Argentina is in talks to renew and potentially expand its currency swap line with China, official sources confirmed today. The government’s goal is to double the free access amount, taking it to US$ 10 billion, an official source told the Herald. The negotiations for that are very advanced, the source added. The country has free access […]
The Rockefeller Foundation and Temasek Trust have, on May 19, announced the launch of the Global Coalition for Nuclear Philanthropy (GCNP), a collaborative initiative to deploy philanthropic capital to support nuclear energy as a driver for clean energy security, economic growth, energy abundance and human development. The coalition aligns with the COP28 Declaration to Triple […]
China on Wednesday said it will buy 200 Boeing jets and seek an extension of a trade truce struck with the US that is set to expire this November. The statement marked Beijing’s first confirmation of the Boeing order, though it did not elaborate on the types of planes China would buy. If finalized, the […]
For over five years, Pan African Resources, a South African gold mining company, has partnered with the Australian firm Emmerson Resources. In a recent development, Pan African Resources has begun the process of acquiring Emmerson Resources in its entirety. The deal is valued at approximately R80 billion and aims to strengthen Pan African Resources’ control […]
A global finance watchdog is demanding national regulators better scrutinize private credit, warning that banks, asset managers, insurance and private equity firms are exposed to an assortment of growing risks in the near $2 trillion sector. In a wide-ranging study published Wednesday, the Financial Stability Board said the industry’s lack of standardized, transparent data, along […]
OPEC’s second-largest producer, Iraq, is offering huge discounts of up to $33.40 per barrel off the official selling prices for its crude that has to move through the Strait of Hormuz. Iraq’s oil production and exports have been severely crippled due to the hostilities in the Middle East and the de facto closure of the Strait of […]
OCBC Bank has struck a deal to acquire parts of HSBC’s wealth and premier banking portfolio in Indonesia, adding over 300,000 customers to its Indonesian subsidiary and potentially opening doors for Singapore-based staff seeking overseas exposure. This marks the first major acquisition under OCBC’s new group chief executive, Mr Tan Teck Long, as the bank expands […]
Indonesia and China have launched cross-border QR interoperability, marking a significant milestone in deepening financial cooperation and accelerating digital payment integration between the two countries. The initiative, introduced by Bank Indonesia on Thursday, enables users from both countries to conduct retail payments seamlessly by scanning QR codes across borders. The system is expected to support […]
The “sell in May and go away” strategy does not appear to be working in Seoul this year, as the benchmark Kospi continues its record-setting rally, breaking above 6,900 points on Monday to near the 7,000 milestone, led by a more than 10 percent surge in chip giant SK hynix. “Sell in May and go […]
Brent oil prices rose as much as 7% on Thursday on a report that the US is considering potential military action against Iran to break the deadlock in negotiations to end the war, increasing concerns of more supply disruptions to already curtailed Middle East exports. Brent crude futures for June rose US$6.81, or 5.8%, to US$124.84 a barrel as of […]