Bloomberg Bank of England (BOE) Governor Andrew Bailey told UK lawmakers he is “very uneasy about the inflation situation” amid mounting evidence that a shortage of workers will drive up wages. Bailey told the House of Commons Treasury Committee that the labour market is looking “tight” but that he wanted to see what happened after the furlough program ended before voting ...

Bloomberg Australia’s central bank chief Philip Lowe opened the door to an interest-rate increase before 2024 as policy makers acknowledged quicker consumer-price gains last quarter had altered the inflation picture. Lowe said in a speech Tuesday that a rate hike in 2024 was “still plausible,” while adding that a quicker return to the bank’s inflation target could make the case ...

Bloomberg Bank of England (BOE) policy maker Jonathan Haskel injected a note of caution into the debate about whether to raise interest rates in the UK. Speaking at a Resolution Foundation event, Haskel said the economy was “firing on two cylinders” and that it’s “too early to declare success” in getting those on furlough back into work. While Haskel said he ...

Bloomberg Da Afghanistan Bank, the country’s central bank, is selling $10 million dollars to support the currency which has been tumbling to record lows, the first such auction under the new Taliban regime. The central bank, in a statement, said qualified banks and currency exchangers can participate in the bidding, without providing any details on when the results of the ...

Bloomberg A Black loan underwriter who said he was fired due to racism alleges that US Bancorp engaged in redlining — discriminating against people of colour when lending. John Span also claims in a lawsuit that he endured a “toxic and racially hostile work environment” during his time in the firm’s indirect auto-lending group. In the complaint, filed in Illinois ...

Bloomberg Asian stocks were steady Tuesday and the yuan climbed as traders weighed the outcome of the first face-to-face virtual summit between US President Joe Biden and Chinese leader Xi Jinping. Treasury yields dipped. MSCI Inc’s Asia-Pacific share gauge posted a modest advance, while US and European equity futures fluctuated after the S&P 500 and Nasdaq 100 ended flat. Hong ...

Bloomberg Singapore’s state-owned investor Temasek Holdings Pte sold shares of US-listed Chinese technology companies from Alibaba Group Holding Ltd and Didi Global Inc to online education providers amid regulatory crackdowns. Temasek cut 16% of its stake in e-commerce giant Alibaba and 11% of its shares in ride-hailing service Didi, according to a 13F filing for the three months ended September ...

DUBAI / WAM The Mohammed Bin Rashid Initiative for Global Prosperity Monday announced that it will host the Global Prosperity Conference to explore the role of start-ups, disruptive business models, and digital innovations to support the advancement of the United Nations Sustainable Development Goals (SDGs) and drive global good. Reinforcing the importance of technology as a key tool for positive ...

Dubai / WAM On the second day of Dubai Airshow 2021, the Ministry of Defence announced the conclusion of 5 deals at the value of AED11,284,837,000.00 with local and international companies. The total number of deals in these two days have been 10 contracts with a total value of AED16,524,044,000.00. The deals of the first day amounted to AED5,239,207,000. This ...

ABU DHABI / WAM This year’s Adipec — the global energy industry’s largest, most important and influential event — opened on Monday and will run until November 18 to offer face-to-face meetings for the energy industry following the challenges of Covid-19. The event is held under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and hosted ...