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November 21, 2016 9:25 AM Citi and JPMorgan top list of globally systemic banks

LONDON: Citi joined JPMorgan as the world's most systemically important banks, replacing HSBC in a group of 30 lenders who must hold extra capital from 2019 to preserve financial stability. The group of 20 economies (G20) agreed after the 2007-09 financial crisis that top lenders, whose size and complexity means that a collapse could wreak havoc in markets 16

November 21, 2016 8:30 AM Asia-Pacific summit closes with call to work for free trade

The Asia Pacific Economic Cooperation forum also closed with a joint pledge to work toward a sweeping new free trade agreement that would include all 21 members as a path to sustainable, balanced and inclusive growth, despite the political climate. The Asia Pacific Economic Cooperation forum also closed with a joint pledge to work toward a sweeping new free trade 8

November 21, 2016 6:09 AM Asia shares listless but China, Japan rise on dollar's gain

HONG KONG (AP) — Shares in Japan and China rose Monday as the dollar's strength lifted the outlook for their exporters but other Asian shares were listless as investors increasingly factored in a December Fed rate cut. KEEPING SCORE: Japan's benchmark Nikkei 225 index rose 0.7 percent to 18,099.04 and the Shanghai Composite Index added 0.6 percent to 3,213.19. However 13

November 21, 2016 5:44 AM In Weekend Of Deliberation, Mattis Favored For Trump Pentagon Chief

Chris Christie and Rudy Giuliani also attended the meetings. President-elect Donald Trump on Sunday assessed several more contenders for top U.S. posts including Chris Christie and Rudy Giuliani, as blunt-spoken retired Marine Corps General James Mattis emerged as a leading candidate for defense secretary. Trump held meetings at his golf resort in Bedminster 12

November 21, 2016 3:10 AM BNM warning to ringgit sellers brings back memories of 1998 peg

This comes as the ringgit tumbled for eight straight days through Friday, sinking to RM4.419 per dollar, the weakest level since Jan 18. KUALA LUMPUR: Malaysia’s attempt to cajole currency traders to stop selling down its plunging ringgit is evoking memories of 1998 capital controls among global banks – a comparison policy makers were quick to discourage 22

November 21, 2016 2:27 AM Obama defends free trade at Asia-Pacific summit rattled by Trump (VIDEO)

While Obama sought to sound upbeat about the TPP’s prospects, some experts say Trump’s attacks on the agreement — which he called a ‘terrible deal’ — and his Republican allies’ control of Congress mean it is dead in the water. — Reuters picLIMA, Nov 21 — US President Barack Obama yesterday defended free trade as fellow Asia-Pacific leaders vowed to fight 9

November 20, 2016 11:11 PM Asia-Pacific leaders vow to fight protectionism

Prime Minister Datuk Seri Najib Razak (second from right) attending the APEC Business Advisory Council (ABAC) session in conjunction with the APEC Summit in Lima, November, 20, 2016. ― Bernama picLIMA, Nov 21 — Asia-Pacific leaders vowed yesterday to fight protectionism at the close of a summit upended by US President-elect Donald Trump’s shock victory 17

November 20, 2016 10:25 AM Asia to narrow trade focus as protectionism rises, say analysts

China President Xi Jinping at the Apec CEO Summit yesterday. — Reuters picLIMA, Nov 20 — Fast-growing Asia-Pacific economies will strike more trade deals among themselves as opposition grows in Europe and the US to globalisation, analysts say, warning the West will lose out as the dynamic region powers ahead. The most high-profile victim of recent protectionist 13

November 20, 2016 8:20 AM Malaysia sturdy to face pressure on Ringgit

KUALA LUMPUR: In July 1997, East Asian economies including Thailand, Indonesia, South Korea and Malaysia went into a tail-spin when their currencies and stocks took a severe beating due to excessive speculative activities which led to a full-blown financial crisis. Unlike some other economies, Malaysia refused aid from the International Monetary Fund and unorthodox 77

November 20, 2016 6:50 AM BNM to act against banks trading in offshore ringgit

Malaysia’s central bank said “prompt supervisory intervention” will be taken against any individuals or banks which are engaged in ringgit trade in the non-deliverable forwards (NDF) market. Bank Negara Malaysia (BNM) governor Datuk Muhammad Ibrahim said it has been made clear to local banks that onshore opening ringgit prices cannot reference offshore 40