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HSBC will close a quarter of its UK branches

HSBC will close a quarter of its branches in the UK due to customers switching to online banking services and pressure from shareholders to cut costs.

HSBC will close a quarter of its branches in the UK due to customers switching to online banking services and pressure from shareholders to cut costs.

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Indonesia launches Digital Rupiah

The Central Bank of Indonesia (BI) has announced a deployment plan of digital rupiah amid the country's digital transaction boom.

The Central Bank of Indonesia (BI) has announced a deployment plan of digital rupiah amid the country\'s digital transaction boom.

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China's state-owned Banks pour $179B in Credit for Real Estate

China's largest state-owned banks, led by the Industrial and Commercial Bank of China (ICBC), have pledged at least 1.28 trillion yuan ($179 billion) in financial support to real estate developers.  It is seen as part of a broader effort to stabilize the turmoil in the real estate market of the world's second-largest economy.

China\'s largest state-owned banks, led by the Industrial and Commercial Bank of China (ICBC), have pledged at least 1.28 trillion yuan ($179 billion) in financial support to real estate developers.  It is seen as part of a broader effort to stabilize the turmoil in the real estate market of the world\'s second-largest economy.

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Global Bond Investment demand is forecasted to reach $1 trillion by 2023

According to JPMorgan Chase & Co, global bond supply is expected to decline by $1.6 trillion in 2023, while demand is estimated to fall by only $700 billion. The $700 billion drop in demand is much lower than last year's $5.9 trillion.

According to JPMorgan Chase & Co, global bond supply is expected to decline by $1.6 trillion in 2023, while demand is estimated to fall by only $700 billion. The $700 billion drop in demand is much lower than last year\'s $5.9 trillion.

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Japan to test Digital Yen from 2023

The BOJ is among a number of leading Central Banks that are exploring cryptocurrencies as an adjunct or as an alternative to cash.

The BOJ is among a number of leading Central Banks that are exploring cryptocurrencies as an adjunct or as an alternative to cash.

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Credit Suisse drastically reduces staffs in China

Credit Suisse will lay off at least a third of its investment banking division and about 40% of its research staffs in China.

Credit Suisse will lay off at least a third of its investment banking division and about 40% of its research staffs in China.

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The South Korean Won becomes Asia's Strongest Rising Currency

The South Korean won is forecasted to strengthen further after recovering from a 13-year low and becoming Asia's strongest performer.  The impetus for the strong recovery of the domestic currency of South Korea, a major exporting country, comes from an improved global trade outlook.

The South Korean won is forecasted to strengthen further after recovering from a 13-year low and becoming Asia\'s strongest performer.  The impetus for the strong recovery of the domestic currency of South Korea, a major exporting country, comes from an improved global trade outlook.

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France's Biggest Retail Bank sponsors nuclear power plants

French electricity group EDF and the France's largest retail bank Crédit Agricole have signed a loan agreement worth 1 billion euros ($1.04 billion) to finance the maintenance of nuclear power plants in France.  

French electricity group EDF and the France\'s largest retail bank Crédit Agricole have signed a loan agreement worth 1 billion euros ($1.04 billion) to finance the maintenance of nuclear power plants in France.  

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Europe warns of rising risks in the Financial system

The European Central Bank (ECB) warned that a toxic combination of recession, soaring inflation, expensive borrowing costs and lower liquidity is threatening to cause turmoil in financial markets in the Eurozone that consists of 19 member countries.

The European Central Bank (ECB) warned that a toxic combination of recession, soaring inflation, expensive borrowing costs and lower liquidity is threatening to cause turmoil in financial markets in the Eurozone that consists of 19 member countries.

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Massive Sell-off of Wealth Management products poses risks to Chinese Banks

China's short-term government bonds are experiencing their steepest decline since mid-2020. The drop, fueled by a shift to riskier assets include stocks, causes retail investors to rush to withdraw from fixed-income products or wealth management products (WMPs) issued by banks.  This further exacerbated the downward spiral and caused more people to withdraw from WMP.  The sell-off also spread to the top-rated corporate bonds which makes their yields hit a record this week.

China\'s short-term government bonds are experiencing their steepest decline since mid-2020. The drop, fueled by a shift to riskier assets include stocks, causes retail investors to rush to withdraw from fixed-income products or wealth management products (WMPs) issued by banks.  This further exacerbated the downward spiral and caused more people to withdraw from WMP.  The sell-off also spread to the top-rated corporate bonds which makes their yields hit a record this week.

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