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Qatar recovers, banking and insurance hit Saudi

Reuters Qatar’s stock market continued to recover on Tuesday from last week’s big losses, while Saudi Arabia’s main index was dragged down by the banking and insurance sectors. The Qatari index rose for a third straight day in a technical rebound after hitting five-year lows last week. It was up 0.5 percent on Tuesday after gaining 0.9 percent. Foreign investors ...

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China central bank boss calls for reform amid Congress countdown

Bloomberg People’s Bank of China (PBOC) Governor Zhou Xiaochuan made a fresh call to open up the nation’s financial sector, and warned that reform will become more difficult if the window of opportunity is missed. In an interview with the Chinese financial magazine Caijing, the nation’s longest-serving central bank chief defined a “troika” of three drivers needed to further open ...

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Indonesia probes Standard Chartered over $1.4bn transfer

Bloomberg Indonesia will investigate whether citizens linked to the transfer of $1.4 billion of Standard Chartered Plc private bank client assets complied with tax amnesty requirements. The country’s Finance Ministry received data on the fund transfer for tax compliance purposes and found it involved 81 private citizens, without any military, police, law enforcement or civil servants involved, Ken Dwijugiasteadi, director-general ...

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