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East West Bancorp, Inc. is a bank holding company that offers a wide range of banking services through its subsidiary, East West Bank. It operates in segments including Consumer and Business Banking, which provides various financial products, and Commercial Banking, focusing on commercial loans and deposits. The company has over 120 locations across the United States and Asia.
As the new year approaches, investors should be aware of the London Stock Exchange's trading hours during the festive period and into 2025. The exchange will be closed on Christmas Day and Boxing Day, reopening briefly on New Year’s Eve and fully on January 2. In 2025, it will observe 10 days of closure, including bank holidays, with trading hours typically from 8am to 4:30pm on weekdays.
Foreign banks in Switzerland are enhancing their public image following Credit Suisse's collapse by collaborating with the communications agency Brand Affairs. The Association of Foreign Banks in Switzerland (AFBS) aims to position its member institutions as vital partners for businesses and private clients, emphasizing their role in the Swiss financial sector's diversity and stability. This strategic realignment focuses on corporate banking and leveraging international networks to adapt to the evolving landscape.
Foreign banks in Switzerland are ramping up their communication efforts following the collapse of Credit Suisse, partnering with Zurich-based Brand Affairs to enhance visibility. The Association of Foreign Banks in Switzerland (AFBS) aims to showcase its members as vital contributors to the Swiss financial landscape, emphasizing their role in corporate client partnerships and the importance of their international networks.
Raiffeisen banking group faces significant risks due to its Russian operations and loans to René Benko's SIGNA, with potential total losses threatening its stability. The European Central Bank is closely monitoring the situation, fearing a chain reaction that could impact regional banks. Sanctions from the US and the possibility of Russian nationalization further complicate the bank's future, as it struggles to transfer trapped profits from its Russian subsidiary.
UBS has adopted a positive outlook on the London Stock Exchange Group Plc, a prominent European stock exchange. The company's revenue sources are primarily from stock market information and analytical data (69.9%), trading services (19.2%), and post-trading services (10.9%). Geographically, revenue distribution includes the United Kingdom (30.9%), Europe (14.9%), the United States (36.6%), Asia (12.3%), and other regions (5.3%).
Asian stocks fluctuated as the dollar remained stable ahead of key central bank meetings, with expectations of a U.S. rate cut and the Bank of Japan maintaining its current stance. Bitcoin hovered near its record high, while the yen struggled amid low rate hike prospects. The Fed's upcoming dot plot will be closely watched for indications of future monetary policy adjustments.
The stock market faced a significant downturn, with the BSE Sensex dropping over 1,000 points and the Nifty 50 declining by 1.4%. Key factors included investor caution ahead of the US Federal Reserve's meeting, fears of foreign institutional investor selling due to China's budget deficit plans, and weak global market cues. Among the major losers were HDFC Bank, Reliance Industries, and TCS, while only ITC and Hindustan Unilever showed gains in the Sensex.
VPBank has announced a new cash withdrawal limit for its international credit cards, effective from January 1, 2025. The total maximum cash withdrawal limit is set at VND 100 million per month, with VND 10 million for ATM/POS/QR code transactions and VND 90 million for telephone/VPBank NEO transactions. Customers can withdraw amounts within the available limit of each card type.
China's capital markets experienced a record outflow of $45.7 billion in November, marking the largest monthly deficit in cross-border portfolio investments. Official data revealed that while cross-border receipts totaled $188.9 billion, payments reached $234.6 billion. Additionally, foreign institutions reduced their holdings in Chinese onshore bonds for the third consecutive month, influenced by the strengthening U.S. dollar.
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