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China will expand a program to support the completion of unfinished housing projects to 4 trillion yuan ($562 billion), Housing Minister Ni Hong said at a briefing on Thursday. That nearly doubles the scale of spending as Beijing bids to ease the real estate crisis, but investors had been hoping for more. “The property policies are focused on resolving the backlog of housing inventory, which doesn’t really help much with steel demand in the short term,” said Zhou Minbo, an analyst with GF Futures Co. Iron ore had rallied from a two-year low below $90 in late-September to above $110.…
By Rae WeeSINGAPORE (Reuters) – Asia shares dipped in and out of positive territory on Monday, under pressure from weakness in Chinese stocks, but bitcoin scaled a three-month peak as “Trump trades” continued to ramp up.Gold hit another record high on conflict in the Middle East and an extremely close U.S. presidential election, with the yellow metal expected to stay in favour among much global uncertainty.Optimism over Beijing’s slew of stimulus measures first announced late in September has turned into caution in recent days as investors look to further details of more fiscal support from policymakers.Though China cut its benchmark…
TOKYO & KUALA LUMPUR, Oct 21, 2024 – (JCN Newswire) – – GHL Systems Berhad (GHL) and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan’s leading international payment brand (JCB) have officially announced its strategic partnership, enabling the acceptance of JCB Cards for GHL’s merchants in Malaysia, Thailand and the Philippines. This regional collaboration represents a significant step forward for both companies, aiming to empower merchants and shoppers across these regions with enhanced payment convenience. With JCB’s extensive global presence and card network, this partnership adds another dimension to GHL’s payment solutions. GHL merchants will…
Sama Bilbao y León, Director General at the World Nuclear Association, discusses the growing demand for clean energy as US tech giants are investing in the sector to support the buildout of data centers. She speaks with Shery Ahn and Haidi Stroud-Watts from the sidelines of the “Singapore International Energy Week” event on “Bloomberg: The Asia Trade” (Source: Bloomberg) Source link
By Rae Wee SINGAPORE (Reuters) – Asia shares dipped in and out of positive territory on Monday, under pressure from weakness in Chinese stocks, but bitcoin scaled a three-month peak as “Trump trades” continued to ramp up. Gold hit another record high on conflict in the Middle East and an extremely close U.S. presidential election, with the yellow metal expected to stay in favour among much global uncertainty. Optimism over Beijing’s slew of stimulus measures first announced late in September has turned into caution in recent days as investors look to further details of more fiscal support from policymakers. Though…
By Byron Kaye SYDNEY (Reuters) – A court on Monday ordered Australia’s Qantas Airways to pay a combined A$170,000 ($114,000) to three baggage handlers it unlawfully sacked in 2020, implying a big damages bill for a lawsuit involving about 1,700 former workers whose jobs were outsourced. Federal Court Judge Michael Lee said Qantas must pay each of the fired workers A$30,000, A$40,000 and A$100,000 respectively for non-economic loss to reflect the “harm sustained” when the airline laid off them and their colleagues to prevent industrial action. The carrier must use those payouts as “test cases” as it negotiates with a…
Amit Bouri speaks with David Bank about the ‘inevitability of impact investing and 15 years of the Global Impact Investing Network Source link
By Samuel Shen and Vidya RanganathanSHANGHAI/SINGAPORE (Reuters) -China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy.The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10% from 3.35%, while the five-year LPR was cut by the same margin to 3.6% from 3.85% previously.The lending rates were last cut in July.People’s Bank of China (PBOC) Governor Pan Gongsheng told a financial forum last week lending rates will decrease by 20 to 25 basis points…
China’s central bank supplied 14-day cash to its banking system for the first time in months on Monday and at a lower interest rate, signaling its intent to further ease monetary conditions.Jiang Qiming | China News Service | Getty ImagesChina on Monday lowered its main benchmark lending rates by 25 basis points at the monthly fixing.The one-year loan prime rate (LPR) has been cut to 3.1%, while the five-year LPR has been trimmed to 3.6%, the People’s Bank of China (PBOC) said.The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a…