Bloomberg Saudi Arabian stocks rose the most in the Gulf as the country’s oil giant delayed a long-awaited initial public offering (IPO), easing a sell-off of other stocks intended to fund purchases in the share sale. The Tadawul All Share Index climbed as much as 2.3%, recovering from a loss of 0.8% last week and trimming losses in October to ...

Bloomberg Global finance ministers and central bankers pledged to use all their tools, including fiscal policy, to support demand amid a “highly uncertain” outlook and elevated risks. “The outlook is highly uncertain and subject to elevated downside risks,” including trade tensions, policy uncertainty and geopolitical risks, according to a communique issued by the International Monetary and Financial Committee (IMFC), the ...

Bloomberg HSBC Holdings Plc may partially exit stock trading in some developed Western markets as part of a cost-cutting drive by Noel Quinn, the interim chief executive who wants the top job on a permanent basis. Equities sales and trading units in France, Germany, US and the UK are likely to be scaled back, according to people familiar with the ...

Bloomberg Japan has various ways to deploy fiscal stimulus if economic conditions warrant such action, according to Finance Minister Taro Aso. The nation’s economic fundamentals remain stable for now, but the government continues to use fiscal stimulus in a nimble manner, Aso said at a press conference in Washington, where the Group of 20 nations’ finance ministers and central bank ...

Bloomberg The dollar’s three-week slump may turn into further weakness through early next year, as potential progress on US-China trade talks and Brexit along with softer domestic economic data undermine the currency’s haven status, said Scotiabank’s Shaun Osborne. The Bloomberg Dollar Spot Index is down about 2% from a two-year high on October 01, amid its longest weekly losing streak ...

Bloomberg People’s Bank of China (PBOC) Governor Yi Gang said the yuan is at an “appropriate level” and cross-border capital flows have stayed balanced since the currency weakened past 7 per dollar in early August. “Depreciation since the beginning of August has been driven and determined by market forces and reflects shifts in market dynamics,” and the currency has been ...

Bloomberg Mongolia has been included on a list of countries monitored by an international agency that polices anti-money laundering activities and terrorism financing. Joining Mongolia as additions on the Financial Action Task Force’s watch list were Iceland and Zimbabwe, according to a FATF statement released by email from Paris. “Each jurisdiction has developed an action plan with the FATF to ...

Bloomberg Developing some form of synthetic central bank digital currency is “worth looking at,” according to Bank of England (BOE) deputy governor Dave Ramsden. The UK central bank is “very focussed” on what should be done to provide public infrastructure to encourage private innovation, said Ramsden, who oversees payments and fintech. Creating a digital currency with other central banks is ...

Abu Dhabi / WAM The oldest known natural pearl in the world has been discovered by Department of Culture and Tourism – Abu Dhabi archaeologists working at a Neolithic site on Marawah Island, just off the coast of Abu Dhabi. Dubbed the ‘Abu Dhabi Pearl’, it was found in layers that have been radiocarbon dated to 5,800-5,600 BCE, during the ...

Sharjah / WAM The Sharjah Islamic Bank (SIB), reported a net profit of AED415.4 million for the first nine months of 2019, compared to AED397.7 million for the same period last year, with a projected increase of 4.5%. The bank’s total assets reached AED45.6 billion as of the end of the third quarter of 2019, with an increase of AED890.2 ...