BEIJING / AP China’s foreign ministry on Sunday again rejected President-elect Donald Trump’s suggestion that he might use American policy on Taiwan as a bargaining chip between the two sides. Spokesman Lu Kang said Sunday that the “one China” policy is “non-negotiable.” Since recognizing Beijing in 1979, Washington has maintained only unofficial ties with Taiwan, the self-governing island that Beijing ...

  MANILA / AP Philippine President Rodrigo Duterte said he has ordered his troops to bomb extremists who flee with their captives in a bid to stop a wave of kidnappings at sea, calling the loss of civilian lives in such an attack “collateral damage.” Duterte has previously stated that he had told his Indonesian and Malaysian counterparts their forces can ...

  China’s leaders are hardly disguising their fears about money leaving the country. They’ve imposed new disclosure rules limiting how Chinese — who are allowed to convert up to $50,000 worth of yuan into foreign currency each year — can spend that money overseas. Simultaneously, they’re striving to tamp down worries about the tumbling yuan, which has fallen to an ...

  Bridgewater, the world’s largest hedge fund, has been portrayed as a bizarre, Moneyball-type machine in which employees’ every move is monitored and assessed, increasingly by computer algorithms. Awful as that may sound, what if it’s actually a step toward a happier and more prosperous world? Granted, descriptions of the place — including a recent Wall Street Journal article to ...

  Howard Marks, co-founder of Oaktree Capital Group, is one of the smartest guys I know. Each quarter, he sends out a letter to investors filled with sharp insights and observations. I find all of his letters to be worthwhile, but this quarter he played right to my confirmation bias in his discussion about experts. Here are the key concepts: ...

DUBAI / Reuters Stock markets in the Gulf diverged on Sunday with Saudi Arabia stalling near a six-week low and Dubai retreating on profit-taking, while Kuwait continued to outperform. Saudi Arabia’s index added 0.1 percent. Nine of the top 10 performers were from the insurance segment with Wafa Insurance in the lead, jumping 9.1 percent. Interest in the sector has ...

  Bloomberg Emerging-market stocks and currencies were little changed after US economic data bolstered the case for higher interest rates that could dim investors’ appetite for riskier assets. Mexico’s peso and Turkey’s lira rose. Shares and currencies in emerging markets struggled to find direction as traders boosted wagers the Federal Reserve will raise borrowing costs by its March meeting. Bears ...

  Bloomberg A substantial chunk of the bank bonds needed to comply with new rules designed to protect taxpayers may come from Scandinavia, according to calculations by Danske Bank A/S. In an extreme scenario, which assumes local regulators set the toughest criteria, the region’s lenders may need to find investors for more than $120 billion in notes to meet minimum ...

  Dubai / Emirates Business Mashreq, one of the leading financial institutions in the UAE, on Sunday became the first local bank to launch the Corporate Virtual Card, enhancing its comprehensive product suite for Commercial Payments. Mashreq Corporate Virtual Cards is a dynamic electronic payment platform, empowering corporates with real-time transaction security and control. This powerful tool, built on Mastercard’s ...

  Bloomberg Wall Street’s biggest banks are in a bright spot after years of massive layoffs and pay cuts. The same cannot be said for the largest asset managers. JPMorgan Chase & Co. and Bank of America Corp. reported generally positive fourth-quarter earnings, with debt-trading revenues surging amid volatility after Donald Trump’s election as next US president. BlackRock Inc., on ...