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Citigroup has received approval from Beijing to establish a wholly-owned securities firm in China, one of the world's largest capital markets.
Citigroup has received approval from the China Securities Regulatory Commission (CSRC) to establish a wholly foreign-owned securities firm in mainland China. This move will allow Citigroup to pursue more business opportunities in one of the world's largest capital markets. The approval was issued on Friday, ahead of the anticipated meeting between Chinese President Xi Jinping and U.S. President Donald Trump during the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen next month.
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24H Trending
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Asian markets broadly fell: The Hang Seng Index dropped 3.03% to a four-month low, and the Hang Seng Tech Index fell 5%; Brent crude rose 3.2% to $112.27, due to AI concerns and heightened tensions in the Strait of Hormuz.
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Middle East Tensions Escalate: Houthis Claim Multiple Attacks on Saudi Arabia, Brent Oil Surpasses $112, Iran Claims to Have Struck Oil Tanker in Strait of Hormuz
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AI Companies and French Sovereign Debt Face Stress Test: CoreWeave CDS Spreads Exceed 1,000 Basis Points, France's 10-Year Government Bond Yield Breaks 5% for the First Time Since 2002, Moody's to Review France's Rating
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Crypto traders value Indian telecom company Reliance Jio's IPO at approximately $110 billion.
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Tesla and NVIDIA Invest KRW 3.7 Trillion in Samsung Electro-Mechanics, Securing AI Chip Substrate Production Capacity
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The 10-year U.S. Treasury yield fell by approximately 11 basis points from its previous close, now at 5.04%.
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The 30-year U.S. Treasury yield is down approximately 9 basis points from its previous close, currently at 5.35%.
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Arbitrage trades in European government bonds have triggered successive liquidations, leading to nearly a hundred London traders exiting the market, with the French 10-year government bond yield surpassing 5%.
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Houthis claim Saudi Arabia targeted an Indian boat in Red Sea, rescued 14 Indian nationals
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An Israeli court ordered the release of nine settlers suspected of attacking journalists and diplomats in the West Bank, as UN Secretary-General Guterres described the situation there as "out of control."
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