Bloomberg The International Court of Justice (ICJ) rejected Kenya’s territorial claims in a maritime border dispute with Somalia, in a ruling that may inflame tensions between the nations eyeing the area’s oil and gas reserves. The ruling read by Judge Joan Donoghue was largely in favour of Somalia, with the Hague-based court saying that there isn’t a boundary agreement between ...

Bloomberg If Russian journalist Dmitry Muratov thought winning the Nobel Peace Prize may protect him against a sweeping Kremlin crackdown on media it considers “foreign agents,” then President Vladimir Putin offered a sobering warning on Wednesday. “If he doesn’t violate Russian law, and if he doesn’t give a reason to be declared a foreign agent, then he won’t be,” Putin ...

Bloomberg The European Union will offer a new package of concessions to the UK that would ease trade barriers in Northern Ireland, as the two sides prepare for a new round of contentious Brexit negotiations. Maros Sefcovic, the EU’s chief Brexit negotiator, was expected to offer to cut as much as 50% of the customs checks in Northern Ireland and ...

Bloomberg German Chancellor Angela Merkel and Chinese President Xi Jinping discussed the EU’s stalled investment accord with China, human rights and other issues in a “farewell” bilateral talk. Preparation for the G-20 summit, fighting climate change and grappling with the global pandemic were also discussed in the video conference on Wednesday, Martina Fietz, Merkel’s deputy spokeswoman, said in a statement ...

Bloomberg Bank of Korea (BOK) Governor Lee Ju-yeol gave his strongest signal yet that a rate hike is likely in the works for November as he flagged worsening financial imbalances, growing inflationary pressures and solid recovery momentum. The central bank’s decision to hold rates at 0.75% was opposed by two members who called for a back-to-back increase following August’s liftoff. Dissension ...

Bloomberg Bank of America Corp (BofA) is giving businesses new ways to transfer money to their customers. The new system, known as Recipient Select, allows consumers to choose among various options for receiving refunds, rebates and other payouts while increasing the speed and efficiency for transferring the funds, Bank of America said in a statement. The digital portal, launched this ...

Bloomberg NatWest Group Plc said it will lend 100 billion pounds ($136 billion) to customers cutting carbon emissions by the end of 2025. The British bank said it will focus on projects that help the UK move towards a net-zero economy with products including sustainability bonds and lending to firms that can show they are mostly low-carbon. NatWest has previously ...

Bloomberg Societe Generale SA expects to cut as many as 3,700 jobs as part of a plan announced last year to merge its domestic retail operations and boost profitability. The reductions will be carried out between 2023 and 2025 and will stem from natural attrition, estimated at 1,500 per year, the bank said in a statement. “The merger will not ...

Bloomberg Singapore’s central bankers are expected to signal a potential tightening of monetary policy next year, while holding steady for now, amid rising inflation risks from supply-chain disruptions and surging energy prices. The Monetary Authority of Singapore (MAS), which uses a currency band as its main tool rather than interest rates, will signal a more hawkish tone when it releases ...

Bloomberg The Reserve Bank of India (RBI) in an unprecedented move suspended an audit firm citing compliance failure related to a shadow lender, a sign the watchdog is doubling down on supervision of a still-fragile corner of the nation’s financial system. Haribhakti & Co. will be barred from auditing any regulated financial entity for two years starting April 1, 2022, ...