August, 2021

• 24 August

  PBOC vows to stabilise money growth, boost credit support

  

  Bloomberg China’s central bank chief vowed to stabilise the supply of credit and boost the amount of money supporting smaller businesses and the real economy, after both credit and economic growth slowed in July. The People’s Bank of China (PBOC) will keep monetary policy stable with a good cross-cyclical design and will support high-quality economic expansion with “appropriate money growth,” ...

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• 24 August

  Citi sued for profiting from European credit fund’s demise as Covid struck

  

  Bloomberg Citigroup Inc is facing a lawsuit for pulling support from a European credit fund as the Covid-19 pandemic roiled the markets, then giving its own traders a potential profit at the fund’s expense. The New York-based bank was sued by Ver Capital Partners in London for forcing the fund to default on a 224 million-euro ($263 million) loan in ...

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• 24 August

  RBNZ: Rate hike delayed due to communication difficulties

  

  Bloomberg New Zealand’s central bank decided not to raise interest rates last week because of communication challenges, not economic risks, Assistant Governor Christian Hawkesby said. It would have been difficult to explain an increase in the official cash rate on the same day the country entered a lockdown to combat a Covid-19 outbreak, Hawkesby told Bloomberg in a telephone interview ...

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• 24 August

  Goldman Sachs increases pay for junior employees

  

  Bloomberg Goldman Sachs Group Inc is boosting the pay of junior staff in its sales, trading, research and asset management divisions as the wave of pay rises spreads beyond investment banking, according to Financial News. Goldman Sachs will pay starting salaries of $110,000 in these units, up from $85,000, while second years will receive $125,000, Financial News reported, citing people ...

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• 24 August

  Hungary set to raise rates as tightening cycle hits its stride

  Bloomberg Hungary will probably raise interest rates for the third time in as many months as policy makers continue their campaign to stem one of the European Union’s highest inflation rates. The central bank is poised to increase benchmark rate by 30 basis points to 1.5%, matching the pace of hikes in June and July, according to all but one ...

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• 24 August

  China opportunities ‘too big to ignore’: HSBC chairman

  

  Bloomberg HSBC Holdings Plc Chairman Mark Tucker, speaking in Hong Kong after passing through the city’s rigid three-week quarantine, said the opportunities in China are “too big to ignore” even as geopolitical tensions escalate. “We’re moving to a new status quo in Sino-US relations,” Tucker said in a video obtained by Bloomberg News of a discussion last week at a ...

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• 24 August

  SGX is eyeing first US dollar bond amid acquisition push

  

  Bloomberg Singapore Exchange Ltd (SGX) is planning a maiden dollar bond offering, which would make it the latest entrant in a rush by Asian firms to lock in cheap borrowing costs. The city-state’s sole equities bourse hired banks for a potential US currency note and will hold investor calls from on Tuesday, according to a person familiar with the matter, who ...

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• 24 August

  Red-hot India market rally relying on fewer and fewer stocks

  

  Bloomberg As India’s world-beating stock rally powers ahead, skeptics are pointing to lousy market breadth as a sign that further gains may be harder to come by. The NSE Nifty 200 Index has more than doubled from a March 2020 low — weathering alarming Covid-19 infection and death rates, strict lockdowns and slower economic growth — thanks to a massive ...

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• 24 August

  Emirati-Chinese ties witnessing historic special era: UAE envoy

  

  BEIJING / WAM Ali Obaid Al Dhaheri, UAE Ambassador to China, said the bilateral ties between the UAE and China are witnessing a historic and special era, as the two countries are supporting each other in regional and international events. In his statement during the inauguration of the 5th China-Arab States Expo in Yinchuan, China, Al Dhaheri stressed that China ...

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• 24 August

  Afghan crisis: New Zealand lauds UAE for evacuations

  ABU DHABI / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, has received a phone call on Monday from Peeni Henare, Minister of Defence of New Zealand. The two ministers discussed cooperation and joint action between the UAE and New Zealand in defence and military affairs, and touched upon regional issues of common interest. They also ...

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