Asia Banking
Reserve Bank of India holds repo rate at 5.5% amid rupee pressure and US tariff threats
The Reserve Bank of India has kept the repo rate unchanged at 5.5% as the rupee continues to weaken under pressure from renewed US tariff threats.
Indian opposition blames government on Trump threats
Under President Donald Trump’s second term his administration has taken a much more hawkish stance that Indian purchases enable Russia to weather sanctions and indirectly fund its war effort
Bank of Japan holds interest rate as inflation projections rise
The Bank of Japan has decided to maintain its benchmark interest rate at 0.5%, a move that was largely anticipated by markets.
Bitcoin hits historic high for second time in one day
Bitcoin broke its historic price record for the second time in one day, surpassing $118,000 in global market trading after setting a new high above $116,000 overnight.
Global banking’s new powerhouse: Asia
Asia's level of digital banking infrastructure has enabled it to challenge and even surpass traditional Western players such as Citi and HSBC in key regional markets.
Syria receives IMF visit for first time since 2009
Conflict-torn country faces “enormous challenges”, says mission. Majority of GDP wiped out. Restoring power infrastructure alone could cost at least $40bn.
Pakistan holds key interest rate at 11% amid oil price risks
Pakistan’s central bank has kept the interest rate unchanged at 11%, citing fresh inflationary risks due to volatile global oil prices and regional geopolitical tensions.
How Turkey became a fintech operator in Spain and Pakistan by seizing unicorn enterprise Papara
State trustee appointed to Turkish firm that owns Madrid-based neobank Rebellion Pay and reportedly took over Pakistani operator SadaPay.
How Turkey freed Islamic State suspects after G7 terrorist money watchdog took country off grey list
Fact that trial of 19 alleged terror finance individuals was being pursued was factor in FATF’s decision to end listing.
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South Korean consumer confidence up as optimism over new government kicks in, rate cuts expected
The boost in sentiment is being attributed to growing expectations that the incoming government, set to be formed after the June 3 election, will deliver economic support and policy stability.
Sri Lanka likely to hold rates steady amid stable growth and tariff uncertainty
The country's economy grew by 5% in 2024, outperforming expectations and marking a significant turnaround after a deep financial crisis triggered by a severe shortage of US dollars three years ago.
Currency appreciation in Taiwan sparks concern in business and on the street
Over the past week, the New Taiwan Dollar has experienced a significant appreciation against the US dollar, surging nearly 6% in a month and marking its largest single-day gain since the 1980s.
China’s central bank unveils 10-point plan to help calm markets, steer growth
Among the most headline-grabbing moves is a 0.5 percentage point cut in the reserve requirement ratio, expected to unleash some CNY1 trillion ($138bn) into the financial system. But that’s just the beginning.