Grab’s Nasdaq debut to set tone for regional listings

Grab, Southeast Asia’s biggest ride-hailing and delivery firm, makes its market debut on Thursday after a record US$40 billion merger with a special purpose acquisition company (SPAC), in a listing that will set the tone for other regional offerings. The backdoor listing on Nasdaq marks the high point for the...
Picture for Grab’s Nasdaq debut to set tone for regional listings

Analysts' 2022 outlook for Chinese yuan

SHANGHAI, Dec 2 (Reuters) - Investment houses have begun publishing predictions for China's yuan next year after the currency looked set for a second straight annual gain in 2021 on growing trade surplus, strong export growth and ample dollar liquidity onshore. The yuan has strengthened about 2.5% against the dollar so far this year, becoming one of the best performing Asian currencies, while its trade-weighted value against major trading partners was hovering at six-year highs by gaining more than 8%. Here is a summary of some forecasts for the Chinese currency: INVESTMENT HOUSE end-March end-June end-Sept end-Dec Goldman Sachs 6.2 (12-month f'cast) Morgan Stanley 6.4 Barclays 6.5 Standard 6.3 6.35 6.4 6.5 Chartered ANZ 6.37 6.35 6.32 6.3 SEB 6.3 UBS Global 6.55 6.6 Wealth Management MUFG 6.4 6.45 6.5 6.55 KEY COMMENTS: ** Goldman Sachs "We still think some targeted tariff exclusions by the U.S. remain a possibility in coming months, although these would unlikely be very large in a macroeconomic sense and so would represent only a marginal tailwind to CNY ... We are also constructive on CNY, mainly on inflow potential to China as global investors remain under-invested in CNY assets." ** Standard Chartered "A new global COVID resurgence may delay China's border reopening, underpin its balance-of-payments (BoP) strength, and reduce the growth divergence between China and major Western economies in H1-2022. Possibly sustained accommodative liquidity conditions in developed markets could prompt stronger capital inflows to China on higher rates and more muted inflation." ** ANZ "With limited avenues for outflows and the absence of outbound Chinese tourists, CNY has been supported by strong trade surpluses and portfolio inflows, particularly into the bond market. The authorities appear broadly comfortable in allowing the currency to appreciate, which has helped to play an important stabilizing role in the region. We expect this trend to continue in 2022." ** SEB "At this point, we see no compelling reason for the authorities to aggressively dampen the yuan. Although the trade-weighted RMB Index has risen around 8.3% year-to-date, it has not hampered export performance. This is in stark contrast to the contraction in exports throughout 2015." ** Oxford Economics "China's current account surplus should remain solid, given the resilience of China's role in global supply chains and downward pressure on imports from the property downturn. Also, the likely continued net FDI inflows should support the CNY. But relatively muted growth and a lower interest rate differential with the U.S. may exert some depreciation pressure." (Reporting by Winni Zhou and Tom Westbrook; Editing by Subhranshu Sahu)

California Is Getting New Fueling Stations for Hydrogen Cars, But Who Will Use Them?

In California, virtually the only state with hydrogen cars on the road, about 47 active fueling stations serve a trickle of early hydrogen adopters who mostly cruise around Los Angeles and the Bay Area today. These hydrogen-powered passenger vehicles aren’t anywhere near as popular as electric cars, but that isn’t stopping California from spending millions of dollars to support them.

MUFG Names Fattell Head of Transaction Banking in the Americas

Mitsubishi UFJ Financial Group named Raymond Fattell head of transaction banking in the Americas. Fattell will lead MUFG’s transaction banking business in the United States, Latin America and Canada and be responsible for product management, sales, client delivery, risk and the support of functions including strategy, client training and marketing.

Mars Growth, A Liquidity Group Fund, Provides Disprz With $5 Million In Funding

Mars Growth, a Liquidity Group and MUFG joint venture fund, provided $5 million in growth credit for Disprz, an India-based (Global) enterprises SaaS company that offers an AI and cognitive science-based learning and skilling suite that embeds into businesses, aligns with team goals and ensures breakthrough performance for all types of workforces and industries.

TREASURIES-Yields fall to three-week lows on Omicron fears

U.S. Treasury yields tumbled to multi-week lows on Tuesday after the head of drugmaker Moderna raised concerns about the efficacy of vaccines against the Omicron coronavirus variant, sparking demand for safe haven assets. Market rallies after Moderna CEO's vaccine warning. 10-year yield set to log monthly decline. Adds Chicago dateline...

Blockchain In Trade Finance and Credit Insurance Market May see a Big Move | Major Giants MUFG, VECHAIN, AlphaPoint, Cesce

The Global Blockchain In Trade Finance and Credit Insurance Market study with 114+ market data Tables, Pie Chart & Figures is now released by HTF MI. The research assessment of the Market is designed to analyze futuristic trend, growth factors, industry opinions, industry validated market facts to forecast till 2025, some of the players studied are.
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Raymond Fattell

MUFG Names Raymond Fattell Head of Transaction Banking Americas. WFMZ-TV 69 News provides news, weather, traffic, sports and family programming for the Lehigh Valley, Berks County, Southeastern Pa., Poconos and Western NJ including Allentown, Bethlehem, Easton, Reading, Kutztown, Emmaus, Quakertown, Stroudsburg, Philadelphia, Jim Thorpe, Doylestown, Phillipsburg, Flemington, Wilmington, and Newark.