Bloomberg The rupiah is enjoying its best performance in more than two years as foreign inflows turbocharge its catch-up with emerging market peers. The Indonesian currency climbed 1.2% against the greenback to 14,895 per dollar on Tuesday, its strongest in four months. It has surged about 4.7% over the last month, Asia’s second-best performer. The return of overseas bond investors ...

  Bloomberg Nigeria’s central bank will allow citizens to swap old naira notes for redesigned bills to boost adoption and circulation of the new currency before the old bills cease to be legal tender at the end of the month. The central bank of Nigeria in October 2022 announced plans to redesign its highest-value banknotes in a bid to mop ...

  Bloomberg The European Central Bank (ECB) wouldn’t object to a dividend payment if Greek banks prove they can fulfill all supervisory demands even under an adverse scenario, said Andrea Enria, head of the ECB’s Supervisory Board. If the banks “are able to remain above all our supervisory tripwires, let’s say, requirements and buffers, including a payment of some distributions, ...

  Bloomberg Binance Holdings Ltd., the world’s largest crypto platform, acknowledged that it mistakenly keeps collateral for some of the tokens it issues in the same wallet as exchange customer funds. Reserves for almost half of the 94 coins that Binance issues, known as Binance-peg tokens or “B-Tokens” are currently stored in a single wallet called “Binance 8” which also ...

  Bloomberg JPMorgan Chase & Co. has received approval from India’s central bank to name Prabdev Singh as the lender’s chief executive officer (CEO) in the country. The Reserve Bank of India (RBI) last week approved a three-year term for Singh, a JPMorgan spokeswoman said in an emailed reply to Bloomberg on Tuesday. An email to the RBI wasn’t answered. Singh ...

  Bloomberg JPMorgan Chase & Co. gained full control of its China mutual fund joint venture, joining rival Manulife Financial Corp. in buying out local partners to secure full ownership of a business in the 26 trillion yuan ($3.8 trillion) market. The China Securities Regulatory Commission (CSRC) approved the US bank’s acquisition of a 49% stake in China International Fund ...

  Bloomberg European equities wavered on Tuesday in the wake of tech-stock fuelled gains on Wall Street and bets for less-aggressive interest rate hikes from the Federal Reserve. The Stoxx 600 Index erased an early advance to trade little changed. US equity futures ticked lower after the best two-day rally since November for the tech-heavy Nasdaq 100. Treasury yields fell ...

  Bloomberg Japanese stocks made a full recovery from the Bank of Japan’s (BOJ) surprise revision to its yield-curve-control policy last month. Both the Topix and Nikkei 225 Stock Average closed above levels seen prior to December 20, 2022, when the BOJ abruptly doubled its cap on Japan’s 10-year bond yield to 0.5%. With the BOJ’s latest decision to leave policy ...

  Dubai / WAM Grant Shapps, UK’s Secretary of State for Business, Energy, and Industrial Strategy, said in an interview in Abu Dhabi that the energy events hosted by the UAE represent its approach towards sustainability. “I think it is an amazing year for the UAE as it is hosting the world’s biggest UN climate conference – COP 28. I ...

  Abu Dhabi / WAM The central bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased by 0.7%, rising from AED 3.615 trillion at the end of October 2022 to AED3.639 trillion at the end of November 2022. According to figures published in CBUAE’s November summary report on monetary and banking developments, gross ...