Bloomberg US banks had only a few weeks’ experience with the full-blown pandemic when they last tried to forecast how bad things would get. Now, they’re about to reveal what three more months of Covid-19 did to the industry. Second-quarter results, set for release next week, will probably show that the trends that took hold at the start of the ...

Bloomberg Stimulus measures like bond purchases are more effective than interest rate cuts to support the economy at this point in time, Riksbank Governor Stefan Ingves said. “Altogether, these measures entail a monetary policy that is aimed in full at attempting to alleviate the negative effects of the corona pandemic on the Swedish economy,” Ingves said, according to minutes of ...

Bloomberg Yes Bank Ltd. set a large discount in the price range for its $2 billion public offering scheduled for next week. The Mumbai-based lender plans to sell the shares at 12 rupees to 13 rupees apiece, a filing showed. That’s a discount of as much as 55%. Yes Bank, which was bailed out this year, is the latest Indian ...

Bloomberg Investors are gearing up for a potentially tumultuous European earnings season that may offer clues on whether the stock market’s rapid rebound since the start of the Covid-19 pandemic has been wise or foolish. The second-quarter reporting season kicks off this week with the likes of Volvo AB, Electrolux AB and Nordea Bank set to shed light on the ...

Bloomberg Similarities between a speculative frenzy that this month added more than $1 trillion in value to China’s stock market and 2014’s debt-fuelled binge left investors wondering if a new bubble was in the making. Familiar signs of euphoria emerged before Beijing moved to cool the rally. Turnover soared, margin debt grew at the fastest pace since 2015 and a ...

Bloomberg President Donald Trump said a phase two trade deal with China isn’t under consideration, saying the relationship between Washington and Beijing has deteriorated too much. “I don’t think about that,” Trump said when asked about the possibility of a second round of trade agreements with China. “The relationship with China has been severely damaged.” Trump’s comments — made to ...

Bloomberg Jio Platforms Ltd., the digital services business controlled by billionaire Mukesh Ambani, completed the sale of 6% of its shares for about $4 billion. Saudi Arabia’s Public Investment Fund closed a deal for a 2.3 percent stake for 113.7 billion rupees ($1.5 billion), according to an exchange filing from Jio’s parent, Reliance Industries Ltd. Silver Lake purchased 2.1% of ...

Bloomberg Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York, but is still down for the week. The market followed stocks higher after Gilead Sciences Inc. said its remdesivir treatment cut Covid-19 mortality risk by 62%. Still, the coronavirus pandemic is far from ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) has embarked on the Operational Phase of the Software Asset Management Project, a key tool for leveraging asset management structures. It caters to the development of a specialist software encompassing all financial and contractual details of the RTA’s assets as well as the development of competent personnel to manage the system. ...

DUBAI / WAM Dubai SME, the agency of Dubai Economy, mandated to develop the small and medium enterprise (SME) sector and entrepreneurship continued to expand and diversify its advisory and support programmes in 2019 with an added emphasis on enhancing SME competitiveness and strengthening Dubai as a hub of innovation and entrepreneurship. The past year saw 3,871 Emirati entrepreneurs benefit ...