Search Results for: economy
China Bans Stock Sales by Major Shareholders for Six Months
July 8th, 2015
China’s securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, its latest effort to stop the nation’s $3.5 trillion stock-market rout. Investors with stakes exceeding 5 percent must maintain their ...
Westpac VC invests in Bitcoin player Coinbase
July 8th, 2015
In a deal that will put Westpac Banking Corp in the box seat as cryptocurrencies develop, the bank’s venture capital fund, Reinventure Group, has invested in Coinbase, one of the world’s pre-eminent Bitcoin companies. In the first deal involving ...
Greece debt crisis: Tsipras appeals for European unity
July 8th, 2015
Greek Prime Minister Alexis Tsipras has called for the European Union to avoid division, as indebted Greece struggles to stay in the euro. In a sometimes stormy debate in the European Parliament, he said: “Let’s not let Europe be ...
Oil prices fall as China share crisis worsens, traders hedge for further drops
July 8th, 2015
Oil futures fell again on Wednesday as worries over the Greek debt crisis and China’s stock market turmoil outweighed an expected U.S. inventory drop, with traders anticipating further drops. Chinaoil prices’s stocks tanked further on Wednesday in a deepening ...
Greece Given Until Sunday to Settle Debt Crisis or Face Disaster
July 8th, 2015
Frustrated European leaders gave Greece until Sunday to reach an agreement to save its collapsing economy from catastrophe after an emergency summit meeting here on Tuesday ended without the Athens government offering a substantive new proposal to resolve its debt ...
Chinese shares fall another 8% despite more measures
July 8th, 2015
Mainland Chinese shares continued to slide on Wednesday, falling more than 8% on opening. The slump came despite more moves by China’s regulators to try and stabilise the recently volatile market. The Shanghai Composite had recovered some losses by ...
China’s central bank injects US$8b into market
July 7th, 2015
The People’s Bank of China, China’s central bank, has injected 50 billion yuan (US$8.2 billion) into the money market through open market operations, it announced on Tuesday. This has marked the fourth consecutive cash injection through the central bank’s ...
Ragin’ Contagion: When Debtors Go Broke, So Do Mercantilist Exporters
July 7th, 2015
Papering over the structural imbalances in the Eurozone with bailouts or bail-ins will not resolve the fundamental asymmetries in trade. Beneath the endless twists and turns of Greece‘s debt crisis lie fundamental asymmetries that doom the euro, the joint currency that ...
MAS’ response to media queries on recent developments in Greece
July 7th, 2015
In response to media queries, the Monetary Authority of Singapore (MAS) said that Singapore’s domestic money and foreign exchange markets continue to function in an orderly fashion. The direct exposure of our economy and banking system to Greece is ...
Statement by Glenn Stevens, Governor: Monetary Policy Decision
July 7th, 2015
At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent. The global economy is expanding at a moderate pace, but some key commodity prices are much lower than a year ago. This ...