The dollar strayed not too far from a two-year peak on Monday as traders awaited a raft of U.S. economic data releases this week, headlined by December’s nonfarm payrolls report, for further clues on the Federal Reserve’s rate outlook. Also in focus was the Chinese yuan, which on Friday weakened past the psychological level of
Australian consumer sentiment took a step back in December as concerns about the economic outlook outweighed an improvement in people’s own finances, a survey showed. The Westpac-Melbourne Institute index of consumer sentiment fell 2.0% in December, unwinding a little of the sharp gains seen over the previous two months. The index is still up 13%
South Korea’s inflation rate climbed in November to 1.5% year on year, from a 45-month low in October, as the country grapples with a weakening Korean won and slowing exports. The figure was higher than October’s inflation reading of 1.3%, and lower than the 1.7% expected by economists. The country’s central bank recently unexpectedly cut
Consumer advocates are worried about the fate of the U.S. Department of Education’s new affordable repayment option for borrowers, known as SAVE, under President-elect Donald Trump. The programme was supposed to cut in half monthly bills for millions of federal student loan borrowers. President-elect Donald Trump has made his dislike for student debt relief clear.
HSBC Holdings Plc has initiated a major restructuring within its corporate and institutional banking division, requiring hundreds of managers to reapply for positions. This move, part of CEO Georges Elhedery’s efficiency drive, will lead to job cuts in the coming weeks as the bank aims to reduce costs and streamline operations amidst pressure on profit
Bitcoin’s march toward $100,000 made further ground as investors bet a friendlier US regulatory approach to cryptocurrencies under President-elect Donald Trump will unleash a boom era for the asset class. Bitcoin prices topped $95,000 for the first time in Asia trade, touching a high just above $95,040. The cryptocurrency’s price has more than doubled this
The UAE is setting the standard for Middle Eastern banking innovation, commanding the largest share of the region’s $3.2 trillion in banking assets and driving rapid digital growth that places the country at the forefront of financial transformation. A new report from Arthur D. Little (ADL) underscores the UAE’s influential leadership in digital banking and
Nongfu Spring, which says it is China’s largest packaged-water producer by market share, has been awash in problems, including online attacks and a fierce price war in China’s bottled-water market. Its stock tumbled 28% in the past year, resulting in founder and chairman Zhong Shanshan’s wealth evaporating by $9.3 billion to $50.8 billion. Despite this,
With over two decades of experience steering high-net-worth clients through volatile markets, Paul Lee has established himself as a leading figure in wealth and investment management. His journey has seen him excel across top-tier institutions such as Credit Suisse AG and Barclays Wealth & Investment Management, earning the trust of clients who have remained with
Arshad Khan, famously known as ‘Chaiwala’, has achieved a remarkable milestone in his business journey by securing a Rs 10 million investment for his tea brand on the Pakistani version of Shark Tank. Known for his striking blue eyes and humble beginnings as a tea vendor, Arshad captured the nation’s attention in 2016 when a
