Bloomberg Indonesia’s central bank held its benchmark interest rate at a record low again, saying inflation remains manageable as it cemented its place as an outlier on monetary policy. Bank Indonesia left the seven-day reverse repurchase rate unchanged at 3.5%, as predicted by 24 of 33 economists surveyed by Bloomberg. The rest expected policy makers to kick off the ...

  Bloomberg The UK government is tightening rules on buy now, pay later loans to try to prevent borrowers from taking on unaffordable debts. After months of consultations, the Treasury confirmed that lenders will be required to carry out affordability checks on customers and ensure advertisements are fair. Providers will need to be approved by the Financial Conduct Authority and ...

  Bloomberg AIB group is set to be hit with a possible record fine from Ireland’s central bank for its role in a mortgage overcharging scandal, according to three people familiar with the matter. The central bank is preparing to sanction the bank for its role in charging thousands of customers the wrong interest rate on mortgages that tracked the ...

  Bloomberg HSBC Holdings Plc has lost two senior investment bankers in Asia, according to people familiar with the matter, as global banks compete for financial technology talent and the dealmaking slows down. Nate Tan, a managing director, has left the British lender and will join Singapore’s United Overseas Bank Ltd. in its digital banking platform team, the people said, ...

  Bloomberg European stocks retreated and bond yields tumbled as comments by Federal Reserve Chair Jerome Powell and growth data in Europe stoked fear about a global dowturn. Oil extended losses. The Stoxx Europe 600 Index slipped about 1%, with miners and energy firms posting the biggest declines. Contracts on the Nasdaq 100 flipped to gains from losses while those ...

  Bloomberg SoftBank Group Corp founder Masayoshi Son is used to praise and encouragement from shareholders. But company’s loss of $34 billion in market value over the last year is a test for even his most faithful admirers when they gather for the annual shareholders’ meeting. Investors stuck by Son when SoftBank announced a holding company strategy in 2015 to ...

  Bloomberg At least 1,000 people have been killed and hundreds more injured after a powerful earthquake hit southeastern Afghanistan overnight, setting off a new humanitarian crisis in a country already facing a crumbling economy and hunger. The eastern Paktika province was the worst hit, Sharafuddin Muslim, the deputy state minister for Disaster Management said. The state-run Bakhtar News agency ...

  ABU DHABI / WAM Under the directive of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the 28th United Nations Climate Change Conference of the Parties (COP28) will be hosted at Dubai Expo City. The directive underlines the venue’s unique proposition as a state-of-the-art destination, which brought the world together in the UAE for six months. Both Expo ...

Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) signed an agreement with Pure Health, the UAE’s largest integrated healthcare group, to join the National In-Country Value Programme, one of the key pillars of the national industrial strategy. As part of the agreement, that was signed on the second day of the “Make it in the Emirates” ...

  Abu Dhabi / WAM Edge, an advanced technology group for defence and beyond, on Wednesday signed a memorandum of understanding with Abu Dhabi-based Troossmil Trading LLC to forge long-term collaboration for the supply of coating materials for munitions, and other locally manufactured speciality products. The agreement was signed by Ahmed Al Khoori, Senior Vice President of Strategy & Excellence ...