Bloomberg Euro-area banks are returning another €447.5 billion ($472 billion) in cheap loans to the European Central Bank after officials toughened the terms of the program to help fight double-digit inflation. The repayment will shrink the outstanding amount of so-called TLTRO loans, which were used during the pandemic to keep credit flowing to households and businesses, by about 25%. The ...

  Bloomberg Xiamen International Bank Co, set up almost four decades ago with both local and foreign investors, is considering a Hong Kong initial public offering that could raise about HK$10 billion ($1.3 billion), according to people familiar with the matter. The Chinese lender is working with advisers for preparation of the share sale, which could take place as soon ...

Bloomberg The UK government will bring forward a consultation on the case for a central bank digital currency “in the coming weeks,” Chancellor of the Exchequer Jeremy Hunt said. The Bank of England will also release a paper setting out technology considerations informing the potential build of a digital pound, Hunt said in a written statement to Parliament. Hunt announced ...

  Bloomberg Indonesia is one step closer to requiring the central bank to come to the government’s aid through crisis bond-buying, while dropping earlier proposals to expand the monetary authority’s role. A parliament commission has approved a draft of the financial sector omnibus law that retained a provision calling on Bank Indonesia (BI) to undertake debt monetisation in times of ...

  Bloomberg Three prime ministers, four finance ministers and one ill-fated budget dragged the pound within an inch of parity versus the US dollar in 2022. It was a wild ride for the currency, which suffered as political chaos engulfed the UK throughout the year. But everything went into overdrive in September, when the government’s gamble on a huge tax ...

  Bloomberg Some of the world’s biggest investors predict that stocks will see low double-digit gains next year, which would bring relief after global equities suffered their worst loss since 2008. Amid recent optimism that inflation has peaked — and that the Federal Reserve could soon start to change its tone— 71% of respondents in a Bloomberg News survey expect ...

  Bloomberg While investors are impatient for the Federal Reserve to deliver its last rate hike to pile back into equities, history shows they should be wary of doing so while inflation remains persistently high, according to Bank of America Corp. (BofA) strategists. An analysis by Michael Hartnett and his team showed that stocks outperformed after the Fed stopped increasing ...

  Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (Adnoc) announced on Thursday the successful completion of the Masdar transaction, following which they will all become shareholders in Abu Dhabi Future Energy Company (Masdar) — Abu Dhabi’s flagship clean energy company. This transaction — first announced in December ...

  Dubai / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved the government of Dubai’s general budget for the fiscal cycle of 2023-2025, with total expenditures of AED205 billion. The budget meets Dubai’s aspirations and confirms its determination to continue developing and ...

  Abu Dhabi / WAM An additional 87 senior reactor operators (SROs) and reactor operators (ROs), 30 of whom are UAE nationals including five females, have been certified to operate the Barakah Nuclear Energy Plant as part of the operations crews of Nawah Energy Company (Nawah), the operations and maintenance subsidiary of the Emirates Nuclear Energy Corporation (Enec) mandated to ...