Bloomberg Asia’s major banks are seeing a widening gap between ESG leaders and laggards, as regulators in the region ramp up scrutiny of sustainable finance, according to WWF-Singapore. While leading banks in Singapore and Malaysia made headway on implementing their environmental and social risk policies in 2022, over half of the 46 regional lenders surveyed made “little to no ...

  Bloomberg JPMorgan Securities LLC asked a court to order one of its former employees to stop poaching its customers for his new employer, Morgan Stanley Smith Barney LLC. Joseph A Michael, who quit in December after more than 18 years at JPMorgan, has already persuaded about 32 JPMorgan households, with assets totalling about $28 million, to start transferring their ...

  Bloomberg Peru extended its biggest-ever phase of monetary tightening in a bid to curb a spike in inflation that is now being aggravated by anti-government protests and road blockades. The central bank raised its benchmark rate by 0.25 percentage points to 7.75%, the highest level in more than two decades. The decision was in line with expectations, and was ...

  Bloomberg Wells Fargo & Co., announcing a “new strategic direction” for a mortgage empire that was once the largest in US banking, said it will stop funding home loans arranged by outsiders and shrink the portfolio of debts that it services. The retreat from so-called correspondent lending and reduction in servicing caps years of efforts to clean up a ...

  Bloomberg US mortgage rates retreated for the first time in three weeks, helping provide a modest lift to refinancing activity. The contract rate on a 30-year fixed mortgage decreased 16 basis points to 6.42% in the week ended January 6, according to Mortgage Bankers Association (MBA) data. That helped boost applications for refinancing, which rose 5.1% in the week. ...

  Bloomberg Three months after Goldman Sachs Group Inc carved out a new division to house what’s left of its once-ambitious foray on Main Street, it’s giving shareholders a clearer look at those financials. The collection of businesses — including Goldman’s Apple Card — now packaged into the segment dubbed Platform Solutions racked up more than $1.2 billion in pretax ...

Bloomberg Global funds are returning to China’s onshore stock market in full force as the nation emerges from Covid restrictions and pivots to pro-growth policies. Offshore investors added about $2 billion in mainland shares on Friday alone via trading links with Hong Kong, the largest daily tally in two months, according to data compiled by Bloomberg. Foreigners have boosted holdings ...

  Bloomberg Philippine’s stock benchmark entered a bull market, as the country’s central bank signalled an imminent end to its monetary tightening cycle and the outlook for corporate earnings brightens as China reopens its borders. The peso also strengthened along with most Asian currencies as traders eased off hawkish bets for the Federal Reserve. The Philippine Stock Exchange Index rose ...

  Dubai / WAM The 28th edition of the Dubai International Pharmacy Technologies Conference and Exhibition, Duphat 2023, concluded on Thursday in Dubai, generating exceptional interest from stakeholders across the pharmaceutical industry. The three-day global event saw commercial deals worth over AED6.12 billion, an increase of 20 percent from the previous year. Organised for the past 28 years by Index ...

  Abu Dhabi / WAM In his capacity as Ruler of Abu Dhabi, President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has issued a law establishing Abu Dhabi Media Office. The new entity replaces Abu Dhabi Government Media Office, and has the Creative Media Authority and Abu Dhabi Media Company under its umbrella. As an independent entity, Abu Dhabi ...