April, 2023

• 19 April

  Myanmar’s top court to hear Suu Kyi’s appeal against conviction

  

  BLOOMBERG Myanmar’s Supreme Court has agreed to hear appeals by deposed leader Aung San Suu Kyi and former president Win Myint against their conviction on corruption and other charges, paving the way for a review of previous rulings. Suu Kyi, 77, had appealed against seven charges related to the purchase of a helicopter, election fraud and violating the colonial-era Official ...

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• 19 April

  Morgan Stanley Q1 profits fall

  

  BLOOMBERG  Morgan Stanley’s investment bank and its giant wealth unit surpassed analysts’ expectations in the first quarter even as profits fell from a year earlier, dragged down by a dropoff in deal-making and a jump in loan-loss provisions. Net income slid 20% from a year earlier to $2.84 billion amid a slowdown in the trading and banking businesses. The firm’s ...

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• 19 April

  Goldman Sachs hit by further departures in its Asia equities team

  

  BLOOMBERG  Goldman Sachs Group Inc has been hit by additional departures in its Asia equities team, with key exits in Tokyo and Hong Kong to rival banks and hedge funds. Among those that left recently are managing directors Fredrik Grunberger in Hong Kong and Tomiyuki Oji and David Williams in Tokyo, according to people familiar with the matter. Oji is ...

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• 19 April

  Hungary flags pivot to cutting EU’s highest interest rates

  

  BLOOMBERG  Hungary’s central bank unexpectedly signalled its first potential step towards cutting the European Union’s highest key interest rate, with policymakers pointing to an outlook of rapidly slowing inflation. The forint dropped against the euro. Deputy Governor Barnabas Virag caught investors by surprise after months of pushing back against government pressure to lower the 18% key interest rate to aid ...

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• 19 April

  Bitcoin drops again on interest rate fears

  

  BLOOMBERG Bitcoin dropped back below the closely watched $30,000 level amid a wider retreat in the cryptocurrencies, as stubbornly high inflation in the UK fanned fears of higher-for-longer interest rates. The largest token fell 4.5% before paring some of the slide to trade at about $29,175 in London. Ether shed 6% and smaller tokens like Solana and Avalanche suffered steeper declines. ...

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• 19 April

  US equity futures decline as traders assess policy, earnings

  

  BLOOMBERG US equity futures retreated along with European stocks and bond yields rose as traders assessed the latest corporate earnings reports against the backdrop of yet another hot inflation print from one of the world’s major economies. Contracts on the rates-sensitive Nasdaq 100 fell about 0.8%, while those on the S&P 500 were down 0.5%. Morgan Stanley gained in premarket ...

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• 19 April

  Flavourful dishes curated from European rice for Ramadan

  

  DUBAI / GULF TIME Rice has been much more than just a food source for thousands of years, with a rich history that spans back to 2500 BC. Across the Muslim world, rice has been a symbol of tradition and heritage, giving rise to a stunning array of diverse and delicious dishes, from the fragrant Nasi Goreng to the savoury ...

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• 19 April

  President of UAE, Sultan of Oman exchange Eid al-Fitr greetings

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Majesty Sultan Haitham bin Tariq of Oman have exchanged greetings and best wishes on the occasion of the approaching Eid al-Fitr. This came in a phone call on Tuesday, during which the two leaders prayed to God to bestow health, happiness, stability and prosperity ...

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• 19 April

  Fragmenting world economy is risk for central banks: ECB

  

  BLOOMBERG Christine Lagarde warned that changes in the world economy induced by geopolitics pose a challenge to the European Central Bank (ECB) and its peers. “We are witnessing a fragmentation of the global economy into competing blocs, with each bloc trying to pull as much of the rest of the world closer to its respective strategic interests and shared values,” ...

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• 19 April

  BofA first quarter profit beat estimates

  

  BLOOMBERG Bank of America Corp (BofA) first-quarter profit beat estimates after its fixed-income traders delivered a windfall large enough to cover the rising cost of the bank’s souring loans. Revenue from fixed-income, currencies and commodities trading unexpectedly rose almost 30% to $3.4 billion in the first quarter, as clients reacted to changing interest rates, the bank said. That helped the ...

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