June, 2022

• 7 June

  Amazon’s stock split delivers more than bargained for

  

  Bloomberg Stock splits were all the rage early this year as indexes hovered near record highs, with companies from Amazon.com Inc. to Alphabet Inc announcing them to make their share prices more alluring to individual investors. A few months on, the market has taken care of the problem. Amazon is among companies whose stocks have tumbled since the moves were …

  Read More »
• 7 June

  Ryanair orders South Africans to take special quiz to enter UK

    Bloomberg Ryanair Holdings Plc is ordering South Africans traveling to the UK to complete a list of questions in Afrikaans to prove their identity — only one of 11 official languages spoken in the country. Europe’s largest low-cost airline imposed the measure to prevent the use of fraudulent passports, the company said in a statement. “If they are unable …

  Read More »
• 7 June

  Garuda eyes rights issue after creditors’ deal

    Bloomberg PT Garuda Indonesia plans to raise money via a two-stage rights issue, as the indebted airline looks to salvage itself. After the carrier and its creditors come to agreement on its debt, the Indonesian government will inject 7.5 trillion rupiah ($520 million) via a first rights issue, Deputy Minister of State-Owned Enterprises Kartika Wirjoatmodjo told a parliamentary hearing. …

  Read More »
• 7 June

  ECB to herald new policy era with path to fight inflation

  

    Bloomberg The European Central Bank (ECB) will begin a new era of monetary policy this week as officials complete their pivot to confront the threat of inflation running out of control. Armed with new forecasts and with prices rising at a record pace, President Christine Lagarde and her colleagues will end trillions of euros of asset purchases and cement …

  Read More »
• 7 June

  Goldman returns to ESG debt market with $700mn deal

  

    Bloomberg Goldman Sachs Group Inc. raised $700 million in the US investment-grade market to help fund environmental and social initiatives, its first benchmark sustainable-bond sale in over a year. The New York-based lender sold a sustainability bond maturing in five years, according to a person with knowledge of the matter. The self-led deal yields 1.35 percentage points above Treasuries, …

  Read More »
• 7 June

  Philippine central bank may cut reserve ratio: Medalla

  

    Bloomberg Incoming Philippine central bank governor Felipe Medalla said that the lenders’ reserve requirement ratio may be lowered this year to counter the impact of stimulus withdrawal. The plan is to cut the ratio 2 percentage points to 10% about a month or two before a rule that allowed lending to small businesses be counted as compliance to the …

  Read More »
• 7 June

  Uganda increases rates for first time since 2018

    Bloomberg Uganda increased interest rates for the first time since October 2018 to counter accelerating inflation and support the weakening shilling. The monetary policy committee raised the benchmark rate to 7.5% from 6.5%, Deputy Governor Michael Atingi-Ego told reporters. The central bank cut its economic growth forecast for Uganda this year to a range of 4.5% to 5%, compared …

  Read More »
• 7 June

  Alibaba, US-listed China stocks soar as crackdown fears ease

  

  Bloomberg US-listed China stocks surged to the highest since early April on increased speculation that a year-long government crackdown on the technology industry is easing. While the S&P 500 Index struggled to mount much of an advance, the Nasdaq Golden Dragon Index closed 5.4% higher after surging as much as 8.3%, as Chinese regulators were said to be close to …

  Read More »
• 7 June

  Crypto-linked ETFs 2022’s biggest losers with 60% drawdowns

  

    Bloomberg Crypto-flavoured exchange-traded funds are cluttering the industry’s worst-performing list so far this year. The six worst-performing, non-leveraged ETFs in the $6.6 trillion arena in 2022 are all crypto-linked equity funds, according to data compiled by Bloomberg. The $63 million Global X Blockchain ETF (ticker BKCH) is the biggest loser with a year-to-date drop of 64%. While crypto-linked ETFs …

  Read More »
• 7 June

  Emirates, Airlink activate codeshare partnership

  

  Dubai / WAM Emirates and Airlink officially activated their codeshare partnership, making it easier for customers to create their ideal itinerary and benefit from seamless connections and a single booking reference across eight domestic South African cities via the airline’s gateways Johannesburg, Cape Town and Durban. Emirates customers can now book a wide range of additional flights, including eight destinations …

  Read More »