Month: May 2023

CICC Capital bans consulting firm Capvision after China crackdown

Reuters exclusively reported that CICC Capital, a unit of leading Chinese investment bank CICC (3908.HK), has stopped using Capvision Partners’ services following an investigation into the “expert network” as part of Beijing’s crackdown on national security. The post CICC Capital bans consulting firm Capvision after China crackdown appeared first on Reuters News Agency.
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Turkey faces election runoff, Erdogan seen with momentum  

Reuters led reporting of the Turkish presidential elections, from initial reports showing President Erdogan’s comfortable lead to the subsequent local news of his lead dropping below 50%, making a runoff likely. With Erdogan facing the most credible challenge to his power in two decades, markets were watching the results closely. The lira and stock markets […]
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China’s big four state banks to lower deposit rate ceilings

Reuters exclusively reported that China has told its “big four” state-owned banks to reduce the ceiling on interest rates they pay on some deposits. The interest rate self-disciplinary mechanism, a top regulatory body overseen by the People’s Bank of China, urged lenders to lower ceilings on some personal and corporate deposits by 30 basis points […]
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Biden to sign defense pact in Papua New Guinea, with eyes on China

Papua New Guinea’s foreign minister exclusively shared with Reuters that U.S. President Joe Biden will sign defense and surveillance agreements with the island nation, cementing the strategic importance of the nation where Biden’s uncle died in World War II. The post Biden to sign defense pact in Papua New Guinea, with eyes on China appeared […]
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Turkey defers $600 million Russian energy payment under deal

Reuters exclusively reported that Turkey has deferred payment to Russia of a $600 million natural gas bill to 2024 – the first such postponement – under a deal announced last week that underlines deepening ties between Ankara and Moscow.   The post Turkey defers $600 million Russian energy payment under deal appeared first on Reuters News […]
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