January, 2022

• 12 January

  Romania hikes key interest rates by 2%

    Bloomberg Romania raised interest rates less than expected, surprising some investors who have expected the central bank to lift borrowing costs faster to tackle decade-high inflation and catch up with more aggressive rate hikes by its regional peers. The central bank raised borrowing costs by 25 basis points to 2%, a move predicted by five out of 11 economists ...

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• 12 January

  Bank of America drops non-sufficient funds charge

  

    Bloomberg Bank of America Corp (BofA) said it will eliminate charges for non-sufficient funds in its customers’ accounts and reduce overdraft fees, joining a growing number of US lenders scaling back the costs. The non-sufficient funds fees will be eliminated starting next month, and overdraft fees will be reduced to $10 from $35 beginning in May, the Charlotte, North ...

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• 12 January

  China’s technology stocks jump as cheap valuation lures buyers

  

    Bloomberg A gauge of Chinese technology shares rallied by the most in three months as investors took advantage of attractive valuations in the battered sector and the prospect of looser monetary policy conditions. The Hang Seng Tech Index rose as much as 5% on Wednesday, headed for its highest level in a month with all but one of its ...

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• 12 January

  Strategists from Goldman Sachs to UBS say buy dip in stocks

  

    Bloomberg Unfazed by the stock market’s bumpy start to the year, strategists from Goldman Sachs Group Inc to UBS Global Wealth Management reiterated their bullish calls on bets that equities can weather higher interest rates and rising bond yields. “The selloff in some long duration high quality names might be overdone soon,” Goldman strategists led by Cecilia Mariotti wrote ...

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• 12 January

  Oil gains before US stockpiles data as China tackles Omicron

  

    Bloomberg Oil rises as traders looked ahead to clues on US stockpiles, while monitoring China’s efforts to contain the spread of Omicron. West Texas Intermediate added 0.9% after capping a two-day drop. The industry-funded American Petroleum Institute releases its weekly report on US inventories. Nationwide holdings have sunk for the past six weeks to the lowest since September, official ...

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• 12 January

  Global GDP to rise 4.1% in 2022, says World Bank

  

    Bloomberg Covid-19 flare-ups, diminished policy support, and lingering supply-chain bottlenecks will see the global economic recovery cool more than previously estimated in 2022, after last year’s expansion clocked the fastest post-recession pace in eight decades, the World Bank said. Global gross domestic product will probably increase 4.1% this year, less than a 4.3% forecast in June, the Washington-based development ...

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• 12 January

  China coal falls to lowest as Indonesia releases cargoes

  

    Bloomberg Chinese coal futures fall to the lowest level this year after Indonesia allowed some cargoes to leave ports as it considers lifting a temporary ban on exports of the fuel. Thermal coal on the Zhengzhou Commodity Exchange dropped by as much as 2.9% on Tuesday after Indonesia’s government said the previous day that it would immediately release 14 ...

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• 12 January

  Airbus beats Boeing on aircraft deliveries, set to lose on orders

  

    Bloomberg Airbus SE cemented the title of world’s largest planemaker for the third straight year with 611 jetliner deliveries, though it’s on track to lose the contest with Boeing Co. over orders. The European manufacturer beat its own handover target by 11 planes, leaving its US competitor in the dust. Jefferies estimates that Boeing, which is due to report ...

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• 12 January

  Graft allegation adds to Garuda Indonesia’s woes

  

    Bloomberg Indonesia’s government has filed corruption allegations against its flag carrier, adding to PT Garuda Indonesia’s woes as the airline undergoes a debt restructuring process. The Attorney General will investigate the file submitted by State-Owned Enterprises Minister Erick Thohir on Tuesday. The case is linked to Garuda’s procurement ATR 72-600 aircraft, although Thohir said there are indications of corruption ...

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• 12 January

  Ikea cuts pay for unvaccinated employees ordered to isolate

  

    Bloomberg Ikea imposed a financial penalty on unvaccinated UK employees who miss work if they are ordered to self-isolate after coming into contact with someone with Covid-19. If these workers become ill with the virus themselves, however, they will still receive sick pay as normal, Ikea said in a statement to Bloomberg. The changes, which came into effect in ...

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