Hong Kong’s stock exchange (HKEX) will cut trading fees for its cash market starting next year in an effort to improve market efficiency and boost activity. Overall, the moves by the Hong Kong Exchanges & Clearing Ltd. will lower the effective rate on cash market trades to 0.565 basis points from 0.576 basis points, according to a statement on Tuesday. …

Carlyle Aviation Partners said it sued a group of insurance companies and re-insurers claiming they failed to pay for losses stemming from the seizure of planes leased to Russian airlines following the invasion of Ukraine. Carlyle Aviation leased 23 planes to Russian airlines, including Izhavia and NordStar, and tried to repossess and relocate the aircraft as soon as Russia’s invasion …

Global stocks rallied as speculation that China may unwind its stringent Covid Zero policy fueled risk-on sentiment across markets. The dollar and Treasury yields fell ahead of a key Federal Reserve decision. US-listed Chinese stocks soared in premarket trading, tracking the rally in Chinese markets after an unverified social media post triggered speculation that Beijing is looking to phase out …

Abu Dhabi / Gulf Time Wizz Air Abu Dhabi, the ultra-low-fare national airline of the UAE, on Monday added Kuwait City to its ever-expanding network, its fifth key destination in the Gulf region. The new route will strengthen connectivity within the GCC by providing an alternative ultra-low fare travel option for passengers between the two Gulf countries. This falls in …

Chinese shares extended losses following last week’s selloff as a ramp-up of Covid-19 restrictions and poor economic data worsened the outlook for the market. The Hang Seng China Enterprises Index ended on Monday’s volatile session with a 1.8% loss, closing at its lowest since November 2005. Property shares plunged, while tech shares bucked the downtrend following BYD Co.’s record earnings. …

For months, investors have been eagerly awaiting a Federal Reserve policy pivot. But now, at least for some, it might come too soon. The latest MLIV Pulse survey suggests that if the Fed Chair Jerome Powell gives any dovish Federal Open Market Committee (FOMC) signals during this week’s press conference, he might send investors scrambling. Almost half of 250 respondents polled …

Nigeria’s President Muhammadu Buhari said the central bank’s plan to replace high-value currency notes will help the economy deal with currency counterfeiting, excess cash in circulation and address inflation, which climbed to a 17-year high in September. The central bank has Buhari’s support to launch the new currency designs and he “is convinced that the nation will gain a lot …

Standard Bank Group Ltd. is open to acquisitions in Nigeria and Kenya as Africa’s biggest lender by assets expands its presence in key markets on the continent. The lender is also keen to bolster its businesses in Ethiopia — where it has a representative office — and its home-market South Africa, Standard Bank Chief Executive Officer Sim Tshabalala said. In …

RHB Bank Bhd. plans to introduce its digital banking platform as early as the second half of next year, its top executive said, as Malaysia’s fifth biggest lender looks to hold back a tide of fintech startups. The bank and its partner Boost, an arm of communications giant Axiata Group Bhd., could invest as much as 1 billion ringgit ($212 …

Japan spent a record 6.3 trillion yen ($42.4 billion) in October to counter the yen’s sharp slide against the dollar, as it tried to limit speculative moves adding to pressure on the currency. The finance ministry disclosed on Monday data for the period between September 29 to October 27. Central bank figures and market estimates of money flows with the …