February, 2023

• 7 February

  BOE seeks more women to diversify all-male top team

  

  Bloomberg The Bank of England (BOE) is seeking more women in management roles to diversify its leadership from the all-male team it currently has. Deputy Governor Dave Ramsden said 35% of senior managers are female at the moment, up from 20% in 2014. The central bank is targeting up to 44% by 2028. The BOE is currently led by Governor ...

  Read More »
• 7 February

  China banks offer cheap consumer loans as Xi urges more spending

  

    Bloomberg Chinese banks are touting a wide variety of retail lending products as authorities need a pickup in consumer spending to create a more solid foundation for the world’s second largest economy. Lenders including Bank of China Ltd. and China Construction Bank Corp. are offering preferential interest rates and incentives such as gift cards on e-commerce platforms to lure ...

  Read More »
• 7 February

  Nomura’s Japan staff to get bigger pay increases

  

    Bloomberg Nomura Holdings will give its employees in Japan bigger pay raises starting in April, citing intensifying competition for talent and faster inflation. Employees excluding executives will get a slightly larger raise than the roughly 3% average of the past few years, Japan’s largest brokerage said in a statement on Tuesday. A growing number of Japanese firms have signalled ...

  Read More »
• 7 February

  Japan stepped into forex market twice in October

    Bloomberg Japan stepped into the foreign exchange market three times in total last year, according to a fuller picture of the government’s latest intervention strategy to counter the yen’s historic fall. The Ministry of Finance conducted currency interventions on October 21 and 24, according to the daily operational report for the quarter ended December released by the ministry on ...

  Read More »
• 7 February

  Morgan Stanley appoints two new senior investment bankers in S’pore

    Bloomberg Morgan Stanley has appointed two senior investment bankers in Singapore to new roles as it beefs up its Southeast Asia franchise. Ronald Ong has been named chairman of Southeast Asia, according to a memo seen by Bloomberg News. David Aronovitch becomes chief executive officer of the region, overseeing businesses including investment banking, the memo shows. A spokesperson for ...

  Read More »
• 7 February

  Ghana plans to securitise $3.3 billion in central bank loans

  

    Bloomberg Ghana plans to convert an estimated 40 billion cedis ($3.3 billion) of loans owed to its central bank into bonds, making it the single biggest holder of domestic government securities and exposing it to an ongoing debt restructuring, according to people familiar with the matter. The bonds, due to be issued by the finance ministry, will also cover ...

  Read More »
• 7 February

  Adani stocks rise after 8-day rout wiped out $118 billion

  

  Bloomberg Adani Enterprises Ltd. surged, leading gains in the group’s stocks after the conglomerate’s founders pre-paid some debt and traders covered short positions. The flagship’s stock rallied as much as 25%, while three of its peers jumped by their 5% limit in early trading. That helped trim the slump in the group’s market capitalisation to $112 billion since US-based Hindenburg ...

  Read More »
• 7 February

  Stocks advance, US futures edge higher

  

    Bloomberg Stocks advanced and US equity futures inched higher ahead of commentary due later from Federal Reserve Chair Jerome Powell that may shape views on the central bank’s rate path. Energy shares led gains in Europe after oil major BP Plc boosted shareholder returns and reported record profit. Futures on the S&P 500 and Nasdaq 100 contracts were modestly ...

  Read More »
• 7 February

  Marrybrown opens outlet at Dubai International Airport Terminal 1

  

    Dubai / Gulf Time Marrybrown, one of the leading halal-quick service restaurants in UAE, opened its Dubai International Airport Terminal 1 outlet. Hadi Ebrahim Al Abbas, Chief Communications Officer – Al Abbas Group said that the opening of the outlet is a momentous occasion and a testimony to the patronage that Marrybrown has in this region. “We have been ...

  Read More »
• 7 February

  Twin quakes kill thousands in Turkey, Syria

  

  Bloomberg Some of the most powerful Middle East earthquakes in decades killed almost 2,000 people in Turkey and Syria and forced a halt in crude oil flows to a regional export terminal. A pre-dawn earthquake with a magnitude of 7.7 hit the Turkish city of Gaziantep on Monday morning and a second measured at 7.6 struck nearby just nine hours ...

  Read More »