April, 2022

• 15 April

  RBNZ’s biggest hike in 22 years sounds global inflation warning

  

    Bloomberg New Zealand’s central bank delivered its biggest interest-rate increase in 22 years, signaling that policy makers around world may need to step up efforts to get inflation under control. The Reserve Bank’s Monetary Policy Committee lifted the official cash rate by half a percentage point to 1.5% in Wellington, the first time it has delivered an increase of ...

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• 15 April

  PBOC urges loans to logistics firms to ease supply chain pain

  

    Bloomberg China’s central bank pledged financial support for logistics firms and truck drivers to ensure the country can maintain supply chain stability amid the worst Covid outbreak in two years. The People’s Bank of China will ask lenders to “reasonably” extend and renew loans for the industry, it said in a statement, following a central bank meeting on coordinating ...

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• 15 April

  Standard Chartered slashes its Singapore office space by half

  

    Bloomberg Standard Chartered Plc plans to cut half of its existing office space in Singapore’s financial district, according to people familiar with the matter, in what is set to be the biggest floor reduction by a bank in the city-state in recent years. The London-based bank is giving up nine of the floors it leases at Marina Bay Financial ...

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• 15 April

  BOJ likely to increase price forecast by notable margin

    Bloomberg The Bank of Japan (BOJ) is likely to consider notable changes in its inflation and growth forecasts later this month mainly due to soaring oil and commodity prices, gains that aren’t viewed as sustainable, according to people familiar with the matter. The central bank will probably raise its projection for growth in key consumer prices to between around ...

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• 15 April

  Bank of Korea hikes key rates without governor

  

    Bloomberg The Bank of Korea (BOK) added to a wave of global action against inflation this week by raising its key interest rate, brushing aside concerns about a leadership vacuum at the bank and global risks to the export-dependent economy. The central bank raised its seven-day repurchase rate by a quarter percentage point to 1.5% in the board’s first-ever ...

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• 15 April

  Ex-Swiss bank chief faces jail

    Bloomberg The former boss of one of Switzerland’s top banks was sentenced to three years and nine months in jail after being found guilty of multiple charges including embezzlement, fraud and forgery of documents. Pierin Vincenz, ex-chief executive officer of Raiffeisen Switzerland, and bank consultant Beat Stocker were convicted for making unlawful gains during Vincenz’s 15-year tenure as CEO, ...

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• 15 April

  UK banks plan sharp cut in mortgage lending

  

    Bloomberg British banks plan a sharp cut in mortgage lending over the next three months amid fears that borrowers will start to default on their debts. The Bank of England’s (BOE) quarterly credit conditions survey showed lenders plan to reduce the supply of mortgages at the fastest rate since the start of pandemic in early 2020. Excluding the Covid crisis, ...

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• 15 April

  Online traders plow into Twitter with bet on the power of Musk

  

    Bloomberg Elon Musk moves. An army of devoted traders listens. Retail investors piled into Twitter Inc. stock, after the world’s richest person and head of Tesla Inc. roiled the financial world with an audacious bid to purchase the company for $43 billion. Musk later expressed doubt about whether the blockbuster deal will succeed, but that didn’t do much to ...

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• 15 April

  Stocks decline as China refrains from cutting interest rate

  

    Bloomberg Stocks fall in Asia Friday as China unexpectedly opted against cutting a key policy interest rate, a reduction that had been widely expected to support an economy hamstrung by Covid-19 lockdowns. Equities were mixed on the mainland and fell in Japan and South Korea, among the few markets open amid Easter holidays. China has indicated it will reduce ...

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• 15 April

  UAE’s executive to chair Arab Union for Industrial Exports Development

  

    Dubai / WAM Mohammad Ali Al Kamali, Deputy CEO of Dubai Industries and Exports, an agency of the Department of Economy and Tourism (DET) in Dubai, was announced as President of the next session of the Arab Union for Industrial Exports Development (AUIED). The announcement was made during the ninth General Assembly of AUIED, which concluded in Dubai alongside ...

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