The Bangladesh Bank Governor has tendered his resignation to the country’s prime minister following cyber theft of $81 million. He claims to remain in dark till the news got published in the media. The theft incident has turned an end to his seven years’ tenure as the central bank governor which has been dedicated to alleviation of poverty.
China will try to draw up rules to regulate ride hailing service as the market has grown very big. Meanwhile Indonesia transportation minister plan to ban Uber and GrabTaxi.
The turbulent situation Japan's banking sector is likely to impact global markets. A leading hedge fund manager says that collapse in the Japan's banking industry blindsides the market, while shrugging off any possibility of banking crisis in the world's third largest economy.
Through a surprise move, Bank of Japan has adopted negative interest rate aiming to force the banks in investment. Meanwhile, the negative economic outlook has compelled the commercial banks to squeeze their investment portfolios while diminishing the BOJ move. Analysts have forecast for unchanged monetary policy in Tuesday’s meeting while predicting for a major change in April.
South Korean venture capital firms are eyeing overseas biotech industry to accelerate investment goals. At the sametime, tech startups in Korea also began to flourish.
Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.
Japan's regional banks are enhancing unsecured retail lending as it offers high profit margins. Loans on mortgage and small firm borrowing are declining. Japan banks are suffering from ultra-low interest rate regime to increase revenues.
Global markets have been moving in tandem with state of Chinese economy and US Presidential elections these days. After rebounding in the previous month, the global markets are waiting for next level triggers from US elections and stimulus plans on China's economy.
Sino-Philippine relationships have been witnessed to hit the bottom during the regime of existing president. Presidential candidates for the upcoming elections find difficulties in maintaining balance with national sovereignty and trade relations with neighboring China. However, all the candidates have committed to uphold sovereignty while maintaining better trade relations with China.
Toyota has been working with the local government along with Toshiba Corp. and Iwatani Corp. regarding hydrogen fuel cell. Hydrogen will be taken from the wind-power plant in Yokohama Hama Wing that will be compressed and delivered by a truck.
China has been acquiring foreign assets desperately ahead of turbulent economic situations. It has acquired assets for around $84 billion during this year compared to last year’s $108 billion. Anbang has reached an agreement acquiring Strategic Hotels & Resorts for $6.5 billion from Blackstone Group LP which is the latest bout of China’s acquisition spree.
World Asset Management Inc increased its stakes in ICICI Bank Ltd thus increasing the bank’s fund. The bank will now have sufficient funds to lend to eligible borrowers who want to have their own business and houses.
China Banking Regulatory Commission (CBRC) has warned of risks from industrial overcapacity. CBRC has advised commercial banks and financial institutions to keep limits on lending exposure as it sees a need for setting up investment pilot projects and asset securitization to enhance cash flows.
Micromax has been the popular smartphone company in India but with the introduction of other cheaper smartphones from other companies, Micromax is now struggling to keep pace with its competitors. It is now seeking partnership for expansion to produce television and tablets outside its home country.
China has decided to implement its stringent anti-pollution efforts despite slowing down of economy. China is propelling up economy growth without compromising on environment protection.