Head of China’s central bank is set to resign amid a reorganisation
Yi Gang, the head of China’s central bank, is expected to resign after being expelled from an elite committee of the country’s Communist Party, according to sources close to the institution. A previous central banker is seen as the front-runner to follow him. Yi, 64, has been the focus of significant speculation regarding his likely […]
Barclays state the Fed might need to halt balance sheet shortening in 2023
According to a Barclays analysis, the Federal Reserve may need to slow down or halt reducing its almost $9 trillion balance sheet earlier than many people currently anticipate. The current rate of the drawdown is likely to need to alter in the beginning half of next year, the investment company’s analysts noted this week. That’s because, […]
Rising oil prices due to supply issues
Early on Wednesday in Asian trading, oil prices increased, reversing losses from earlier in the session, as worries about restricted supply due to news of falling US stocks outweighed concerns about declining demand from one of the world’s leading oil importers China. By 900 GMT, Brent crude futures were up 73 cents, or 0.8%, at $90.76 per […]
Dollar unchanged at almost 32-peak against the yen, unyielding to possible interventions
On Wednesday, the dollar edged higher from a two-week low against a bundle of major rivals but remained near a 32-year high against the yen as traders evaluated the potential of faster Federal Reserve rate hikes against the improvement in risk sentiment. This week, as the market processed the British government’s change in fiscal policy […]
More U.S. businesses charge workers for job training if they leave
Simran Bal was astonished to learn that a beauty salon in Washington State had charged her $1,900 for lessons after she had left. Bal claimed that the training was of low quality and was solely relevant to the shop because she was already a licenced esthetician and had no need for them. Bal’s tale is […]
UK Finance Minister Hunt promises to restore faith in the banking system
While emphasising that his boss Liz Truss continue to be in command of the country, new finance minister Jeremy Hunt pledged to restore Britain’s economic confidence by fully reporting for the government’s spending and tax plans. In an effort to save her position as a leader as confidence in her diminished within her own Conservative […]
U.S. struggles to avert supply chain disruption caused by China’s export restrictions on chips
Anonymous but well-informed sources revealed the U.S. is rushing to address unforeseen implications of its new export restrictions on China’s chip sector that could unintentionally affect the semiconductor supply chain. The South Korean memory tech giant SK Hynix Inc (000660.KS) claimed it had permission from the United States to acquire items for its chip manufacturing […]
Tragic saga of Wall Street’s COVID-19 ideal comes to a conclusion
Consider a novel a person began writing two and a half years ago to help people get through the COVID lockdown; chances are, there is a linked narrative about a stock market fatality today. The economic slowdown that sent Wall Street inside a bear market in 2022 and investor concerns about rising inflation together paint a gloomy […]
People’s Bank’s 2021 Annual Report recognised at the CMA Excellence in Integrated Reporting Awards 2022
People’s Bank, Sri Lanka’s Premier Licensed Commercial Bank, was recognised by the Institute of Certified Management Accountants of Sri Lanka (CMA) for its 2021 Annual Report as one of the top ten ‘Best Integrated Annual Reports” in the country at the recently concluded CMA Excellence in Integrated Reporting Awards 2022. The integrated reports are evaluated […]
People’s Bank recognized as one of Sri Lanka’s most outstanding workplaces for women at WFWP Awards 2022
People’s Bank was recognized as one of Sri Lanka’s most outstanding workplaces for women at the Satynmag CIMA Women Friendly Workplace Awards 2022. (WFWP Awards) 2022. The award was received by People’s Bank Deputy General Manager (Retail Banking) Renuka Jayasinghe, Deputy General Manager (Enterprise Banking) Krishani Narangoda and Acting Deputy General Manager (Human Resources) K. […]