Bloomberg The Bank of England (BOE) is preparing to halt its almost 900 billion-pound ($1.2 trillion) quantitative easing program, leaving the future of what has become a controversial crisis-fighting tool shrouded in doubt. More than decade after buying the first government security as part of an initial 75-billion pound, three-month plan during the global financial crisis, the BOE will next ...

Bloomberg Vietnam’s central bank bought about $25 billion worth of US dollars over the past two years, according to a deputy governor. The move helped inject the Vietnamese dong into the banking system and boost the economy, Pham Thanh Ha told an economic forum in Hanoi. The US Treasury last week announced that Vietnam met all the criteria again of ...

Bloomberg Paul Pester, former chief executive officer of TSB Bank Plc, is preparing to launch a social network for digital payments, according to Sky News. Loop, as the startup is called, raised a seed round of investment and plans to bring in more money next year, according to the report. Pester’s partners on the project are Anthony Thomson, the founder ...

Bloomberg Shorter-maturity Indian bonds are poised to extend losses amid growing expectations the central bank will accelerate its policy normalisation as the economic revival gains traction. Rates on notes with maturities of up to two years climbed in recent weeks as the central bank expanded its efforts to remove excess liquidity from the banking system, with the one-year bill yield ...

Bloomberg UBS Group AG will compensate its Hong Kong employees for quarantine costs, matching similar plans by US rivals, as global financial institutions step up efforts to retain staff weighed down by city’s strict zero-Covid policy. Citadel, JPMorgan Chase & Co and Morgan Stanley are among those to have rolled out compensation plans for Hong Kong staff. Goldman Sachs Group ...

Bloomberg Hong Kong Exchanges & Clearing Ltd (HKEX) plans to establish a representative office in New York to market its offerings in the US amid increasing doubts over the former British colony’s status as a financial hub. The new office will comprise of only about five staff, people familiar with the plans said, asking not to be identified discussing private ...

Bloomberg European Central Bank (ECB) President Christine Lagarde called the prospect of an interest-rate increase next year unlikely, but said she’d quickly take action to combat elevated inflation should it become necessary. “When the conditions of our forward guidance are satisfied, we will not hesitate to act,” Lagarde told Reuters in a webcast interview. Her remarks come just days after ...

Bloomberg China tech shares tumbled on Monday, with a key gauge poised to close at its lowest level since launch last year as concerns mount over how many more companies could withdraw from American exchanges. The Hang Seng Tech Index, a gauge of mostly Chinese tech giants traded in Hong Kong, saw losses deepen to as much as 3.6% in ...

Bloomberg Emerging-market traders are taking the once-bitten, twice-shy approach with Southeast Asia and omicron, dumping shares from the region that was most impacted when the delta variant arrived. The MSCI AC Asean Index has fallen about 4% since US Thanksgiving — when omicron first made its presence known in markets — underperforming the near 2% decline in Latin American shares ...

Abu Dhabi / WAM Borouge, a leading petrochemical company providing innovative, value-creating polyolefin solutions, announced on Sunday the award of the Engineering, Procurement and Construction (EPC) contracts for the world-scale fourth expansion of its manufacturing complex in Ruwais, Abu Dhabi (Borouge 4). Adnoc and Borealis AG signed a strategic partnership that confirms a $6.2 billion (AED22 billion) investment agreement to ...