May, 2022

• 8 May

  Hard pressed for cash, Kenya to go ahead with Eurobond plans

  

  Bloomberg Kenya plans to go ahead with a Eurobond sale at possibly the worst time in years. The government still intends to raise $1 billion before the end of June, Treasury Secretary Ukur Yatani told reporters in Nairobi. His remarks came days after his department expressed concern in a document that rising global yields meant borrowing might be too expensive ...

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• 8 May

  IMF: Ireland needs to address banks’ crisis-era scars

  

    Bloomberg Ireland’s banking sector needs to be allowed to move on from the financial crisis in order to retain staff, the IMF said, as the debate over caps on bankers’ pay intensifies. “It is important to resolve lingering issues” from global financial crisis which include “recognising banks’ need to retain talent, and noting importance of divesting government ownership,” the ...

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• 8 May

  Argentina slams brake on crypto, banning purchases through banks

  

    Bloomberg Argentina’s central bank dealt cryptocurrencies a blow, prohibiting financial institutions in the South American country from offering clients any operations involving unregulated digital assets. The monetary authority banned operations that allow bank clients to purchase crypto, just days after two large institutions announced they would let clients buy Bitcoin and other digital currencies. The ban also includes assets ...

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• 8 May

  China’s FX reserves drop for fourth straight month

    Bloomberg China’s foreign exchange reserves fall for the fourth straight month in April, as capital outflow pressures grew and the yuan weakened. Reserves fall to $3.1197 trillion in April from March’s $3.188 trillion, the People’s Bank of China said in a statement. That compares with the median estimate of $3.13 trillion in a Bloomberg survey of economists. China in ...

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• 8 May

  BNP Paribas recruits Citi banker amid wealth push

  

    Bloomberg BNP Paribas SA has hired Gaurav Bathija from Citi Private Bank to be a managing director and senior relationship manager for South East Asia market, the latest in a series of hires by the French bank to boost its wealth and family office operations in Singapore. Bathija, who worked with Citi’s family office clients in Singapore, was head ...

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• 8 May

  ECB defies global peer pressure after Fed-led tightening

  

    Bloomberg The European Central Bank’s (ECB) go-slow approach to starting interest-rate hikes is looking ever bolder at a time when most of its counterparts are tightening vigorously. At the end of a week punctuated by global increases in borrowing costs to quell inflation, including an accelerated half-point move by the US Federal Reserve and the Bank of England’s fourth ...

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• 8 May

  BOE chief says he won’t take a pay rise in 2022

    Bloomberg Bank of England (BOE) Governor Andrew Bailey has said that he won’t take a pay rise this year after asking high earners to help keep inflation in check by holding off on making aggressive demands. The central bank chief, who receives total compensation well in excess of 500,000 pounds ($618,000), said he asked the court that sets executive ...

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• 8 May

  Tesla plans to boost Shanghai car production

  

    Bloomberg Tesla Inc is making plans to resume double shifts at its factory in Shanghai as soon as mid-May as it expects staffing and parts shortages to ease, according to people familiar with the matter. The US electric carmaker’s China factory was shuttered for three weeks in April as Shanghai was plunged into lockdown in an attempt to halt ...

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• 8 May

  BMW profit beats estimates on strong demand for top-end cars

  

    Bloomberg BMW AG said earnings rose 12% in the first quarter even as the war in Ukraine and Covid-lockdowns in China disrupted the automaker’s supply chain. Group earnings before interest and tax rise to 3.39 billion euros ($3.6 billion) in the first quarter, the company said, exceeding analyst estimates of 2.9 billion euros. BMW confirmed the outlook for the ...

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• 8 May

  Microsoft’s Xbox cloud lets iPhone users play Fortnite again

  

    Bloomberg Microsoft Corp is bringing the hit video game Fortnite back to iOS devices two years after Apple Inc took it off its App Store. Fortnite, produced by Epic Games Inc is one of the most popular video games of all time. But it’s been absent from Apple’s App Store and Google Play after Epic tried to circumvent the ...

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