May, 2022

• 14 May

  UK sanctions ‘friends’ supporting Putin’s ‘luxury lifestyle’

  

  Bloomberg The UK ramped up its sanctions on Russia, targeting friends and family members it said were helping to prop up President Vladimir Putin’s “luxury lifestyle.” Individuals sanctioned include Putin’s former wife, Lyudmila Ocheretnaya, and Alina Kabaeva, a former gymnast and Chair of the Board of the National Media Group who is alleged to have a close relationship with the ...

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• 14 May

  Orban loses friends as Poland gives him cold shoulder

  

  Bloomberg The steady friendship between Hungary and Poland, who for years gave each other cover as they defied the European Union over the rule of law, has frozen over since Russia’s invasion of Ukraine. The rift risks weakening Hungarian Prime Minister Viktor Orban, the champion of “illiberal democracy” who has waged a bitter fight with EU leaders over a bloc-wide ...

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• 14 May

  Sri Lanka’s oppn not to join new government

  

    Bloomberg Sri Lanka’s new Prime Minister Ranil Wickremesinghe said he will show his majority in parliament next week but the task for President Gotabaya Rajapaksa’s appointee to form a government is looking fraught with the opposition and others saying they won’t take any cabinet roles. The main opposition Samagi Jana Balawegaya party has said it won’t join a so-called ...

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• 14 May

  India’s central bank to raise its inflation forecast in June

  

    Bloomberg India’s central bank will raise its inflation forecast in the June monetary policy meeting amid elevated commodity prices, possibly setting the stage for more interest rate increases by August, a person familiar with the matter said. There is also a growing chance that inflation will breach the upper end of the Reserve Bank of India’s (RBI) targeted 2%-6% ...

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• 14 May

  Credit Suisse appoints financing group heads

  

    Bloomberg Credit Suisse Group AG will name two veterans to lead its Asia-Pacific financing group in a bid to shore up one of its most profitable businesses in the region after a series global scandals triggered billions of dollars in losses and departures of senior executives at the Swiss bank. The Zurich-based lender will name Tim Tu, who just ...

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• 14 May

  Nomura hires 10 traders to build out its FX-focused macro desks

  

    Bloomberg Nomura Holdings Inc. has hired four traders from Citigroup Inc., and six others from elsewhere, as it rebuilds its macro desks globally with a focus on foreign exchange. Dipak Shah, Sidi Mohamed Saaf, Matthew Rupsis and Christopher Torrington have recently joined Nomura from Citigroup in a variety of roles to help the Japanese lender boost its forward and ...

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• 14 May

  Sri Lanka central bank chief threatens to quit

    Bloomberg Sri Lanka’s central bank chief imposed more capital controls and threatened to resign if politicians fail to return stability to the nation, which is in the grip of its worst economic crisis since independence. “I took on this responsibility with expectations that political stability will be established,” Governor Nandalal Weerasinghe said in Colombo. Weerasinghe’s briefing comes amid an ...

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• 14 May

  Brazil’s Nubank starts Bitcoin, Ether trading

  

    Bloomberg Nu Holdings Ltd, a Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway Inc, partnered with blockchain startup Paxos Trust Co to allow its customers to trade cryptocurrencies. Nubank’s more than 50 million customers will initially be able to trade Bitcoin and Ethereum, according to Paxos Chief Executive Michael Coscetta. Paxos has seen demand increase for digital assets ...

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• 14 May

  Standard Bank gets first Black woman governor

  Bloomberg Standard Bank Group Ltd has named a female Black person to chair Africa’s biggest lender by assets for the first time. Nonkululeko Nyembezi has been appointed as chairman-designate effective June 1, according to a statement. She replaces Thulani Gcabashe, who will retire after the annual general meeting on May 31. “It is hugely significant to us that the Standard ...

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• 14 May

  US futures, stocks advance as rate-hike worries ease

  

    Bloomberg US futures and stocks rise on Friday after Federal Reserve Chair Jerome Powell pushed back against speculation of steeper interest-rate hikes. Risk sentiment was boosted by a rebound in cryptocurrencies. Contracts on the S&P 500 gained 1% and those on the Nasdaq 100 climbed 1.6%. Twitter Inc shares plunged as much as 26% in New York premarket trading ...

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