Bloomberg Indonesia’s central bank cut its benchmark interest rate to a record low and downgraded its growth outlook amid fears that a resurgence in Covid-19 cases is slowing economy’s recovery. Bank Indonesia slashed the seven-day reverse repurchase rate by 25 basis points to 3.5%, the lowest level since the rate was introduced in 2016. The move was expected by 22 ...

Bloomberg Deutsche Bank AG scaled back plans for its bonus pool after the European Central Bank (ECB) objected to proposed payout levels, highlighting the challenges of rewarding top performers while heeding demands for restraint during the global pandemic. Germany’s largest lender had initially planned to pay out more than 2 billion euros ($2.4 billion) for staff performance in 2020, but that ...

Bloomberg Sudan’s central bank said on Sunday it was implementing a unified exchange rate system, part of broader measures aimed at reviving its struggling economy. The central bank instructed banks and exchange bureaus to adopt the new system with immediate effect, according to a statement on its website. The move aims to curb volatility in the exchange rate at a ...

Bloomberg While technology stocks continue to front Asia’s equity rally, one hot sector from 2020 has fallen to the bottom of the leaderboard: health care. Essentially flat year-to-date, a gauge of the sector is the worst-performing in Asia, lagging the region’s benchmark by eight percentage points. It is on track to underperform the MSCI Asia Pacific Index for a third ...

Bloomberg The obstacles to higher yields in the world’s biggest debt market are slowly melting away. Bond bears appear to be having more than just a moment here at the start of 2021, with Treasury yields finally busting out of long-held ranges to levels last seen in the early days of the pandemic. Most Wall Street analysts see yields gliding ...

Bloomberg Oil fell to the lowest in a week as output slowly resumed in Texas, while margins for processing gasoline surged as Gulf Coast refineries are seen taking weeks to restart operations after the deep freeze. Crude futures in New York plunged $1.28, its biggest decline in dollar terms since late December. Producers including Marathon Oil Corp are using restored ...

Bloomberg The Biden administration singled out a Russian ship for violating US prohibitions on constructing the Nord Stream 2 pipeline from Russia to Germany, clearing the way for a new round of sanctions as part of its effort to stop the nearly-completed project. In a report, the US cited the ship, the Fortuna, and its owner, KVT-RUS. The report also ...

Bloomberg Cathay Pacific Airways Ltd is taking extreme measures to cope with new rules that will require flight crew to quarantine in Hong Kong from Saturday, introducing a rotation policy that puts staff out of action for almost one month at a time after they’ve completed 21-day shifts. Crew who volunteer to take part in the airline’s so-called closed loop ...

Bloomberg The UK airline industry stepped up a campaign to persuade Prime Minister Boris Johnson that travel should be included in his plan to reopen the economy, calling for a clear road map to ease travel restrictions ahead of the crucial summer season. In a webinar organised by lobby group Airlines UK, heads of carriers including EasyJet Plc and Virgin ...

Bloomberg All Boeing Co 737 Max flights around the world are being tracked by US regulators who are keeping watch on the plane after its 20-month grounding. The Federal Aviation Administration (FAA) is using a network of satellites capable of tracking planes in even the most remote regions as if they were under surveillance by local radars, according to the ...