Asia Credit
Kenya asks China’s approval to convert dollar-denominated $5bn railway loan into yuan
Apart from lobbying Beijing to convert the loan into yuan, Kenya hopes to generate $4bn by securitising a levy on imports to finance a planned extension of the China-built standard gauge railway (SGR).
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.
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.
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.
Xi signs treaty to elevate China's ties with Central Asia at Astana summit
Document refers to "permanent good-neighbourliness and friendly cooperation". Chinese leader takes jab at US, saying trade and tariff wars "produce no winners".
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.
India overtakes Japan to become world's fourth largest economy in nominal terms
The size of India’s economy has overtaken Japan’s to become the fourth largest economy in the world in nominal terms, worth $4.34 trillion.
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China shifts from global banker to leading debt collector
Once the primary provider of capital across much of the world, Beijing now finds itself at the receiving end of record repayments, particularly from some of the world’s poorest and most vulnerable nations.