Bloomberg Credit Suisse Group AG completed Europe’s first commercial real estate collateralised loan obligation, according to lawyers involved in the deal, breaking into a market that’s more than doubled in the US. The bank sealed a deal with commercial real estate lender Starz Real Estate, according lawyers at Reed Smith who represent the borrower. The agreement, denominated in euros and ...

Bloomberg Iceland’s central bank delivered its biggest hike since the coronavirus crisis struck in a bid to quell inflation and a rampant housing market. Policy makers in Reykjavik lifted seven-day term deposit rate by 50 basis points to 2%, highest level since March 2020. “The inflation outlook has deteriorated somewhat since August, owing in part to more persistent global price ...

Bloomberg Banks will play a key role in helping drive a reduction in carbon emissions through advising clients on how best to address their environmental footprint, according to a senior executive at HSBC Holdings Plc. “Catalyst is the word I use, but it’s in a very proactive sense,” Colin Bell, who leads HSBC’s European unit, said in a panel discussion ...

Bloomberg LGT, a private bank owned by the Princely House of Liechtenstein, plans to double staff in Japan as it joins global rivals targeting $17 trillion of household wealth in the Asian country. LGT Wealth Management Trust Inc, which kicked off services in Japan last month, wants to build a workforce of 70 to 80 over the coming three years, ...

Bloomberg One of the biggest risks banks face when it comes to cryptocurrencies is being left out of the market altogether. That’s the view from Commonwealth Bank of Australia (CBA) Chief Executive Officer Matt Comyn, who says although the digital assets are “very volatile and speculative”, banks need to be involved in the adoption of technology underpinning crypto and the ...

Bloomberg One exchange-traded fund (ETF) shows how investors are increasing bets on a rebound in Chinese property junk bonds. Surging inflows have lifted total assets of the iShares USD Asia High Yield Bond Index ETF to $1.87 billion from $383 million at the end of August, an increase of 388%. In October alone, the fund attracted a record $773 million. ...

Bloomberg Investors are running away from companies that stand to benefit from a return to normalcy as Covid-19 cases mount in the US and the virus wreaks havoc in Europe. Cruise ship operators Carnival Corp, Royal Caribbean Cruises Ltd. and Norwegian Cruise Lines Holdings Ltd each closed down more than 2% as investors piled into less risky assets. The S&P ...

Bloomberg A less volatile year is ahead for markets, should a forecast by UBS Global Wealth Management’s Nadia Lovell play out. “Next year, we think financial markets will discover what normal looks like from a growth and an inflation standpoint,” the firm’s senior US equity strategist said in an interview on Bloomberg TV’s Surveillance. “In that environment, the S&P can ...

ABU DHABI / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court and the Chairman of the Abu Dhabi Early Childhood Authority (ECA) emphasised that the UAE is dealing with children’s issues through an integrated system, at the legislative, educational, cultural and health levels. His Highness Sheikh Theyab indicated that ...

ABU DHABI / WAM The United Arab Emirates has submitted three proposals to the International Maritime Organisation (IMO) that support the reforms undertaken by IMO regarding the development and improvement of the work system. The reforms were introduced during the meetings of the IMO Council, where the UAE has a Category (B) membership. Through this move, the country hopes to ...