September, 2021

• 1 September

  Nigeria central bank to launch digital currency

  Bloomberg Nigeria’s central bank selected Bitt Inc. as a technical partner to help create its digital currency by the end of the year. The Barbados-registered financial technology company will help the regulator to launch the new currency, named eNaira, Central Bank Governor Godwin Emefiele said in an emailed statement. The company was picked for its “technological competence, efficiency, platform security, ...

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• 1 September

  Rupee’s gains have traders speculating RBI easing grip

  

  Bloomberg The Indian rupee’s outsized gains over the last three sessions is spurring talk that the Reserve Bank of India (RBI) may have loosened its grip over the currency. The rupee has rallied 1.6% in the previous three sessions to post its biggest gain for the period since March 2 The exchange rate had been moving within a range of ...

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• 1 September

  Italy may take on extra branches in Paschi deal

  

  Bloomberg Italian public financial institutions may end up purchasing some assets of Banca Monte dei Paschi di Siena SpA that UniCredit SpA doesn’t want in a takeover of the bankrupt lender. State lender Mediocredito Centrale SpA and state-owned asset manager AMCO SpA were given to access to Monte Paschi’s data room, according to a statement. The Italian Treasury may be ...

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• 1 September

  Zambia keeps interest rate unchanged

  Bloomberg Zambia’s central bank kept its benchmark interest rate unchanged, with inflation seen decelerating faster than earlier expected. The monetary policy committee held the rate at 8.5%, Governor Christopher Mvunga told reporters on Wednesday in Lusaka, the capital. This was the MPC’s first rate decision under a new government following elections last month. The decision to hold was supported by ...

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• 1 September

  Wells Fargo risks regulatory action over pace of restitution

  

  Bloomberg Five years into scandals that have already cost Wells Fargo & Co more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls. The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau have warned the firm they ...

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• 1 September

  European stocks rise as investors keep faith in economic rebound

  

  Bloomberg European equities advanced the most in a month on Wednesday as investors bet the global economic rebound would persist even as central banks prepare to scale back support. The Stoxx Europe 600 Index was up 0.9% at 9:50 am in London to be within 0.3% of an historical peak. Retail and travel and leisure were among the best performers, ...

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• 1 September

  Hot India property stocks seen extending run on demand surge

  

  Bloomberg Recent weakness in India’s red-hot property stocks could be short-lived as record low interest rates and an economic recovery from the pandemic fuel demand from an increasingly affluent middle class. That’s the view from market watchers, who see large listed firms emerging as biggest beneficiaries amid an ongoing consolidation in $200 billion sector. While the S&P BSE Realty Index ...

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• 1 September

  Jardine’s Singapore stocks dropped $5bn

  Bloomberg Jardine Matheson Holdings Ltd group stocks have turned from some of Singapore’s best performers to the worst this year amid a resurgence of coronavirus infections in Southeast Asia. Shares of the venerable trading firm, which gets more than half of its annual revenue from Southeast Asia, dropped 8.6% last month, ranking it among the worst performers on the Straits ...

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• 1 September

  ADX waives its minimum commission fee on trading

  

  ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) has announced it waived its minimum commission fee on trades in all listed securities starting from August 31 to further encourage market participation among individual investors on one of the best performing markets in the world this year. The decision follows the announcement of a 50% reduction in trading commissions ...

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• 1 September

  Sheikh Mohamed, US defence chief review consolidating ties

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and US Secretary of Defense Lloyd James Austin reviewed strengthening the defence cooperation ties between two friendly nations and exchanged views over a number of issues of interest. This came in a phone call ...

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