Bloomberg Taiwan announced it is extending its compulsory military service to one year from the current four months, a signal to Beijing and Washington it is serious about defending itself. President Tsai Ing-wen said at a press briefing in Taipei that the change coming in 2024 was necessary to ensure international support and that China’s expansionism threatened regional stability. “This ...

Bloomberg Serbia’s President Aleksandar Vucic has ordered the nation’s army on full alert after weeks of rising tensions in neighbouring Kosovo where the local Serb minority has been confronting the authorities over new registration requirements, putting up road blockades and holding protests that threaten to tip into violence, the defense ministry says. “The President of the Republic of Serbia, as ...

  Bloomberg Top executives at Japan’s biggest banks are expecting negative interest rates to linger and see little immediate earnings boost after a surprise move by the nation’s central bank pushed lenders’ shares up by 13% last week. Earnings won’t enjoy a meaningful lift unless the Bank of Japan (BOJ) scraps negative interest, according to three senior executives, who asked ...

  Bloomberg Jason Moo, who spent more than two decades at Goldman Sachs Group Inc, will become the new chief at the private banking unit of Oversea-Chinese Banking Corp (OCBC), according to a person with knowledge of the matter. Moo, a Singaporean, will start at Bank of Singapore next year, said the person, who declined to be identified discussing confidential ...

  Bloomberg A decline in core inflation pressures is critical for moderating price gains and returning them to the Reserve Bank of India’s (RBI) 4% midpoint, said a rate-setter at India’s monetary policy panel. The pass through of higher input cost pressures in overall prices may not be complete yet, said Shashanka Bhide, an external member, adding that rising demand ...

  Bloomberg The euro area faces a “very difficult economic situation” that will test individuals and businesses, European Central Bank (ECB) Vice President Luis de Guindos said. “The high inflation rates that we are seeing across Europe are coinciding with an economic slowdown and low growth,” he told the Spanish Confederation of Young Entrepreneurs’ Associations in an interview published on ...

Bloomberg While declines in chip and Internet giants have put South Korean equities on course for their worst year since the global financial crisis, investors found winners in the electric-vehicle supply chain and defense sector. The benchmark Kospi is down about 22% in 2022, headed for its largest loss since 2008. The biggest drags include a 26% decline in Samsung ...

  Bloomberg Equities climbed on Tuesday while the dollar declined amid positive sentiment from China’s rollback of Covid isolation measures and the cooling of a key inflation gauge in the US. Chinese, Japanese and South Korean shares rose, with travel and consumer goods stocks higher in Tokyo and Seoul after China moved to end quarantine for inbound visitors. Futures contracts ...

  New York / WAM Ambassador Lana Nusseibeh, Assistant Minister of Foreign Affairs and International Cooperation for Political Affairs and Permanent Representative of the UAE to the United Nations, expressed the UAE’s strong condemnation of the decision by the Taliban to ban women from working in national and international non-governmental organisations (NGOs) in Afghanistan. Ambassador Nusseibeh warned that at a ...

  Abu Dhabi / WAM The Ministry of Economy has announced that Creative Zone, one of the UAE’s largest consulting and business establishment companies, has joined the NextGenFDI initiative through foreign direct investments which launched in July 2022, with the aim of attracting digitally advanced companies to enter the UAE market, and developing the next generation of startups in the ...