Bloomberg Thousands of Indian farmers on Tuesday escalated protests to revoke controversial agricultural laws, clashing with police and storming key landmarks in New Delhi to pressure Prime Minister Narendra Modi. The farmers, who have camped at various border points around the capital for two months, had permission to demonstrate after the completion of an annual military parade to mark Republic ...

Bloomberg UBS Group AG plans to buy back as much as 4 billion francs ($4.5 billion) of shares over the next three years, bolstering shareholder returns after income from managing client assets and investment banking propelled gains at the world’s largest wealth manager. The lender is doubling the size of a previous repurchase program and said it expects to buy ...

Bloomberg African Bank Holdings Ltd. reported a full-year loss a day after announcing the unexpected resignation of Basani Maluleke, the only Black women to lead one of South Africa’s top banks. The unsecured lender swung to a 560 million-rand ($37 million) loss in the 12 months through September, compared with a year-earlier profit of 267 million rand, Johannesburg-based African Bank ...

Bloomberg The People’s Bank of China (PBOC) will seek to balance supporting economic growth and curbing emerging risks, Governor Yi Gang said, signalling a continuation of the central bank’s existing policy stance. “Going forward, China’s monetary policy will, on one hand, adjust to new economic developments in a timely manner, and on the other hand maintain policy stability to avoid ...

Bloomberg The race to succeed UniCredit SpA Chief Executive Officer (CEO) Jean Pierre Mustier is accelerating, with the Italian bank trimming its list of preferred candidates to just three or four after high-profile names such as Tidjane Thiam dropped out of contention. The bank is now seeking to name a successor earlier than its initial target of February 10, according ...

Bloomberg Australia’s central bank is worried an extended period of very low interest rates could spur borrowers to take on more debt than they can handle — particularly if lending standards slip and risk appetite increases. Documents under a Freedom of Information request show the Reserve Bank of Australia saw risks in its decisions to cut the key interest rate ...

Bloomberg Europe’s central banks are ramping up their efforts to support green finance as authorities contemplate how to fight climate change while rebuilding their economies after the pandemic. The latest initiative includes a fund launched by the Bank for International Settlements for green-bond investments by central banks. The European Central Bank (ECB) committed to buy into the initiative, and announced ...

Bloomberg Tencent Holdings Ltd. slumped after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time. The Chinese internet behemoth lost 6.3% in Hong Kong on Tuesday, putting its market capitalisation below $890 billion. Traders took profit after Monday’s 11% rally, which was Tencent’s biggest in almost a decade. Adding ...

Bloomberg Global stocks were mixed as M&A deals gave a boost to Europe, while worries about new virus variants and hurdles to the Biden administration’s stimulus proposal fanned a risk-off mood in the US and Asia. S&P 500 equity futures dropped, while Treasury yields climbed as President Joe Biden said he’s open to negotiating his $1.9 trillion Covid-19 relief proposal. ...

ABU DHABI / WAM Abu Dhabi Department of Economic Development (Added) has launched the “Made in Abu Dhabi” campaign to promote national products manufactured in Abu Dhabi emirate in order to enhance their competitiveness and encourage consumers to ‘buy local’. In addition, it will incentivise manufacturers to display the approved campaign logo on their products. In order to communicate the ...