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Bloomberg Bank Indonesia seeks to reduce the country’s reliance on the US dollar, with plans to allow domestic transactions of non-deliverable forwards in other currencies and to strike more agreements on local currency settlement. The central bank could offer non-US dollar-denominated domestic NDFs next year, Edi Susianto, executive director for monetary management, said in interview on Thursday. The monetary authority ...

Bloomberg Taiwan’s central bank won’t impose foreign-exchange controls, Governor Yang Chin-long said on Thursday as he attempted to clarify earlier remarks about how aggressive the monetary authority might become to ensure stability in financial markets. The central bank is capable of coping with capital outflows, Yang told lawmakers, acknowledging that foreign outflows are higher in 2022 than in previous years, ...

  Bloomberg Thailand’s central bank raised borrowing costs by a quarter-point, putting it further behind the policy tightening that peers in the region have followed to tame inflation and stem currency weakness. The baht extended its decline. The Bank of Thailand’s monetary policy committee voted unanimously to raise the one-day repurchase rate by 25 basis points to 1%, as seen ...

  Bloomberg Citigroup Inc. appointed Grant Carson to manage its operations in Russia as a stand-alone entity as the US bank reduces its business in the country following President Vladimir Putin’s invasion of Ukraine. Russia will continue to be part of Citigroup’s EMEA emerging markets cluster under its regional Chief Executive Officer Ebru Pakcan, according to an internal memo seen ...

  Bloomberg European Central Bank (ECB) President Christine Lagarde said borrowing costs will be raised at the next “several meetings” to ensure inflation expectations remain anchored and price gains return to the target. Addressing an event in Frankfurt, Lagarde said bringing inflation back to the 2% medium-term goal is the ECB’s main mission — despite increasing concerns about recessions in ...

Bloomberg China’s Golden Week holiday will be a crucial period for stock traders looking for fresh market impetus, after a brutal year pushed a key benchmark to near its lowest in two years. The CSI 300 Index has lost more than 14% this quarter, buffeted by the nation’s Covid- 19 restrictions and property woes, as well as a global selloff ...

  Bloomberg Japan’s bond market liquidity deteriorated to levels not seen in over a decade on growing fears that overseas rate hikes would lead to a global economic downturn. A Bloomberg gauge measuring the deviation of Japanese government bond yields from model-estimated values soared this week to its highest level since April 2011, suggesting few investors were willing to bet ...

  ABU DHABI / WAM ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority (OIA), across various sectors aimed at contributing to increased economic cooperation and trade between both nations. The meeting was held on the sidelines of President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s visit to Oman, ADQ ...

  Muscat / WAM On the sidelines of President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s visit to Oman, Oman Rail, the Sultanate’s national developer and operator of railway networks, signed an agreement with Etihad Rail, the developer and operator of the UAE National Rail Network, to jointly establish an equally-owned company, Oman-Etihad Rail Company. The newly created entity ...

  Muscat / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a letter of thanks to His Majesty Sultan Haitham bin Tariq, the Sultan of Oman, after leaving Muscat at the conclusion of a state visit to the Sultanate of Oman, in which His Highness expressed his heartfelt thanks and appreciation for the warm welcome and ...