Banking

Bloomberg Goldman Sachs Group Inc is hiring senior investment bankers in Singapore, according to people with knowledge of the matter, as the US lender looks to bolster its dealmaking capabilities in Southeast Asia. The firm has hired Chua Hui Yin from JPMorgan Chase & Co. to cover corporate finance and execution, as well as Oversea-Chinese Banking Corp.’s Andrew Teo for ...

  Bloomberg Deutsche Bank AG is making headway in its effort to cut hundreds of millions of euros in costs by retiring the legacy IT systems linked to its Postbank unit. The lender “has successfully completed the first step” in a large-scale transformation of the IT systems in its retail business, it said in a statement on Wednesday. The project ...

  Bloomberg The Bank of Japan (BOJ) reiterated its ultra-loose monetary policy with four days of unscheduled bond buying as the widening interest rate gap with the U.S. puts upward pressure on bond yields and weakens the yen. The move comes as Japan’s benchmark 10-year yield stayed elevated at the 0.25% upper limit of the BOJ’s tolerated trading band despite ...

  Bloomberg Singapore’s central bank further tightened monetary settings and raised its inflation forecast, sending currency higher, as it seeks to fight cost pressures that threaten recovery from pandemic. The Monetary Authority of Singapore, which uses exchange rates as its main policy tool, said that it’s taking steps to strengthen the local dollar, which will help slow inflation momentum as ...

  Bloomberg China’s central bank rolled almost two dozen measures and promises intended to boost lending and support industries that have been battered by recent Covid-19 outbreaks and lockdowns. The 23 steps include everything from lending guidance for banks and promises to make it easier for companies to expand the cross-border use of the yuan, to general pledges for more ...

  Bloomberg The yen extended its longest-losing streak in at least half a century as traders ignored government warnings about the speed of the currency’s decline, focusing instead on the widening gap between Japanese and US interest rates. Japan’s currency slid for a 13th day against the dollar, the longest run of losses in Bloomberg data starting in 1971, after ...

  Bloomberg The Bank of Japan (BOJ) will explore the design issues of a central bank digital currency (CBDC) in measured steps like Sweden rather than pressing ahead with large-scale pilot tests like China, according to the BOJ’s point-man on digital yen research. “Sweden’s staged and planned expansion of experiments is a better fit for us than China’s big-scale tests ...

  Bloomberg Nigerian banks have been hit by an exodus of tech talent, chief executives of the nation’s lenders say. “So many of our very experienced talents especially in the area of software engineering are either leaving the industry or leaving the country,” Abubakar Suleiman, chief executive officer of Sterling Bank Plc, told reporters at the end of a meeting ...

Bloomberg The European Central Bank (ECB) renewed its pledge to end bond-buying in the coming months, as record inflation raises the odds it will also lift interest rates for the first time in more than a decade before the year is out. The Governing Council reiterated that it will halt net asset purchases in the third quarter — an accelerated ...

  Bloomberg Bank of America Corp (BofA) joined Wall Street rivals in capitalising on market volatility while also benefiting from an increase in lending. The company’s trading operation posted $4.72 billion in revenue, down just 7.1% from a year earlier after analysts expected a 16% decline. The best results were in the equities business, which posted a 9.5% gain, the ...