Bloomberg China’s central bank will take measures to prevent systemic financial risks from building in the economy as the recovery takes hold, Deputy Governor Chen Yulu said. Laying out priorities for the next five years, Chen said the People’s Bank of China will improve its macro-prudential assessment framework and strengthen supervision of “systemically important” institutions, businesses and infrastructure. “The priority ...

Bloomberg Nine Polish banks are coalescing around a proposal for out-of-court settlements with holders of Swiss franc mortgages, according to PKO Bank Polski SA, the nation’s biggest lender. State-controlled PKO has spearheaded efforts to work out a joint solution to around $31 billion in mostly Swiss franc loans, based on a proposal by the country’s financial regulator and backed by ...

Bloomberg DBS Group Holdings Ltd.’s Chief Executive Officer Piyush Gupta said employees need to sometimes work from the office to develop a firm’s identity. “You need to build the soul of the company, and it’s very hard to do that if everybody is always working from somewhere else,” Gupta, who runs Southeast Asia’s largest bank, said in an interview with ...

Bloomberg Wells Fargo & Co. joined rivals in pledging to achieve net-zero greenhouse gas emissions in the coming decades. The fourth-largest US lender said it aims to reach that goal, which includes its financed emissions, by 2050. It will also deploy $500 billion in financing to sustainable businesses and projects by 2030. “Climate change is one of the most urgent ...

Bloomberg US stock futures climbed on Tuesday, while government bonds across the globe rallied before US debt auctions that have the potential to spark volatility. The dollar falls. Contracts on the tech-heavy Nasdaq 100 climbed 1.8%, signalling a rebound after an overnight slump in technology stocks amid a rotation to value. European shares opened modestly lower, dragged down by miners. ...

Bloomberg The bearish mood prevailing in China’s stock market is proving a match even for state-backed funds, and casting a cloud over the Communist Party’s biggest annual political event. The CSI 300 Index closed about 2.2% lower despite evidence that state-backed funds had intervened to shore up the market in morning trading. The news earlier helped the gauge erase losses ...

ABU DHABI / WAM The UAE has strongly denounced the Iranian-backed terrorist Houthi militias for attempting to target one of the petroleum tank farms at the Ras Tanura Port in the Eastern Region and Saudi Aramco’s facilities in Dhahran with a drone and ballistic missile, which were intercepted by the Coalition Forces. In a statement by Ministry of Foreign Affairs ...

ABU DHABI / WAM ADQ, a holding company with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, signed an agreement to merge its healthcare support services entities, Rafed and Union71, with Pure Health, an integrated healthcare solutions provider in the UAE. Under the terms of the agreement, ADQ will transfer its ownership of Rafed ...

Abu Dhabi / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, has received Mu’izz bin Abdul Sattar Binameem, Ambassador of Tunisia to the UAE, to discuss ways of promoting bilateral ties between the UAE and Tunisia. Al Bowardi welcomed the Tunisian Ambassador, wishing him success in carrying out his duties in bolstering the bonds of mutual ...

Dubai / Emirates Business dnata, one of the world’s largest air services providers, has achieved a special cargo milestone in Dubai. Since March last year, the company’s highly-trained teams have handled over 5,000 cargo-in-cabin flights, safely moving 50,000 tons of shipments at Dubai International airport (DXB). In response to the strong air cargo market demand for the rapid, reliable and ...