May, 2022

• 8 May

  Raab: UK moving fast to ‘fix’ Northern Ireland protocol

    Bloomberg The UK government plans to move quickly to “fix” the Northern Ireland Protocol despite the election victory of the Irish nationalist party Sinn Fein, which favours keeping the contentious post-Brexit trade agreement. “It must be dealt with,” Dominic Raab, the UK’s deputy prime minister, told Sky News. Raab declined to comment on a report in the Telegraph that ...

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• 8 May

  Ukraine’s tiny neighbour suffers economic fallout from war

  

  Bloomberg The Russian invasion of Ukraine has spurred a rush of loans to help tiny Moldova defray the economic hit from the war raging next door. Things are so perilous that the International Monetary Fund is now calling on nations to send cash. The conflict is piling pressure on the ex-Soviet nation, just as it started trying to fix graft ...

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• 8 May

  Australian leaders clash in second election debate

  

  Bloomberg The two candidates for Australia’s next prime minister were grilled on cost-of-living issues, corruption and rising inflation at a second leaders’ debate less than two weeks from a national vote to be held on May 21. During the debate, held in Sydney, the conversation often deteriorated into a yelling match between PM Scott Morrison and opposition Labor leader Anthony Albanese, ...

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• 8 May

  Lula makes presidential candidacy official

  

    Bloomberg Luiz Inacio Lula da Silva officially launched his bid to return to Brazil’s presidency more than a decade after he left office. The widely expected announcement, marked by an official event in Sao Paulo, kicks off a new phase of the campaign, in which Lula and his running mate Geraldo Alckmin will start traveling across the nation trying ...

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• 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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