August, 2021

• 17 August

  Regional bank deals in US seen ebbing with fewer partners left

  

  Bloomberg The recent flood of US regional bank deals may be drying up. After announcing $76 billion in mergers and acquisitions so far this year — the most since 2008 — US lenders are now running out of potential partners, according to executives and investment bankers. Fewer buyers exist following takeovers by Citizens Financial Group Inc, PNC Financial Services Group ...

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• 17 August

  Goldman Sachs hires macro fund manager Vassalou at $200b unit

  

  Bloomberg Goldman Sachs Group Inc’s asset-management division hired Maria Vassalou, who most recently ran her own firm and spent years at Perella Weinberg Partners, to help manage funds at a $200 billion unit. Vassalou is the deputy chief investment officer at Goldman’s multi-asset solutions group, according to people familiar with the matter, who asked not to be identified discussing personnel ...

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• 17 August

  Australia’s central bank ready to act if lockdowns threaten economy

  

  Bloomberg The Reserve Bank of Australia (RBA) said it will continue to review its bond-buying program based on economic conditions and the health situation as the nation faces lockdowns to combat the delta variant of coronavirus. “The board would be prepared to act in response to further bad news on the health front should that lead to a more significant ...

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• 17 August

  Ethiopia’s National Bank temporarily halts lending

  Bloomberg The National Bank of Ethiopia asked all commercial banks to temporarily suspend providing loans backed by collateral, such as land and buildings. The NBE’s directive follows findings that the money is being used on the black market, State Minister for Finance, Eyob Tekalign, said on Shefer FM radio. The security authorities and the central bank are taking action as ...

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• 17 August

  Nigeria’s Bank of Industry plans $883m eurobond sale

  

  Bloomberg Nigeria’s state-owned Bank of Industry plans to raise as much as 750 million euros ($883 million) from international debt markets this year for lending to companies hampered by the Covid-19 pandemic in Africa’s largest economy. Financial advisers have been appointed for the issue, Chief Executive Officer Olukayode Pitan, said in a virtual interview without providing details. The lender will ...

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• 17 August

  Foreign banks may resume FX trade as India relents

  Bloomberg The Reserve Bank of India (RBI) relaxed a rule on bank’s purchases of foreign sovereign bonds, paving the way for lenders to resume a profitable currency trade. In a notice sent to some banks, the RBI said foreign sovereign bonds wouldn’t fall under a regulatory cap that requires holdings of securities unlisted in India to be 10% or less of ...

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• 17 August

  JPMorgan plots derivatives path into new era of ESG finance

  

  Bloomberg The world’s largest underwriter of green bonds plans to significantly expand its offering of investment products touting environmental, social and governance metrics, as Wall Street starts attaching the label to more complex financial services. JPMorgan Chase & Co says its decision to add the ESG tag to derivatives is part of a strategy to link sustainability to all forms ...

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• 17 August

  China tech stocks fall as nation issues draft competition rules

  

  Bloomberg China’s latest moves to tighten its grip on the nation’s internet giants helped trigger a fifth consecutive day of selling in the nation’s bellwether technology stocks. The Hang Seng Tech Index dropped 3.1%, after the market regulator issued draft rules banning unfair competition among the nation’s online platform operators. Alibaba Group Holding Ltd falls nearly 5% and was the ...

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• 17 August

  Stocks, futures slide on virus angst; dollar gains

  

  Bloomberg Global stocks dropped for a second day and US equity-index futures tumbled amid concern more economic shutdowns are becoming necessary to contain a fast spreading pandemic. A stronger dollar and a slide in Treasury yields underscored the risk-off mood on Tuesday as New Zealand discovered a positive case and announced a lockdown. Gold rises for a fifth day and ...

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• 17 August

  Coronavirus: Hope Consortium accelerates global vaccination

  

  ABU DHABI / WAM Abu Dhabi’s Hope Consortium, which offers one of the most capable and effective vaccine supply chains in the world, has extended its value proposition to include in-country vaccination services with the aim of accelerating global immunisation and eliminating vaccine wastage. The new solution is unique in the Covid-19 immunisation space as it combines end-to-end vaccine delivery ...

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