Bloomberg The Bank of Japan (BOJ) will explore the design issues of a central bank digital currency (CBDC) in measured steps like Sweden rather than pressing ahead with large-scale pilot tests like China, according to the BOJ’s point-man on digital yen research. “Sweden’s staged and planned expansion of experiments is a better fit for us than China’s big-scale tests ...

  Bloomberg Nigerian banks have been hit by an exodus of tech talent, chief executives of the nation’s lenders say. “So many of our very experienced talents especially in the area of software engineering are either leaving the industry or leaving the country,” Abubakar Suleiman, chief executive officer of Sterling Bank Plc, told reporters at the end of a meeting ...

Bloomberg The European Central Bank (ECB) renewed its pledge to end bond-buying in the coming months, as record inflation raises the odds it will also lift interest rates for the first time in more than a decade before the year is out. The Governing Council reiterated that it will halt net asset purchases in the third quarter — an accelerated ...

  Bloomberg Bank of America Corp (BofA) joined Wall Street rivals in capitalising on market volatility while also benefiting from an increase in lending. The company’s trading operation posted $4.72 billion in revenue, down just 7.1% from a year earlier after analysts expected a 16% decline. The best results were in the equities business, which posted a 9.5% gain, the ...

Bloomberg China’s technology stocks slumped as trading resumed in Hong Kong after the long weekend, with continued concern over government regulation and a potential delisting of US-traded shares dampening sentiment. The Hang Seng Tech Index declined 3.8% from its closing level on April 14, with video-game streaming site Bilibili Inc plunging almost 11%. China is starting a two-month “clean-up” inspection ...

Bloomberg Stocks in Europe declined and bond yields climbed as markets reopened after a holiday amid hawkish comments by Federal Reserve officials and Russia’s renewed campaign in eastern Ukraine. Healthcare stocks led the decline in the Stoxx Europe 600 index. Dutch automaker Stellantis NV slumped after halting output at factory near Moscow that makes vans, following a long list of ...

  Dubai / WAM The UAE is again launching widespread charity initiatives during the holy month of Ramadan, embodying the culture of giving, enshrined across all national sectors. Emirati initiatives have helped ensure food security for vulnerable people around the world and provided for their needs, including clothing, medicines and other means of support. This year, the 1 Billion Meals ...

  Abu Dhabi / WAM The Abu Dhabi Business Centre (ADBC), a part of Department of Economic Development (Added), announced that 80 new economic activities were added during 2021, brining the total of economic activities to 4062 by end of last year. New added activities cover many vital business sectors, including 40 new commercial activities, 25 professional, six industrial, five ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received a phone call from King Abdullah II ibn Al Hussein of Jordan. During the call, the sides discussed strategic relations between their countries and ways of developing and enhancing them in ...

  DUBAI / WAM Dubai Chambers has rebranded and unveiled its new corporate identity reflecting the organisation’s restructuring, which was earlier announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Under the new structure, three chambers of commerce operate under Dubai Chambers, namely Dubai Chamber of Commerce, ...