September, 2020

• 23 September

  Malaysia poised for turmoil as Anwar makes bid for power

  

  Bloomberg Malaysia appeared poised for a new round of political turmoil after opposition leader Anwar Ibrahim claimed to have enough support from lawmakers to form a government. Prime Minister Muhyiddin Yassin denounced the move and challenged Anwar to prove his assertion, while saying his administration remains firmly in control. Key members of his coalition signed a joint statement to reaffirm ...

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• 23 September

  Duterte gets tough on China, leaning back to old ally America

  

  Bloomberg After years of shifting the Philippines closer to China, President Rodrigo Duterte appears to be leaning back towards the US. The 75-year-old leader gave his most forceful defense yet of the Permanent Court of Arbitration’s 2016 ruling in favour of the Philippines that said Beijing’s expansive territorial claims in the South China Sea breached international law. Addressing the United ...

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• 23 September

  Kenya faces historic decision on fair gender factor

  

  Bloomberg Kenya faces a historic decision to close parliament for failing to enact rules on fair gender representation in public bodies. Chief Justice David Maraga advised President Uhuru Kenyatta to dissolve the legislature after receiving six petitions on the matter. Lawmakers were supposed to have implemented the legislation by 2015, five years after Kenya adopted a new constitution that includes ...

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• 23 September

  China eases entry rules for foreigners for work, reunions

  

  Bloomberg China eased restrictions on some foreigners’ entry into the country, almost six months after it nearly sealed its borders to limit the spread of the coronavirus pandemic. Foreigners holding residence permits for work, personal matters and reunions will be allowed to enter China starting from September 28, the Chinese Ministry of Foreign Affairs said in a statement posted on ...

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• 23 September

  JPMorgan to move $230 billion assets to Germany in Brexit shift

  

  Bloomberg JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the UK to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. The US bank plans to finish the migration of the assets to its Frankfurt-based subsidiary by the end of ...

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• 23 September

  Goldman, HSBC halt London office return after Johnson plea

  

  Bloomberg Banks from Goldman Sachs Group Inc. to HSBC Holdings Plc have hit pause on plans to return workers in London after Prime Minister Boris Johnson appealed to Britons to work from home to help tame a resurgent coronavirus. Goldman Sachs is encouraging its London employees to go back to working remotely if possible, though its Plumtree Court office will ...

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• 23 September

  Thailand holds rate at record low with spotlight on fiscal steps

  

  Bloomberg The Bank of Thailand held its benchmark interest rate unchanged for a third straight meeting to save its limited policy space, allowing fiscal policy to take the lead in reviving an economy headed for its worst annual performance ever. The central bank kept the policy rate unchanged on Wednesday at 0.5% in a unanimous decision, after lowering rates three ...

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• 23 September

  RBNZ may launch new stimulus tool this year

  

  Bloomberg New Zealand’s central bank said it may launch a new stimulus tool this year to further reduce borrowing costs, a precursor to taking interest rates negative in 2021. The Monetary Policy Committee favours introducing a Funding for Lending Program for banks “before the end of 2020,” the Reserve Bank said on Wednesday in Wellington after holding the official cash ...

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• 23 September

  RBI won’t allow big rupee gains despite high CPI: ICICI

  

  Bloomberg India’s central bank will continue to intervene to prevent any sharp appreciation in the rupee, even after signs of leniency towards currency gains in recent weeks, according to ICICI Bank Ltd. The Reserve Bank of India’s (RBI) forex strategy has been in sharp focus after it stepped away from dogged dollar buying amid large inflows. The perception that the ...

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• 23 September

  Credit Suisse CEO sees slowdown at wealth unit

  Bloomberg Credit Suisse Group AG Chief Executive Officer (CEO) Thomas Gottstein said he expects the wealth management business to slow down in the third quarter while revenue and trading will keep pace with earlier this year. Speaking at a virtual Bank of America Corp. conference, the CEO said he expects banking consolidation to pick up, but cautioned that international deals ...

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