ASIA: BNP Paribas’ asset management arm is in talks to form a wealth management venture with a unit of Agricultural Bank of China (AgBank), as the French firm pursues a bigger slice of China’s $19 trillion market, Reuters reported. China further deregulated its financial markets in 2019, allowing foreign asset managers to form majority-owned wealth […]

ASIA: President Xi Jinping announced plans this month to spread “common prosperity” in what is one of the world’s most unequal major economies, signaling a shift from his predecessors’ pursuit of growth and heralding a tough crackdown on wealthy elites – including China’s burgeoning group of technology billionaires. China, the first country to succumb to […]

Let me explain something. What I have pointed out about gold is that it DOES NOT rally merely because of inflation or the rise in debt. It will rally when we are looking at the collapse in confidence. The central banks have no desire to raise for their own budget will blow apart. The Fed […]

ASIA: China’s economy stalled this month as the country tried to stamp out a surge in coronavirus cases and contended with the ongoing shipping crisis. China’s economy initially coped with the pandemic much better than many of its peers, recording growth last year as others shrank. But the fallout from the Delta variant and China’s […]

ASIA: China’s businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while the services sector slumped into contraction, raising the likelihood of more near-term policy support to boost growth. The world’s second-biggest economy staged an impressive recovery from a coronavirus-battered slump, but momentum has weakened […]

ASIA: China is maintaining “normal communication” with the United States on trade, the Chinese government said on Thursday. Washington and Beijing signed a so-called Phase 1 trade deal in January 2020, before the widespread outbreak of COVID-19. The pact calls for China to increase its purchases of U.S. exports by $200 billion over two years. […]

ASIA: The Reserve Bank of India may launch its first digital currency trial programs by December, central bank governor Shaktikanta Das told CNBC. Central banks including those in China, Europe, and the UK are exploring digital currencies that they would issue, either to commercial lenders or to the public directly. The RBI is studying various […]

ASIA: China’s President Xi Jinping said China will strive to hit key economic and social development targets set for this year, even as authorities maintain an aggressive approach to containing Covid-19. Xi said China should push for high-quality development and better coordinated policies around development and safety. He was speaking during a visit to Chengde […]

ASIA: India’s July crude oil imports slumped to their lowest in a year, tanker arrival data from industry sources showed, and are likely to rebound in August as refiners are expected to boost runs after the maintenance of units. Crude imports in July fell 12.5% month-on-month to 3.4 million barrels per day (bpd), but rose […]

ASIA: China released economic data for July that showed slower-than-expected growth as the world’s second-largest economy battled floods and a resurgence of Covid-19. The slowdown was particularly apparent in individual Chinese consumer spending, despite authorities’ efforts to build up consumption as a driver of economic growth. The data showed consumers cut back on spending across […]