Bloomberg India’s government is considering selling at least 51% of state-backed IDBI Bank Ltd., according to people with knowledge of the matter. Officials in the government and the state-backed Life Insurance Corp of India (LIC), which together own about 94% of IDBI Bank’s shares, are in talks about how much of their stakes they plan to sell, the people said. ...

  Bloomberg Bank of America Corp (BofA) said it hired 2,600 military veterans this year on top of a five-year goal to add 10,000. The additions mean a 24% increase in representation of veterans at the bank, according to a memo to staff seen by Bloomberg News. The number of veterans at the company is now more than 15% of ...

  Bloomberg Credit Suisse Group is shifting resources to win business from high-net-worth clients as the lender focuses more heavily on wealth management amid cuts to its troubled investment bank. The Swiss bank is reassigning advisers to its dedicated Private Banking International unit, led by Raffael Gasser, according to an internal memo seen by Bloomberg. The aim is to expand ...

  Bloomberg US futures rise on Thursday as China’s massive stimulus steadied some nerves in the anxious wait for a key speech by Federal Reserve Chair Jerome Powell. Treasury yields and a dollar gauge dipped. Contracts on the S&P 500 and Nasdaq 100 pushed higher in the wake of positive closes for both gauges, though they came off session highs. ...

Bloomberg The amount of bearish bets against Hong Kong stocks has risen to levels that could trigger a surge in share prices as traders rush to close out their positions, according to quantitative analysts at Morgan Stanley. Hedge funds and other short sellers say they’re either covering bearish wagers or planning to do so, strategist Gilbert Wong wrote in emailed ...

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB) has announced the launch of a multiple-thematic fund, the “FAB Thematic Rotation Fund” under the OneShare PLC umbrella fund, which is regulated by the central bank of Ireland. Through this fund, investors will have access to global investment opportunities across themes and trends arising from long-term structural changes, called Megatrends, ...

  Abu Dhabi / WAM The assets of national companies listed in local financial markets rose by 10 percent in the first half of 2022, equivalent to AED425.7 billion, an indicator of their robust financial performance and ability to expand their operational activities, develop new products and conduct acquisitions. According to the disclosures of 118 listed companies that announced their ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Volodymyr Zelenskyy of Ukraine on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also sent similar messages to the Ukrainian ...

  Abu Dhabi / WAM Aldar Properties has announced the launch of Yas Park Gate, its latest gated community which will be located on the doorstep of Yas Park, a first of its kind family and recreational activity park in Abu Dhabi. As a natural progression in the development of the second phase of North Yas, the AED1.15 billion residential ...

  Abu Dhabi / WAM Adnoc Drilling Company (Adnoc Drilling) on Wednesday announced it has signed a sale and purchase agreement (SPA) to acquire an additional premium offshore jack-up drilling unit (rig) for $70 million. The cost of the acquisition is part of the company’s three-year guidance on capital expenditure and strategic plans to expand its existing business. The sale ...