Bloomberg LGT, a private bank owned by the Princely House of Liechtenstein, plans to double staff in Japan as it joins global rivals targeting $17 trillion of household wealth in the Asian country. LGT Wealth Management Trust Inc, which kicked off services in Japan last month, wants to build a workforce of 70 to 80 over the coming three years, ...

Bloomberg One of the biggest risks banks face when it comes to cryptocurrencies is being left out of the market altogether. That’s the view from Commonwealth Bank of Australia (CBA) Chief Executive Officer Matt Comyn, who says although the digital assets are “very volatile and speculative”, banks need to be involved in the adoption of technology underpinning crypto and the ...

Bloomberg One exchange-traded fund (ETF) shows how investors are increasing bets on a rebound in Chinese property junk bonds. Surging inflows have lifted total assets of the iShares USD Asia High Yield Bond Index ETF to $1.87 billion from $383 million at the end of August, an increase of 388%. In October alone, the fund attracted a record $773 million. ...

Bloomberg Investors are running away from companies that stand to benefit from a return to normalcy as Covid-19 cases mount in the US and the virus wreaks havoc in Europe. Cruise ship operators Carnival Corp, Royal Caribbean Cruises Ltd. and Norwegian Cruise Lines Holdings Ltd each closed down more than 2% as investors piled into less risky assets. The S&P ...

Bloomberg A less volatile year is ahead for markets, should a forecast by UBS Global Wealth Management’s Nadia Lovell play out. “Next year, we think financial markets will discover what normal looks like from a growth and an inflation standpoint,” the firm’s senior US equity strategist said in an interview on Bloomberg TV’s Surveillance. “In that environment, the S&P can ...

ABU DHABI / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court and the Chairman of the Abu Dhabi Early Childhood Authority (ECA) emphasised that the UAE is dealing with children’s issues through an integrated system, at the legislative, educational, cultural and health levels. His Highness Sheikh Theyab indicated that ...

ABU DHABI / WAM The United Arab Emirates has submitted three proposals to the International Maritime Organisation (IMO) that support the reforms undertaken by IMO regarding the development and improvement of the work system. The reforms were introduced during the meetings of the IMO Council, where the UAE has a Category (B) membership. Through this move, the country hopes to ...

Bloomberg Oil logged its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market. West Texas Intermediate for January delivery tumbled 3.2%, while the expiring December contract lost 3.7%. Europe’s Brent skidded 2.9%. The wave of infections in Europe is growing, once ...

Bloomberg Global initial public offerings (IPOs) have smashed their previous record this year, propelled by a blank-check boom and companies cashing in on high valuations. With six weeks to go, about 2,850 businesses and special purpose acquisition (SPAC) companies have raised more than $600 billion in IPOs, leaving the records for both deal count and proceeds reached in 2007 in ...

DUBAI / WAM Emirates Post, UAE’s official postal operator and leading express provider, announced that it has partnered with Enoc Group to enhance customer experience in its last-mile delivery services in line with its leading drive to support the growth in logistics and e-commerce in the UAE. Zoom, a leading home-grown convenience store chain owned by Enoc Group, has become ...