Bloomberg Egypt’s central bank will consider floating the country’s currency when foreign reserves are almost double their current level, the bank’s governor said in a televised interview. Tarek Amer’s comments on al-Qahira Wel-Nas were his clearest signal yet that the central bank has no intention of devaluing the Egyptian pound at present, despite growing analyst predictions that such a move ...

Bloomberg The People’s Bank of China should have explained the change in its reporting of foreign-exchange holdings to avoid market speculation on its motives, according to Mizuho Securities Asia Ltd. “The PBOC changed the category of the position of forex purchases in its monthly report in January,” a move that “immediately raised market concerns about possible concealment or manipulation of ...

London / AFP Global banking giant HSBC announced on Monday its results for 2015 which fell below analysts’ expectations after what it called “seismic shifts” in the world economy. The bank said net profit dropped 1.2 percent to $13.52 billion from the previous year. Group chairman Douglas Flint described the performance as “broadly satisfactory” in a statement, although the bank’s ...