January, 2023

• 17 January

  Turky’s Erdogan keeps the world guessing on Nato expansion

  

  Bloomberg Six months since Turkey agreed to Nato allies inviting Sweden and Finland to join the alliance, the expansion has stalled as Ankara holds out on ratifying the applications. Fresh tensions flared last week after protesters in Stockholm affiliated with Kurdish movements hanged an effigy of President Recep Tayyip Erdogan, prompting Turkey to put yet more pressure on Sweden to ...

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• 17 January

  German defense minister Lambrecht quits

  

  Bloomberg German Defense Minister Christine Lambrecht stepped down following a series of missteps and days of speculation over her future, a blow to Chancellor Olaf Scholz’s government as it weighs crucial decisions on arming Ukraine. Lambrecht asked to be relieved of her cabinet post, blaming intense media reporting as an unacceptable distraction, and Scholz accepted the request and respects the ...

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• 17 January

  UK, EU vow to keep pushing for Brexit deal on Northern Ireland

    Bloomberg The UK and European Union pledged to continue working toward a post-Brexit deal for Northern Ireland, but stopped short of formally announcing an intense final phase of negotiations. Foreign Secretary James Cleverly and European Commission Vice-President Maros Sefcovic said in a joint statement Monday that they need to find “solutions together to tackle comprehensively the real-life concerns of ...

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• 17 January

  China’s PBOC adds less cash than expected before lunar holidays

  

    Bloomberg China’s central bank added less cash than expected into the banking system via policy loans while keeping the rate unchanged this month even with funding demand on the rise into Lunar New Year holidays. The People’s Bank of China (PBOC) injected a net 79 billion yuan ($11.8 billion) via its one-year medium-term lending facility this month, less than the ...

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• 17 January

  ‘UBS doesn’t plan to buy US firms, Credit Suisse’

  

    Bloomberg UBS Group AG doesn’t plan acquisitions in the US “in the foreseeable future” and has no intention to buy Credit Suisse Group AG, the bank’s chairman Colm Kelleher told Swiss newspaper Neue Zuercher Zeitung. UBS hasn’t yet realised its full potential in the US, Kelleher said in an interview. “We need to get our wealth management business up ...

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• 16 January

  US banks see consumers piling on debt, boosting bottom lines

  

    Bloomberg US banks see tougher times ahead for consumers. That may not be so bad for the banks. The heads of the nation’s four largest lenders — JPMorgan Chase &, Bank of America Corp., Wells Fargo & Co. and Citigroup — took turns in calls describing customers who are drawing down savings, piling up debt on credit cards and ...

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• 16 January

  Yen option cost advances to three-year high

      Bloomberg The cost to hedge against volatility in dollar-yen over the coming week has risen to the highest level in almost three years as traders brace for any more Bank of Japan (BOJ) surprises on Wednesday. By raising the cost of the contracts, option sellers are trying to reduce the expense of being caught off guard again after ...

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• 16 January

  Equity rally declines amid unease about macro risks

  

    Bloomberg Global equities faltered after their best start to a year in a generation as investors assessed whether the rally has gone too far given the outlook for the inflation, growth and earnings. The MSCI ACWI Index slipped for the first time in seven days after posting the biggest advance for the first two weeks in data going back ...

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• 16 January

  FOMO stirs again in Bitcoin’s best start since before pandemic

  

    Bloomberg Bitcoin has bolted out of January’s starting gates with a climb of more than 28%, turning up the heat on bears who anticipated more challenges for riskier investments after sharp selloffs in 2022. The token’s advance so far is the best for the opening month of a year since a 31% rally in 2020 before the pandemic hit. ...

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• 16 January

  UAE launches $43.2b worth of eco-friendly energy projects

  

  Abu Dhabi / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said the UAE has launched 11 environmentally-friendly energy projects worth AED159 billion ($43.29 billion) in 2022. In an interview with the Emirates News Agency (WAM), Al Mazrouei stated that the UAE’s clean energy production in 2021 totalled 7,035.75 megawatts (MW), underscoring the country’s pioneering efforts in the ...

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