RBS share drop accelerates on stress test flop

Stressed. Shares in Royal Bank of Scotland have accelerated their losses this morning, falling over 4.5 per cent after the state-backed lender came in bottom of the heap in the Bank of England’s latest stress tests. RBS failed the toughest ever stress tests carried out by the BoE, with results this morning showing the lender’s […]

Continue Reading

Capital Markets, Financial

BGC Partners eyes new platform to trade US Treasuries

BGC Partners plans to launch a new platform to trade US Treasuries early next year, in a bid to return to a market in the middle of evolution, according to people familiar with the plans.  The company, spun out of Howard Lutnick’s Cantor Fitzgerald in 2004, sold eSpeed, the second-largest interdealer platform for trading Treasuries, […]

Continue Reading


Sales in Rocket Internet’s portfolio companies rise 30%

Revenues at Rocket Internet rose strongly at its portfolio companies in the first nine months of the year as the German tech group said it was making strides on the “path towards profitability”. Sales at its main companies increased 30.6 per cent to €1.58bn while losses narrowed. Rocket said the adjusted margin for earnings before […]

Continue Reading


Renminbi strengthens further despite gains by dollar

The renminbi on track for a fourth day of firming against the dollar on Wednesday after China’s central bank once again pushed the currency’s trading band (marginally) stronger. The onshore exchange rate (CNY) for the reniminbi was 0.28 per cent stronger at Rmb6.8855 in afternoon trade, bringing it 0.53 per cent firmer since it last […]

Continue Reading


Nomura rounds up markets’ biggest misses in 2016

Forecasting markets a year in advance is never easy, but with “year-ahead investment themes” season well underway, Nomura has provided a handy reminder of quite how difficult it is, with an overview of markets’ biggest hits and misses (OK, mostly misses) from the start of 2016. The biggest miss among analysts, according to Nomura’s Sam […]

Continue Reading

Categorized | Currencies

Malaysia’s central bank maintains rates in November

Posted on November 23, 2016

Malaysia’s central bank has kept its benchmark lending rate unchanged as expected on Wednesday as the ringgit slid further against the dollar.

Bank Negara Malaysia left the benchmark overnight policy rate at three per cent, as predicted by all 19 economists surveyed by Bloomberg ahead of the decision.

Lending further weight to those forecasts in the lead-up was Malaysia’s ringgit, 0.4 per cent softer against the dollar in early afternoon trade, the weakest level since September 2015. It was marginally weaker following today’s decision at 4.4420.

The ringgit’s ongoing slide – just one of many emerging markets currencies hammered this month by a strengthening greenback – had prompted Bank Negara Malaysia to play down fears it might have to introduce capital controls, dimming the prospects of the central bank cutting interest rates this month.

On 18 November the bank’s assistant governor Adnan Zaylani revealed that it was intervening in the foreign exchange market to combat heightened volatility in the wake of the US presidential election, telling reporters at the time that fears about capital controls were “baseless”.