Asia Banking

Cost of repairing Syria’s power infrastructure put at $40bn by electricity minister

Akin Nazli in Belgrade January 9, 2025

Production facilities, transmission points, high voltage lines and distribution networks “ruined”, he says.

Indian banks' profitability to moderate in FY26

bno - Mumbai bureau January 9, 2025

Indian banks' profitability is expected to moderate in FY26, following an inflexion point in FY25, largely due to delinquencies stemming from over-leveraging in unsecured assets and rising unsecured credit costs.

Former chief of the Bank of Japan sees more rate hikes on the horizon

bno - Taipei Bureau January 8, 2025

The Bank of Japan is expected to continue raising interest rates in the coming years as inflation shows signs of sustainably reaching the central bank’s 2% target, according to former Governor Haruhiko Kuroda

China-Kyrgyzstan-Uzbekistan railway officially launched, but sidetracked at least until summer

bne IntelliNews January 7, 2025

Project moving forward under yellow signal.

BRICS bank chief touts Uruguay membership in Montevideo talks

bnm Gulf bureau December 28, 2024

Former Brazilian President Dilma Rousseff, who chairs the BRICS New Development Bank (NDB), urged Uruguay to join the institution during talks with President-elect Yamandú Orsi.

Iran central bank blocks crypto payments amid industry backlash

bne Tehran bureau December 28, 2024

Iran's Central Bank abruptly blocked payment gateways for cryptocurrency exchanges, triggering sharp criticism from the country's digital assets industry.

World Bank approves $350mn as Tajikistan bids to fund completion of $6.3bn Rogun mega hydro project

bne IntelliNews December 18, 2024

Funding agreed despite environmentalists warning “biggest dam in the world” investment “will turn into a nightmare”.

South Korea’s won slides as martial law crisis sparks market turmoil

bno - Taipei Office December 4, 2024

South Korea’s financial markets have been shaken by political uncertainty following President Yoon Suk Yeol's brief declaration of martial law, sending the local currency and stock prices into a tailspin

Trump threatens BRICS with tariffs if they dump the dollar

bne IntelliNews December 2, 2024

US President-elect Donald Trump has warned the BRICS countries they will be hit with 100% tariffs if they attempt to set up an alternative currency to the dollar to settle trade deals.

Major bank’s service disruptions cause payment delays at fuel stations across Iran

bne Tehran bureau November 17, 2024

Iran's Bank Mellat electronic banking services, including ATMs, card payment terminals, and Internet banking, faced several hours of disruption on November 17.

Russia to mine Bitcoin in BRICS countries

bne IntelliNews November 7, 2024

In mid-October, during the BRICS Business Forum in Moscow, the Russian Direct Investment Fund (RDIF) partnered with domestic data centre operator BitRiver to construct Bitcoin mining and AI computing facilities for BRICS nations.

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