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Bloomberg An organisation formed by key participants in China’s currency market urged banks to limit speculative foreign-exchange trading after the yuan climbed to a six-year high versus peers. The China Foreign Exchange Committee (CFEC) — founded under guidance from the central bank — encouraged lenders to be risk-neutral when trading foreign exchange for themselves and for clients, according to people ...

Bloomberg Overseas-Chinese Banking Corp (OCBC) is considering whether to set up a crypto exchange as Southeast Asia’s second-largest lender seeks to respond to customer needs, Chief Executive Officer Helen Wong said. “We are looking at it and seriously there are some work being done in the bank,” Wong told Haslinda Amin in a Bloomberg Television interview, when asked whether the ...

Bloomberg JPMorgan Chase & Co is offering to reimburse Hong Kong employees up to $5,000 to compensate for their quarantine stay as the financial hub sticks to its zero-Covid policy. All Hong Kong-based employees who are executive directors and below may claim the amount for a single quarantine stay for personal trips to visit immediate family members, which includes spouses, ...

Bloomberg Bank of Nova Scotia plans to start a phased return-to-office plan for headquarters employees who are still working remotely on January 17, marking the first of Canada’s largest banks to set a specific date for a broad return. The return will be staggered for different groups, and the majority of head-office employees will be working in a hybrid model, ...

Bloomberg The New Zealand dollar looks poised to recover from its sharp selloff this month, with technical support, a yield advantage over the US and hedge-fund bets pointing to gains in the kiwi ahead of a pivotal central bank decision. A 50 basis points hike by the Reserve Bank of New Zealand could amplify gains, while a 25 basis points ...

Bloomberg UK economic activity is slowing and supply-side issues are stoking prices, underlining the “two-sided” debate over inflation, Bank of England (BOE) Governor Andrew Bailey said. Reinforcing comments from Chief Economist Huw Pill, Bailey said it’s not the bank’s job to fix supply chain issues that have hampered economies around the world. “The proximate cause of many of these inflation ...

Bloomberg US equity futures rise as Chinese signals for possible easing measures outweighed concern over virus curbs in Europe. European stocks were boosted by deal activity. December contracts on the S&P 500 and Nasdaq 100 Index rise 0.3% each after a cautious week that saw the benchmark gauge underperform the technology measure. Telecom Italia SpA jumped as much as 30% ...

Bloomberg MSCI Inc’s decision to start tracking internet giants JD.com Inc and NetEase Inc. via their Hong Kong shares rather than American Depositary Receipts may reinforce a gradual shift in liquidity away from the US for Chinese stocks. The move comes amid heightened tension between the US and China over listing rules that is seeing some firms favour security at ...

Bloomberg Saudi Tadawul Group Holding is seeking to raise as much as AED3.67 billion ($1 billion) after setting the price range for an initial public offering (IPO) at 95 riyals ($25.32) to 105 riyals per share, the company said on Sunday. The Riyadh-based bourse, on which oil giant Saudi Aramco trades, plans to sell a 30% stake, or 36 million ...

DUBAI / WAM The UAE has won the bid to host the 27th International Council of Museums (Icom) General Conference 2025 in Dubai under the theme ‘The Future of Museums in Rapidly Changing Communities’. The new global achievement is set to further strengthen the UAE’s leading position as the capital of creativity and innovation across various fields. The result of ...