Banking

Bloomberg HSBC Holdings Plc is set to reaffirm its position in Saudi Arabia with the takeover of Royal Bank of Scotland Group Plc’s local venture as lenders bet on the kingdom’s ambitious plans to transform its economy. In the country’s first bank merger in almost 20 years, HSBC affiliate Saudi British Bank offered to take over RBS-backed Alawwal Bank in ...

Bloomberg A stronger dollar, rising US yields and geopolitical tensions have sent plenty of investors bolting from emerging markets. Then there’s Aberdeen Standard Investments and Goldman Sachs Asset Management. Aberdeen Standard Investments, which oversees about $770 billion, took advantage of the recent selloff to increase its holding in the Russian ruble, South African rand and Indonesian rupiah. Goldman Sachs Group ...

Bloomberg Poland’s lack of urgency to raise interest rates is becoming less out of step with global central banks as plans to tighten monetary policy get sidetracked around the world. Maintaining the rate differential with major economies won’t be a challenge any time soon for Governor Adam Glapinski as he looks to extend Poland’s longest-ever policy pause at least through ...

Bloomberg A Swedish interest rate increase as early as October is in line with the policy path laid out by the central bank, Riksbank Deputy Governor Cecilia Skingsley said. Policy makers last month again pushed back a plan to raise rates for the first time in seven years, saying they didn’t see a tightening until towards the end of the ...

Bloomberg Thailand’s central bank left its benchmark interest rate unchanged near a record low, and said it doesn’t feel pressure to join a global wave of tightening that’s swept along some peers in Southeast Asia. Monetary policy committee members voted unanimously to hold the one-day bond repurchase rate at 1.5 percent, where it’s been since 2015, according to a Bank ...

Bloomberg UBS Group AG’s head of mergers and acquisitions for Europe, the Middle East and Africa, Severin Brizay, is planning to leave to join Bank of America Corp., according to people familiar with the matter. Brizay will become head of consumer and retail investment banking for EMEA at the US lender, the people said, asking not to be identified as ...

Bloomberg The US dollar’s resurgence is running on fumes. A short squeeze that sparked the greenback’s fastest rise in 18 months has fizzled out, according to Wall Street strategists, who warn of mounting bearish conditions for the currency: paltry domestic inflation, economic resilience overseas and the potential escalation of trade tensions. For now, call last week’s sideways move in the ...

Bloomberg India’s inflation accelerated more than estimated in April, providing ammunition to hawks in the central bank to tighten monetary policy and fuelling a selloff in bonds. Consumer prices rose 4.6 percent in April from a year earlier, the statistics ministry said in a statement in New Delhi, higher than the 4.4 percent median estimate in a Bloomberg survey of ...

Bloomberg Credit Agricole SA’s trading revenue slumped in the first three months of the year, squeezing earnings at its investment bank. A “more difficult environment” in capital markets and a stronger euro weighed on its performance, Credit Agricole said in a statement on Tuesday. Revenue also suffered from the bank taking a more “selective” approach to employing its capital, which ...

Bloomberg Nigerian inflation eased for the 15th straight month in April, moving closer to the central bank’s target and expanding room for monetary-policy makers to consider trimming their key interest rate. Consumer-price growth in Africa’s most populous nation slowed to 12.5 percent from a year earlier compared with 13.3 percent in March, the Abuja-based National Bureau of Statistics said in ...