Classic Layout

Goldman sees new conundrum capping Treasury yields surge

  Bloomberg Bond buyers face a “new conundrum” where Treasury yields will stay low even as the Federal Reserve hikes rates, despite the surge in the first week of the year, according to Goldman Sachs. The investment bank expects the bond market to be reluctant to lift the terminal rate during the coming tightening cycle. So while raising its year-end ...

Read More »

Citigroup backs Ghana health startup’s Africa expansion plan

  Bloomberg Citigroup joined other investors in helping mPharma, a Ghanaian health startup, to raise $35 million for further expansion in Africa. Jam Fund Management II, Social Capital and Lux Capital Management provided equity of $30 million, while Citigroup approved a loan of $5 million for the venture, mPharma CEO Gregory Rockson said. Founded in 2013, mPharma is building a drug ...

Read More »

Wells Fargo’s chief risk officer quits after 4 years

  Bloomberg Wells Fargo & Co Chief Risk Officer Amanda Norton, who joined in 2018 to help turn around the scandal-ravaged lender, is leaving as the cleanup continues. Norton, 55, will retire from the bank at the end of June, and a replacement will be named in coming weeks, Wells Fargo told staff in a memo. “Strengthening our risk and ...

Read More »

South Korea’s won slides to 17-month low

  Bloomberg South Korea’s won dropped to the weakest level in more than 17 months as traders geared up for a quicker pace of US interest-rate hikes and North Korea test-launched another ballistic missile. “The won’s weakness is expected to ease soon,” as China’s yuan — which Korea’s currency closely follows — will attract bullish bets in the first quarter, ...

Read More »

Credit Suisse chair to get warning on quarantine breaks

  Bloomberg Credit Suisse Group AG Chairman Antonio Horta-Osorio is likely to receive a warning, rather than a dismissal, from the bank’s board of directors after a probe into his repeated violations of quarantine rules last year, Tages Anzeiger reported. The bank’s board of directors is expected to publicly issue a reproach of Horta-Osorio’s conduct in the coming weeks, the ...

Read More »

Asia stocks advance amid bond turmoil; dollar rises

  Bloomberg Stocks in Asia nudged higher on Monday as investors brace for the bond-market volatility and stimulus withdrawal. The dollar rose. Shares in Hong Kong advanced as technology stocks rebounded. They fall in South Korea, while China edged higher. US futures inched upward after the S&P 500 posted the worst start to a year since 2016, as expectations of ...

Read More »

India’s benchmark yield jumps to two-year high

  Bloomberg India’s benchmark yield jumped to the highest in two years as demand for bonds at recent auctions dwindled amid concern over the central bank’s consistent sales of the nation’s debt in the secondary market. The 10-year bond yield rises five basis points to 6.59%, highest since January 2020. That’s after underwriters stepped in to buy nearly 44 billion ...

Read More »

Oil rides into 2022 on bullish wave as demand fears fade

  Bloomberg Oil has started off 2022 with a bang. A market that was supposed to suffer a ballooning surplus instead surpassed $80 a barrel last week as global demand shrugs off the Omicron variant, while a host of supply constraints hit producers from Canada to Russia. With investment banks calling for higher prices, and options contracts invoking the prospect ...

Read More »

‘Extreme Weekends’ begin at Sheikh Zayed Festival

  ABU DHABI / WAM “Extreme Weekends”, a series of astonishing live motorcycle shows taking place at the Sheikh Zayed Festival in Al Wathba, has begun with thrilling shows on its first weekend, and will continue until January 30. On day one of the event, four world-renowned bikers performed mind-boggling stunts on a special track set near the Emirates Fountain, ...

Read More »

UAE, Norway discuss boosting cooperation

  Abu Dhabi / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has discussed with Anniken Huitfeldt, Minister of Foreign Affairs of the Kingdom of Norway, the cooperation relations between the two countries. In a phone call, the two sides also reviewed a number of issues related to the work programme of the ...

Read More »
Send this to a friend