Articles by Tony Munroe

China’s Tough COVID Policy Still Drags on Economy

China has been tweaking its stringent COVID curbs but shows no sign of backing off from its “dynamic zero” policy, and has lagged in vaccination efforts that would enable it to do so, casting a heavy shadow over the world’s …

China Continues Crackdown on Fintech Firms

BEIJING — Chinese financial watchdogs on Thursday summoned 13 internet platforms engaged in finance business, including heavyweights Tencent and ByteDance, to order them to strengthen compliance with regulations, the central bank said. The move by the four regulators is part …

China Forces Restructuring of Ant Group into Financial Holding Firm

BEIJING – China has imposed a sweeping restructuring on Jack Ma’s Ant Group, the fintech conglomerate whose record $37 billion IPO was derailed by regulators in November, underscoring Beijing’s determination to rein in its internet giants. The overhaul, in the …

S&P Lowers India’s Rating Outlook to Negative; Investment Rating in Peril

Standard & Poor’s cut India’s credit rating outlook on Wednesday to negative from stable, reflecting the toll that hefty fiscal and current account deficits and political paralysis are exacting on Asia’s third-largest economy. The negative outlook jeopardizes India’s long-term rating …

Japan Insurers, QBE Seen Eyeing AIG Assets; China Less Likely

Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s ambitious insurers are expected to be more cautious given market turmoil at …

Ping An Buys Half of Fortis Asset Arm

China’s Ping An Insurance Co Ltd. deepened its ties with Belgian-Dutch financial group Fortis on Wednesday by buying half its asset management business for €2.15 billion ($3.4 billion). Ping An, China’s second largest life insurer, also lifted its stake in …