Prudential’s interim results missed market estimates after a valuation loss in its investment portfolio drove the UK insurer to an unexpected plunge on its bottom line. Net profit fell 87 per cent from last year to US$120 million in the first six months of 2024 after deducting a short-term investment loss of US$1.08 billion, in
The maturing debt of “most” of these financing platforms had either been extended, restructured or replaced, Pan said, adding that financing costs for local government debt had fallen “significantly”. He also said the number of high-risk small and medium-sized banks had “nearly halved from the peak”. The central bank will aim to guide “reasonable” growth
Washington — China and Russia agreed to expand their economic cooperation using a planned banking system, which analysts say is aimed at supporting their militaries and undermining U.S.-led global order. The two countries issued a joint communiqué agreeing “to strengthen and develop the payment and settlement infrastructure,” including “opening corresponding accounts and establishing branches and
Facing an economic crisis and consequently fewer US dollars and other hard currencies, Egypt floated a three-year sustainability panda bond worth 3.5 billion yuan (US$478 million) in October. Panda bonds – typically denominated in yuan and issued in China by non-Chinese organisations, including governments and corporations – have gained traction as traders and countries seek
Chinese e-commerce giant Alibaba Group is upgrading its shares in Hong Kong to a primary listing, following through on a plan first proposed a little over two years ago and potentially allowing the company to tap massive flows of mainland Chinese capital. The Hangzhou, China-based company first listed on the New York Stock Exchange in
We recently compiled a list of the 10 Best Asian Stocks To Buy Now. In this article, we are going to take a look at where Mizuho Financial Group (NYSE:MFG) stands against the other Asian stocks. The Economy of Asia Asia the world’s largest and most populous continent has seen remarkable economic growth in recent decades.
China is closely monitoring the use of virtual assets in money laundering activities, according to the country’s highest court, in a move that legal experts say could increase the risk of prosecution for trading cryptocurrency on the mainland. Using virtual assets to transfer or convert criminal proceeds is among a range of money laundering methods
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: Last week’s market volatility is showing some signs of leveling out. But the sudden and severe moves in financial markets that had investors reeling on a Sunday night in August left many experts
Foreign investors have pulled a record £12bn out of China in an economic blow for President Xi Jinping. Fears over the future of the world’s second largest economy meant foreign investors withdrew $14.8bn (£11.6bn) between April and June, data from the State Administration of Foreign Exchange shows. It was only the second time more foreign money
“Currently, not many countries have good economic growth, maintained political stability, demographic bonus, and abundant natural resources. This means Indonesia should be a promising investment destination and a global talent destination for work. This will significantly affect the country, including capital gains, job opportunities, technology transfer, improvement