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China economists expect interest rate, RRR moves in coming weeks

SHANGHAI: China is expected to adjust money and credit supplies in coming weeks, including cuts to interest rates or reserve ratio requirements, in order to counter "downside risks", the official China Daily said, citing economists

Chinese banks extended 1.18 trillion yuan in net new yuan loans in May, up from 1.02 trillion yuan in April, People's Bank of China (PBOC) data showed on Wednesday, but less than the 1.225 trillion yuan expected by analysts

Muted US inflation strengthens case for Fed rate cut

WASHINGTON: U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy increased pressure on the Federal Reserve to cut interest rates this year.

U.S. central bank policymakers are scheduled to meet on June 18-19 against the backdrop of rising trade tensions, slowing growth and a sharp step-down in hiring in May that has led financial markets to price in at least two rate cuts by the end of 2019.

Grab eyes Singapore online banking licence

SINGAPORE: Grab, South-East Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the city-state consider allowing online-only banks, sources said.

India set to overhaul corporate governance

NEW DELHI: Narendra Modi, who recently won a second term as India’s prime minister, is looking to overhaul the nation’s corporate governance system that allowed a string of frauds to mar his first stint in office.

‘Sexy access’ lures younger bankers to family office jobs

NEW YORK: Family offices are on the hunt for talent. Yet attracting ­financial hotshots to C-level positions at wealthy families’ investment offices is tricky work, mostly because not everyone is prepared for the culture change.

TM appoints new director

PETALING JAYA: Telekom Malaysia Bhd (TM) has appointed Datuk Ibrahim Marsidi as its independent and non-executive director.In a filing with Bursa Malaysia, the company said Ibrahim, 66, began his career with Malayan Banking Bhd in 1979 as a sub-accountant.

Ibrahim Marsidi(filepic) is Telekom's new independent and non-executive director.

Britain may get another foreign central bank chief

LONDON: Raghuram Rajan has delivered some uncomfortable economic truths in a career spanning the International Monetary Fund (IMF) and powerful positions in his native India. The question is whether Brexit Britain is ready to hear them from another foreign Bank of England (BoE) governor.

Rajan(pic has made sympathetic noises toward the UK’s dilemma, particularly the disillusionment in parts of the country that fuelled the Brexit vote.

Second merger wave likely to hit UAE lenders

Dubai: Banks in the United Arab Emirates may go through a second wave of consolidation as lenders seek to improve profitability and tackle inefficiencies, according Bloomberg Intelligence.