Warsaw / AFP Poland’s controversial bid to convert foreign currency mortgages, mostly in Swiss Francs, into the local zloty currency, could “hurt” the Polish banking sector, a global ratings agency warned on Monday. Moody’s said the move by Poland’s new right-wing government would be “credit negative”, hurting the domestic banking sector’s “ability to lend and absorb future shocks”. “It would ...

Bloomberg China’s increased reliance on non-naval ships to assert its claims in the South China Sea is complicating U.S. efforts to avoid a clash in the disputed waters, according to 7th Fleet commander Vice Admiral Joseph Aucoin. While the U.S. and Chinese navies are working more closely under an agreed code for unplanned encounters at sea, the deployment of coast ...

LONDON / AFP Europe’s largest bank HSBC said it would remain headquartered in Britain, rejecting a move to Hong Kong despite concerns about increased regulation in the UK and a possible split from the EU. The Hongkong and Shanghai Banking Corporation said London’s many advantages meant it was “ideally positioned” to provide a home base. It made no reference to ...