Bali Deports 47 in Crackdown on Tourists Misusing Visa Rules
Indonesia has deported 47 people as tourist destination Bali cracks down on foreigners misusing their visas to work.
Indonesia has deported 47 people as tourist destination Bali cracks down on foreigners misusing their visas to work.
Amid the banking turmoil that’s sent global capital markets into a tailspin and raised the prospect of a full-blown recession in the US economy, true believers in the bull case for emerging markets are digging in.
Oil prices sank, with West Texas Intermediate plunging below $65 a barrel, as escalating investor concerns about a global banking crisis eroded appetite for risk assets including commodities.
Markets have been trading as if the end of the world is at hand – but what most participants see, behind the recent financial turmoil and contagion fears, is a still-strong US economy, the MLIV Pulse survey shows.
Among the biggest losers in the shotgun sale of Credit Suisse Group AG are investors in the firm’s riskiest bonds, known as AT1s, worth $17 billion.
Goldman Sachs Group Inc. strategists upgraded European bank debt back to overweight, reversing an earlier decision even as a rout in lenders’ riskiest bonds continued in the wake of Credit Suisse Group AG’s bailout.
The case for the Federal Reserve to forgo an interest-rate hike strengthened in the eyes of some central bank watchers following a coordinated global move to ease growing financial strains.
Even before Credit Suisse Group AG’s government-brokered takeover, the Swiss lender was in the process of cutting 9,000 jobs in an effort to save itself.
Indonesia said Perry Warjiyo, who steered the Southeast Asian economy’s monetary policy through the pandemic years, will continue as central bank governor for a second term.
Here’s the full text of a memo to UBS Group AG staff from Chief Executive Officer Ralph Hamers, following the news that the bank would acquire Credit Suisse: