Binance Singapore withdraws application for local crypto bourse

12/13/2021

SINGAPORE (BLOOMBERG) – Binance Asia Services, the Singapore entity of Changpeng Zhao, has withdrawn its application for a license to run a cryptocurrency exchange, the company said. With that, Binance ends an effort to operate a regulated cryptocurrency bourse under the oversight of the Monetary […]

US consumer prices surge 6.8% in November, biggest jump since 1982

12/10/2021

WASHINGTON (BLOOMBERG, REUTERS) – US consumer prices rose last month at the fastest annual pace in nearly 40 years, magnifying how rapid and persistent inflation is eroding pay cheques and increasing pressure on the Federal Reserve to tighten policy. The consumer price index (CPI) increased […]

China creates new state-owned logistics giant

12/07/2021

BEIJING (CAIXIN GLOBAL) – A new logistics behemoth in China combining five state-owned companies was launched Monday in a push by the central government to consolidate state assets. China Logistics Group, with registered capital of 30 billion yuan (S$6.43 billion), was created through a combination […]

COP26 outcome influenced by short-term pressures

11/22/2021

SINGAPORE – Short-term pressures on governments to speed up economic recoveries weighed on the outcome of COP26, the Glasgow summit on climate change, said the World Bank’s vice-president for East Asia and the Pacific Manuela Ferro. Ms Ferro, who attended the summit, said there were […]

Mystery of China's huge US dollar surplus baffles global markets

11/05/2021

HONG KONG (BLOOMBERG) – Unprecedented trade surpluses and record inflows into its bond market are giving China a stockpile of US dollars unseen since the days when the ‘Asian savings glut’ was blamed for keeping US interest rates excessively low and fueling the subprime mortgage […]

Bank of England shocks markets by keeping interest rates on hold

11/04/2021

LONDON (BLOOMBERG) – The Bank of England defied market expectations by keeping interest rates on hold, a decision that threatens to undermine its credibility with investors who believed a hike was a done deal. Policy makers led by Governor Andrew Bailey voted 7-2 to keep […]