Banking

  Bloomberg Mark Carney had better have made the most of his summer break, because he’s about to meet his critics again. In his first public appearance since the central bank unleashed a barrage of stimulus, the Bank of England governor will answer to a panel of lawmakers, including those who campaigned for Britain to leave the European Union. As ...

  DUBAI / Reuters Saudi Arabia’s top sovereign wealth fund is negotiating to buy a stake in one of the kingdom’s most ambitious real estate projects as Riyadh restructures the economy to cope with low oil prices, a source familiar with the plan said. The Public Investment Fund (PIF) aims to invest in King Abdullah Economic City (KAEC) on the Red ...

  Bloomberg Japanese government bonds’ worst week in a month sent 10-year yields almost back up to zero amid speculation the Bank of Japan will tweak its debt-buying program this month and concerns that demand will decline at auctions this month. Benchmark yields climbed to minus 0.02 percent, the highest since March 16 in Tokyo. Forty-year yields advanced to 0.57 ...

  DUBAI / Reuters The Gulf’s largest listed lender, Qatar National Bank (QNB), said on Sunday it would open a representative office in Cuba, becoming the first bank from the rich energy-exporting countries of the Gulf to do so. Government-controlled QNB has obtained regulatory approvals needed to open the office, in line with its strategy of expanding in selected countries, ...

  Bloomberg The European Central Bank (ECB) added a digit to its odometer to read 1,000,000,000,000. Euros, not kilometers. That’s the amount of excess liquidity now sloshing through the financial system — equivalent to almost 3,000 euros ($3,360) for each of the 340 million people in the 19-nation region. The money is created by the ECB through a program of ...

  Bloomberg Poland favours government-controlled insurer PZU SA as the buyer for Bank Pekao SA, the country’s second-largest bank held by Italy’s UniCredit SpA, with the price representing the main hurdle, Finance Minister Pawel Szalamacha said. Speaking to Bloomberg at the Ambrosetti Forum in Cernobbio, Italy, Szalamacha said his government backs a possible deal but insisted this was up to ...

  Bloomberg One of Hong Kong’s potentially most lucrative initial public offerings in recent years has bankers facing some difficult choices. Anbang Insurance Group Co., known for its aborted $14 billion attempt to buy Starwood Hotels & Resorts Worldwide Inc., has asked investment banks to pitch for roles on an IPO of its life insurance assets. While the recent dearth ...

  Bloomberg The world’s biggest banks are pressing UK Prime Minister Theresa May to strike an interim agreement with the European Union for financial companies before formal exit talks start, according to two people with knowledge of the matter. An interim agreement would seek to preserve passporting, the ability of banks to freely sell services and products across the EU, ...

  Bloomberg Sweden’s banks say their government is underestimating the damage that a new set of capital rules will do to the economy and public finances. The Swedish Bankers’ Association says a plan to curb the use of internal risk models to determine capital levels will cost as much as 365 billion kronor ($43 billion) in additional buffer requirements. Citing ...

  Bloomberg Before an elite financial and business audience, Italy’s prime minister and finance minister strove to project optimism that their drive to overhaul the country’s troubled banks will succeed. But a fellow guest from the European Central Bank damped expectations with a warning the market could have the last word. The restructuring of Banca Monte dei Paschi di Siena ...