Bloomberg Singapore’s central bank said it will consider supervisory actions after DBS Group Holdings Ltd. suffered one of the worst digital disruptions for Southeast Asia’s biggest lender in the past decade. “This is a serious disruption and MAS expects DBS to conduct a thorough investigation to identify the root causes and implement the necessary remedial measures,” Marcus Lim, assistant managing ...

Bloomberg The Riksbank expects to start hiking interest rates in 2024, the first sign from the Swedish central bank that it sees an end in sight to its ultra-loose monetary policy. While policy makers kept their benchmark unchanged, they also signalled for the first time that they see a case to move higher within three years. Previously they said the ...

Bloomberg Zambia’s central bank in a surprise move raised its benchmark interest rate for the second time this year to try contain inflation that’s still nearly triple the targeted rate. The monetary policy committee lifted the gauge to 9% from 8.5%, Governor Denny Kalyalya told reporters. It was Kalyalya’s first rate decision since being reappointed to the post in September. ...

Bloomberg Bank of America Corp (BofA) strategists are bearish on markets next year and urged investors to focus on preserving cash as faster inflation and higher interest rates upend the trajectory of global asset prices. In a note to clients, strategists led by Michael Hartnett listed macro trade recommendations, including long positions on volatility gauges, oil, energy, the US dollar, ...

Bloomberg In a change of tone over the world’s two biggest emerging markets, global investors overseeing billions of dollars are slowly starting to favour China versus India — reversing a year-long trend that’s pushed stocks in opposite directions. BlackRock Inc. has upgraded Chinese stocks as policy hurdles ease, saying “the time to position in China is now,” while trimming its ...

Bloomberg One reason the first Covid-19 crash was so brutal back in March 2020 was all the froth that built up in markets before the virus landed. While there are differences for traders navigating the latest scare, a lot is the same, too. Chief among the similarities is a prevailing sense of comfort that investors found in solid economic data, ...

Abu Dhabi / WAM Under the directives of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, has ordered the disbursement of housing loans and houses, and residential plots ...

ZANZIBAR / WAM The Emirates Red Crescent Authority (ERC) opened the Abu Dhabi Residential Complex and Dubai Residential Complex in Nungwi and Pemba areas in Zanzibar region of Tanzania as part of the UAE humanitarian and developmental support to improve living standards in the region. The two complexes, which include 60 houses and associated healthcare, educational, electricity, water and environmental ...

Abu Dhabi / WAM The UAE’s Ministry of Industry and Advanced Technology (MoIAT) has announced a partnership with Siemens to accelerate the assessment of the digital maturity of the UAE’s industrial companies and develop a strategic roadmap to implement Industry 4.0 frameworks. The program will be overseen by MoIAT and Siemens in order to address a broad range of topics ...

DUBAI / WAM The Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism in Dubai reported that 10,707 Instant Licences were issued during the first 10 months of 2021, among which 63% were professional and 37% were commercial. The Instant Licence is a path-breaking service whereby businessmen can establish and conduct business in Dubai easily with ...