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JAKARTA: The Asia-Pacific region risks a damaging financial crisis from a surge of non-performing loans caused by rising insolvencies, a senior official from the World Bank Group's private sector arm said on Thursday.
HONG KONG (AFP): Asian markets mostly dropped Thursday (Sept 17) following a broadly negative lead from Wall Street after the head of the Federal Reserve warned of an "uncertain" outlook for the US economy and stressed the need for fresh stimulus.
NEW YORK: Asian shares were set to drift lower on Thursday as concerns about the strength of the recovery from the COVID-19 pandemic remained, even after the U.S. Federal Reserve pledged to hold interest rates near zero until at least 2023.
WASHINGTON, Sept. 16 (Xinhua) -- The U.S. Federal Reserve on Wednesday kept its benchmark interest rate unchanged at the record-low level of near zero and signaled to maintain this target range until at least 2023.
LONDON: The global economic slump won’t be as sharp as previously feared this year, though the recovery is losing pace and will need support from governments and central banks for some time yet, according to the OECD.
TOKYO (Xinhua): Japan's National Diet started an extraordinary session on Wednesday (Sept 16), in which the newly elected president of the ruling Liberal Democratic Party (LDP) Yoshihide Suga is expected to be officially named as the country's new prime minister.
HONG KONG (AFP): Asian stocks edged up Wednesday (Sept 16) but investors trod a cautious path following a broadly positive start to the week, with focus on the outcome of the Federal Reserve's latest policy meeting.
SHANGHAI/NEW YORK: Most Asian shares rose on Wednesday, extending a rally driven by upbeat Chinese and U.S. economic data, but the dollar, U.S. yields and gold held steady as investors awaited the Federal Reserve's view on the economy at its policy meeting.
TOKYO (Reuters) - Yoshihide Suga became Japan's first new prime minister in nearly eight years on Wednesday, pledging to contain COVID-19 and push reforms after retaining about half of predecessor Shinzo Abe's lineup in his cabinet.