Bank
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Bank of England plans staffing cuts because of budget pressures
[LONDON] The Bank of England is planning to reduce head count as its finances become strained by the cost of the modernisations recommended by Ben Bernanke. The UK central bank…
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India central bank cuts repo rate by 25 basis points, boosts liquidity
[MUMBAI] The Reserve Bank of India (RBI) cut its key repo rate by 25 basis points on Friday (Dec 5), in line with a consensus view, as record low retail…
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India central bank cuts key rate, boosts liquidity to support ‘Goldilocks’ economy
[MUMBAI] The Reserve Bank of India (RBI) cut its key repo rate by 25 basis points (bps) on Friday (Dec 5) and left the door open for further easing, as…
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Bank of America expands crypto access for wealth management clients
As US President Donald Trump continues to push regulatory relief for the asset class, crypto has been benefiting from widespread institutional adoption [BENGALURU] Bank of America will begin allowing its…
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India central bank to tolerate weaker rupee as inflows dry up
[MUMBAI] India’s central bank will tolerate a weaker rupee as the country’s external sector confronts multiple headwinds including a wider trade gap and stalling of dollar inflows into the world’s…
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Fed data suggests central bank has stopped losing money
The Fed’s deferred asset reflects losses that must be covered before it can resume payments to Treasury [WASHINGTON] The Federal Reserve appears to have finally turned the corner on a…
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Global accounting body IASB consults on new model for assessing bank risks
The model will attempt to replace a transaction-driven view of how banks manage interest rate risks [LONDON] Banks could give investors a clearer view on how they manage risks, such…
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Philippines’ slow growth raises chance of December rate cut, says central bank chief
Data last month showed annual growth slowed to a four-year low of 4.0% in the third quarter [MANILA] A slower growth outlook for the Philippines raises the chances of another…
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Grab-Singtel’s GXS bank cuts about 10% of workforce as it moves on from early-stage operations
Loss of 82 jobs part of the group’s transition from building a bank to running the operations: CEO Lai Pei-Si [SINGAPORE] Digital bank GXS is cutting 82 jobs or about…
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BoE Cuts Bank Capital Rules for First Time Since 2008
The Bank of England (BoE) has announced a reduction in the capital requirement for UK banks, the first such move since the 2008 global financial crisis. Under the new rules,…
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Singapore Bank OCBC’s shares hit record as wealth unit shines
OCBC shares gained as much as 0.6%, above the previous high from more than two weeks ago [SINGAPORE] Oversea-Chinese Banking Corp (OCBC) shares hit a fresh record as the wealth-management…
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Indonesia assigns US$1 billion to Brics-led New Development Bank
[JAKARTA] Indonesia will assign US$1 billion to the Brics-led New Development Bank, further boosting ties with the group of developing nations. The country expects its contribution to help fund sustainable…
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Thai central bank proposes new foreign-exchange rules to ease pressure on baht
[BANGKOK] The Bank of Thailand (BOT) plans to roll out additional measures to ease appreciation pressure on the baht and tighten oversight of gold-related foreign-exchange transactions after the currency strengthened…
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Bank of Japan to weigh ‘pros and cons’ of rate hike in December, governor Ueda says
[NAGOYA] The Bank of Japan (BOJ) will consider the “pros and cons” of raising interest rates at its next policy meeting, governor Kazuo Ueda said on Monday (Dec 1), giving…
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Bank Indonesia seeks rate cuts while balancing stability, growth
Tariff worries have made the rupiah South-east Asia’s worst-performing currency this year [JAKARTA] Bank Indonesia (BI) will strike a balance between encouraging currency stability and supporting economic growth, even as…
