Bloomberg Canadian banks are bringing forward their forecasts for interest rate hikes to as early as next week, amid growing evidence the economy is hitting limits and inflation pressures are rising. Economists at TD Securities and Laurentian Bank said the Bank of Canada will start a hiking cycle at its policy decision on January 26. Bank of Montreal brought ...

  Bloomberg Citigroup Inc is planning to exit retail-banking operations in Mexico — where it has its largest branch network in the world — as part of CEO Jane Fraser’s continued push to overhaul the firm’s strategy. The lender will keep its institutional businesses in the country, according to a filing. The exit could ultimately take the form of a ...

  Bloomberg Mitsubishi UFJ Financial Group Inc will start charging new customers for a bank passbook, joining other Japanese lenders that are pushing clients to kick the 150-year-old habit for the sake of the environment. The country’s largest bank will require new clients to pay 550 yen ($4.83) a year for a passbook, encouraging them to embrace digital services, people ...

  Bloomberg Jefferies Financial Group Inc strategists turned bullish on Chinese stocks, saying they’re due for a rebound after getting hammered by a year of regulatory crackdowns and a slowing economy. After being underweight on Chinese equities for most of 2021, “the case for a mean-reversion led bounce is building,” Jefferies strategists including Desh Peramunetilleke wrote in a January 17 ...

  Bloomberg Most stocks fall on Tuesday amid a jump in global bond yields as investors girded for the removal of central bank support to quell high inflation. Europe’s Stoxx 600 Index declined, with energy the only sector to advance. US equity futures slipped before the market reopens later from a holiday. Asian shares struggled. Treasuries dropped across the curve, ...

Abu Dhabi / WAM We condemn the Houthi militia’s targeting of civilian areas and facilities on UAE soil today. We reiterate that those responsible for this unlawful targeting of our country will be held accountable,” His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation said in a statement. In a statement, the Ministry of ...

  ABU DHABI / WAM Zayed Higher Organisation for People of Determination (ZHO) announced its accession to Rehabilitation International (RI), a worldwide organisation founded in 1992, working to promote the rights of People of Determination and engage them around the world. Rehabilitation International comprises of service providers, government agencies, academics, researchers, and advocates working to improve the quality of life ...

  DUBAI / WAM “In the last half century the UAE has developed into a living hub of innovative business,” according to Dutch Prime Minister Mark Rutte. “This same forward looking dynamic approach is needed more than ever by the UAE, and others in the gulf region, post the announcement of net zero commitment by 2050,” he added while virtually ...

  DUBAI / WAM The United Arab Emirates (UAE) is keen to seize the economic opportunities presented by the energy transition, according to Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Abu Dhabi Future Energy Company (Masdar). Dr Al Jaber made the remarks during the opening ceremony of ...

  Dubai / WAM Hewlett Packard Enterprise on Monday announced that it has signed a memorandum of understanding (MoU) with the UAE Cyber Security Council to enhance cyber skills training in schools and prepare Emirati youth for careers in the technology industry. HPE and the Cyber Security Council will launch various initiatives nationwide and expect to work with more than ...