Banking

  Bloomberg The world is getting more hazardous for skeptical analysts, the banks that employ them and investors who rely on their published research. Even by the rough-and-tumble standards of emerging markets, Indonesia’s punishment of JPMorgan Chase & Co. this week for a bearish analysis of the nation’s stock market stands out. The country’s finance ministry cut business ties with ...

  Bloomberg Indonesia won’t stop JPMorgan Chase & Co. from conducting private-sector business in the country, a finance ministry official said, days after the government severed commercial ties with the US bank for cutting its assessment of the nation’s stocks. “For business here, JPM is still allowed to operate just like other banks,” Suahasil Nazara, head of the fiscal agency ...

  Bloomberg China’s benchmark money-market rate declined the most in two years after the central bank took measures to ease a liquidity crunch. The benchmark seven-day repurchase rate fell 37 basis points to 2.30 percent, according to weighted average prices from the National Interbank Funding Center. The average interbank repo rate surged to a 20-month high in December on a ...

  Bloomberg Yeo Jiawei, a former BSI SA banker found guilty of attempting to tamper with witnesses in a Singapore probe linked to 1Malaysia Development Bhd., will appeal his conviction and sentence, according to his lawyer. Yeo, 34, was sentenced on Dec. 22 to a 30-month jail term, the longest yet handed down by the city’s courts in 1MDB-related cases. ...

  Bloomberg The Federal Reserve’s plan to further withdraw support for the US economy will ease pressure on other major central banks to keep up their own ‘aggressive’ monetary stimulus, former Reserve Bank of India Governor Raghuram Rajan said. “I think with the Federal Reserve seeing limited room for continued accommodation and starting to raise interest rates, I think you ...

  Bloomberg Australia & New Zealand Banking Corp. agreed to sell its 20 percent stake in Shanghai Rural Commercial Bank Co. for A$1.84 billion ($1.33 billion), Chief Executive Officer Shayne Elliott’s latest move to unwind an Asian expansion that sapped profits. China Cosco Shipping Corp. and Shanghai Sino-Poland Enterprise Management Development Corp. will buy 10 percent each, the Melbourne-based company ...

  Bloomberg Oman is preparing an international bond sale, two people with knowledge of the deal said, as the country seeks to plug a budget deficit caused by low oil prices. The sultanate has sent invitations to banks to arrange the sale of a dollar or Islamic bond, the people said, asking not to be identified because the information is ...

  Bloomberg Turkey’s lira weakened the most among major world currencies on Tuesday, falling as much as 1.6 percent to a new record, as the killer of 39 people at an Istanbul nightclub remained at large and inflation accelerated more than estimates in December. The lira depreciated to a record 3.60 against the dollar before trading 1.3 percent lower at ...

  Bloomberg Global banking regulators delayed a key meeting on new capital standards, acknowledging they need more time to strike an agreement after European authorities resisted planned restrictions on how banks measure asset risk. The Basel Committee on Banking Supervision’s oversight board said in a statement on Tuesday that it had postponed a meeting scheduled for January 8 to allow ...

  Bloomberg State Bank of India, the country’s largest lender, is predicting an acceleration in loan growth from a 25-year low after slashing borrowing costs to the lowest level in at least six years. The state-run lender cut lending rates based on the marginal costs of funds by 90 basis points across all tenures on Sunday. Other banks including Union ...