January, 2021

• 3 January

  NYSE to delist Chinese telco giants on US executive order

  

  Bloomberg The New York Stock Exchange (NYSE) said it will delist three Chinese corporations to comply with a US executive order that imposed restrictions on companies identified as affiliated with the Chinese military. China Mobile Ltd., China Telecom Corp Ltd, China Unicom Hong Kong Ltd will be suspended from trading between January 7 and January 11, and proceedings to delist …

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• 3 January

  UAE stocks rise most in Mideast, track global peers

  

  Bloomberg Benchmark indexes in the United Arab Emirates (UAE) climbed the most in the Middle East, tracking global stock rallies on optimism surrounding the rollout of coronavirus vaccines. Indexes in Oman and Israel also rise, while the main gauge in Egypt was unchanged. The Tadawul All Share Index in Riyadh dropped the most in the region, with 20 out of its …

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• 3 January

  Opec+ emerges from chaos of 2020 to face balancing act

  

  Bloomberg As one of the most tumultuous years in oil’s history ends, a delicate task now lies ahead for Opec+. The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without disturbing the price recovery they spent most of 2020 working to achieve. Moscow believes that the group — which …

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• 3 January

  China sees ‘new window of hope’ in ties with US

  

  Bloomberg China and the US can open a “new window of hope” in bilateral ties in the new year, Foreign Minister Wang Yi said, urging Washington to resolve disputes through dialogue. “Our US policy will maintain continuity and stability and we are willing to develop China-US relations in a coordinated, cooperative and stable manner with the American side,” Wang was …

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• 3 January

  Airbus closes 2020 with 560 deliveries

  Bloomberg Airbus SE was close to delivering 560 planes to customers as of December 31, approaching the top end of its internal target in a year marred by the pandemic-induced collapse of air travel, according to people familiar with the matter. The European planemaker delivered close to 550 aircraft as of December 29, Bloomberg reported earlier. The final audited tally …

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• 3 January

  Goldman leads in M&A advising in 2020 after comeback for deals

  

  Bloomberg 2020 was a year the entire world changed, but one thing held steady in an elite corner of Wall Street: Goldman Sachs Group Inc. ended up on top. Goldman was the world’s top adviser on mergers and acquisitions (M&A) for the fourth consecutive year in 2020, and was the only bank with more than 30% of market share, according to …

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• 3 January

  SNB interventions reach $100 billion

  

  Bloomberg Switzerland’s central bank spent 11 billion francs ($12.5 billion) on interventions in the third quarter, adding to an already-high tally that got the country labelled a currency manipulator by the US. The Swiss National Bank (SNB) acquired foreign currencies worth more than 100 billion francs win the first nine months of the year — the biggest sum since 2012 …

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• 3 January

  Poland to cut near-zero interest rates in 2021

  

  Bloomberg Poland’s central bank is analysing the impact of potential interest-rate cuts that could take place in the first quarter of 2021, Governor Adam Glapinski said. While the current, record-low reference rate of 0.1% is “appropriate and best suits the situation,” the central bank may reduce it further, the Governor said in an excerpt of an interview published on the …

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• 3 January

  China caps bank loans to real estate

  

  Bloomberg China’s regulators will impose caps on banks’ lending to the real estate sector for the first time, in their latest efforts to prevent systematic risks after a series of property curbs in recent years did little to damp buyer enthusiasm. Under the new mechanism, loans to developers will be capped at 40% for the nation’s largest state-owned lenders while …

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• 3 January

  Commerzbank to take $745mn hit for job cuts

  

  Bloomberg Commerzbank AG will set aside 610 million euros ($745 million) in the fourth quarter to cover restructuring costs after reaching an agreement with the works council on planned job cuts. The amount will cover the elimination of 2,300 positions between 2021 and 2024, part of a restructuring plan announced last year, according to a statement from the bank. Commerzbank …

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