Finance ministers and central bank governors of BRICS nations called for a sweeping reform of global developmental financial institutions, including the International Monetary Fund and the World Bank, during meetings held ahead of the upcoming BRICS Leaders’ Summit in New Delhi, according to a joint statement reported by Reuters. The finance chiefs cited the growing … Read more
China’s Ministry of Finance is advancing a 360 billion yuan package to bolster state-owned banks and insurers as economic growth slows, according to corporate statements and reports from state news agency Xinhua. The intervention combines a 290 billion yuan capital injection for major commercial banks with a separate 70 billion yuan rescue plan for five … Read more
U.S. Treasury Secretary Scott Bessent urged Bank of Japan Governor Kazuo Ueda to conduct sound monetary policy to anchor inflation expectations and avoid excessive yen volatility during a G20 meeting in Asheville, North Carolina, according to the U.S. Treasury Department. The high-level discussions, held on September 1, 2026, cement the case for an impending Japanese … Read more
U.S. Treasury Secretary Scott Bessent stated that Japan’s government and central bank will take measures to strengthen the yen, signaling a strong probability of a Bank of Japan interest rate hike in September. According to CNBC and Reuters reports from Asheville, North Carolina, Bessent indicated during a Group of 20 finance leaders gathering that markets … Read more
Federal Bank plans to raise $500 million through a five-year dollar bond sale, according to bankers who requested anonymity because they lack authorization to speak with the media. The capital-raising effort follows a board approval on Friday for foreign-currency-denominated bonds issued through the International Financial Services Centre Banking Unit located in GIFT City. Federal Bank … Read more
Wall Street indexes rose on Wednesday, driven by the Nasdaq outperforming its peers as upbeat earnings from artificial intelligence infrastructure firms boosted technology stocks, while largely in-line inflation data reinforced market bets that the U.S. Federal Reserve will hold interest rates steady, according to Reuters reporting. AI Infrastructure Earnings Drive Nasdaq Gains The Nasdaq Composite … Read more
Wall Street closed lower as climbing crude oil prices driven by Middle East tensions and a massive share sale by Intel weighed on investor sentiment, according to Reuters. The S&P 500 declined 0.06% to finish at 7,753.12 points, while the tech-heavy Nasdaq Composite dropped 0.32% to 26,605.36 points, and the Dow Jones Industrial Average slipped … Read more