Bloomberg Malaysia will hold its first state-wide snap election under Prime Minister Ismail Sabri Yaakob’s leadership on November 20, according to the Election Commission. Nomination day for the Malacca state polls is set for November 8, while early voting will be held on November 16, the commission said on Monday. The polls set the stage for Ismail’s first popularity test ...

Bloomberg Goldman Sachs Group Inc economists say they no longer expect China to cut the amount of cash banks must hold in reserve this year after the central bank pledged to keep overall liquidity conditions relatively stable. The probability of a cut in the reserve requirement ratio is lowered, and the People’s Bank of China (PBOC) might rely on open ...

Bloomberg The European Central Bank (ECB) said lenders in the region will have to estimate the risk they could face from climate change in both their lending and trading operations when they undergo a stress test next year. Banks will have to predict how their balance sheets will evolve over 30 years as well as any related losses they could ...

Bloomberg UK traders ramped up bets on higher interest rates after a hawkish signal from Bank of England (BOE) Governor Andrew Bailey, putting two-year yields on course for the biggest increase in more than six years. Bailey said the central bank will “have to act” to curb inflationary forces and warned that higher energy costs mean price pressures will linger. ...

Bloomberg Bank of America (BofA) Corp’s largest philanthropic initiative is reaching into new neighbourhoods with programs dedicated to community building and leadership training. The company gave another $22.1 million to its Neighborhood Builders and Champions programs that support nonprofits, according to a statement. Since 2004, the bank has invested more than $285 million through the programs, which have served 92 ...

Bloomberg MicroStrategy Inc appears to be one of the bigger beneficiaries from the euphoria surrounding the likely launch of Bitcoin ETFs, with the overall value of the company’s holding of the cryptocurrency doubling. The enterprise software firm held approximately 114,042 Bitcoin as of September 12, acquired at an aggregate purchase price of $3.16 billion and an average price of $27,713 ...

Bloomberg As an example of why investment banks should listen to their risk managers, CS Venkatakrishnan’s experience at JPMorgan Chase & Co is hard to top. Back in 2012, just weeks into a senior risk job at the Wall Street giant, his team flagged the potential for $6.3 billion of losses from a murky derivatives trade in London. The analysis ...

Bloomberg Global bond yields rose and most stocks fell on Monday as surging energy prices cemented worries about inflation and reinforced bets on policy tightening. Consumer and retail shares led declines in Europe’s Stoxx 600, with luxury companies slipping after publication of a Chinese presidential speech advancing tax legislation. US futures fell after the S&P 500 chalked its best week ...

Bloomberg China’s 10-year bond yield rose to the highest in three months as comments from central bank officials prompted traders to roll back some policy easing bets. The yield on China’s 10-year bond rose as high as 3.05%, crossing the 3% level for the first time since early July. Bond futures fell by the most in two months. Sun Guofeng, ...

NEW YORK / WAM The UAE underscored the importance of promoting and embracing peaceful co-existence and tolerance to advance societies enriched by diversity and peace at the UN Security Council. In a statement submitted for the body’s open debate on peacebuilding and sustaining peace presided over by Kenya’s President Uhuru Kenyatta, the UAE outlined how it has launched initiatives aimed ...