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Standard Chartered Bank faces US$2.7 billion lawsuit over alleged role in 1MDB fraud
The move is the latest in a wide-ranging effort to recover money belonging to 1Malaysia Development Berhad — Liquidators seeking to recoup…
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Standard Chartered faces US$2.7 billion lawsuit over alleged role in 1MDB fraud; bank ‘emphatically rejects’ claims
Liquidators seeking to recoup misappropriated funds from Malaysia’s sovereign wealth fund 1Malaysia Development Berhad (1MDB) have…
Business
Circle applies for US trust bank license after bumper IPO
Stablecoin firm Circle is applying to create a national trust bank in the US, a major move after its blockbuster initial public offering…
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Bank of Korea halts digital currency project, pausing talks with banks
South Korea’s central bank halted its digital currency testing project, telling participating banks it will temporarily pause discussions…
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Thailand central bank vows to step in if baht moves are unhinged
Thailand’s central bank is ready to tackle excessive baht volatility by managing any moves “unhinged” from its fundamentals, a deputy…
Business
Israel Labels Iran's Central Bank as Terror Entity Amid Rising Tensions
Israel has officially labelled Iran's Central Bank a terrorist entity, citing its alleged role in financing militant operations across the…
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Bank of Korea overhauls repo framework amid changing liquidity conditions
The Bank of Korea (BOK) said it’s revamping its open market operation framework to increase its operational flexibility to manage…
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Indonesia’s yield curve may steepen as Bank Indonesia unwinds intervention
Indonesia’s sovereign yield curve is set to steepen as the central bank reduces its use of short-term rupiah securities, prompting a shift…
Business
US Federal Reserve releases plan to relax key bank capital rule
The US Federal Reserve unveiled plans to roll back an important capital rule that big banks have said limits their ability to hold more…
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Bank of Korea warns of housing, debt risks as easing continues
Persistent housing price gains, particularly in the Seoul metropolitan area, could accelerate debt accumulation in South Korea and pose…
Business
Some in Bank of Japan called for keeping rates low for now, June summary shows
Several opinions have warned of the expected hit to Japan’s fragile economy from sweeping US tariffs Some Bank of Japan (BOJ) policymakers…
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Bank of Japan board divided over rate pause and inflation risks, June summary shows
Some Bank of Japan (BBOJ) policymakers called for keeping interest rates steady for the time being due to uncertainty over the impact of…
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World Bank and IMF climate snub ‘worrying’, says COP29 presidency
The hosts of the most recent UN climate talks are worried international lenders are retreating from their commitments to help boost…
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Taiwan central bank says US debt rising too fast may impact trust in Treasuries
Taiwan’s central bank governor warned on Saturday (Jun 21) that rapidly rising US debt could be “unfavourable” to the outlook for US…
Business
Slow rate hikes could cause wage-price spiral, Bank of Japan paper says
Hiking interest rates only gradually as raw material costs rise could heighten the risk of an upward spiral in wages and consumer prices,…
Business
Top Thai billionaires-backed groups win digital bank permits
Three groups led by Charoen Pokmhand Group, Gulf Development and SCB X have clinched Thailand’s new virtual bank licences to boost…
Business
Bank of England keeps rates steady, sees further loosening as jobs market weakens
The Bank of England held interest rates at 4.25 per cent as expected on Thursday (Jun 19) but said it was focused on risks from a weaker…
Business
Indonesia central bank makes market intervention after rupiah depreciation
Indonesia’s central bank intervened in the foreign exchange market in a measured way on Thursday (Jun 19), an official said, after the…
Business
Swiss National Bank cuts interest rate to zero in effort to stop franc inflows
The Swiss National Bank (SNB) cut its interest rate to zero, seeking to deter investors from pushing up the franc. The quarter-point…
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Bank of Japan’s gloomy projections suggest no rate hike this year: ex-top economist
The Bank of Japan is likely to hold off raising interest rates this year unless a dramatic, positive turn of events in US tariffs allows…
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China’s central bank says to promote digital yuan, multi-polar currency system
Pan Gongsheng expects several key global currencies to coexist in mutual competition and checks and balances China’s central bank governor…
Business
Julius Baer’s new CEO takes on old guard to revamp Swiss bank
On his first day as chief executive officer, Stefan Bollinger told staff at Julius Baer Group that they should not be afraid to speak up…
Business
Bank of Japan to weigh slowdown in bond buying cuts after volatility rises
The Bank of Japan (BOJ) is set to consider whether to taper its bond purchases at a slower pace while also leaving its benchmark interest…
Business
India's central bank to use cash reserve ratio as active liquidity tool
India’s central bank plans to use the cash reserve ratio (CRR) more frequently to manage liquidity and aid policy transmission, rather…