Bloomberg Chinese banks maintained their lending rates for a third month, with the central bank’s cautious easing measures and a weaker yuan reducing the scope for further reductions in borrowing costs. The one-year loan prime rate was held steady at 3.7%, the People’s Bank of China (PBOC) said on Wednesday. A slight majority of 9 of the 16 economists ...

Bloomberg Goldman Sachs Group Inc is hiring senior investment bankers in Singapore, according to people with knowledge of the matter, as the US lender looks to bolster its dealmaking capabilities in Southeast Asia. The firm has hired Chua Hui Yin from JPMorgan Chase & Co. to cover corporate finance and execution, as well as Oversea-Chinese Banking Corp.’s Andrew Teo for ...

  Bloomberg Deutsche Bank AG is making headway in its effort to cut hundreds of millions of euros in costs by retiring the legacy IT systems linked to its Postbank unit. The lender “has successfully completed the first step” in a large-scale transformation of the IT systems in its retail business, it said in a statement on Wednesday. The project ...

  Bloomberg The Bank of Japan (BOJ) reiterated its ultra-loose monetary policy with four days of unscheduled bond buying as the widening interest rate gap with the U.S. puts upward pressure on bond yields and weakens the yen. The move comes as Japan’s benchmark 10-year yield stayed elevated at the 0.25% upper limit of the BOJ’s tolerated trading band despite ...

  Bloomberg Singapore’s central bank further tightened monetary settings and raised its inflation forecast, sending currency higher, as it seeks to fight cost pressures that threaten recovery from pandemic. The Monetary Authority of Singapore, which uses exchange rates as its main policy tool, said that it’s taking steps to strengthen the local dollar, which will help slow inflation momentum as ...

Bloomberg European stocks gained as a flurry of corporate earnings reassured investors that profits can overcome economic hurdles. The Stoxx Europe 600 climbed 0.4% in London. Banking and technology shares soared, tracking a rally in US stocks. Miners underperformed as metals fall. ASML Holding NV advanced after saying demand for its chip-making machines outstripped supply in the second quarter. Danone ...

Bloomberg Netflix Inc shares are on course to lose about $40 billion in value on Wednesday after the streaming giant reported its first customer decline in more than a decade. Shares in the company fell as much as 26% premarket trading, extending its plunge this year to 57%. If the losses hold, Netflix is poised to become the worst-performing stock ...

  Al Ain / WAM Zaki Anwar Nusseibeh, Cultural Advisor to His Highness the President of the UAE and Chancellor of the United Arab Emirates University, has said that Zayed Humanitarian Day is a highlight in the history of the UAE and serves as a marker of the humanitarian work of the nation, which extends beyond its borders to the ...

  Dubai / Gulf Time Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a memorandum of understanding (MoU) with Terminus group, a leading international artificial intelligence of things (AIoT) smart solution provider and an official premier partner of the Expo 2020 Dubai, to strengthen the company’s trade-related digital infrastructure projects in the UAE and its expansion into ...

  ABU DHABI / WAM The UAE on Tuesday sent a plane carrying 30 metric tonnes of food and relief supplies to Afghanistan to meet the immediate basic food needs of Afghan people, particularly women and children. The aid comes in response to the exacerbated living conditions in many countries already suffering from a deteriorating humanitarian situation. Issa Salem Al ...