Bloomberg Bank of America Corp. (BofA) pledged to add $10 billion to an affordable-homeownership program through 2025, tripling its initial commitment. The plan is aimed at low- and moderate-income communities, and may enable 60,000 individuals and families to purchase homes, the bank said in a statement. The program includes as much as $10,000 of assistance for down payments, as well as ...

Bloomberg European Central Bank President (ECB) Christine Lagarde predicted the euro-area recovery will pick up in the summer, while stressing that public authorities will have a difficult job weaning the economy off of emergency support. In an interview with French newspaper Le Journal du Dimanche, Lagarde expressed confidence in the region’s ability to emerge from the coronavirus crisis stronger, with ...

Bloomberg Having propelled the benchmark gauge almost 10% this week in a budget-driven rally, stock bulls in India are now counting on earnings to be the catalyst for the next leg up. The 34 NSE Nifty 50 Index members that have declared December-quarter results have posted a 34% jump in earnings from a year earlier, according to a note from ...

Bloomberg The Swiss National Bank’s (SNB) portfolio of US equities rose to a record $141 billion as of December, reflecting a buoyant stock market. Switzerland’s central bank has 20% of its reserves in stocks, and its filing to the Securities and Exchange Commission showed it owned shares in 2,490 companies as of December 31. Notable holdings included Apple Inc., Amazon ...

Bloomberg Near the start of December, a mystery over-the-counter trade pulled about $7 billion from Vanguard Group’s S&P 500 exchange-traded fund. It just got it all back and more. The $194 billion Vanguard S&P 500 ETF (ticker VOO) added $8.7bn on a single day this week, about two months after that record withdrawal. Similar to 2020 mega outflow, VOO’s cash ...

ABU DHABI / WAM The United Arab Emirates is at the forefront of the countries advocating women’s rights at the global level through a series of initiatives and programmes aimed at supporting and empowering women in many societies and countries. The UAE tops advanced ranks on many global indicators related to supporting women’s rights and empowerment, as well as its ...

Abu Dhabi / WAM Mohammed Ateeq Al Falahi, Secretary General of the Emirates Red Crescent (ERC), said the charitable foundation has become a “well-known humanitarian and development institution locally, regionally and globally.” He told Emirates News Agency (WAM) that ERC’s relief programmes, which are carried out in 100 countries around the world on an annual basis, have “witnessed a notable ...

Dubai / WAM “NAU by DP World”, a digital marketplace and an aggregator of cargo ‘dhows’, traditional wooden vessels, has achieved a shipping volume of more than 255,000 tonnes in 2020, with 1,762 dhows registered in the application. Launched officially in February 2020, NAU connects Dhow owners with traders allowing them to search, negotiate and book shipments. The platform represents ...

ABU DHABI / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Prime Minister of Pakistan Imran Khan, reviewed prospects of further growing their bilateral relations across all fronts. This came in a phone call Sheikh Mohamed received on Saturday from the Pakistani leader wherein they ...

Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) announced on Saturday that it is reducing overall trading activity fees on all exchange transactions starting from February 14 as part of its “ADX One” strategy to double the market capitalisation of companies listed on the exchange in the next three years. The new pricing structure will be the second ...