Bloomberg Bank stocks down under have seen about $32 billion of market capitalisation erased this week on growing concerns that faster monetary policy tightening might increase housing-market risks and pressure valuations. Shares of the country’s four largest lenders will struggle to outperform given elevated price-earnings ratios and downside risks from the macro-economy, UBS Group AG analyst John Storey wrote in ...

  Bloomberg US-listed Chinese stocks rallied for a third day after China approved a second batch of video games this year, marking a further softening in the country’s stance towards internet firms. The Nasdaq Golden Dragon China Index gained 5.7%, hitting a three-month high and extending an 8.9% rally across the previous two sessions. Tech giant Alibaba Group Holding Ltd. ...

  ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE begins a new era of prosperity and growth, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. HH Sheikh Mohammed added that the vision of the UAE ...