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  • The upcoming launch of the second phase of China's cross-border interbank payment system (CIPS) is understood to be delaying the launch of clearing activities in the recently established New York RMB hub, GlobalRMB has learned.
  • HSBC's Asia profit before tax from global banking and markets slipped 33% to $654m in the fourth quarter of last year from $972m in Q4 2015, mirroring a fall in income.
  • China is understood to have tweaked its renminbi fixing mechanism by reducing the reference window of the baskets of currencies it tracks.
  • Two and a half years after the launch of the first pilot free trade zone in Shanghai, the authorities appear ready to inaugurate a third batch of FTZs. But recent moves to restrict capital outflows have ended up hurting foreign enterprises, dealing a blow to China’s efforts to open its capital account.
  • India has released a series of targets to make sure its state-owned firms are listed within a specific time frame, giving them up to 5.5 months to market and launch their IPOs.
  • The Reserve Bank of India has further opened up investment into Masala bonds by allowing new types of investors to access offshore rupee notes.