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Emerging markets - Singapore, Thailand rise as Philippine shares lead gains on robust data but currencies muted
Philippine shares snapped a three-day decline to mark their best session in three weeks, leading gains among emerging Asian markets on Thursday as strong economic data aided sentiment.
Stocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected.
PETALING JAYA: The sale of IJM Corp Bhd’s entire 56.2% stake in subsidiary IJM Plantations Bhd (IJMP) to Kuala Lumpur Kepong Bhd (KLK) may lead to lower volatility in IJM’s earnings due to fluctuating crude palm oil (CPO) prices and foreign exchange gains or losses from IJMP’s foreign-denominated debts.
(Reuters) -Remitly Inc is aiming for a valuation of nearly $7 billion in its U.S. initial public offering (IPO), a regulatory filing showed on Tuesday, as the remittance processor looks to offer cheaper and more convenient options compared to bigger rivals.
BEIJING: Chinese merchants are already preparing for the cross-border usage of digital yuan, or e-CNY, at a time when some major central banks in the world have not yet decided to develop their own digital currencies.
Strong position signals credibility, financial strength
PETALING JAYA: The Malaysian Investment Development Authority (Mida) and Citibank Bhd (Citi Malaysia) have teamed up to provide a financial platform and end-to-end banking services to new and existing foreign investors in Malaysia.
Company poised to operate at full capacity soon
The Bank of Indonesia (BI) and the People’s Bank of China (PBC) on Monday (Sept 6) officially started the implementation of cooperation in the settlement of bilateral transactions with local currencies (LCS) between Indonesia and China.
SAN SALVADOR (Reuters) - El Salvador will on Tuesday become the first country in the world to recognize bitcoin as legal tender, a move President Nayib Bukele says will save Salvadorans living abroad millions of dollars in commissions on money they send home.