Bloomberg The Reserve Bank of India’s (RBI) policy decision this week is a tricky one to call, with economists split over whether Governor Shaktikanta Das will lower interest rates again to support a fragile economy and banking sector in the face of above-target inflation. Of the 44 economists surveyed by Bloomberg, 22 expect a 25 basis-point rate cut on Thursday, ...

Bloomberg Commerzbank AG abandoned its goal for a full-year profit after losses tied to the failure of Wirecard AG added to surging costs for bad loans, underscoring the challenges as the lender seeks to emerge from a leadership crisis. The outlook revision was driven by a single case that cost the bank 175 million euros last quarter, it said in ...

Bloomberg European stocks climbed to a one-week high and US futures rose as investors focused on US-China trade discussions and American lawmakers making progress on an economic aid package. The Stoxx Europe 600 Index posted broad-based gains, with travel companies, commodity producers and retailers leading the charge. Bank of Ireland Group Plc rallied as the lender’s chief executive officer suggested ...

Bloomberg For investors riding a rally in India’s wireless carriers, the best returns are coming from an operator that’s warned it may collapse without help from the government. Although Vodafone Idea Ltd. hasn’t made a profit since 2017 and ended last fiscal year with a record $10 billion loss, its shares have more than doubled in the past three months. ...

Bloomberg Bank of Ireland Group Plc shares rose the most in almost two months, as the lender’s CEO suggested the economy is proving more resilient than expected in face of coronavirus. The company’s shares rose as much as 11% in Dublin to 2.04 euros, the highest level since June 8, giving Ireland’s biggest lender a market value of 2.2 billion ...

WASHINGTON / WAM Yousef Al Otaiba, UAE Ambassador to the US, has said that the start-up of Unit 1 at the Barakah Nuclear Energy Plant is an outstanding milestone in the history of fruitful cooperation between the UAE and the US in the peaceful nuclear energy field. In his statement following the recent successful startup of Unit 1 of the ...

ABU DHABI / WAM Adnoc Logistics and Services, the shipping and maritime logistics subsidiary of the Abu Dhabi National Oil Company (Adnoc) announced on Tuesday the formation of a new strategic joint venture with Wanhua Chemical Group. The new company named AW Shipping Limited is incorporated in Abu Dhabi Global Market. This strategic agreement further strengthens the collaboration between Adnoc ...

Abu Dhabi / WAM The Abu Dhabi Emergency Crisis and Disasters Committee for Covid-19 pandemic, in collaboration with the Department of Health-Abu Dhabi, announced that there has been a major decrease in prevalence of coronavirus in Abu Dhabi. “The initiatives, along with precautionary and preventative measures, have resulted in curbing the spread of the virus, with the percentage of confirmed ...

ABU DHABI / WAM Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy (DoE) said that encouraging investment in the energy sector is one of the department’s strategic priorities. In an interview with the Emirates News Agency (WAM) Al Marar said that the department has adopted a series of measures during the coronavirus crisis that has ensured ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) announced the issuance of the largest-ever Chinese Yuan (CNH) denominated dual-listed Formosa bond globally, with a CNH 3.25bn five-year issuance. Despite the GCC-wide public holiday, FAB was able to attract a high quality international orderbook of more than CNH 3.6 billion, which enabled it to upsize its target issuance from CNH ...