Bloomberg Handelsbanken AB, Sweden’s third-largest bank, plans to distribute a stake worth about $1 billion in investment company Industrivarden AB to shareholders. “As a result of the bank’s good capital situation, the board of directors of Handelsbanken has resolved to convene an extraordinary general meeting and propose an extra dividend,” the company said in a statement. The bank’s capitalisation is ...

Bloomberg Credit Suisse Group AG is considering moving its Asian investment banking operations into its global securities and advisory business as part of a wider overhaul by chairman Antonio Horta-Osorio to turn around the troubled bank. Consolidating the advisory business into the global investment bank would mirror a similar move last year to bring the Asian markets activities into that ...

Bloomberg The European Central Bank (ECB) will discuss boosting its regular asset purchases once the pandemic-era emergency stimulus comes to an end, but any such increase is uncertain, Governing Council member Madis Muller said. While the euro area’s recovery should allow the ECB to end its 1.85 trillion-euro ($2.2 trillion) pandemic bond-buying program in March, officials will discuss how to ...

Bloomberg The Bank of Spain expects inflation to peak in November before easing back below the European Central Bank (ECB) 2% target next year. The central bank raised its forecasts to 2.1% in 2021 and 1.7% in 2022 from a previous 1.9% and 1.2% respectively. The spike in inflation, driven mostly by record high electricity prices, will likely be transitory, ...

Bloomberg Deutsche Bank said trading accelerated again over the past weeks, one of the few large investment banks to give guidance on the quarter after a strong first half of the year. “July started off pretty muted for the markets in general,” Mark Fedorcik, who heads the investment bank, said at a virtual conference hosted by Barclays Plc. “We saw ...

Bloomberg Norway’s central bank is poised to raise its interest rate this week in the first such post-pandemic tightening among nations with the world’s 10 most-traded currencies. Responding to a buoyant economic recovery, Norges Bank will lift its benchmark on Thursday by a quarter-point from zero, according to all but one of the 15 economists surveyed by Bloomberg. That places ...

Bloomberg India should put off a plan to shorten settlement of stock transactions as it raises the risk of default by local brokerages and dims the country’s allure to global investors, a lobby group said. Capital market regulator, Securities and Exchange Board of India (Sebi), has announced a proposal to allow stock exchanges to offer next-day settlement in some stocks ...

Bloomberg Stocks in Europe rise for a second day along with US index futures as concerns about China Evergrande Group’s debt woes eased ahead of Wednesday’s Federal Reserve policy decision. Basic resources and energy were among the leading gainers in the Stoxx Europe 600 index as commodity prices steadied after Beijing moved to contain fears of a spiraling debt crisis ...

SHARJAH / WAM HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of the Ruler of Sharjah, Chairperson of The Big Heart Foundation (TBHF) and UNHCR Eminent Advocate for Refugee Children, has allocated AED6 million worth of medications to be shipped from the UAE, to support young cancer patients in the Children’s Cancer Centre of Lebanon (CCCL), as a response to ...

ABU DHABI / WAM Department of Health (DoH) — Abu Dhabi, the regulator of the healthcare sector in the emirate, has announced that it is adopting advanced drones to distribute and transfer medical supplies within the healthcare sector. The project, a first of its kind in the Mena, will create a state-of-the-art delivery system and network using drones at 40 ...