Bloomberg Housing Development Finance Corp (HDFC) priced its biggest ever rupee bond issuance ahead of a merger with its banking unit, which will create an Indian financial services behemoth valued at more than $200 billion. India’s largest mortgage lender will raise 250 billion rupees ($3 billion) selling notes due in a decade at a coupon of 7.97%, according to ...

  Bloomberg Polish banks risk a new nightmare scenario after an adviser to the European Union’s top court said they can’t seek extra remuneration from thousands of customers whose risky Swiss Franc-denominated mortgages were annulled after being deemed unfair. In cases where contested mortgage deals are voided by local courts, lenders can’t claim payments beyond reimbursements of the loan principal, ...

  Bloomberg Nigerian President Muhammadu Buhari delayed a plan to outlaw some old high-value banknotes to April 10 as the West African nation struggles with a shortage of cash. The central bank in October announced that it would redesign 200-, 500- and 1,000 naira notes in a bid to mop up excess cash and rein in inflation. That led to ...

  Bloomberg Credit Suisse Group AG is exiting distressed debt and special-situations trading, as part of its broader exit from risky and capital-intensive businesses. The bank is selling a book of assets including bond and loan positions related to distressed companies, with a market value of about $250 million, according to people with knowledge of the matter. Final commitments from ...

  Bloomberg A $2 trillion swathe of China’s local bond market is approaching a risky inflection point as issuers struggle to refinance maturing debt. Net financing — new yuan bond issuances minus maturities — for the country’s local government financing vehicles, or LGFVs, turned negative in the fourth quarter of 2022 for the first time in at least four years, ...

  Bloomberg A rally in Bitcoin took the token to the cusp of scaling $25,000 for the first time since August amid broad gains in crypto markets as investors shook off concerns about a US regulatory clampdown. The largest digital asset rises as much as 3% on Thursday and was trading at $24,620 as of 8:15 am in London. Smaller ...

  Ajman / Gulf Time In 2003, Homes r Us opened the door to their first-ever store in the UAE. Since then, the home-grown brand has extended its reach throughout the UAE and the Middle East, carving a space for itself as a quality home décor and furniture brand that is well-loved by generations. Over the past 20 years, the ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has ordered the provision of an additional $50 million as relief aid for quake-affected people in Syria, with $20 million of the sum to be allocated to implement humanitarian projects in response to the emergency appeal of the United Nations (UN) regarding Syria. The project will be ...

  Dubai / WAM The UAE Food Bank and the Regional Food Banks Network signed, in conjunction with the World Government Summit in Dubai, a partnership agreement to preserve food from wastage and destruction, and to strengthen the bonds of joint cooperation between them in their fields of work. The two parties seek joint cooperation in many fields, including learning ...

  Abu Dhabi / WAM The UAE’s Edge group has announced the acquisition of a majority stake in Estonia-based Milrem Robotics, Europe’s leading developer of robotics and autonomous systems. The transaction is the largest foreign investment in Estonia’s growing defence industry. Milrem Robotics will join Edge as a new entity within its Platforms & Systems cluster, complementing the group’s multi-domain ...