WORLD
Singapore wealth fund shuffles leadership, appoints Sam Kim as COO
Deputy group chief operating officer Tay Lim Hock will step down and be replaced by his deputy Sam Kim, according to a statement Wednesday.
WORLD
China pledges to strengthen support for EVs amid trade headwinds
The ministries of commerce, foreign affairs and customs as well as four other government agencies on Wednesday called EV exports a “key pillar” in optimizing China’s foreign trade.
WORLD
China’s new year buyers look to gold as stocks and property crash
While the holiday season usually drives increased spending on items like jewelry, reports of robust demand this year are remarkable because the shopping season happens to coincide with a stock market crash.
WORLD
Bolivia cut deeper into junk by Fitch on falling reserves
Fitch cut the country to CCC from B- on Tuesday, after reserves dipped by $2.1 billion last year to just $1.7 billion, most of which is held in gold, the ratings company said. The landlocked South American nation has struggled to prop up its currency, the boliviano, which is pegged at a rate close to 7-per-dollar.
WORLD
China share buybacks climb to three-year high amid market slump
Firms listed in mainland China and Hong Kong spent 14 billion yuan ($1.9 billion) and HK$21 billion ($2.6 billion) repurchasing shares last month, respectively, each marking a record since 2021 when Bloomberg began compiling the data.
WORLD
SoftBank’s Masayoshi Son is poised for best quarter in years as arm jumps
The Tokyo-based investment firm is expected to report net income of ¥373 billion ($2.5 billion) for the three months ended December, according to a Bloomberg average of five analysts.
WORLD
NYCB’s tense talks with watchdog led to moves that rocked market
Two senior executives left their posts in the months before the bank unveiled its measures, one of the people said.
WORLD
NYCB’s credit grade is cut to junk by Moody’s
The rating company downgraded New York Community Bancorp’s long-term issuer rating by two levels to Ba2, citing unanticipated losses in its New York office and multifamily properties, pressure on earnings and a decline in its capitalization.
BUSINESS
Xi to discuss China stocks with regulators as rescue bets build
The CSI 300 benchmark closed 3.5% higher in its best day since late 2022. Small-cap equities that have so far borne the brunt of the rout also jumped, with the CSI 1000 gauge up 7%, the most since 2008.
BUSINESS
Hyundai said to be considering one of India’s biggest ever IPOs
The company may reach out to domestic advisers for pitches soon, one of the people said. A listing may value the Indian unit at $25 billion, the people said.
BUSINESS
Aston Martin hunting for its 4th CEO in as many years
Executive Chairman Lawrence Stroll has contacted current and former heads of other luxury auto manufacturers to gauge interest in the role, according to people familiar with the matter, who asked not to be identified because the conversations were private.
WORLD
China regulators to brief Xi on latest market measures
While it’s unclear whether any new support measures will come out of the meeting, traders are hoping that this time will be different.
BUSINESS
ChrysCapital to raise $300 million to keep NSE stake
ChrysCapital bought a 5% stake in NSE, one of the largest stock exchanges in the world, in 2016.
BUSINESS
Adani starts talks for first Dollar Bond sale since Hindenburg
The sale, expected later this year, is yet to be finalized and the terms may still change.
BUSINESS
China Sovereign Fund vows to buy more ETFs, fueling stock rally
The China Securities Regulatory Commission said soon after Huijin’s announcement that it will continue to guide other long-term funds to enter the market with greater intensity, while supporting listed companies to increase repurchases.
BUSINESS
China’s small-cap crash shows what happens without market rescue
Quantitative hedge funds are seen to have amplified the recent selloff, and authorities have banned some of them from placing sell orders completely along with other measures, Bloomberg reported late Monday.
BUSINESS
Qatar looks to sell more LNG to India in sales blitz
Indian buyers are demanding rates that are below previous deals that Qatar has signed in the last few years, the traders said.
BUSINESS
Wall Street Snubs China for India in a Historic Markets Shift
Much of that cash is now heading for India, with Wall Street giants like Goldman Sachs Group Inc. and Morgan Stanley endorsing the South Asian nation as the prime investment destination for the next decade.
BUSINESS
China tightens trading restrictions for domestic and offshore investors
Officials this week imposed caps on some brokerages’ cross-border total return swaps with clients, limiting a channel that can be used by China-based investors to short Hong Kong stocks, said the people, asking not to be identified discussing a private matter.
REAL-ESTATE
Why NYC apartment buildings are on sale now for 50% off
The two-bedroom Manhattan apartment looks ghostly pale even in the clear afternoon light, the yellowing of its peeling walls reminiscent of an old black-and-white snapshot. Chips of paint are dropping from the ceiling. On the kitchen floor rests a lifeless pigeon.
BUSINESS
US solar boom opens $2 billion Indian door to banned products from China
US initiatives to foster the establishment of India's solar industry may have opened the door to components manufactured using forced labour in China.
INDIA
Tax on online gaming may be reviewed after March, says Revenue Secy
According to a senior finance ministry official, India will evaluate the national sales tax system for online gaming companies after next month.
BUSINESS
Paytm falls again as regulator considers canceling bank permit
Paytm's shares tumbled for the third day in a row as India's central bank contemplates revoking Paytm Payments Bank Ltd.'s licence, adding to the company's escalating woes.
WORLD
Powell tells ‘60 minutes’ Fed is wary of cutting rates too soon
Chair of the Federal Reserve Jerome Powell stated that policymakers will probably wait until after March to lower interest rates in an effort to make the central bank's justifications more understandable to the general public.
