Asean sanctuary standing gives concern to Thai central bank to baht

Bank of Thailand governor Veerathai Santiprabhob said Feb 23 that foreigners saw the state as a “safe haven” as well as the baht’s strength was not helping the market. PICTURE: REUTERS [BANGKOK] Thailand’s popularity among bond investors is developing a problem for policy makers counting on tourism and exports to drive increase. Some US$2.1 billion of foreign money has flowed …

Australia, NZ dollars demanded as returns move against them

The Australian and New Zealand dollars were on the defensive on Monday as the building threat of an impending rise in US interest rates eroded the monies’ return advantage over the US dollar. PICTURE: BLOOMBERG [SYDNEY] The Australian and New Zealand dollars were on the defensive on Monday as the building threat of an impending rise in US interest rates …

Hazard supervisors to transfer into independent component: sources

Goldman Sachs Group Inc intends to transfer its risk management team into an unaffiliated component, individuals comfortable with the issue said, a move that’s mostly symbolic but indicates its growing significance. PICTURE: REUTERS [NEW YORK] Goldman Sachs Group Inc intends to transfer its risk management team into an unaffiliated component, individuals comfortable with the issue said, a move that’s mostly …

As Yellen signals rate rise uS dollar slips

The US dollar fell against a basket of major currencies on Friday after Federal Reserve Chair Janet Yellen stated that this month, increasing interest rates would be suitable provided that the market continues to improve as expected. PICTURE: BLOOMBERG [NEW YORK] The US dollar fell against a basket of major currencies on Friday after Federal Reserve Chair Janet Yellen stated …

Profits climb at SocGen's auto leasing arm ALD Automotive ahead of IPO

ALD Automotive, the auto leasing arm of French bank Societe Generale, reported on Friday a 21 per cent rise in its net profits this past year, as it prepares for a market flotation that could value it at more than 6 billion euros (S$8.915 billion). PICTURE: BLOOMBERG NEWS [PARIS] ALD Automotive, the auto leasing arm of French bank Societe Generale, …

Sterling borders lower ahead of UK services PMI data

Sterling edged lower on Friday against the US dollar, trading only off a 6-week low ahead of an industry survey anticipated to support a slowing in the dominant services sector of Britain ahead of the start of European Union leave talks . PICTURE: AFP [LONDON] Sterling edged lower on Friday against the US dollar, trading only off a 6-week low …

DBS CEO says wealth management to account for a fifth of bank's sales

DBS Group Holdings expects to expand its wealth management operations as Asia’s wealth grows, accounting for as much as 20 per cent of the bank’s entire income during the the next couple of years, Piyush Gupta, the CEO of Southeast Asia’s biggest bank by assets, said. PICTURE: REUTERS [SINGAPORE] DBS Group Holdings expects to expand its wealth management operations as …

Australian dollar rangebound, NZD near 6-week lows

The Australian dollar stood at US$0.7658, down a little 0.2 per cent. PICTURE: BLOOMBERG NEWS [SYDNEY] The Australian dollar held its own on Thursday, regardless of the greenback reaching a seven- week elsewhere confidence over international increase underpinned commodity costs and equities. The Australian dollar stood at US$0.7658, down a little 0.2 per cent. It traded in a US$0.7605/0.7731 range …

Australia, NZ dollars tread water ahead of Trump address

As the world expected a speech by US President Donald Trump in which he may place more meat on the bones of his financial and tax policies, the Australian and New Zealand dollars treaded water on Tuesday. PICTURE: BLOOMBERG NEWS [SYDNEY] The Australian and New Zealand dollars treaded water on Tuesday, as the world expected a speech by US President …

Singapore Jan bank financing slows for the very first time 4 months

Singapore’s overall bank financing in January slowed for the very first time in four months, as a result of drop in general business, central bank data showed on Tuesday. ST PICTURE [SINGAPORE] Singapore’s overall bank financing in January slowed for the very first time in four months, as a result of drop in general business, central bank data showed on …