CIMB Singapore CEO Victor Lee resigns; CFO to take charge in interim

CIMB Singapore CEO Victor Lee resigns; CFO to take charge in interim

[SINGAPORE] Victor Lee has resigned from his roles as chief executive officer of CIMB Singapore and chief executive of growth markets, parent company CIMB Group announced on Tuesday (Sep 9). He is leaving to pursue other opportunities and has been placed on gardening leave with immediate effect, the Malaysian bank said in a statement. Lee’s…

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Bank Indonesia, government allay concerns that ‘burden sharing’ deal will reduce independence

Bank Indonesia, government allay concerns that ‘burden sharing’ deal will reduce independence

[JAKARTA] Indonesia’s government and central bank sought to allay concerns on Monday (Sep 8) about their unusual collaboration to fund government programmes, as analysts questioned whether it would compromise Bank Indonesia’s independence. The central bank will pay a higher interest rate on government deposits it holds to help fund President Prabowo Subianto’s housing and cooperative…

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Russia export slide forcing a rethink at some Chinese carmakers

Russia export slide forcing a rethink at some Chinese carmakers

[HONG KONG] Russia turned into a lucrative market for Chinese automakers after the invasion of Ukraine, as they rushed in to fill the void left by foreign brands. That easy access may be over. In late 2024, Moscow started raising a “recycling fee” on imported vehicles that’s seen the price of passenger cars with one-…

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China’s rate-cut outlook in doubt as stock rally stirs concern

China’s rate-cut outlook in doubt as stock rally stirs concern

[BEIJING] Angst inside China’s halls of power over a massive stock rally risks delaying another major round of monetary stimulus, pushing the central bank further to the sidelines as Beijing tries to keep economic growth on track. Concerns that easy money is behind a surprise bull run in equities have prodded regulators into considering moves…

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