September, 2022

• 7 September

  Russians to face higher fees, stricter rules for EU visas

  

    Bloomberg The European Union proposed to make it more expensive and harder for Russian tourists to travel to the bloc, in a move that will likely increase tensions between Moscow and Brussels. “Russian citizens should not have easy access to the EU,” Commissioner Ylva Johansson, in charge of home affairs, told reporters Tuesday. “At the moment, there is no ...

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• 7 September

  Solomons PM blasts Australia over election offer

  

    Bloomberg The Solomon Islands accused Australia of trying to “influence” its lawmakers ahead of a vote on a constitutional amendment to delay elections until 2024, after Canberra offered to fund the Pacific nation’s next national ballot. Prime Minister Manasseh Sogavare’s office said Australia’s offer was “inappropriate” and it would not respond until the constitutional amendment had been voted on. ...

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• 7 September

  Xi to visit Kazakhstan in first post-Covid trip, Interfax says

    Bloomberg Xi Jinping will visit Kazakhstan next week for a state visit, Interfax reported, in what would be the Chinese president’s first trip overseas in more than two and a half years. Xi accepted the Kazakh president’s invitation to visit the Central Asian nation on Sept. 14, the Russian news agency reported, citing Kazakh Foreign Ministry spokesman Aibek Smadiyarov. ...

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• 7 September

  Typhoon leaves South Korea with less damage than expected

  

  Bloomberg Typhoon Hinnamnor left at least two people dead and created flooding and power outages as it passed through South Korea, though the destruction appeared to be less than had been forecast. Hinnamnor hit near the southern city of Geoje at 4:50 a.m. local time on Tuesday and moved off the coast near Ulsan just a few hours later, the ...

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• 6 September

  RBA raises key rate to 7-year high, signals more to come

  

    Bloomberg Australia’s central bank raised interest rates by a half-percentage point for a fourth consecutive meeting and signalled further hikes ahead in its drive to rein in inflation. The Reserve Bank of Australia (RBA) took the cash rate to 2.35%, the highest level since 2015, in a widely expected announcement on Tuesday. The tightening is Australia’s quickest in a ...

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• 6 September

  France mulls changes to mortgage lending rules

  

  Bloomberg France is considering changes to mortgage lending rules to ensure credit to households as the European Central Bank delivers sharp rate increases to counter surging inflation. At present, French regulations cap rates that banks can offer based on average rates in the past quarter plus an extra premium. Some banks have become reluctant to accept loan applications as rates ...

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• 6 September

  China cuts forex reserve ratio in bid to support tumbling yuan

  

    Bloomberg China has reduced the amount of foreign-exchange deposits banks need to set aside as reserves for the second time this year to boost the yuan after the currency hit a two-year low. Financial institutions will need to hold 6% of their foreign-currency deposits in reserves starting from September 15, the People’s Bank of China (PBOC) said in a ...

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• 6 September

  Ringgit falls to lowest level since Asian financial crisis

    Bloomberg The Malaysian ringgit tumbled to a 24-year low as a stronger dollar and domestic political risks damped sentiment. The ringgit falls as much as 0.2% to 4.5015 per dollar as it breached the 4.5002 mark reached in January 2017. The Malaysian currency is now at its weakest level since January 1998, during the Asian Financial Crisis. A resurgent ...

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• 6 September

  RBI acts to anchor rupee depreciation expectation

  

  Bloomberg The Reserve Bank of India (RBI) is in the currency market almost everyday with the twin objective of curbing volatility and anchoring expectations for rupee depreciation, the central bank’s Governor Shaktikanta Das said. “Exchange rate stability is an intrinsic element of our overall macroeconomic and financial stability,” Das said in Mumbai. “Our endeavour, amidst the extraordinary events unfolding globally ...

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• 6 September

  US futures, European stocks advance; pound rebounds

  

    Bloomberg US stock futures climbed, with dip buyers drawn to attractive valuations after three weeks of Wall Street declines. European stocks rose as investors assessed responses to the region’s energy crisis ahead of the European Central Bank’s policy meeting later this week. S&P 500 and Nasdaq 100 contracts both advanced by more than 0.6%, with cash trading set to ...

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