Bloomberg China’s foreign exchange reserves fall for the fourth straight month in April, as capital outflow pressures grew and the yuan weakened. Reserves fall to $3.1197 trillion in April from March’s $3.188 trillion, the People’s Bank of China said in a statement. That compares with the median estimate of $3.13 trillion in a Bloomberg survey of economists. China in ...

  Bloomberg BNP Paribas SA has hired Gaurav Bathija from Citi Private Bank to be a managing director and senior relationship manager for South East Asia market, the latest in a series of hires by the French bank to boost its wealth and family office operations in Singapore. Bathija, who worked with Citi’s family office clients in Singapore, was head ...

  Bloomberg The European Central Bank’s (ECB) go-slow approach to starting interest-rate hikes is looking ever bolder at a time when most of its counterparts are tightening vigorously. At the end of a week punctuated by global increases in borrowing costs to quell inflation, including an accelerated half-point move by the US Federal Reserve and the Bank of England’s fourth ...

  Bloomberg Bank of England (BOE) Governor Andrew Bailey has said that he won’t take a pay rise this year after asking high earners to help keep inflation in check by holding off on making aggressive demands. The central bank chief, who receives total compensation well in excess of 500,000 pounds ($618,000), said he asked the court that sets executive ...

  Bloomberg Tesla Inc is making plans to resume double shifts at its factory in Shanghai as soon as mid-May as it expects staffing and parts shortages to ease, according to people familiar with the matter. The US electric carmaker’s China factory was shuttered for three weeks in April as Shanghai was plunged into lockdown in an attempt to halt ...

  Bloomberg BMW AG said earnings rose 12% in the first quarter even as the war in Ukraine and Covid-lockdowns in China disrupted the automaker’s supply chain. Group earnings before interest and tax rise to 3.39 billion euros ($3.6 billion) in the first quarter, the company said, exceeding analyst estimates of 2.9 billion euros. BMW confirmed the outlook for the ...

  Bloomberg Microsoft Corp is bringing the hit video game Fortnite back to iOS devices two years after Apple Inc took it off its App Store. Fortnite, produced by Epic Games Inc is one of the most popular video games of all time. But it’s been absent from Apple’s App Store and Google Play after Epic tried to circumvent the ...

  Bloomberg Stellantis NV’s sales jumped in the first quarter on the back of strong vehicle prices and a range of new models like the Jeep Grand Cherokee even as shipments dropped due to the supply-chain issues. The maker of Ram and Fiat brands said net revenue rose 12% to 41.5 billion euros ($44.1 billion), the company said. Stellantis said ...

  Bloomberg Oil prices edged higher on Friday and headed for the first back-to-back weekly gain in two months on signs the market is tightening as the European Union moved towards banning Russian crude. West Texas Intermediate futures traded near $109 a barrel, and were on track to be up more than 3% this week. The EU intends to ban ...

  Abu Dhabi / WAM Under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, and coinciding with the fourth anniversary of its founding, The World Muslim Communities Council (TWMCC) is organising an international conference on May 8-9, featuring representatives of over 150 countries, to discuss the topic of Islamic unity. The event will be ...