Bloomberg Swiss National Bank (SNB) policy makers watching the effects of negative interest rates on the economy are worrying about the real-estate bubble that their policy is helping to foster. Aware that any shift in their sub-zero stance could unsettle currency markets, officials are likely instead to highlight the availability of regulatory tools to cool the property market at their ...

Bloomberg JPMorgan Chase & Co opened its digital retail bank in the UK on Tuesday as it expands its consumer business overseas. The bank, called Chase, launched with a fee-free current account and plans to add savings and investment accounts along with loans, according to a statement. Chase will also try to tempt new customers with 1% cashback on debit ...

Bloomberg Bank of America Corp (BofA) has promoted three bankers to be heads of global financial institutions investment banking, according to a memo reviewed by Bloomberg News. Will Addas, Gary Howe and and Giorgio Cocini will take on the new roles. “These three leaders will share responsibility for driving business strategy globally, seizing opportunities for continued growth and leading a ...

Bloomberg Sweden’s central bank will this week reveal if a buoyant economic recovery and inflation that is heading towards the fastest since 2008 are reason enough to bring forward plans for tightening monetary policy. Economists don’t expect the Riksbank to change its interest rate on Tuesday, while investors are focusing on whether officials reckon the benchmark, now at zero, should ...

Bloomberg HDFC Bank Ltd, India’s most valuable lender, plans to double the amount of loans it makes to retail borrowers over the next couple years as consumer demand ramps up from a pandemic-induced slowdown. Uncertainty is declining and demand is improving as businesses seek to bolster growth after Covid-19, Arvind Kapil, the bank’s country head for retail assets, said. It’s ...

Bloomberg A selloff in stocks moderated on Tuesday as traders assessed risks from China’s crackdown on the real-estate sector and looked ahead to this week’s Federal Reserve meeting. The Stoxx Europe 600 index climbed more than 1%, rebounding from the biggest drop in two months, with energy companies leading the advance and most industry sectors in the green. Royal Dutch ...

Bloomberg Bitcoin extended losses on Tuesday, falling to the lowest level since August after a global selloff in riskier assets took the overall value of the cryptocurrency market back below $2 trillion. The largest digital coin falls as much as 7.6% to $40,237 before paring some of the decline. Second-biggest token Ether was trading below $3,000, while Cardano, Solana, Polkadot ...

CAIRO/Dubai / WAM The Arab Parliament has expressed its complete rejection of the resolution passed by the European Parliament (EP) criticising the UAE’s human rights record. In a meeting presided over by its Speaker Adel bin Abdulrahman Al Asoomi, the Arab Parliament stressed that the resolution included factually incorrect information with regards to human rights in the UAE. In its ...

ABU DHABI / WAM Mohammed Saif Al-Suwaidi, Director-General of the Abu Dhabi Fund for Development (ADFD), received at the fund’s headquarters a government delegation from Georgia headed by Natia Turnava, Minister of Economy and Sustainable Development, in the presence of Paata Kalandadze, Ambassador of Georgia to the UAE, and Rashid Al Kaabi, Director of Investments Department at ADFD. The two ...

ABU DHABI/ WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has received a letter of thanks from Iranian President Ebrahim Raisi, in reply to a congratulatory cable he earlier sent to him on winning Iran’s presidential election. In his message, President Raisi expressed hope to develop bilateral relations with the UAE, especially in the economic field, citing the ...