Banking

  Bloomberg Asian currencies are set for their steepest monthly advance in more than six years, with the approaching end of the Federal Reserve’s tightening cycle supporting gains. The Bloomberg JPMorgan Asia Dollar Index has rallied 2.7% in November. South Korea’s won is the best performer after logging a 7% rise, followed by the Thai baht which climbed 6.8%. “While ...

  Bloomberg South Korea is continuing with efforts to ease strains in its credit market, with local financial firms making a second round of contribution to a key bond stabilisation fund redeployed in October. The companies will inject an additional 5 trillion won ($3.7 billion) into the fund between December and January, according to the Finance Ministry. The Bank of ...

  Bloomberg New Zealand’s central bank has been surprised by the strength of inflation, which has boosted price expectations and required a more aggressive interest-rate response, Assistant Governor Karen Silk said. “What we have seen is actual inflation continue to surprise on the upside, but more importantly inflation expectations have moved higher as well,” Silk said in an interview with ...

  Bloomberg Deutsche Bank AG sees room to expand its deals business in Asia and is looking to hire selectively even as some rivals turn wary amid a sharp slowdown in China. “As different industry players continue to be increasingly cautious, we do see opportunity to strategically grow our market share in some areas where it makes sense,” Amit Khattar, ...

  Bloomberg Australia has a stronger probability of bringing its economy in for a “soft landing” than almost any other developed-world counterpart, Reserve Bank Governor Philip Lowe said, citing the nation’s still-contained wage growth. “It’s not guaranteed but where I sit today I think we have a better chance than most other countries of pulling it off,” Lowe told a ...

  Bloomberg The ringgit jumped, making the currency the best performer in Asia, following the appointment of Anwar Ibrahim as Malaysia’s new prime minister. The ringgit rose by as much as 0.9% against the dollar to 4.4542, its strongest level since mid-August. The currency had surged by 1.8% after Anwar’s appointment on Thursday, the largest single-day gain since March 2016. ...

  Bloomberg Credit Suisse Group AG falls to a fresh record low as investors weighed the impact of the massive outflows the bank reported this week and news that rivals in the key growth market of Asia are benefiting from the Swiss firm’s troubles. Shares of the lender declined as much as 5% in Zurich after Vontobel cut its price ...

    Bloomberg The European Central Bank (ECB) is imposing higher capital requirements on lenders including BNP Paribas SA and Deutsche Bank AG, arguing that they have ignored warnings to cut risk in the lucrative business of leveraged finance, according to people familiar with the matter. The French and German investment banks are among a handful of institutions who are ...

Bloomberg India’s banking regulator asked a unit of Paytm to resubmit its application for approval required to provide payment aggregator services, a potentially lucrative business the company is trying to expand into. The Reserve Bank of India (RBI) asked Paytm Payments Service Ltd. to resubmit its application after seeking necessary approvals from its parent to comply with foreign direct investment ...

  Bloomberg Goldman Sachs Group Inc. plans to set up shop in Munich to strengthen its coverage of Germany’s biggest, and newest, companies. The US investment bank is close to signing a lease for an office on upmarket Maximilianstrasse from the end of 2023, people familiar with the matter said, asking not to be identified discussing confidential information. It will ...