Tag: Asia
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Rise of US dollar forwards builds risk for Asia’s central banks
Central banks across Asia are increasingly using derivatives to protect their currencies against a strong US dollar, raising questions over how long they can do so and whether they are just storing up trouble for the future. The Reserve Bank of India’s net US dollar short forward position – the amount of dollars that will be…
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Trump’s oil tariffs a boost for European and Asian refiners
U.S. President Donald Trump’s trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their U.S. rivals, analysts and market participants told Reuters. Trump on Saturday ordered 25% tariffs on Canadian and Mexican imports and 10% on goods from China starting on Tuesday to address a national emergency over fentanyl…
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Why Was Indonesia’s BRICS Membership Short-Circuited?
The fact that Thailand, Vietnam and Malaysia were also designated “partner countries” at the Kazan Summit last October suggests Russia’s ‘Near Abroad’ may be expanding to Southeast Asia. During Russia’s 2024 chairmanship of BRICS – a semi-formal intergovernmental bloc comprising key emerging markets and widely considered the Global South’s answer to the Group of Seven (G7) advanced…