Bloomberg Bank of Korea (BOK) governor Lee Ju-yeol said he expects faster inflation and economic growth this year, but dismissed the view that the central bank needs to tighten policy early to tackle rising financial risks. In comments, Lee pointed to improving exports and investment, along with an extra budget pending parliamentary approval, as factors likely to drive economic growth ...

Bloomberg With confidence growing that a recovery is just around the corner in the UK, divisions are hardening at the Bank of England (BOE) over how the economy will unfold. Those splits were on display in a series of appearances by members of the Monetary Policy Committee. They pit BOE Chief Economist Andy Haldane, who believes Britain is set for ...

Bloomberg DBS Group Holdings Ltd is set to join UBS Group AG and other global banks giving up office space in pricey Hong Kong with so many staff still working from home. DBS is surrendering some floors in Swire Properties Ltd.’s One Island East tower in Quarry Bay. The lender will release two of the eight floors it currently occupies. ...

Bloomberg Goldman Sachs Group Inc. liquidated $10.5 billion worth of stocks in block trades, part of an extraordinary spree of selling that erased $35 billion from the values of bellwether stocks ranging from Chinese technology giants to US media conglomerates. The Wall Street bank sold $6.6 billion worth of shares of Baidu Inc., Tencent Music Entertainment Group and Vipshop Holdings ...

Bloomberg There are superlatives aplenty for the fierce comeback of Asia’s value stocks this quarter: They’re set to trounce growth peers by the most in two decades. Finance shares bested all other sectors. Last year’s abandoned market, Singapore, is now an investor darling. Even as some pockets no longer look cheap, value-focused investors say money can still be made from ...

Abu Dhabi / WAM China wants to work with the UAE to expedite joint production of Covid-19 vaccines to make it available and affordable to all, Beijing’s top diplomat told Emirates News Agency (WAM). The joint efforts can also explore developing multilateral cooperation to fight the pandemic, especially with Middle Eastern and African countries, and establish an international mechanism to ...

Bloomberg Oil in New York barely nudged this week despite whipsawing over several days, as renewed lockdowns in some regions blunted near-term demand outlooks and muted the impact of a standstill at the Suez. West Texas Intermediate futures fall less than 1% to close the week at $60.97, while Brent crude just barely eked out a gain, snapping a streak ...

Bloomberg A quarrel over allegations of human-rights abuses in China worsened as Beijing announced retaliatory sanctions on individuals in US and Canada and corporate fallout spread. Tensions have flared over reports of forced labour being used to harvest cotton in China’s western province of Xinjiang, accusations that Beijing routinely dismisses as politically motivated lies. On Saturday, China’s Foreign Ministry announced ...

WASHINGTON / WAM The United States strongly condemned the attacks against Saudi Arabia that struck an oil facility in Jazan. The actions by the Houthis are a clear provocation meant to perpetuate the conflict, Ned Price, Department Spokesperson said in a press statement. “This is the latest in a series of Houthi attempts to disrupt global energy supplies and threatens ...

Sharjah / WAM Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber, received Avni Arifi, ambassador of Kosovo to the UAE, to discuss means of strengthening the economic, commercial, and investment relations between the UAE and Kosovo. Held in the presence of Raghda Hamad Taryam, Board Member, Mohammed Ahmed Amin Al Awadi, Director-General of the SCCI, and a number of ...