Aggressive pricing, shrewd tax engineering and a trusted local partner have propelled China’s BYD to a commanding position in Sri Lanka’s electric vehicle and hybrid market, disrupting a sector long constrained by import restrictions and setting the stage for dramatic expansion. Sri Lanka’s car market, starved of new imports for nearly five years under a…
The worldwide financial system needs to rewrite its rules for a future of tokens, as the rise of stablecoins poses new challenges to the global infrastructure for instant payment, clearing and settlement, according to the gatekeeper of the world’s central banks. Stablecoins, which are digital tokens backed by fiat currencies or other reserve assets, could…
The Hong Kong Monetary Authority (HKMA) stepped into the foreign-exchange market on Friday for the fifth time in two weeks, scooping up the local currency and increasing overnight lending costs to drive away carry traders who have sought to take advantage of the city’s rate gap with the US dollar. The city’s de facto central…
Indian equity indices are expected to open on a positive note following mixed global cues. The Asian indices were mixed in morning trade. The GIFT Nifty was trading 0.15% higher at 25,532. Here are key global cues to watch before the market opens that include crude oil prices, FII and DII data, business groups that…
Issuing a stablecoin pegged to the offshore yuan in Hong Kong may be more feasible than in mainland China due to the latter’s capital controls, a central bank adviser has said. The comments from Huang Yiping, also dean of Peking University’s National School of Development, came as worries arise in Beijing’s policy circles that Washington…
Hong Kong’s approved mortgage loans surged to a one-year high in May as more homebuyers sought to refinance their existing loans amid lower bank rates, according to data from the Hong Kong Monetary Authority (HKMA). Banks approved HK$26.6 billion (US$3.39 billion) worth of loans in May, a 5.3 per cent rise from a month earlier,…
Hong Kong’s approved mortgage loans surged to a one-year high in May as more homebuyers sought to refinance their existing loans amid lower bank rates, according to data from the Hong Kong Monetary Authority (HKMA). Banks approved HK$26.6 billion (US$3.39 billion) worth of loans in May, a 5.3 per cent rise from a month earlier,…
The Hong Kong Chief Executive’s Council of Advisers has welcomed three new members, including two tech bosses from Hangzhou’s “Six Little Dragons” and a mainland Chinese economist who was a senior official with the International Monetary Fund (IMF). The government on Friday announced the appointment of 34 members to the second term of city leader…
US President Donald Trump has upset the world’s markets and shaken confidence in the US dollar with his latest criticism of Federal Reserve Chair Jerome Powell and indication that he would appoint a successor earlier than usual. The dollar has fallen to its lowest in three years. read more With his latest salvos at Federal…
Representative image (Picture credit: AP) Asian equities were largely flat on Thursday while oil prices stabilised, as markets took stock of easing geopolitical tensions and awaited fresh cues on US fiscal and trade policy, especially US President Donald Trump’s looming tariff deadline. According to news agency Reuters, investors remained cautious amid uncertainties surrounding Federal Reserve…