Bloomberg SCB X Pcl is considering options including a sale of its asset management unit, people familiar with the matter said, amid growing industry consolidation in Southeast Asia’s second-largest economy. SCB X, formerly known as Siam Commercial Bank Pcl, has been speaking with financial advisers to explore a potential transaction for SCB Asset Management Co., the people said, asking not …

  Bloomberg The company that built India’s digital payments backbone plans to make it cheaper and easier for the nation’s 32 million expatriates to bring their money home. Indians overseas remitted $87 billion last year, the biggest inflow for any country tracked by the World Bank. The remittances market, where it costs $13 on average to send $200 across borders, …

Bloomberg Wall Street expects the cryptocurrency’s crash to get a whole lot worse. The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Fourty percent saw it going the other way. Bitcoin …

  Bloomberg US equity futures fall on Tuesday as the dollar and sovereign bonds rose, a pattern highlighting pervasive unease about the economic outlook amid high inflation and China’s struggles with Covid-19. S&P 500, Nasdaq 100 shed over 0.5% after a Wall Street slide. The Stoxx Europe 600 gauge slipped for a second day, though it pared the decline with …

  Bloomberg China’s tech stocks unwound recent gains to enter a technical correction on Tuesday, with analysts questioning if fresh probes on internet giants would spark another downturn in the sector. The Hang Seng Tech Index falls 2.1% after tumbling 3.9%, taking declines from a June peak to 11%. Alibaba Group Holding Ltd was among the biggest drags as it …

  Bloomberg Gold steadied near the lowest in more than nine months in the run-up to US inflation data this week that’s set to shape the magnitude of the Federal Reserve’s next rate hike. Investors concerned about the prospect of a global economic downturn have turned in droves to the greenback, which is already up more than 2% this month. …

Bloomberg Oil declined as a renewed increase in China’s virus cases fed into weakness across global markets. West Texas Intermediate dropped near $102 a barrel. Covid-19 cases continued to climb in Shanghai and other regions, with new sub-variants posing a challenge to the country’s Covid Zero strategy. Oil also fell on a stronger dollar, and on the cancellation of a …

  MAKKAH / WAM Roboting, a newly-introduced state-of-the-art service, has been launched at the Grand Mosque this year to distribute Islam’s holy book of Quran to worshippers as they finish their Hajj journey in Makkah, SPA reported. Giving an account on the device, the Under-Secretary of the General President for the Two Holy Mosques Affairs for the Guiding Affairs of …

  Bloomberg Russia’s Gazprom PJSC will further cut gas supplies to Italy by about one third, the country’s energy giant Eni SpA said in a statement on Monday. Gazprom announced that it will supply Eni with approximately 21 million cubic meters of natural gas per day, compared to an average of about 32 million cubic meters per day over the …

  Bloomberg Japan may ask households and businesses to cut back on natural gas use on the back of concerns that increase in global competition for the precious fuel will disrupt stable supply. A panel within Japan’s trade ministry called for discussion to create a framework that would allow the government to ask households and businesses to conserve gas when …