PIMCO predicts no more rate hike this mid-year
US bond giant PIMCO predicts the Federal Reserve will begin lowering interest rates in mid-year, with a more gradual easing cycle in the US. PIMCO prefers bond markets in countries like Australia, Canada, and the UK due to lower inflation risks. The US has maintained strong momentum, with supportive factors like larger stimulus programs, higher…
Swiss bank UBS launch $2 billion share buyback program
Swiss bank UBS has announced a new share buyback program worth up to $2 billion, with half of the amount to be completed by 2024. This follows a 2022 buyback of $5.2 billion to repurchase 298.5 million shares, or 8.6% of UBS’s total equity. The plan aims for share repurchases to surpass pre-acquisition levels by…
Indonesia new president maintain relations with china’s
Indonesia’s President-elect Prabowo Subianto visited Beijing for his first international trip since winning the presidency, expressing support for closer Indonesia-China relations and continuing President Joko Widodo’s policy of friendship with China. Prabowo’s new administration aims to bring the two nations’ development goals closer and demand greater progress in areas like trade, economy, and poverty reduction.…
Russia’s demand for Yuan is doubling
Russia’s central bank has given banks 2.5 billion Chinese yuan ($346.25 million) in exchange for 31.8 billion roubles in currency swap operations. The bank plans to change exchange rates for yuan sales starting March 25 and raise the daily volume of currency exchange transactions from 10 billion yuan to 20 billion yuan. The bank believes…
Thailand’s welcoming casinos tourist
Thailand’s prime minister has supported a move to legalize casinos, aiming to create employment and regulate the illegal gaming sector. Currently, gambling is only allowed at state-run horse races and the lottery, but illegal gambling and soccer betting are common. The legal casino market could attract more tourists to Thailand, giving it competition for Macau,…
Barack Obama and Bill Clinton support fundraiser for Biden reelection
Democratic former presidents Barack Obama and Bill Clinton will support President Joe Biden at a fundraiser in New York, expected to collect over $25 million. The event, moderated by Stephen Colbert, will feature performers Queen Latifah, Lizzo, Ben Platt, Cynthia Erivo, and Lea Michele. Biden’s reelection campaign claims this will be the most successful political…
Dollar rate on Yen reached 34 year high
As the first quarter comes to an end, the US dollar surged against the Swiss franc, Chinese yuan, and Japanese yen, earning warnings from Japanese government officials. The dollar/yen exchange rate reached a 34-year high, topping earlier highs from 2022 that prompted Bank of Japan intervention. The weaker yen was welcomed by Japanese equities as…
China ask Banks to fastened loans approval
Chinese regulators are pressuring banks to approve new loans to cash-strapped private real estate developers more quickly to boost purchaser confidence and potentially damage lenders’ asset quality. The initiative uses the “whitelist” mechanism, Beijing’s most recent support move, to ease the sector’s liquidity pressure and encourage home purchases. Despite repeated proddings from Beijing, leading domestic…