June, 2021

• 22 June

  Citi slumps after warning of costs rising, revenue slipping

  

  Bloomberg Citigroup Inc shares fell the most in five months after the bank warned expenses would increase sharply as it invests to satisfy a pair of consent orders from regulators. Expenses in second quarter will likely jump to “somewhere in the middle” of a range of $11.2 billion to $11.6 billion, Chief Financial Officer Mark Mason told investors at a ...

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• 22 June

  China unveils new method to calculate bank deposit rates

  

  Bloomberg China adjusted how banks can set deposit rates in a move that could lower longer term funding costs and boost economic growth. Under a new way of calculating the ceiling on deposits rates, banks will be allowed to add basis points on top of the existing benchmark rate instead of as before using a multiple. Under the new regime, ...

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• 22 June

  Bank TSB to ban crypto purchases

  

  Bloomberg TSB Banking Group is set to ban more than 5 million customers from buying cryptocurrencies amid fears over “excessively high” fraud rates on trading platforms, according to a report by Telegraph newspaper. The company is the latest British bank to crack down on financial cyber-crime following temporary moves by Barclays Plc, Monzo Bank and Starling Bank to block transfers ...

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• 22 June

  Canada hires TD, HSBC for its debut green bond sale

  

  Bloomberg Canada hired HSBC Holdings Plc and Toronto-Dominion Bank (TD) for its inaugural sale of green bonds, joining other nations including the UK and Germany in pursuing environmentally-friendly debt issuance. The banks will advise on the design of Canada’s green bond framework, assist in the development of an ongoing program and support the debut issuance, according to statements. The country ...

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• 22 June

  US futures advance with stocks as Fed jitters ease

  

  Bloomberg US equity futures climbed with European stocks on Monday as markets regained a measure of calm following volatility spurred by the Federal Reserve’s surprise hawkishness. Contracts on the S&P 500 advanced after spending most of the Asia session in the red. The Stoxx 600 Index also rebounded from an earlier loss, with UK grocer Wm Morrison Supermarkets Plc surging ...

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• 22 June

  Japanese stocks fall as hawkish Fed damps cyclical appeal

  

  Bloomberg Japanese stocks declined by the most in almost four months, extending losses from late last week as hawkish comments from the US Federal Reserve crushed the reflation trade that had driven the market earlier this year. The selloff briefly sent the Nikkei 225 Stock Average down as much as 4%, the most since April 2020, amid a global selloff ...

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• 21 June

  Sharjah is committed to support refugees, says Sultan Al Qasimi

  

  Sharjah / WAM “Sharjah is committed to supporting refugees around the world by extending a strong and reliable helping hand reflected in several sustainable humanitarian programmes that mirror the ethos of our cultural project”, said HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, during a virtual event held to honour the winner of ...

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• 21 June

  Dubai records realty deals worth AED11.11b in May

  

  DUBAI / WAM The number of real estate transactions in the emirate of Dubai in May reached 4,429, the highest total sales transaction values since March 2017 in excess of AED11.11 billion, with a growth of 1.4 percent compared to last April. A total of 20,989 real estate sale transactions were recorded from January to May worth AED 47.19 billion, ...

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• 21 June

  EDB allocates AED30m to finance SMEs, startups

  

  Abu Dhabi / WAM Emirates Development Bank (EDB) on Sunday announced that it has signed an agreement with Beehive, the UAE’s first Peer-to-Peer (P2P) platform, to expand funding options for the small and medium-sized enterprises (SMEs). The announcement follows EDB’s strategic pledge to support SMEs, startups and large corporates across five priority sectors including manufacturing, healthcare, infrastructure, food security and ...

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• 21 June

  UAE interbank rates up replicating Fed’s move

  Dubai / WAM The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) jumped across all terms post the Central Bank of the UAE increased on Thursday its base rate applicable to the overnight deposit facility (ODF) by 5 basis points to 15 bps, replicating the US Federal Reserve’s move on Wednesday, according to the CBUAE’s figures. The one-year ...

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