s massive Covid-19 outbreak start to disrupt operations.

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Crypto lender Vauld faces debt-plan deadline as takeover talks with Nexo in limbo

ACQUISITION talks between crypto lenders Nexo and Vauld haven’t yet resulted in an agreement, as Vauld stares down a Jan 20 deadline to present a restructuring plan to creditors. Discussions with Nexo “had unfortunately not come to fruition,” Vauld wrote on Monday in an email to creditors.

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Russia could hike rates in 2023 if inflation risks have big impact: central bank

THE Bank of Russia could raise interest rates in 2023 if inflationary risks such as labour shortages and import restrictions have a meaningful impact, Deputy Governor Alexei Zabotkin told the RBC daily in an interview.

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Sanctions forcing Russia’s Sberbank to close UAE office, company says

RUSSIA’S dominant lender Sberbank will be forced to close its office in the United Arab Emirates (UAE) early next year, first deputy chairman Alexander Vedyakhin said on Monday (Dec 26), blaming sanctions pressure.

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Japan MOF to raise 10-year JGB coupon to 0.4-0.5% in Jan

JAPAN’S Ministry of Finance has finalised its plan to raise the 10-year Japanese government bond (JGB) coupon rate to 0.4-0.5 per cent from the Jan 5 auction, doubling the current 0.2 per cent, Kyodo news agency said on Monday (Dec 26).

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China banks rush traders back to office amid Covid disruptions

SOME Chinese financial institutions are rushing employees back to office as surging absences of traders and other key personnel over the past week amid the nation’s massive Covid-19 outbreak start to disrupt operations.

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South Korea’s SK Group may sell some South-east Asia assets

SOUTH Korea’s second-largest conglomerate SK Group said on Monday (Dec 26) it is considering selling some of its assets in South-east Asia and reinvesting in other businesses in countries in the region, including Vietnam.

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Vietnam’s TPBank sees 2023 profit jump, in foreign loan talks

VIETNAM’S Tien Phong Commercial Joint Stock Bank expects its pretax profit to rise 15 per cent next year as the nation’s pioneer in adopting automation technology benefits from cost savings, according to chief executive officer Nguyen Hung.

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