Banking

Bloomberg DBS Group Holdings Ltd.’s private bank raised more than S$1.6 billion ($1.2 billion) from two in-house products, including a new one targeting sustainable investing. The Barbell Income Fund, which invests in stocks, bonds and cash, drew about S$970 million in less than six weeks after introduction, Southeast Asia’s largest bank said in an emailed release. The other product based ...

Bloomberg NatWest Group Plc faces landmark money laundering charges for failing to properly monitor a company’s account that received cash deposits totaling $365 million. The bank failed to conduct proper due diligence and oversight of the company’s account over a five-year period through 2016, the UK Financial Conduct Authority (FCA) said. The charges relate to NatWest’s relationship with Fowler Oldfield ...

Bloomberg Pakistan has hired banks for a possible foreign-currency bond offering. The government has mandated Deutsche Bank, JPMorgan Chase & Co., Credit Suisse group and Standard Chartered, the people said. The South Asian nation is looking to raise funds after reaching an agreement with the International Monetary Fund on resumption of a $6 billion bailout program that was secured in ...

Bloomberg Hong Kong’s bankers are working around the clock as the region’s companies rush to go public. Initial public offerings (IPO) in the city have already hit almost $11 billion, a close to 500% jump from a year earlier, with video streaming platform Bilibili Inc. and search giant Baidu Inc. among companies preparing multi-billion dollar deals. Digital roadshows and clients ...

Bloomberg The Canadian dollar is outperforming all of its major peers this year, and several analysts see room for more gains as the economic recovery picks up, bolstering speculation about reduced stimulus. Data showing stronger-than-expected job growth in February provided the impetus for the loonie to climb to a three-year high, even as the US currency rises against the majority ...

Bloomberg A SPAC backed by Martin Blessing, Commerzbank AG’s former chief executive officer (CEO), plans to list in Amsterdam and target investments in financial services and technology companies. The special purpose acquisition company, EFIC1, will seek to raise as much as $496 million and seek out companies in Europe, including the UK, according to a statement on Monday, confirming an ...

Bloomberg Denmark’s central bank adjusted its toolbox to help it steer money market rates and ultimately the krone, which is pegged to the euro. The bank called the changes “technical” in nature, and “not intended to influence the level of the money market rates or the Danish krone,” according to a statement. The goal is to “ensure more stable money ...

Bloomberg The European Central Bank (ECB) pledged to ramp up buying government debt in coming months in a bid to a contain rising bond yields that threaten to derail the region’s economic recovery. Policy makers expect purchases in the next quarter “to be conducted at a significantly higher pace than during the first months of this year,” according to a ...

Bloomberg At next week’s policy review, the Bank of Japan (BOJ) is considering releasing an analysis of the potential impact of lowering its negative interest rate to show its determination to use this option if needed, according to people familiar with the matter. BOJ officials say the assessment would hint at the likely results of a lower negative rate on ...

Bloomberg Rising yields at India’s latest government bond auction are signalling the central bank may be reluctantly accepting higher borrowing costs amid a global rout. The Reserve Bank of India (RBI) sold some of 10-year debt at 6.22%, compared with about 6% in previous auctions. That’s after a spike in US Treasury yields and oil prices pushed borrowing costs higher ...