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ECB policy makers see no rush for cut ininterest rate

Frankfurt: European Central Bank (ECB) policy makers aren’t yet ready to rush into additional monetary stimulus at this month’s meeting, preferring instead to wait for more data on the economy, according to eurozone central-bank officials.

While Governing Council members agree that they could act on July 25 if the outlook deteriorates, they are currently leaning toward the following meeting in September when they’ll have updated economic forecasts to back up their decision, the people said

Foreign fund buying pushes Bursa Malaysia higher

PETALING JAYA: The longest-running bull market in Asia is back in positive territory for the sixth time this year, as foreign investors turned net buyers of Malaysian equities in June for the first time since January.

Bursa rallies: Investors monitor share market prices at a brokerage in Kuala Lumpur. The FBM KLCI added seven points to close at 1,691 points yesterday. This is 100 points higher than where it was two months ago.

London bank sector facing thousands of job cuts

LONDON: A banker who lost his job as part of Nomura Holdings Inc cuts, recalls the camaraderie at the riverside Oyster Shed bar next to the institution’s London headquarters one evening as the room filled with ex-employees.

HLB allocates capex of between 60-70% for digitisation in FY20

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) is allocating between 60 per cent and 70 per cent of its total capital expenditure (Capex) of RM220 million for the financial year ending June 30, 2020 (FY20), for digital capabilities enhancement and initiatives.