Author: Journalist

INDIA appointed Sanjay Malhotra, a career bureaucrat, as the new governor of the nation’s central bank, ending weeks of speculation over who would helm monetary policy in the world’s fastest-growing major economy. The new governor will take charge of the Reserve Bank of India (RBI) for a three-year term from Dec 11, according to a government statement on Monday (Dec 9). He succeeds Shaktikanta Das who has been the RBI chief since 2018. Malhotra, currently serving as revenue secretary in the Ministry of Finance, has more than three decades of experience in public policy, with expertise in areas such as…

Stay informed with free updatesSimply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox.El Salvador expects to reach agreement with the IMF in the next two to three weeks on a $1.3bn loan programme in return for changes to its pioneering use of bitcoin as legal tender and reductions in government deficits, according to two people close to the talks.An IMF mission has arrived in San Salvador to finalise details of the agreement with President Nayib Bukele’s government. The deal was expected to unlock another $1bn of lending from the World Bank and $1bn from the…

Last week, after Donald Trump announced that he would nominate Paul Atkins, a cryptocurrency advocate, to head the Securities and Exchange Commission (S.E.C.), the price of a Bitcoin topped a hundred thousand dollars, and crypto enthusiasts celebrated. The mood in the crypto markets reminded me of the dot-com boom, along with its inevitable bust, which I chronicled in a book more than twenty years ago. There was the same giddy excitement, the same predictions that prices could still go higher, much higher, and the same uneasy feelings among some longtime market participants and observers, me included.To be sure, there was…

THE Chinese government plans to transfer ownership in one of the nation’s biggest bad-debt managers to a unit of its sovereign wealth fund in coming weeks as part of a regulatory overhaul, according to people familiar with the matter. The Ministry of Finance is currently going through the process to move its holdings in China Cinda Asset Management to Central Huijin Investment, the people said, asking not to be identified as the matter is private. The plan is in its final stage but may still change or get delayed, they said. The progress reflects Beijing’s effort to disentangle its regulatory and…

LONDON – A British woman accused of stalking former British finance minister George Osborne and his wife for more than a year pleaded not guilty to the charges in a London court on Monday. Lydia Suffield is charged with stalking Osborne – finance minister from 2010 until 2016 – and Thea Rogers between June 8, 2022, and July 5, 2023. Prosecutors say the 27-year-old allegedly sent emails and messages on Instagram and also “false, anonymous tip-offs” to children’s charity the NSPCC, which resulted in “investigations for drug abuse and neglecting their children”. Suffield, from Liverpool, appeared at Westminster Magistrates’ Court,…

When President-elect Donald Trump returns to the White House next year, he’ll do so with a more sprawling business empire and far fewer promises about how he’ll avoid conflicts of interest.While Trump was primarily a real estate developer in his first term, he has since expanded dramatically into new industries including social media and cryptocurrency. The presidency has only further raised his profile and drawn Trump, a lifelong salesperson, to more licensing deals. He’s also grown his golf courses in Scotland while putting his name on products ranging from NFTs to Bibles to a resort in Oman.But Trump and his…

It’s been an interesting year for investors. As of 3 December, the Straits Times Index (SGX: ^STI) has gained over 16% and is trading at a 17-year high. The index’s performance came as a surprise to many as the Singapore stock market has been moribund since the pandemic ended. But besides the strong performance of the blue-chip index, other non-blue-chip stocks also performed very well. We round up five of the best-performing stocks for 2024 and review their latest earnings and prospects. Note: Share price data as of 29 November 2024. Centurion Corporation (SGX: OU8) Centurion Corporation owns, develops, and…

KUALA LUMPUR, MALAYSIA – Pinion Newswire – 9 December 2024 – In 2024, OctaTrader has emerged as a popular trading platform, demonstrating a six-fold year-on-year growth in its user base since its launch in late 2022. Recognized for its seamless and user-friendly experience, OctaTrader now introduces “Space,” a sophisticated analytics hub integrated into its platform, catering to traders worldwide. Introducing Space: Elevating Decision-Making for Traders Launched in Q3 2024, Space represents a significant step in financial analytics, combining machine learning algorithms with expert insights to provide predictive analytics and curated trading strategies. Embedded within OctaTrader, Space allows users to access…

Members of the public are seen shopping for Black Friday deals in Glasgow, Scotland. Jeff J Mitchell | Getty Images News | Getty ImagesLONDON — British businesses lost steam and pulled back on hiring last month, as industry reacted to the Labour government’s bumper tax-raising budget, new data showed Monday.Business confidence in the U.K. fell in November to its lowest level since January 2023, fresh data from business advisory and accountancy firm BDO showed.BDO’s Optimism Index fell 5.81 points on the month to 93.49, marking the biggest month-on-month decline since August 2021.The fall — which was recorded across both the services and manufacturing sectors…

Korea stocks drop as impeachment vote fails; China eases monetary policy stance, vows more fiscal spending; US Bitcoin ETF inflows near US$10 billion since Trump election win.Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region.Written and hosted by: Emily Liu ([email protected])Recording engineer: Chai Pei ChiehProduced and edited by: Claressa MonteiroProduced by: BT Podcasts, The Business Times, SPH MediaBT in your inboxStart and end each day with the latest news stories and analyses delivered straight to your inbox.—Follow BT Market Focus and rate…