ASXPAC

Lebanon to devalue currency by 90% on Feb. 1, central bank chief says

BEIRUT, Jan 31 (Reuters) – Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years. The shift from the old rate of 1,507 to 15,000 is …

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Disillusioned at home, super-rich Chinese set their sights on Singapore

SINGAPORE, Jan 31, (Reuters) – Like many wealthy Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family’s wealth. He’s hoping that studying at a university in the Asian financial hub will lead to permanent residency and while the 26-year-old hits the books, his wife is out looking for a S$5-7 …

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India plans measures to curb Chinese imports as trade gap concerns mount -sources

NEW DELHI, Jan 30 (Reuters) – India is considering a number of tariffs and non-tariff steps to cut imports of non-essential consumer and electronic goods, including from China, as trade imbalances concern policymakers, two government officials and an industry source said. As many as 18 key government ministries, led by the federal trade ministry, met …

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Saudi Arabia may lower crude prices to Asia for 4th straight month

SINGAPORE, Jan 30 (Reuters) – Saudi Arabia, the world’s largest oil exporter, may trim prices for crude grades sold to Asia for a fourth straight month in March, amid low physical oil premiums, as oversupply linger worries despite expectations of demand recovery in China. State oil company Saudi Aramco may lower the official selling price …

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Exclusive: Venezuela tightens oil prepayment rules

HOUSTON, Jan 30 (Reuters) – Venezuela’s state oil firm PDVSA is toughening terms for buyers after a month-long halt to most exports of crude and fuel, demanding prepayment ahead of loadings in either cash, goods or services, company documents showed. PDVSA’s new Chief Executive Pedro Tellechea put the move in place this month. It reinforces …

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Adani hits back at Hindenburg, says it made all disclosures

Adani issues 413-page rebuttal to Hindenburg report US short-seller’s report sparked falls in Adani shares Adani says comply with laws, necessary disclosures Adani CFO confident $2.5 bln share sale will succeed NEW DELHI, Jan 30 (Reuters) – India’s Adani Group issued a detailed riposte on Sunday to a Hindenburg Research report that sparked a $48 …

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