Bloomberg Credit Suisse Group AG’s longtime top shareholder Harris Associates slashed its stake by about half, in a sign of wavering confidence on the latest turnaround plan of the troubled Swiss lender. The US investment firm, which last year still held a stake of about 10%, saw its holding fall to about 5% as of the end of last year, ...

  Bloomberg The Bank of Korea (BOK) is set to raise its key interest rate one more time, with policymakers then seen bringing their 18-month tightening cycle to a close amid rising concerns about the economic outlook. Eleven of 16 economists surveyed expect the central bank will hike the benchmark to 3.5%, while the remaining five expect it to hold at ...

  Bloomberg European Central Bank (ECB) Governing Council member Mario Centeno said increases in borrowing costs must persist until inflation is on a sustainable path to officials’ 2% target. Despite moderating for two straight months, price gains are “still too high,” Centeno told lawmakers in Lisbon, where he heads Portugal’s central bank. “How can we respond to this problem?” Centeno ...

Bloomberg The six biggest Wall Street banks are expected to slash their corporate bond issuance in 2023 for a second year in a row, offering a bright spot for investors nursing record losses from the debt last year. The biggest US banks could sell a total of $20 billion to $25 billion across currencies this month after they post earnings, ...

  Bloomberg European stocks advanced and Wall Street futures were steady as traders braced for a report that may show US inflation is cooling, reducing pressure for aggressive rate hikes from the Federal Reserve. The benchmark European stocks gauge advanced 0.5%, boosted by a second day of gains for real estate stocks amid hopes of an easier outlook for rates. ...

  Bloomberg South Korea plans to significantly extend onshore trading hours for the won next year in an effort to improve access for foreign investors. The government will work to allow dollar-won spot trading until 2 am as early as the second half of 2024, versus the current close of 3:30 pm, Finance Minister Choo Kyung-ho said during a press ...

  Bloomberg Britain’s blue-chip stock index is trading near an all-time high in an optimistic start to 2023, adding to gains for a gauge that managed to avoid last year’s global selloff. The FTSE 100 Index closed up 0.4%, taking its year-to-date rise to 3.7% and closing at the highest level since August 2018. The index is less than 2% ...

DUBAI / WAM Emirates NBD has announced the successful pricing of its inaugural AED1 billion dirham-denominated bond, the first such issue by a UAE bank. The group’s bond sale will support the further development of a medium-term bond yield curve and facilitate access to financing for UAE corporations. The three-year bond saw strong demand, with the order book peaking at ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to Sultan Haitham bin Tariq Al Said of Oman, on the anniversary of his accession to power. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, dispatched a similar message ...

  DUBAI / WAM The number of golden visas issued in all categories increased to 79,617 in 2022, up from 47,150 in 2021, the General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA) said. The year ended on a high-note, completing millions of transactions and providing customers with high-quality smart services. The GDRFA also received a number of local ...