Bloomberg Deutsche Bank AG plans to raise as much as 1.8 billion euros ($2.2 billion) in an initial public offering of its asset-management unit, a key pillar of the German lender’s turnaround strategy. The offering values the asset manager at as much as 7.2 billion euros, a valuation that would align it with its bigger peer Amundi SA. Nippon Life ...

Bloomberg VBS Mutual Bank, one of South Africa’s smallest lenders, has been put into administration after it was unable to repay money owed to municipalities, according to the country’s central bank. The management team has been relieved of its duties and a curator from the auditing firm SizweNtsalubaGobodo put in place following a “severe liquidity crisis,” Lesetja Kganyago, governor of ...

Bloomberg Agricultural Bank of China Ltd. said it aims to raise as much as 100 billion yuan ($15.8 billion) in what would be the biggest-ever follow-on share offering by a Chinese company as it moves to replenish capital. China’s third-largest lender will sell up to 27.5 billion shares to seven state-linked entities including the country’s Finance Ministry, Central Huijin Investment ...

Bloomberg Egypt selected four European banks to manage its first euro-denominated bond sale, taking advantage of lower borrowing costs in Europe as it looks to secure funding to plug the budget deficit. The government picked BNP Paribas, Deutsche Bank, Standard Chartered and Intesa Sanpaolo for the issuance worth between 1 billion and 1.5 billion euros that’s slated to be held ...

Bloomberg The Polish central bank could yet waver on its commitment to keep interest rates stable. While three of Poland’s biggest lenders said Governor Adam Glapinski last week delivered the most dovish briefing of his tenure, its message was still so nuanced that some in the market are having second thoughts. The zloty, after a brief decline, has settled down ...

Reuters Expectations for inflows of foreign funds in coming months boosted Saudi Arabia’s stock market to a multi-year high on Sunday, while a leap by Dubai’s biggest bank, Emirates NBD, lifted that index. The Saudi index surged 1.8 percent, its biggest daily gain since last June, to 7,696 points, its highest finish since November 2015. The index, which had added ...

Bloomberg Bitcoin’s rough week headed for a bitter ending. The virtual currency fell 6 percent to $8,760 in New York, after earlier losing as much as 10 percent. Bitcoin has slumped more than 20 percent this week amid increased regulatory scrutiny in the US and Japan, an attempted theft at one of the biggest trading venues, and news that the ...

Bloomberg EON SE agreed to acquire Innogy SE from German rival RWE AG, transforming the energy industry as Europe’s largest economy continues its switch to renewable power. In a complicated deal involving shares and asset swaps, EON SE will emerge with the retail and network businesses of both companies, while RWE will end up owning the combined renewable generation businesses ...

Bloomberg Across Britain, energy companies are hoping that Brexit just might just go away. Energy has only been a sideshow in the discussions about the UK leaving the European Union even though it’s a key part of the trade bloc’s single market. Power and natural gas companies say Britain’s existing relationship with the bloc on energy matters should remain in ...

Bloomberg Jordan selected 45 companies including France’s Total SA and Saudi Arabia’s ACWA Power as finalists to bid for six solar and wind energy power plants with total capacity of 300 megawatts of power. The 31 companies selected for the four solar power plants include Linuo Group, FRV Solar Holdings, ACWA Power, Chint Solar, Total Solar and TBEA Xinjiang Sunoasis, ...