(Bloomberg) — Hong Kong Financial Secretary Paul Chan warned that a fiscal deficit would present an obstacle to the city’s recovery from the pandemic. “After three years of the pandemic and a weak external economy, a high fiscal deficit has accumulated so that economic recovery still needs to be consolidated and investment in the future…
Category: Finance
World Bank member nations split over plans to expand balance sheet
Developing nations have warned against reshaping the World Bank in the aftermath of David Malpass’s departure as its head in a way that would imperil the institution’s ultra-high credit rating. The early exit of Trump-appointed Malpass, announced last week, is expected to hasten reforms — pushed by US Treasury secretary Janet Yellen — under his…
Nomura Asset Management Co. Ltd. Acquires 1,239 Shares of New Mountain Finance Co. (NASDAQ:NMFC)
Nomura Asset Management Co. Ltd. increased its holdings in New Mountain Finance Co. (NASDAQ:NMFC – Get Rating) by 114.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,317 shares of the company’s stock after purchasing an additional 1,239 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in New Mountain Finance were worth…
Millions of debt collections dropped off Americans’ credit reports
Tens of millions of debt collections disappeared from Americans’ credit reports during the pandemic, a new government watchdog report found, but overdue medical bills remain a big strain on many households nationwide. The total number of debt collections on credit reports dropped by 33% from 261 million in 2018 to 175 million in 2022, according…
eclgs: Finmin to meet heads of banks on Feb 22; to review the progress of ECLGS for MSMEs
The finance ministry has called a meeting of heads of public sector banks and top four private sector lenders to review the progress of the emergency credit line guarantee scheme (ECLGS) to help businesses affected by COVID-19. The meeting is scheduled to be held on February 22 to review progress on ECLGS and Loan Guarantee…
Not an era for war, says India as G20 finance meets begins | Russia-Ukraine war News
India says it is time for dialogue and diplomacy as G20 finance officials start a meeting near the southern city of Bengaluru. India has reiterated its stance on the war in Ukraine, saying it was time for dialogue and diplomacy, as finance officials from the Group of 20 (G20) started a meeting near the southern…
Markets raise bets on BoC rate hike this summer, cuts in 2024
Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa, Ontario, Canada April 13, 2022. REUTERS/Blair Gable Investors are increasing their batches that the Bank of Canada will hike its key lending rate at least once more this summer and delay any cuts to next year in the wake of stronger-than-expected…
G20 watchdog says commodity market concentration poses a threat to a wider economy
By Huw Jones LONDON (Reuters) – The pandemic and war in Ukraine highlighted weaknesses in commodity markets where a ‘significant’ concentration of firms, banks, exchanges and clearing houses threatens to transmit losses to the wider economy, the G20’s financial watchdog said on Monday. The Financial Stability Board’s (FSB) deep dive into commodity markets came after…