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Bloomberg The US security presence “remains vital to the Asia-Pacific region,” and China would be unable to take over that role in Southeast Asia even with its increasing military might, Singapore Prime Minister Lee Hsien Loong said. In an article published by Foreign Affairs on Thursday, Lee wrote that China’s competing maritime and territorial claims in the South China Sea ...

Bloomberg Japan will allow some resident foreigners to re-enter the country on humanitarian grounds after facing criticism its policies made their return uncertain and left the group in a Covid-19 travel limbo. A notice on the foreign ministry website says permission to land may be granted “depending on the individual situation if there are special exceptional circumstances, particularly such as ...

Bloomberg Philippine lawmakers have approved a bill allowing warrantless detention and wiretapping of suspected terrorists, which the country’s human rights commission says could curb expressions of dissent and other freedoms. The House of Representatives gave its final approval on the anti-terrorism bill, adopting the Senate’s version of the measure that’s been certified by President Rodrigo Duterte as urgent. Bills on ...

Bloomberg China’s central bank said it will temporarily purchase loans made to small businesses from some local banks, a new policy to boost the supply of lending to the real economy. The plan will use 400 billion yuan ($56 billion) from a separate program to buy 40% of unsecured loans to small and medium-sized firms with maturities of at least ...

Bloomberg The two British institutions that dominate Hong Kong’s banking system backed Beijing in the standoff over a proposed new security law, joining Jardine Matheson Holdings Ltd. and some of the city’s biggest developers in wading into the political minefield of the former colony’s future. HSBC Holdings Plc, born in the 19th century as the Hongkong and Shanghai Banking Corp., ...

Bloomberg Bank of America Corp. (BofA) pledged to donate $1 billion over the next four years to address economic and racial inequality that’s has worsened during the coronavirus pandemic. The funds will be directed to programs that focus on health, jobs, small businesses and housing, particularly in communities with many people of colour, the bank said. Those efforts may include ...

Bloomberg British banks are flooding the economy with billions in loans every week as the demand for emergency funding for businesses persists. Lenders have so far issued over 31.3 billion pounds ($39 billion) to more than 745,000 businesses through government-backed schemes, according to UK Finance which represents finance and banking firms in London. As of May 31, banks have lent ...

Bloomberg Philippine central bank governor Benjamin Diokno said the monetary easing implemented against coronavirus was appropriate, and that further action will depend on the economic recovery. “Right now, we’re happy where the current policy rate is,” Diokno said in an interview with Bloomberg. Monetary authorities are ready to use all the tools at their disposal, but are likely to do ...

Bloomberg The Bank of England (BOE) repeated that lenders should plan for the possibility that the UK won’t reach a deal with the European Union (EU) before the Brexit transition period is complete at the end of this year. In a rare public statement on the talks, the central bank said Wednesday that a no-deal Brexit was “one of a ...

Bloomberg The stock rally powered by bets on a speedy global economic recovery from the pandemic paused for breath on Thursday as equities struggled in Europe and Asia. The dollar climbed after five consecutive sessions of declines. The Stoxx 600 Index opened lower for the first time this week, hours before the European Central Bank announces its policy decision. Futures ...