Bloomberg ABN Amro Bank NV said it will start a 500 million-euro share buyback ($571 million) after fourth quarter profit jumped, joining European peers in pledging higher returns as the industry rebounds from the pandemic. Net income soared to 552 million euros in the period, exceeding the 426 million euros that analysts surveyed by Bloomberg had expected on average, ...

  Bloomberg Societe Generale SA rebounded with a record annual profit from its first losing year in decades, as all main businesses at the French lender beat analysts’ estimates in the fourth quarter. A resurgent equities trading unit and record earnings from financing and advisory were among the highlights as revenue jumped 13% in the final months of last year ...

  Bloomberg US credit-card bills jumped sharply last quarter as Americans returned to pre-pandemic spending habits. Credit-card balances increased every quarter in 2021 to end the year at $856 billion, the Federal Reserve Bank of New York said. The fourth-quarter gain was the largest in figures dating back 22 years, and while the total amount is still below pre-Covid levels, ...

  Bloomberg Zambia’s central bank expects to complete research on forming a digital currency that could cut transaction costs and boost participation in the formal financial system by the fourth quarter. “The results of research will form part of the input in the policy considerations on whether to introduce a central bank digital currency in Zambia,” Nkatya Kabwe, acting assistant ...

  Bloomberg Credit Suisse Group AG warned that higher costs for pay and its restructuring will weigh on results in 2022, adding to the bank’s woes after it posted the biggest quarterly loss in about four years. The Zurich-based bank had a net loss of about 2 billion francs ($2.16 billion) in the three months through December, primarily driven by ...

  Bloomberg Bonds in India gained and the rupee falls after the central bank held back on a widely expected hike in a key rate, continuing with its benign policy stance amid a hawkish turn by most global central banks. The yield on five-year bonds fall 17 basis points to 6.20%, while that on 10-year note declined by ten points ...

  Bloomberg Stocks in Europe trimmed an advance on Thursday amid mixed corporate earnings, while US futures slipped as traders await key US inflation data that may shape views on how aggressively the Federal Reserve will tighten monetary policy. The Stoxx Europe 600 index was little changed after paring a gain of as much as 0.5%. Siemens AG jumped as ...

  Abu Dhabi / WAM The UAE is embarking on ambitious growth-focused reforms aimed at improving the ease of doing business, attracting foreign investors, creating jobs and diversifying the economy away from oil, said HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. He added that the country is also committed to combating the threat ...

  Abu Dhabi / WAM Aldar Properties (Aldar) on Wednesday announced its preliminary financial results for the full year of 2021, reporting revenues of AED8.58 billion, up 2 percent year-on-year, a gross profit of AED3.60 billion, up 21 percent year-on-year, and a net profit of AED2.33 billion, up 21 percent year-on-year, highlighting the resilience of Aldar’s diversified business model. Aldar ...

Dubai / WAM As part of its endeavours to strengthen its global presence as a trusted multi-lingual news provider, the Emirates News Agency (WAM) signed agreements for cooperation and news exchange with four leading TV and radio stations in Latin America and the Caribbean region. In a ceremony hosted by the Youth Pavilion at Expo 2020 Dubai, WAM signed the ...