Rebecca Ning, along with 43 million other Chinese, has found a way to make about 6 percent annually, or 17 times her usual interest rate, by tapping her phone and using technology that’s disrupting China’s banking status quo.
Indonesia’s biggest pension fund plans to boost equity and bond holdings in 2014 as it expects domestic consumption and a possible reduction in interest rates to raise company earnings in a presidential-election year.
Chinese banks’ funding constraints are set to ease after policy makers authorized the sale of certificate of deposits in a move toward loosening control over interest rates in the world’s second-largest economy.
Turkey’s first global fund dedicated to Islamic investors will beat returns from Shariah-compliant bank deposits and will lure inflows of $1 billion during the next three years, its chief executive officer said.
The Brazilian overnight loan market between banks is shrinking as the biggest lenders have pulled back, affecting the rate tied to $865 billion of securities and mutual funds, said two people with direct knowledge of the matter.