U.S. jobless claims drop from five-month high
WASHINGTON The number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labor strength that underscores the economy's sustained momentum.
MUMBAI The Reserve Bank of India (RBI) wants non-bank lenders to set aside more capital for lending in stock and real estate sectors and to improve the quality of liquid assets they hold to reduce systemic risk from the sector.
The non-bank lending segment has not been as strictly regulated as banks.
The RBI proposed in its draft guidelines to raise the Tier I capital requirement for non-bank lending institutions with significant exposure in stocks, real estate, and commodities to 12 percent from the minimum of 7.5 percent now.
"The objectives of the working group were to address issues relating to regulatory arbitrage and systemic risk, so as to create a strong and resilient non-banking financial sector," the RBI panel which suggested the new rules said in a release on Wednesday.
The central bank also asked the non-bank lenders to invest in actively traded debt securities of not lower than AA rating for better liquidity management.
The RBI has sought feedback on these draft rules at the latest by January 10.
(Reporting by Suvashree Dey Choudhury)
BEIJING China's imports grew at the fastest pace in more than two years in November, fueled by its strong thirst for commodities from coal to iron ore, while exports also rose unexpectedly, reflecting a pick-up in both domestic and global demand.
TOKYO Corporate Japan is bracing for a rocky ride under incoming U.S. President Donald Trump, a Reuters poll showed, with well over a third of firms seeing a contraction in global trade as concerns about a rise in U.S. protectionism threaten to shatter a fragile economic recovery.