Bloomberg Singapore’s sovereign wealth fund GIC Pte ceased being the biggest shareholder in UBS Group AG after cutting its ownership by almost half, saying it was “disappointed” that it lost money during nearly a decade in which it was invested in the Swiss bank. GIC sold a stake of about 2.4 percent at 16.10 francs ($16.20) a share, according to …

Reuters Islamic banks have continued to expand their balance sheets and capital buffers, but the era of double-digit growth rates could be coming to an end while asset quality concerns creep up, an industry oversight body said on Tuesday. Islamic finance, which has its core markets in the Middle East and Southeast Asia, follows religious principles that forbid interest and …

Bloomberg Sweden’s central bank wants to track a different consumer-price gauge and introduce a tolerance band in a move that will give policy makers more leeway to unwind stimulus after half a decade of below-target inflation. The world’s oldest central bank wants to start targeting an index called CPIF, which factors out changes to mortgage costs, instead of the headline …