Bloomberg China’s central bank rolled almost two dozen measures and promises intended to boost lending and support industries that have been battered by recent Covid-19 outbreaks and lockdowns. The 23 steps include everything from lending guidance for banks and promises to make it easier for companies to expand the cross-border use of the yuan, to general pledges for more ...

  Bloomberg The yen extended its longest-losing streak in at least half a century as traders ignored government warnings about the speed of the currency’s decline, focusing instead on the widening gap between Japanese and US interest rates. Japan’s currency slid for a 13th day against the dollar, the longest run of losses in Bloomberg data starting in 1971, after ...

  Bloomberg The Bank of Japan (BOJ) will explore the design issues of a central bank digital currency (CBDC) in measured steps like Sweden rather than pressing ahead with large-scale pilot tests like China, according to the BOJ’s point-man on digital yen research. “Sweden’s staged and planned expansion of experiments is a better fit for us than China’s big-scale tests ...

  Bloomberg Nigerian banks have been hit by an exodus of tech talent, chief executives of the nation’s lenders say. “So many of our very experienced talents especially in the area of software engineering are either leaving the industry or leaving the country,” Abubakar Suleiman, chief executive officer of Sterling Bank Plc, told reporters at the end of a meeting ...

Bloomberg The European Central Bank (ECB) renewed its pledge to end bond-buying in the coming months, as record inflation raises the odds it will also lift interest rates for the first time in more than a decade before the year is out. The Governing Council reiterated that it will halt net asset purchases in the third quarter — an accelerated ...

  Bloomberg Bank of America Corp (BofA) joined Wall Street rivals in capitalising on market volatility while also benefiting from an increase in lending. The company’s trading operation posted $4.72 billion in revenue, down just 7.1% from a year earlier after analysts expected a 16% decline. The best results were in the equities business, which posted a 9.5% gain, the ...

Bloomberg China’s technology stocks slumped as trading resumed in Hong Kong after the long weekend, with continued concern over government regulation and a potential delisting of US-traded shares dampening sentiment. The Hang Seng Tech Index declined 3.8% from its closing level on April 14, with video-game streaming site Bilibili Inc plunging almost 11%. China is starting a two-month “clean-up” inspection ...

Bloomberg Stocks in Europe declined and bond yields climbed as markets reopened after a holiday amid hawkish comments by Federal Reserve officials and Russia’s renewed campaign in eastern Ukraine. Healthcare stocks led the decline in the Stoxx Europe 600 index. Dutch automaker Stellantis NV slumped after halting output at factory near Moscow that makes vans, following a long list of ...

  Dubai / WAM The UAE is again launching widespread charity initiatives during the holy month of Ramadan, embodying the culture of giving, enshrined across all national sectors. Emirati initiatives have helped ensure food security for vulnerable people around the world and provided for their needs, including clothing, medicines and other means of support. This year, the 1 Billion Meals ...

  Abu Dhabi / WAM The Abu Dhabi Business Centre (ADBC), a part of Department of Economic Development (Added), announced that 80 new economic activities were added during 2021, brining the total of economic activities to 4062 by end of last year. New added activities cover many vital business sectors, including 40 new commercial activities, 25 professional, six industrial, five ...