April, 2022

• 22 April

  Former Kenyan president Mwai Kibaki dies aged 90

  

  Bloomberg Mwai Kibaki, the two-term Kenyan president who fired up the economy yet saw his legacy tainted by election-related violence, has died. He was 90. His death was announced by President Uhuru Kenyatta in a televised address. “Kibaki was a quintessential patriot, whose legacy of civic responsibility will continue to inspire generations of Kenyans long into the future,” Kenyatta said. ...

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• 22 April

  BOJ further boosts bond buying as yields advance to policy limit

  

    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 US puts upward pressure on bond yields and weakens 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 announcing ...

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• 22 April

  Credit Suisse’s top China banker steps aside for new role

  

    Bloomberg Credit Suisse Group AG’s chief executive officer (CEO) at its securities venture in China is stepping aside after less than two years on the job, becoming the second top banker at a major foreign lender in the nation to quit this month. Tim Tu informed management that he decided to pursue other opportunities within Credit Suisse, according to ...

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• 22 April

  Barclays sells 7.4% stake in Absa for $687m

  

  Bloomberg Barclays Plc has sold a 7.4% stake in former African unit Absa Group Ltd for 526 million pounds ($687 million), cutting its holding by half. The firm priced an accelerated placing of 63 million shares at 164 rand each ($10.88), according to a statement. That was a 7.3% discount to the Johannesburg-listed stock’s Wednesday close. Barclays gathered enough investor ...

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• 22 April

  Philippine bank wants tough laws against cybercrimes

    Bloomberg BDO Unibank Inc, the Philippines’ largest lender by assets, wants the country’s next president to be tough against the cybercrimes. Financial service providers that are outside the scope of central bank regulations have proliferated, and “for the health of the industry and the public, they should look at how these entities should be managed relative to banks” which ...

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• 22 April

  BOC leaves door open to a 75-basis-point rate hike

    Bloomberg Governor Tiff Macklem acknowledged there’s potential for even larger increases to borrowing costs as the Bank of Canada (BOC) aggressively wrestles inflation down from a three decade high. Macklem and his officials delivered the first 50-basis-point increase in interest rates among Group of Seven nations last week and signalled more hikes to come. This week, annual consumer price gains ...

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• 22 April

  Traders price three half-point Fed hikes as bonds, stocks fall

  

  Bloomberg Global bonds added to this year’s epic rout as traders brace for the most aggressive Federal Reserve interest-rate hikes in 40 years and the likelihood most global central banks will also tighten. The policy-sensitive two-year yield climbed as much as eight basis points on Friday to 2.76%, the highest since late 2018, after Fed Chair Jerome Powell said overnight ...

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• 22 April

  Shareholders gained 50 times as much as US workers in pandemic

  

    Bloomberg Shareholders in some of the biggest US companies reaped wealth gains in the pandemic that outpaced pay hikes for their employees by more than 50 to 1, according to a study by the Brookings Institution. The report — focused on 22 industry leaders, including Amazon.com Inc. and McDonald’s Corp. — found that stockholders added some $1.5 trillion in ...

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• 22 April

  Oil settles little changed as low supplies offset cloudy outlook

  

  Bloomberg Oil edged higher after a tumultuous session where traders weighed concerns about tight global supply with Germany announcing a ban on Russian oil and a sharp drop in US crude inventories. West Texas Intermediate settled above $102 on Wednesday after swinging between gains and losses. German Foreign Minister Annalena Baerbock said that the country plans to stop importing oil ...

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• 21 April

  UAE announces Eid holidays for federal govt employees

    DUBAI / WAM The Federal Authority for Government Human Resources on Thursday announced that the Eid al-Fitr holiday for the federal entities in the UAE will begin on Ramadan 29 (corresponding to April 30) until Shawwal 3, 1443 Hijri, which is yet to be declared. The authority also offered greetings to the people of the UAE and Arab and ...

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