Indonesia's government intends to propose a "sunset policy" to encourage the declaration of unreported assets, similar to its previous tax amnesty programme but with much higher penalty rates, newspaper Bisnis Indonesia reported on Friday.
Spain's Banco Sabadell said on Friday it aimed to increase its return on tangible equity (ROTE), a measure of profitability, to more than 6% by 2023 from around 0% in 2020, buoyed by cost-savings in Spain and a boost from lending to companies.
Global money market funds saw huge inflows in the week ended May 26, Refinitiv data showed, amid caution that quickening inflation could alter the direction of U.S. monetary policy and shake up asset markets.
Eyes on U.S. inflation data t 1230 GMT MSCI EM stocks index up 0.3% Mainland CHina, Turkey stocks fall
May 28 (Reuters) - Emerging market currencies touched new highs on Friday but a rising dollar ahead of U.S. inflation data tempered gains, with Turkey’s lira hitting all-time lows.
The greenback moved further away from recent lows with all eyes on U.S. inflation data due at 1230 GMT, as a high reading could fuel expectations of policy tightening by the Federal Reserve.
Emerging market currencies had enjoyed a rally as easy monetary policy expectations sent investors seeking high yielders.
The lira fell 0.6% to 8.564 per dollar. Investors will be watching for an S&P ratings review due after the market close.