Addressing the challenges facing insurance firms in Hong Kong
New regulatory frameworks, the impact of climate change on risk management, and the importance of ESG concerns are creating challenges for insurance firms.
US CPI to Drive Markets This Week as the Probability of Further Rate Hikes Linger
The DXY struggles to hold on to early session gains following mixed messaging from Fed policymakers. US CPI is likely to drive the DXY and overall sentiment this week.
UK Hiring Falls at Fastest Pace in over Three Years
LONDON, Aug 7 Reuters British employers reduced the number of new permanent staff they hired through recruitment agencies by the most since mid 2020 last month due to concerns about the economic outlook, adding to signs that the market is becoming tougher for job seekers. A gauge of permanent staff hiring by the Recruitment and […]
Foxconns July Sales Drop 1.23 YoY, Forecasts Q3 Rebound
TAIPEI, Aug 5 Reuters Taiwan39;s Foxconn, the world39;s largest contract electronics maker and a major supplier for Apple, said on Saturday revenue in July fell 1.23 yearonyear but forecast a business rebound for the third quarter. Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T469.23 billion 14.82 billion, up […]
China Can no Longer Extend and Pretend on Municipal Debt
Chinese leaders promise basket of measures to fix local debt Latest Politburo stance suggests Beijing may be ready to step in Extent of Beijing39;s involvement closely watched by economists Measures could involve state bank loans, special bonds BEIJING, Aug 7 Reuters China39;s promised basket of measures to defuse local government debt risks is likely to […]
China Life Mandates Banks for Up to 2 bln Bond Offering
HONG KONG, Aug 7 Reuters China Life Insurance Overseas Hong Kong has mandated banks for its 10year subordinated bond offering, according to a preliminary term sheet seen by Reuters on Monday. The Hong Kong arm of China39;s secondbiggest insurer by assets is looking to raise between 1 billion and 2 billion, people with direct knowledge […]
Thai Inflation Slower than Expected in July, Small Rises Seen
July headline CPI 0.38 yy vs 0.64 in Reuters poll July core CPI 0.86 yy vs 0.90 in poll Headline CPI seen up slightly in August ministry BANGKOK, Aug 7 Reuters Thailand39;s annual headline inflation was weaker than expected in July, helped by lower food and energy prices, and the commerce ministry said on Monday […]
UK House Prices Fall again but Market Shows ResilienceHalifax
LONDON, Aug 7 Reuters British house prices fell in July for the fourth time in a row in monthonmonth terms but the market is showing some signs of resilience in the face of the climb in borrowing costs, mortgage lender Halifax said on Monday. Prices fell by 0.3 from June and in yearonyear terms they […]
Indias July Retail Vehicle Sales Up; Dealers Body Flags Rising Inventory
BENGALURU, Aug 7 Reuters Retail sales of vehicles in India rose in July, a dealers39; body said on Monday but cautioned of rising inventory levels and demand slowdown in certain categories despite the upcoming festive period. Inventory days, an indicator of retail demand, ranged from 5055 days for passenger vehicles, up from 4549 days in […]
Siemens Energy Books 2.4B in Charges for Wind Turbine Issues
UBS put worst case cost estimate above 5 bln eur Company expects net loss of 4.5 bln eur in 2023 Order backlog hits new record after Q3 Frankfurtlisted shares down 3.6 FRANKFURT, Aug 7 Reuters Siemens Energy on Monday said problems recently unveiled at its wind turbine unit would cost it 2.2 billion euros 2.4 billion, well short […]