"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Sydney with Haidi Stroud-Watts and Paul Allen, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Sydney with Haidi Stroud-Watts and Paul Allen, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
Bangladesh’s central bank sought to reassure investors that the nation’s foreign-exchange market remains stable and the taka faces no immediate risk of depreciation, even as the currency slid to a fresh low against the dollar. “Supply and demand of foreign currency are currently balanced” and “confidence and order exists in the market,” the central bank said in a statement late Tuesday night. The ...
Bangladesh’s central bank sought to reassure investors that the nation’s foreign-exchange market remains stable and the taka faces no immediate risk of depreciation, even as the currency slid to a fresh low against the dollar. “Supply and demand of foreign currency are currently balanced” and “confidence and order exists in the market,” the central bank said in a statement late Tuesday night. The comments highlight policymakers’ efforts to anchor expectations as persistent currency weakness raises concerns over external stability and reserve adequacy — a key issue for investors assessing frontier-market risk. The taka fell 0.1% to a record low of 123.0235 against the dollar on Wednesday, according to data compiled by Bloomberg. Read More: Bangladesh GDP Growth Slows to 3% as Industrial Output Shrinks Foreign currency liquidity in the banking system rose to $3.9 billion as of April 6, from $2.3 billion at the end of February, according to the statement. Bangladesh’s foreign exchange reserves stand at about $34.35 billion, which is a “strong shield against international payment pressure,” the central bank said. Remittance inflows have also strengthened, reaching about $3.8 billion in March, the highest monthly figure on record. In the first six days of April, inflows totaled $660 million, nearly 21% higher than a year earlier. Despite banks’ net open positions rising to about $1 billion — above the $600 million to $700 million threshold that would typically trigger dollar purchases — the central bank has not intervened in the market over the past month, according to the statement. Had it done so, reserves would have been closer to $36 billion, it said. Import payments and foreign debt repayments are proceeding normally, the central bank said, with $1.37 billion in Asian Clearing Union bills and about $180 million in government external debt paid last month.
A Malaysian court has granted an application by anti-corruption officials to issue an arrest warrant for two sons of former finance minister Daim Zainuddin, after they failed to comply with repeated requests to turn up for questioning over their family’s wealth. Daim and his clan have been at the centre of a years-long probe into alleged abuse of power and corruption by the country’s elites, who c...
A Malaysian court has granted an application by anti-corruption officials to issue an arrest warrant for two sons of former finance minister Daim Zainuddin, after they failed to comply with repeated requests to turn up for questioning over their family’s wealth. Daim and his clan have been at the centre of a years-long probe into alleged abuse of power and corruption by the country’s elites, who critics have accused of colluding with two-time prime minister Mahathir Mohamad to enrich themselves...
Peruvians will choose from a bewildering array of 35 presidential candidates this Sunday, electing the next leader of an Andean nation beset by crime and a string of short-lived, scandal-tainted presidencies. “Now any old person runs for office,” said 51-year-old teacher Jane Layza, pondering the plethora of presidential hopefuls, and how she will cast her ballot. A few in the field are well known...
Peruvians will choose from a bewildering array of 35 presidential candidates this Sunday, electing the next leader of an Andean nation beset by crime and a string of short-lived, scandal-tainted presidencies. “Now any old person runs for office,” said 51-year-old teacher Jane Layza, pondering the plethora of presidential hopefuls, and how she will cast her ballot. A few in the field are well known – a popular male comic, the daughter of a brutal autocrat, and a former Lima mayor who likens...
Japan’s Chiyoda Corp. says it is considering resuming construction work on a giant liquefied natural gas export plant in Qatar, in a sign of cautious optimism hours after the US and Iran agreed a ceasefire. Qatar evacuated staff from its facility in Ras Laffan in early March following an Iranian drone attack. That shut production and again delayed the start of a massive expansion, which had been d...
Japan’s Chiyoda Corp. says it is considering resuming construction work on a giant liquefied natural gas export plant in Qatar, in a sign of cautious optimism hours after the US and Iran agreed a ceasefire. Qatar evacuated staff from its facility in Ras Laffan in early March following an Iranian drone attack. That shut production and again delayed the start of a massive expansion, which had been due to come online by the end of this year. Chiyoda, an engineering heavyweight, is one of the companies involved in that construction. “Based on the situation so far, we are considering the resumption of on-site work for the LNG project in Qatar,” a Chiyoda spokesperson said on Wednesday. Hours ahead of a deadline set by President Donald Trump, the US and Iran agreed to a two-week ceasefire that’s could pause a conflict that has damaged infrastructure across the region, and reopen the vital Strait of Hormuz. Chiyoda’s return to work in Ras Laffan will raise hopes for some parts of the wider facility, after operator QatarEnergy said last month the damage would take years to repair. Read More: Strikes on Qatar’s LNG Crown Jewel Reshape the Future of Gas Chiyoda shares surged to 16%, the most since March 18, touching the upper daily limit during morning trading hours in Tokyo as investors bet on the company as a key player in reconstruction across the Persian Gulf. The broader Topix Index gained as much as 3.5%. Companies like Chiyoda are “likely to play a key role in repairing or replacing energy infrastructure, including LNG, hydrogen, ammonia, decarbonization projects and desalination plants” in the Middle East, said Neil Newman, head of strategy at Astris Advisory Japan.