Bloomberg Pakistan has hired banks for a possible foreign-currency bond offering. The government has mandated Deutsche Bank, JPMorgan Chase & Co., Credit Suisse group and Standard Chartered, the people said. The South Asian nation is looking to raise funds after reaching an agreement with the International Monetary Fund on resumption of a $6 billion bailout program that was secured in ...

Bloomberg Hong Kong’s bankers are working around the clock as the region’s companies rush to go public. Initial public offerings (IPO) in the city have already hit almost $11 billion, a close to 500% jump from a year earlier, with video streaming platform Bilibili Inc. and search giant Baidu Inc. among companies preparing multi-billion dollar deals. Digital roadshows and clients ...

Bloomberg Stocks dropped while US futures drifted ahead of a key Federal Reserve meeting at which officials will deliver their outlook for the economy amid a budding recovery that risks stoking inflation. Treasury yields edged higher. The Stoxx Europe 600 Index slipped as declines in retail shares outweighed gains for automakers. BMW AG shares rose 4% after the company forecast ...

Bloomberg Chinese search engine Baidu Inc. is on track to raise about HK$23.9 billion ($3.1 billion) in its Hong Kong share sale, the latest in a string of blockbuster equity offerings in the financial hub, people with knowledge of the matter said. The company told prospective investors it plans to price the deal at HK$252 per share, according to the ...

Bloomberg As rising US Treasury yields and potential credit tightening in China expose Chinese stock traders to wild market fluctuations, their bond peers are enjoying a period of relative calm. A measure of 30-day volatility in Chinese shares has surged to its highest since August as the benchmark CSI 300 Index struggles to recover from a rout that’s seen it ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has declared 2021 “The Year 50”, in the UAE, as the nation celebrates its milestone Golden Jubilee. “The Year 50” officially starts on April 6, 2021 and lasts until March 31, 2022. The declaration is coupled with the announcement of year-long initiatives, activities, and grand celebrations that ...

DUBAI / WAM Emirates Global Aluminium (EGA) on Tuesday reported adjusted earnings before interest, taxes, depreciation and amortisation (adjusted Ebitda) of AED4.1 billion ($1.13 billion) for 2020, a 63 percent increase over 2019. EGA’s smelting Ebidtda margin for 2020 was 23 percent (2019: 14 percent), ranking amongst the best globally, the company said on Tuesday. EGA flexed its aluminium product ...

Abu Dhabi / WAM The UAE gross bank assets, including bankers’ acceptances, rallied to AED3.172 trillion by the end of January 2021, figures by the central bank of the UAE have shown. Gross credit in banking system likewise grew from AED1.779 trillion by the end of December 2020 to AED1.779.2 trillion in January, with total bank deposits going up to ...

NEW DELHI / WAM The largest number of Indians returning to the jobs they had left abroad last year due to disruptions caused by the coronavirus pandemic has been to the Gulf, India’s External Affairs Minister, Dr S Jaishankar, told Parliament on Monday. “The focus of our efforts in the last few months has now shifted to Indians going back ...

ABU DHABi / WAM Upbeat sentiments continued for the third day straight at UAE financial markets amid increased cash flows that saw the twin bourses of Abu Dhabi and Dubai gaining a combined AED17.4 billion since Sunday. The two bourses on Tuesday posted gains of around AED6.6 billion in market cap, with ADX closing higher around 0.72 percent than the ...