August, 2021

• 24 August

  UBS’s rich Asia clients poured billions into sustainable assets

  

  Bloomberg UBS Group AG’s wealthy Asian clients are pouring billions of dollars into sustainable assets as the region’s swelling ranks of millionaires jump on a global push into socially responsible investing. Assets under management in fully sustainable discretionary portfolios for Asia-Pacific private banking jumped to $4.5 billion as of the end June, up from $1 billion at the start of ...

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• 24 August

  Morgan Stanley asks staff for proof of ‘vaccinations’

  Bloomberg Morgan Stanley is stepping up efforts to ensure employees comply with its rule that they be vaccinated to enter its buildings. The firm told vaccinated staff to provide documentation of their shots by October 1, after previously letting them attest to their status. The extra step is meant to “provide greater comfort for those working in the office,” it ...

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• 24 August

  Citi shorts Treasuries but adds on bet against yuan

  

  Bloomberg Citigroup Global Markets says Treasury yields are set to rise, and there’s a way to screen out one of the main risk factors that may push them lower by betting against the yuan. The US brokerage recommends its clients position for higher US rates and also use options to wager against any strength in China’s currency. The rationale is ...

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• 23 August

  Lloyds to buy 50,000 UK homes

  Bloomberg Lloyds Banking Group Plc could buy 50,000 UK homes in the next decade as it looks to become a major player in the country’s rental market. An internal job advertisement seen by the Financial Times for the bank’s newly launched Citra Living unit details ambitions for Lloyds to purchase 10,000 houses by the end of 2025 and 50,000 by ...

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• 23 August

  Banker bonuses tied to ESG metrics on rise in Europe

  

  Bloomberg European bankers will soon have to show they’re contributing to a cleaner environment, a better society and good governance — or face a smaller pay package. In the latest sign that ESG is reshaping finance, most of the 20 major European banks surveyed by Bloomberg said they were either working on, or already had, a model that links staff ...

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• 23 August

  European stocks, futures climb; dollar declines with Treasuries

  

  Bloomberg Stocks in Europe rise on Monday along with US futures as traders took advantage of last week’s selloff while keeping a wary eye on risks from the delta virus strain and China’s regulatory crackdown. Bonds declined. The Stoxx Europe 600 index climbed for a second day, though the gauge pared gains after purchasing managers surveys from the region’s biggest ...

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• 23 August

  China tech shares stage rebound after five-week selloff

  

  Bloomberg Chinese technology stocks rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months. The Hang Seng Tech Index climbed as much as 4.5%, the biggest jump since July, following a near 11% slump last week. The gauge had dropped for five straight weeks in its biggest such losing streak ...

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• 23 August

  A milestone for Aussie stocks hangs in balance

  Bloomberg A milestone for Australian stocks hangs in the balance as investors weigh better-than-expected corporate earnings results against a resurgence in Covid-19 concerns. Of the 78 companies that have reported full-year results this month, 65% have met or exceeded earnings estimates, according to data compiled by Bloomberg. That’s three percentage points higher than for the same period last year. The ...

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• 23 August

  India’s textiles industry attracts UAE investments

  

  Abu Dhabi / WAM The UAE is emerging as a growing investor in India’s textiles sector even as India steps up its efforts to quadruple the exports of handloom textiles in the next three years. The Ministry of Textiles here on Sunday set up a high-level, eight-member, experts’ committee to double the production of handlooms and boost exports. The committee ...

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• 23 August

  Abu Dhabi launches 22 new industrial facilities with AED286.4m investments

  

  Abu Dhabi / WAM The Abu Dhabi Department of Economic Development and the Industrial Development Bureau (IDB) has revealed the success of the Basic Industrial Project by introducing new 22 industrials licenses in the first year of the project. These licenses include the medical, food and electrical sectors with a total investment of AED286.4 million. Mohamed Ali Al Shorafa, Chairman ...

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