Bloomberg UBS Group AG’s investment bank underperformed US peers in the fourth quarter, as equities revenue slumped and the Swiss firm failed to match gains in fixed-income trading. Revenue at the equities division — about twice the size of the debt and forex business — fell about 20% to $883 million, compared with declines of about half that on Wall ...

  Bloomberg Overseas funds piled into UK government bonds at an unprecedented pace in December 2022, one of the strongest signs yet that a market written off as broken just months ago is on the mend. Non-residents bought £38.3 billion ($47 billion) of gilts last month, figures published by the Bank of England (BOE) on Tuesday showed. A “portion of ...

  Bloomberg The Chinese central bank will extend the use of three monetary policy tools designed to encourage financial institutions to support green technologies and the logistics sector, the People’s Bank of China (PBOC) said in a statement. The bank will continue to offer cheap funding until the end of 2024 to banks which lend to firms that are helping ...

  Bloomberg Pakistan’s rupee advanced from a record low as the International Monetary Fund (IMF) team is set to start negotiations over the resumption of its $6.5 billion bailout. The rupee climbed 1.7% to 265 per dollar, after sliding to an unprecedented 270, according to the foreign—exchange desk at Arif Habib Ltd. The benchmark stock index climbed 1.9%, snapping a two-day ...

  Bloomberg Foreigners are returning to China’s stock market with a vengeance, snapping up more shares in January alone than they did for the whole of 2022. Offshore funds have added a net 141.2 billion yuan ($20.9 billion) worth of stocks listed in Shanghai and Shenzhen through trading links with Hong Kong this month, even with a week-long holiday trading ...

Bloomberg European stocks declined on Tuesday, trimming one of the best starts of the year ever, as investors brace for expected interest rate hikes from central banks in the coming days, while also digesting earnings from large lenders. The Stoxx Europe 600 Index was down 0.2% by 9:14 am. Real estate and financial services retreated, while banks outperformed. In a ...

Bloomberg Gautam Adani inched closer to completing his flagship company’s $2.5 billion share sale, a feat that could offer Asia’s richest man some reprieve after his empire was rocked by allegations of fraud by short seller Hindenburg Research. Investors had placed orders for about 85% of the total shares on sale in the follow-on offering by Adani Enterprises Ltd. as ...

  Dubai / Gulf Time With the attendance of Sultan Butti bin Mejren, Director General of Dubai Land Department, Ahmed Al Bawardi, CEO of Tanami Arabia Co. and Chairman of Ektimal Sports Co., Humphrey Cobbold – Chief Executive Officer of PureGym UK and Turki Al Rajhi – Partner at Al Rajhi Holdings, PureGym Arabia, the franchise partner of PureGym Group ...

  Abu Dhabi / WAM The official visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to the Islamic Republic of Pakistan, which was scheduled for Monday, will be postponed due to weather conditions. During the visit, UAE President and Pakistan’s Prime Minister were due to discuss areas of mutual cooperation between the UAE and Pakistan. A phone ...

  Abu Dhabi / WAM Emirates Global Aluminium (EGA) and Microsoft UAE on Monday announced their collaboration on Industry 4.0 and broader digital transformation, aiming to set global best practice for the aluminium industry while improving the sustainability of EGA’s computing operations. Both Microsoft and EGA are members of the UAE Ministry of Industry and Advanced Technology’s Industry 4.0 Champions ...