Bloomberg Bank of Ireland group will cut its branch network by about a third as the pandemic drove customers online and further away from its offices. The lender will shut 88 of its 257 branches in Ireland and 15 of 28 outlets in Northern Ireland, it said in Dublin on Monday. Bank of Ireland shares rise as much as 4.4% ...

Bloomberg In the showdown between traders and central bankers over rising bond yields, the Bank of England (BOE) is aligned more with the relaxed views of the US Federal Reserve than peers in Asia and Europe that are trying to rein in markets. Addressing the topic for the first time late last week, BOE policy makers echoed Fed officials in ...

Bloomberg The Philippine peso has been under siege from rising Treasury yields and buoyant crude prices. But technicals may offer some support. The peso slumped to its lowest level in six months last week following an extension of coronavirus-led curbs in the nation and delays in vaccine rollouts. The 10-year Treasury yield’s surge to 1.6% added to the bearish sentiment. ...

Bloomberg Commerzbank AG plans to withdraw from locations including Hong Kong, Luxembourg and Hungary as part of its previously announced restructuring, according to an internal memo seen by Bloomberg. Asia sales activities will be bundled in Singapore and the Dubai branch will continue to operate as a representative office, it said. In South America, the German lender plans to sell ...

Bloomberg Japan’s central bank joined the ranks of equities with puzzling surges in valuation led by retail investors on Monday, as its shares surged by their daily limit. The stock rises 18%, the most since 2005, to 33,000 yen a share. Even experienced investors are often surprised to learn that as well as being Japan’s lender of last resort and ...

Bloomberg US equity futures and global stocks rallied, while Treasuries stabilised in a sign of confidence after last week’s bond market turmoil. S&P 500 futures jumped and European stocks notched broad-based gains. Benchmark Treasury yields fluctuated around 1.40%, while Australia’s 10-year yield slid the most in a year after the central bank doubled down on bond purchases to pacify fixed-income ...

GAZA / WAM Many Palestinians have commended the UAE’s move to provide the coronavirus vaccine to the Gaza Strip, in light of the long-imposed blockade that hinder the delivery of Covid-19 vaccines into the Strip. In a statement to the Emirates News Agency (WAM), Palestinian human rights activist Khalil Abu Shamala said that Gaza Strip is witnessing a deterioration in ...

Bloomberg From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether Opec+ will provide enough of them. A crude glut that piled up during the pandemic is vanishing fast. Global inventories are plunging at the steepest rate in two decades, according to ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi, in his capacity as Chairman of the Supreme Council for Financial and Economic Affairs, has issued a resolution to form the board of directors of Abu Dhabi National Oil Company (Adnoc), chaired by His Highness Sheikh Mohamed bin Zayed Al Nahyan. The board ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) has approved the distribution of 74 percent cash dividends (AED 0.74 per share, implying total cash dividends of AED8.08 billion) for the financial year ended on December 31, 2020, after concluding its General Assembly Meeting (GAM) on Sunday. Registered owners of FAB shares as on March 10, 2021 (i.e. buyers on ...