Bloomberg Bank of France Governor Francois Villeroy de Galhau urged commercial banks to exercise caution on share buybacks — raising the pressure on lenders as they prepare their shareholder-payout plans for 2022. Addressing a conference in Paris, Villeroy reiterated that while French banks remain solid and should benefit from rising interest rates, heightened volatility and slower economy growth in ...

  Bloomberg Speculators cleaving to the view that the crypto rout is mostly over are at risk of a rude awakening in 2023, according to Standard Chartered. A further Bitcoin plunge of about 70% to $5,000 next year is among the “surprise” scenarios that markets may be “under-pricing,” the bank’s Global Head of Research Eric Robertsen wrote in a note. ...

  Bloomberg Prime Minister Pham Minh Chinh directed the central bank and credit organisations to immediately raise loan limits for banks and to businesses in good health to boost economic growth, job creation and inflation control, the government website reported. The State Bank of Vietnam, which currently limits the credit growth of the banking system to 14% and has said ...

Bloomberg Australia is set to raise interest rates as it closes in on the end of its tightening cycle, while nearby New Zealand just delivered a record hike and is poised to move higher, underscoring different central bank outlooks at year’s end. All-but one economist sees the Reserve Bank of Australia (RBA) hiking by a quarter-percentage point to 3.1%, with ...

  Bloomberg Chinese equities rallied and the yuan strengthened past a key level, as the authorities accelerated a shift towards reopening the economy and more investors turned bullish. The yuan breached the 7-per-dollar level, while a gauge of Chinese tech stocks in Hong Kong surged 9.3% in a fifth day of gains. The dollar bonds of developers also rise as ...

  Bloomberg Stock-market investors are hoping for a strong finish to a chaotic year. A less hawkish Federal Reserve and encouraging inflation data could unleash a mega-rally in December, which has proved to be a strong month for the stock market over the past 70 years. This year, though, it may get off to a late start: With all the ...

Bloomberg The Opec+ alliance decided to maintain production at current levels, pausing to take stock of a global oil market that’s roiled by uncertainty over Chinese demand and Russian supply. The outcome of the brief online meeting on Sunday reflects the unpredictability of supply and demand in the coming months, and the wild gyrations in prices of the past week. ...

  Abu Dhabi / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in the Al Dhafra Region, and Chairman of the Emirates Red Crescent, affirmed that the UAE is witnessing steady growth in promoting volunteer work, thanks to the directives and initiatives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. HH Sheikh Hamdan said that the ...

  Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council and Chairman of the Board of Trustees of the Dubai Future Foundation, witnessed the signing of three partnership agreements by Dubai Future Labs (DFL), an initiative of Dubai Future Foundation (DFF), with Emirates Airline, DP World, and dnata. ...

  Brussels / WAM In 2021, the EU spent $12.43 billion (€11.8 billion) on imports of non-plug-in hybrid cars (41% of total extra-EU imports of hybrid and electric cars), €11.4 billion on full electric cars (39%) and €5.9 billion on plug-in hybrid cars (20%), according to figures published by Eurostat, the statistical office of the European Union. For all three ...