Posts by Stephanie Irvin
Dollar rises, pound, Swiss franc drop on busy central bank day
The dollar climbed on Thursday (Jun 20), while the Swiss franc and the pound dropped as a busy day of central bank meetings kept currency traders alert. The dollar index, which tracks the currency against six peers, was last up 0.2 per cent at 105.42 after a volatile 10 days that has seen mixed signals…
Read More🚽 A guide to not crying in the office toilet: Regulating emotions at work
💢 Emotional outbursts happen At what was supposed to be a mundane weekly meeting, a friend of mine got so worked up over a passing comment from his boss that he remembers it to this day. He had just presented a progress report on a project when his boss casually said – in front of…
Read MoreSwiss financial regulations not yet tough enough post-Credit Suisse, central bank says
SWITZERLAND’S financial regulations need further strengthening following the takeover of Credit Suisse by UBS, the Swiss National Bank (SNB) said on Thursday (Jun 20), pressing for more to be done on capital and liquidity requirements. Credit Suisse roiled financial markets last year when it collapsed following a string of financial problems, and was absorbed by…
Read MoreRupee hits record low, hurt by likely outflows, importer dollar demand
A broadly stronger dollar, along with weakness in the Chinese yuan, also pressured the Indian currency The Indian rupee fell to a record low on Thursday (Jun 20), pressured by likely outflows and strong dollar demand from local importers. The currency declined to a lifetime low of 83.6650 against the US dollar in the latter…
Read MoreBank of Japan warns of potential hit to lenders from rising rates
Japanese financial institutions’ profitability has decreased significantly in the past 25 years, making them vulnerable to potential losses from any sharp rises in interest rates, the central bank said on Thursday (Jun 20). While many companies increased long-term, fixed-rate loans to take advantage of Japan’s ultra-low interest rates, some have suffered sluggish profits, the BOJ…
Read MoreSingapore startup Carro first to tap US$1 billion HSBC Asean Growth Fund
The S$75 million multi-currency loan diversifies Carro’s funding channel, particularly in Malaysia SINGAPORE startup Carro announced on Thursday (Jun 20) that it signed a S$75 million multi-currency loan with HSBC, making the home-grown company the first to tap HSBC’s Asean Growth Fund of US$1 billion. The loan will be used to fund Genie Financial Services,…
Read MoreGuzman Y Gomez shares jump 37% in biggest Australian IPO this year
MEXICAN food chain Guzman Y Gomez served up Australia’s best initial public offering debut in three years with its shares leaping more than one-third on their first trading day on Thursday (Jun 20), sending an upbeat signal about investor sentiment. The Sydney startup’s stock began trading at A$29.90 at midday local time (0200 GMT),…
Read MorePhilippine peso skids on dollar’s strength
The Philippine peso weakened against the dollar on Thursday (Jun 20) to hit a 10-day low and lead a broader decline in Asian currencies, reflecting expectations policymakers would cut interest rates ahead of the US Federal Reserve. The peso was last trading 0.22 per cent lower at 58.77 to the dollar, having weakened earlier to…
Read MoreNasdaq boosts scrutiny of investors in IPOs from China, Hong Kong
NASDAQ is once again increasing scrutiny of small initial public offerings (IPOs) from China and Hong Kong to avoid a repeat of the wild swings that followed a handful of deals two years ago, according to sources familiar with the matter. Several Hong Kong- and China-based IPO applicants have faced a series of questions from…
Read MoreChinese banks hold lending rates following PBOC’s caution
CHINESE banks maintained their benchmark lending rate for a 10th straight month, as pressure on the yuan restricts policymakers’ space for easing. The one-year loan prime rate (LPR) was maintained at 3.45 per cent, according to a statement from the People’s Bank of China (PBOC) on Thursday (Jun 20), in line with most economists surveyed…
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