Sunday , October 22 2017

Banking

Kuwait could prompt inflows worth $700mn from investors

Kuwaiti money changer Mohammed Hussein exchanges Kuwait dinars to U.S. dollars in his downtown Kuwait City shop May 20,2007. Kuwait unshackled its dinar from the tumbling U.S. dollar on Sunday and switched the exchange rate mechanism to a basket of currencies, throwing plans for currency union with other Gulf Arab oil producers into disarray. REUTERS/Stephanie McGehee (KUWAIT) - RTR1PWMY

Bloomberg Kuwait’s graduation to emerging-markets classification by index compiler FTSE Russell could prompt inflows of as much as $700 million from investors, according to the money manager run by the nation’s largest lender. The Gulf country won inclusion in FTSE Russell’s list during the weekend, rewarding efforts by local regulators ...

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HSBC to pay $175mn to settle Fed probe of FX practices

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Bloomberg HSBC Holdings Plc has been fined $175 million by the Federal Reserve after a long-running probe found that foreign-exchange traders had been front-running client orders, sharing confidential customer details with dealers at other firms and attempting to rig currency benchmarks. The Fed order detailed multiple instances of improper behavior, ...

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Morgan Stanley says ‘party’s just begun’ for Indian stock funds

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Bloomberg The recent flood of cash into Indian stock funds is just the beginning, as the nation’s growing savings chase equity returns amid decreasing appetite for gold, property and fixed income, according to Morgan Stanley. “We’ve just started, the party has just begun,” said Ridham Desai, managing director at Morgan ...

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Cryptocurrencies drop as S Korea bans ICOs, margin trading

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Bloomberg Ethereum and bitcoin dropped after South Korea banned domestic initial coin offerings (ICOs) and margin trading in cryptocurrencies. The Financial Services Commission in Seoul said all forms of ICOs are prohibited in the country, including projects that share profits, rights, dividends, and other ‘coin-style’ offerings, according to a statement. ...

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