REGARDLESS of whoever sits in the Bank of Japan (BOJ) hot seat, the biggest worry of global bond investors — a wave of Japanese cash heading home — has already begun in earnest and looks unlikely to stop.
SINGAPORE’S largest lender on Monday (Feb 13) posted a 69 per cent year-on-year rise in net profit to a record S$2.3 billion for its fourth quarter ended December.
DBS will likely continue to post strong results in 2023 as the lender rides on its strong asset quality and sustained loan momentum, said its chief executive Piyush Gupta.
CHINESE banks extended a record amount of new loans in January after authorities prodded them to lend more to businesses, though consumer borrowing remained subdued.
Goldman Sachs Group chief executive officer David Solomon said he should have gone with his instincts and acted sooner to cut jobs, the Financial Times reported.
INDIA is discussing with Group of 20 (G20) members ways to develop a standardised global framework for regulating cryptocurrencies, Finance Minister Nirmala Sitharaman said on Saturday (Feb 11).
WHEN Ulrich Koerner unveiled a plan to salvage Credit Suisse Group AG in October, the chief executive officer promised to create a new bank. His subsequent failure to reverse a stampede of client funds has raised doubts that “new” means “better”.
THE yen strengthened on Friday (Feb 10) with Kazuo Ueda reportedly set to become the next Bank of Japan (BOJ) governor but pared gains after he said the central bank’s monetary policy was appropriate.
NEW bank loans in China jumped more than expected to a record 4.9 trillion yuan (S$955.9 billion) in January, as the central bank moved to shore up growth in the world’s second-biggest economy following the lifting of tough pandemic controls.
SINGAPOREANS are increasingly turning to foreign currency investments to take advantage of the strong local currency and protect their cash from inflation.
