Bloomberg South Africa’s rand is on track for a sixth consecutive week of declines versus the dollar — but there are indications the selloff may be about to ease. One of this year’s worst emerging-market performers, the rand has carried a heavy risk premium amid concerns about the nation’s growth as state-owned power company Eskom Holdings SOC Ltd deploys ...

  Bloomberg Federal Reserve officials may need to raise interest rates as high as 6.5% to defeat inflation, according to new research that was sharply critical of the central bank’s initially slow response to rising prices. In a paper presented at a conference in New York, a quintet of Wall Street economists and academics argue that policymakers still have an ...

  Bloomberg Canadian Imperial Bank of Commerce’s (CIBC) traders gave the bank’s earnings a boost last quarter amid a strong stretch for interest-rate products. Revenue from the capital-markets division rose to C$1.48 billion ($1.09 billion) in the three months through January, up 14% from a year earlier, the Toronto-based bank said. Overall profit topped analysts’ estimates for the fiscal first ...

  Bloomberg North Carolina investment firm founder Greg E Lindberg, who is awaiting retrial on charges he tried to a bribe state official, was indicted in a separate case alleging he orchestrated a $2 billion insurance fraud scheme. Lindberg, 53, and two others were indicted by a federal grand jury in Charlotte, court records show. They’re accused of improperly taking ...

  Bloomberg Bank of Japan (BOJ) Governor nominee Kazuo Ueda warned against any magical solution to produce stable inflation and normalise policy as he largely stuck to the existing central bank script in the first parliamentary hearing to approve his appointment. During a session that lasted almost three hours, Ueda said the BOJ should continue with stimulus for now, while ...

  Bloomberg European stocks advance, while US index futures and Asian equities fell, as investors hunted for pockets of value amid hawkish central banks, disappointing earnings and further power consolidation in China. The dollar gained before data on the Federal Reserve’s preferred inflation measure. The Stoxx Europe 600 Index climbed for a second day. Contracts on the S&P 500 and ...

  Bloomberg The Adani group will hold a fixed-income investor roadshow in Asia next week as the embattled Indian conglomerate seeks to repair the damage caused by a shock short-seller report. The group will hold a roadshow in Singapore on February 27, and Hong Kong on February 28 and March 1, according to a person familiar with the matter. Among ...

  Dubai / Gulf Time Tabani Real Estate, a leading real estate company in Dubai, is proud to announce that it will be organising a grand real estate event in collaboration with Arada to launch the Jouri Hills Villas project in Dubai. The event is scheduled to take place on February 25, 2023, at the JGE Head Office in Arada ...

  Abu Dhabi / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), ordered the provision of AED20 million to implement the Ramadan programmes in Syria. He also instructed the ERC to offer the best services to Syrians and provide for their needs during the Holy Month ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has congratulated Sultan Hassanal Bolkiah MuÊ¿izzaddin of Brunei on the occasion of his country’s National Day. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, dispatched a similar message to the Sultan of Brunei on the ...