Financial system bill heralds changes from crypto to Bank of Indonesia
The draft of the financial sector development and strengthening law entails new rules on banking, insurance, carbon trading, a digital rupiah, and much more.
Finance
Johor govt in talks with companies keen on investing locally
The 20 companies that expressed interest in the investment are from the data centre, pharmaceutical, and petro-chemical sectors.
World Bank cuts Bangladesh’s growth forecast by 0.6 percentage points to 6.1%
The lender predicted 6.7 percent growth of Bangladesh's economy in June this year but revised it further, which would be lowest since 2019-20 when GDP growth fell to 3.45 percent.
Vietnam market plunges on bearish sentiment
The Ho Chi Minh Stock Exchange was slack on October 6 since investors traded just VND9.8 trillion (US$410 million) worth of shares on the exchange.
Housing sector constrained by rising interest rates, sluggish buying power
Indonesia’s increasing interest rate will significantly impact the housing sector considering 90 percent of its buyers are home-buyers who use the property or housing loans.
China RMB settlements with Belt and Road countries up in 2021
These RMB settlements accounted for 14.8 per cent of China's total cross-border use of RMB in 2021, according to a report by the People's Bank of China.
ADB announces $2.3-2.5 billion to support flood relief efforts in Pakistan
ADB Country Director Yong Ye stated that Pakistan’s economy faced huge challenges, but assured that the government had arrested the decline and set it on the right trajectory.
Hong Kong secretary for financial services visits Asian finance officials in Philippines
During the meetings, he encouraged the ADB to make use of the broad availability of financiers in Hong Kong for fundraising.
Finance chief upbeat over Hong Kong’s financial centre role
With the internationalisation of the renminbi, Hong Kong will play an even bigger role as an offshore renminbi business hub, Paul Chan Mo-po said.
Renminbi’s global use set to expand
Experts said the rising global profile of the renminbi can contribute to the world's shift to a multipolar currency system that is less dependent on the greenback.