Bloomberg The US and Philippines will hold their biggest military drills in three decades as tensions grow with China, injecting new life into a defense alliance that had languished in recent years. Some 5,100 American soldiers and 3,800 Philippine military members will train in the Southeast Asian nation from March 28 to April 8, the US Embassy in Manila ...

  Bloomberg European bank regulators are set to start work later this year on adding climate-change risks to the framework for setting capital requirements, in a shift that would penalise lenders for failing to prepare for losses from extreme weather and the shift to clean energy. Several members of the European Central Bank’s (ECB) supervisory board say they expect to ...

  Bloomberg Citigroup Inc. is putting its waterfront Dublin office on the market, as the lender looks for a new location in the city. The six-storey building at 1 North Wall Quay in Dublin’s docklands is expected to fetch more than 120 million euros ($132 million), Knight Frank said in an emailed statement. The bank has occupied the 230,000 square ...

Bloomberg Thailand will bar the use of cryptocurrencies as a means of payments for goods and services, saying the wider use of digital assets threatens the nation’s financial system and economy. Business operators — including crypto exchanges — must not provide such payment services, and are barred from acting in a manner that promotes the use of digital assets to ...

  Bloomberg BNP Paribas is stopping all new business in Russia, joining European peers in winding down their local operations after the country invaded Ukraine. The Paris-based bank has informed its corporate clients that its local unit will no longer be able to process their transactions from the end of March, the bank said in an emailed statement. BNP Paribas ...

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda doubled down on his commitment to continue with stimulus even if inflation continues to accelerate, in a rebuttal of the need to join a global wave of central banks normalising policy. “We don’t know what April’s inflation rate may be, but there’s a possibility it’ll be around 2%,” Kuroda said, acknowledging ...

Bloomberg Deutsche Bank AG agreed to boost wages for 8,000 staff by 5.2% in two steps in a nod to accelerating inflation in Germany. The deal with unions representing employees at its Postbank retail unit was signed, the lender said in a statement. The bank will first raise wages for the covered staff by 3.1% in June and then by ...

  Bloomberg Global bond markets have suffered unprecedented losses since peaking last year, as central banks including the Federal Reserve look to tighten policy to combat surging inflation. The Bloomberg Global Aggregate Index, a benchmark for government and corporate debt total returns, has fallen 11% from a high in January 2021. That’s the biggest decline from a peak in data ...

  Bloomberg Chinese tech stocks extended a rally into a second day on Wednesday, as share buybacks by Xiaomi Corp. and Alibaba Group Holding Ltd. spurred hopes that other tech firms may follow suit. The Hang Seng Tech Index ended 2.1% higher, with Xiaomi gaining 4.1% and Bilibili Inc’s 10% advance among the outperforming names. The gauge has climbed nearly ...

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) participated in the inauguration of five colleges in Jordan, which were built with an ADFD funding of AED80.3 million. The initiative is part of the Jordanian Public Universities Development Programme that includes the implementation of 27 projects in the education sector at a total value of AED466 million to ...