Classic Layout

Lloyds resumes dividends as profit beats, loan loss charges drop in Q4

Bloomberg Lloyds Banking group Plc beat forecasts with a pretax profit of 792 million pounds ($1.1 billion) in its fourth quarter, helped by a buoyant UK housing market and government support for its borrowers. Britain’s biggest mortgage lender announced a dividend 0.57 pence per share, marking the end of a year without payouts to protect lending during the pandemic. In ...

Read More »

Polish bank wants to end Swiss franc mortgage saga

Bloomberg Poland’s state-controlled PKO Bank Polski SA wants to end the legacy of its Swiss-franc mortgage lending this year, piling pressure on the rest of the industry to follow suit. The country’s biggest bank will seek shareholders’ approval to offer conversion of foreign currency loans to all borrowers once the pilot program it’s running with selected clients is over, Chief ...

Read More »

India’s central bank voices ‘major concerns’ about crypto

Bloomberg The Reserve Bank of India (RBI) is concerned that cryptocurrencies may impact financial stability in Asia’s third-largest economy, a view that could shape looming regulations on the asset that is breaking price-records around the world. The monetary authority has conveyed these “major concerns” to government, Governor Shaktikanta Das said in an interview to CNBC TV-18. Prime Minister Narendra Modi’s ...

Read More »

BOJ looks to show rate cut option is live

Bloomberg The Bank of Japan (BOJ) will probably signal its readiness to lower its negative interest rate by pledging to mitigate any harmful impact such a move would have at a review next month, according to a former BOJ official in charge of monetary policy. “The BOJ likely wants to restore a rate cut as a viable option,” Kazuo Momma ...

Read More »

HK’s first trading tax hike since 1993 pummels stocks

Bloomberg Hong Kong unveiled its first stamp-duty increase on stock trades since 1993, sparking a broad selloff in the $7.6 trillion market and sending shares of the city’s exchange to their biggest plunge in more than five years. The planned trading-tax increase to 0.13% from 0.10% was part of a raft of new measures announced in Hong Kong’s budget that ...

Read More »

Trading on India’s top stock exchange halted by telecom disruption

Bloomberg The National Stock Exchange of India Ltd. (NSE) shut trading in its cash and derivative segments earlier on Wednesday, citing “issues” with telecom links of its two service providers, which it said impacted the system and stopped prices from updating. “We are working on restoring the systems as soon as possible,” a spokesperson for NSE, the world’s biggest derivatives ...

Read More »

UAE leaders chair govt retreat to plan next 50 years

DUBAI / WAM The government retreat to plan the next 50 years, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, began on Tuesday, with the participation of ...

Read More »

Japan-UAE bilateral trade hits AED82.4b in 2020: Minister

ABU DHABI / WAM The UAE is a long-time partner that has supported Japanese economy and society, and economic relations remain robust with $22.4 billion bilateral trade in 2020, a top Japanese official told WAM. “As one of the most significant crude oil suppliers to Japan, the UAE is a very important partner that has supported our economy and society ...

Read More »

Etisalat’s profit up 3.8% to AED9 billion in 2020

ABU DHABI / WAM Etisalat Group announced that its twelve month ending on December 31, 2020, consolidated revenues reached AED51.7 billion, while consolidated net profit after Federal Royalty amounted to AED9 billion, an increase of 3.8 percent compared to last year. The Group’s Board of Directors proposed dividend payout of 40 fils per share for the second half of 2020, ...

Read More »

UAE condemns attack on WFP convoy in Congo

ABU DHABI / WAM The UAE has strongly condemned the cowardly attack that targeted a convoy of the UN World Food Programme (WFP) near Goma, the capital of the North Kivu province in the Democratic Republic of the Congo (DRC). The Italian ambassador to the DRC and two other people were killed during the attack. The Ministry of Foreign Affairs ...

Read More »
Send this to a friend