Bloomberg India has relocated some troops from areas surrounding a sinking Himalayan town that’s near a disputed border with China, Army Chief Manoj Pande said. Pande didn’t give details on how many soldiers would be moved away for safety but said over 20 military installations around the town of Joshimath in the northern state of Uttarakhand have sustained “medium ...

Bloomberg Traders piled into bets on another hawkish pivot from the Bank of Japan (BOJ) following a report that the central bank will review the side effects of its policy as soon as next week. The yen gained more than 1% and Japanese bond futures slid after the Yomiuri newspaper said the BOJ will consider adjusting bond purchases or other ...

  Bloomberg Thailand will allow the nation’s first virtual banks to offer services in 2025 amid a push to boost competition, widen loan access and cut costs for businesses and the individuals. The Bank of Thailand plans to issue three such licenses in 2024 before the operations begin a year later, said Assistant Governor Tharith Panpiemras. There are about 10 ...

Bloomberg Sri Lanka will probably clinch a debt restructuring deal with its creditors only by the end of the year, with Standard Chartered Plc predicting losses for both domestic and dollar bondholders. The International Monetary Fund (IMF) board approval of a $2.9 billion bailout for the island nation is likely to happen in the second rather than first quarter of ...

Bloomberg Credit Suisse Group AG’s longtime top shareholder Harris Associates slashed its stake by about half, in a sign of wavering confidence on the latest turnaround plan of the troubled Swiss lender. The US investment firm, which last year still held a stake of about 10%, saw its holding fall to about 5% as of the end of last year, ...

  Bloomberg The Bank of Korea (BOK) is set to raise its key interest rate one more time, with policymakers then seen bringing their 18-month tightening cycle to a close amid rising concerns about the economic outlook. Eleven of 16 economists surveyed expect the central bank will hike the benchmark to 3.5%, while the remaining five expect it to hold at ...

  Bloomberg European Central Bank (ECB) Governing Council member Mario Centeno said increases in borrowing costs must persist until inflation is on a sustainable path to officials’ 2% target. Despite moderating for two straight months, price gains are “still too high,” Centeno told lawmakers in Lisbon, where he heads Portugal’s central bank. “How can we respond to this problem?” Centeno ...

Bloomberg The six biggest Wall Street banks are expected to slash their corporate bond issuance in 2023 for a second year in a row, offering a bright spot for investors nursing record losses from the debt last year. The biggest US banks could sell a total of $20 billion to $25 billion across currencies this month after they post earnings, ...

  Bloomberg European stocks advanced and Wall Street futures were steady as traders braced for a report that may show US inflation is cooling, reducing pressure for aggressive rate hikes from the Federal Reserve. The benchmark European stocks gauge advanced 0.5%, boosted by a second day of gains for real estate stocks amid hopes of an easier outlook for rates. ...

  Bloomberg South Korea plans to significantly extend onshore trading hours for the won next year in an effort to improve access for foreign investors. The government will work to allow dollar-won spot trading until 2 am as early as the second half of 2024, versus the current close of 3:30 pm, Finance Minister Choo Kyung-ho said during a press ...