Profits earned by China’s industrial firms in September surged 27.7 percent from a year earlier, the statistics bureau said on Friday, accelerating from a 24 percent rise in August. Industrial profits increased 22.8 percent in the first nine months of 2017 from the same period last year, versus a 21.6 percent rise in January-August. China’s […]

The euro plunged following Thursday news from the European Central Bank and U.S. stocks closed mostly higher on strong earnings releases ahead of Friday’s Asian trading day. The European Central Bank on Thursday said it would reduce monthly asset purchases to 30 billion euros ($35 billion) from 60 billion euros beginning in January 2018. Those […]

China will not set a target to double gross domestic product (GDP) from 2021, a senior Communist Party official said on Thursday, as top leaders look to high-quality growth in the long term. Yang Weimin, vice minister of the Office of the Central Leading Group on Financial and Economic Affairs, told a news conference the […]

China’s Ministry of Finance has already attracted over $10 billion in orders, including interest from joint bookrunners, for its proposed $2 billion sovereign U.S. dollar bonds offering launched this morning. A five-year tranche is indicated at Treasuries plus 30bp-40bp and a 10-year tranche is shown at Treasuries plus 40bp-50bp. The offering, China’s first in U.S. […]

Stocks on Wall Street finished lower overnight despite strong U.S. economic data releases ahead of Thursday’s Asian trading day. U.S. stocks closed lower on Wednesday on disappointing earnings releases, with the Dow Jones industrial average recording its largest single-day fall since Sept. 5. The 30-stock index lost 122.30 points, or 0.48 percent, to close at […]

Hong Kong and Singapore have agreed to cooperate on a cross-border trade project based on blockchain technology as part of a broader joint strategy on financial technology. The two Asian powerhouses’ central banks signed a fintech deal Wednesday to collaborate on a number of projects including business innovation, data sharing and exchange of expertise. “Hong […]

Saudi Arabia‘s Crown Prince Mohammed bin Salman, has promised a return to “a more moderate Islam,” as the Kingdom continues to push ahead with sweeping cultural and economic reforms. Speaking at Riyadh’s Future Investment Initiative conference on Tuesday, Saudi Arabia’s crown prince said he would be prepared to “destroy” extremist ideologies in order to put […]

India’s government on Tuesday announced a massive bank recapitalization plan worth tens of billions of dollars — a possible “game changer” for the country’s bad loans problem. The plan could not only provide cheer for investors worried about Indian banks’ worsening balance sheets, but it may also have far-reaching implications for the country’s economic prospects. […]

The Kurdistan Regional Government in a statement early on Wednesday offered to freeze the results of an earlier referendum on independence as part of an offer to defuse the crisis with the Iraqi central government in Baghdad. The statement also called for an immediate ceasefire and a halt to all military operations in the northern […]

China announced its new leadership lineup on Wednesday with President Xi Jinping still at the helm of the Chinese Communist Party. Although it’s a team in name, the Chinese president is now more powerful than he’s ever been. In the wake of the last week’s Communist Party congress, Xi now stands as China’s most powerful […]