Bloomberg Bofa Securities Inc. is predicting more gains for the Indian rupee in the near term, joining Citigroup Inc., as the narrowest trade deficit in a year augurs well for the nation’s external finances. “The recent correction in rupee valuation and near-term improvement in current-account and capital flows tilt the risk-reward in favour of rupee appreciation,” Abhay Gupta, a strategist …

  Bloomberg One of India’s biggest state-backed lenders is willing to consider lending additional money to the beleaguered Adani group including for a project to remodel a slum that is among the world’s largest. Bank of Baroda will extend loans to the conglomerate if it meets the lender’s underwriting standards, said Sanjiv Chadha, chief executive officer and managing director, adding …

  Bloomberg Deutsche Bank AG’s top supervisors are critical of how the lender handled an internal investigation into mis-selling of derivatives, raising questions about its findings. The European Central Bank (ECB) and German regulator BaFin have told Germany’s largest bank that the probe, known as Project Teal, took too long and wasn’t wide enough in their view, according to people …

  Bloomberg Bank of Japan (BOJ) watchers are flagging the outside risk that Governor Haruhiko Kuroda may surprise international markets one last time next month with adjustments to smooth the transition process for his nominated successor Kazuo Ueda. The central bank’s yield curve control program already presents a complicated challenge for Ueda. As soon as he takes the BOJ’s helm, …

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) agreed to pay Cerberus Capital Management LP $770 million to settle a lawsuit with origins in the 2008 financial crisis. The settlement amount is $85 million less than CIBC had set aside in a pretax provision in its fiscal first quarter to cover damages and prejudgment interest after a court ruled against …

  Bloomberg Adani Group companies have seen more than $135 billion of equity market value wiped out since the explosive Hindenburg Research report, but none is hit as bad as Adani Total Gas Ltd. The stock has lost more than three quarters of its value since the short seller report was published on January 24. Yet, it is the second-most …

  Bloomberg Global stocks trimmed gains and US equity-index futures dropped on concern the Federal Reserve will keep borrowing costs higher for longer. Optimism over China’s economic recovery that drove a rally in Asia fizzled in European hours. The Stoxx Europe 600 Index erased an advance, falling for a second day. The Shanghai Composite Index earlier climbed the most since …

  Bloomberg Oil capped its longest string of daily losses this year as hawkish signals from Federal Reserve officials added to concerns about a glut of crude piling up in storage. A significant increase in US inventories and a broader risk-off sentiment sparked by the prospect of continued rate hikes from the Fed have weighed on oil this week. The …

  Abu Dhabi / WAM Under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the International Defence Conference (IDC 2023), got underway on Sunday at Adnoc Business Centre one day ahead of the International Defence Exhibition and Conference (Idex), and the Naval Defence & Maritime Security Exhibition (Navdex). The one-day International Defence Conference is organised by …

  Abu Dhabi / WAM G42, the leading UAE-based artificial intelligence and cloud computing technology holding company, and its subsidiaries Bayanat, Presight.AI and G42 Cloud, have announced their participation as Strategic Partner at the International Defence Conference (IDC), which is organised by Adnec group in cooperation with Tawazun Council and the UAE Ministry of Defence. The event, held on February …