Private credit has since grown to around US$2 trillion, according to the IMF, which is raising a red flag over the sector. While this is small relative to the size of the financial system, private credit has the potential to suck much larger chunks of...
Meanwhile, China’s central bank has been on an easing trajectory, with its latest decision in February cutting 25 basis points from banks’ five-year loan prime rate (LPR), the largest shave since the LPR was designated as the main rate benchmark in 2019.People take pictures in...
It’s instructive to read Mervyn King, former governor of the Bank of England, in his book The End of Alchemy: Money, Banking and the Future of the Global Economy, to grasp why a repeat is so likely. He recalls that in the run-up to the...
The price decline last month preceded the government’s lifting of all property cooling measures amid slower than expected economic growth and a high-interest rate environment that has dented demand for property. 13:00How Hong Kong's housing market became among the world’s most unaffordableHow Hong Kong's housing market...
Major Wall Street indices surged to fresh records on Wednesday after the Federal Reserve reaffirmed plans for interest rate cuts in the coming months, cheering investors who had feared a retreat.The US central bank as expected opted to keep interest rates unchanged for a fifth...
Hong Kong’s current property market downturn is cyclical and not structural, according to S&P, which expects home prices to decline by as much as 10 per cent this year as elevated interest rates keep demand in check.“We believe that there is pent-up home-buying demand in...
The Institute of International Finance (IIF) reported in its latest Global Debt Monitor on February 21 that over US$15 trillion was added to the global debt mountain last year, and the total is now a record US$313 trillion. But it is not so much facts...
Sino Land said that its profit in the July-to-December period last year – the first six months of its financial year – rose 6.5 per cent to HK$2.6 billion (US$332 million) even as revenue fell by about 23 per cent to HK$4.92 billion. Its property...
“Inflationary pressures will gradually abate, necessitating ‘higher for longer’ interest rates and the likelihood of a sustained period of weak global growth,” said Kelcie Sellers, an associate at Savills World Research.Singapore’s high-end residential market last year was affected by the imposition of a 60 per...
The tech industry has started 2024 with another wave of job cuts, paring back even further after widespread lay-offs last year.So far, some 32,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi, a start-up that has been tracking job cuts in the...