December, 2021

• 27 December

  Polish president vetoes media bill, bending to US pressure

    Bloomberg Poland’s President Andrzej Duda vetoed a bill that would force Discovery Inc. to sell most of the country’s most popular private television network, defusing a row that strained relations with the US. The bill, adopted in a surprise parliamentary vote on December 17, blindsided Washington and sent thousands of Poles to the streets in protest over what they ...

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• 27 December

  PBOC to make monetary policy more forward-looking, targeted

  

    Bloomberg China’s central bank pledged greater support for the real economy, and said that it will make monetary policy more forward-looking and targeted. There will be more “proactive” use of monetary policy tools, the People’s Bank of China (PBOC) said in a statement. It added that there will be “good use” of the monetary policy tools’ quantitative and structural ...

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• 27 December

  Morgan Stanley tells staff to wear masks, limit big meetings

  

    Bloomberg Morgan Stanley told employees who have to be in the office through the first two weeks of January to wear face coverings when not at their desks and limit large in-person meetings. “This guidance applies to all locations (even those where everyone is fully vaccinated),” the New York-based bank said in a memo to staffers this week. “Masking ...

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• 27 December

  HSBC to buy L&T Investment Management for $425 million

  

    Bloomberg HSBC Holdings Plc has said it will buy the investment management unit of India’s L&T Finance Holdings Ltd, the latest push to build up the Asian wealth and investment business that is at the forefront of the bank’s turnaround plans. The London-headquartered lender said it had agreed terms to acquire L&T Investment Management, which had looked destined to ...

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• 27 December

  UBS appeals $2 billion tax penalty at French court

  

    Bloomberg UBS Group AG appealed a court verdict that it helped wealthy French clients stash undeclared funds in Swiss accounts, prolonging a period of legal uncertainty in seven-year old case. The Zurich-based bank filed an appeal with the French Supreme Court regarding the ruling, according to a statement. It had five days from the judgement last week to make ...

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• 27 December

  Kenya’s shilling weakens for a second year

    Bloomberg Kenya’s shilling has depreciated 3.5% to dollar this year after a seven-month losing streak, adding to a 7.8% loss last year. The currency of East Africa’s largest economy reached its weakest closing level of 113.09 per dollar and was trading little changed in Nairobi. The biggest monthly decline was in August when it weakened 1.3%, while July-September was ...

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• 27 December

  Mitsubishi UFJ targets Asia unicorns with debt-finance fund

  

    Bloomberg Mitsubishi UFJ Financial Group Inc is preparing to launch a fund that provides debt financing to Asian start-ups in an effort to win investment-banking business through subsequent initial public offerings. Japan’s largest lender will start a $300 million fund early next year after upsizing its first joint-venture fund earlier this year, Chief Executive Officer Hironori Kamezawa said in ...

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• 27 December

  Global bond winners for 2021 came from emerging markets

  

    Bloomberg Emerging-market bonds were supposed to be dragged down this year as central banks moved towards withdrawing stimulus. Instead, the best-performing global debt was all from developing nations. Sovereign bonds issued by South Africa, China, Indonesia, India and Croatia topped the rankings of 46 markets around the world in 2021, according to data compiled by Bloomberg through last week. ...

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• 27 December

  RBL Bank tumbles after India appoints director to board

  

    Bloomberg RBL Bank Ltd shares plunged after a decision by India’s central bank to appoint a new director to the board raised concerns about the outlook for small private-sector lender. The stock dropped as much as 25% in Mumbai on Monday, the biggest decline since listing in 2016. It later pared the retreat to about 13% as of 1:15 ...

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• 27 December

  World economy now set to surpass $100trn in 2022

  

    Bloomberg The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research (CEBR). Global gross domestic product will be lifted by the continued recovery from the pandemic, although if inflation persists it may be hard for policy makers to avoid ...

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