April, 2022

• 20 April

  Indonesia holds key rate to support economic recovery

  

  Bloomberg Indonesia’s central bank kept its benchmark interest rate unchanged to support the economy’s recovery, while downgrading its growth outlook and saying it will keep a watch on price pressures fuelled by the Russia-Ukraine conflict. Bank Indonesia held the seven-day reverse repurchase rate at a record low 3.5% as expected by all 29 economists in a Bloomberg survey. The key ...

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• 20 April

  Chinese banks hold their lending rates for a third month

  

    Bloomberg Chinese banks maintained their lending rates for a third month, with the central bank’s cautious easing measures and a weaker yuan reducing the scope for further reductions in borrowing costs. The one-year loan prime rate was held steady at 3.7%, the People’s Bank of China (PBOC) said on Wednesday. A slight majority of 9 of the 16 economists ...

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• 20 April

  Goldman Sachs boosts hiring of dealmakers in Singapore

  

  Bloomberg Goldman Sachs Group Inc is hiring senior investment bankers in Singapore, according to people with knowledge of the matter, as the US lender looks to bolster its dealmaking capabilities in Southeast Asia. The firm has hired Chua Hui Yin from JPMorgan Chase & Co. to cover corporate finance and execution, as well as Oversea-Chinese Banking Corp.’s Andrew Teo for ...

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• 20 April

  Deutsche completes first step in major IT systems overhaul

  

    Bloomberg Deutsche Bank AG is making headway in its effort to cut hundreds of millions of euros in costs by retiring the legacy IT systems linked to its Postbank unit. The lender “has successfully completed the first step” in a large-scale transformation of the IT systems in its retail business, it said in a statement on Wednesday. The project ...

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• 20 April

  BOJ resumes bond buying as yields gain

    Bloomberg The Bank of Japan (BOJ) reiterated its ultra-loose monetary policy with four days of unscheduled bond buying as the widening interest rate gap with the U.S. puts upward pressure on bond yields and weakens the yen. The move comes as Japan’s benchmark 10-year yield stayed elevated at the 0.25% upper limit of the BOJ’s tolerated trading band despite ...

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• 20 April

  Singapore dollar rallies

    Bloomberg Singapore’s central bank further tightened monetary settings and raised its inflation forecast, sending currency higher, as it seeks to fight cost pressures that threaten recovery from pandemic. The Monetary Authority of Singapore, which uses exchange rates as its main policy tool, said that it’s taking steps to strengthen the local dollar, which will help slow inflation momentum as ...

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• 20 April

  European stocks rise as traders weigh flurry of earnings

  

  Bloomberg European stocks gained as a flurry of corporate earnings reassured investors that profits can overcome economic hurdles. The Stoxx Europe 600 climbed 0.4% in London. Banking and technology shares soared, tracking a rally in US stocks. Miners underperformed as metals fall. ASML Holding NV advanced after saying demand for its chip-making machines outstripped supply in the second quarter. Danone ...

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• 20 April

  Netflix shares to lose $40b in value after subscriber shock

  

  Bloomberg Netflix Inc shares are on course to lose about $40 billion in value on Wednesday after the streaming giant reported its first customer decline in more than a decade. Shares in the company fell as much as 26% premarket trading, extending its plunge this year to 57%. If the losses hold, Netflix is poised to become the worst-performing stock ...

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• 19 April

  Emissions-heavy steel giant in India plans switch to green debt

  

    Bloomberg India’s JSW Group, which runs emissions-heavy businesses including steel, cement and energy, plans to switch a majority of its bonds to green instruments as the industrial giant seeks access to longer-term borrowings. Raising debt overseas through green and sustainability-linked bond issues will allow the group led by tycoon Sajjan Jindal to almost double its tenure to 10 years, ...

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• 19 April

  Denmark to hike gas output to help Europe wean off Russia supply

  

    Bloomberg Denmark wants to temporarily increase its output of natural gas to help Europe wean itself off Russian energy. The Nordic country, which has pledged to stop production of fossil fuels, will start talks with the companies operating in its part of the North Sea and pledged to speed up administrative processes to allow more production, according to a ...

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