July, 2019

• 10 July

  At a grim moment for banking jobs, Citi says it’s hiring

  

  Bloomberg In one of the darker weeks for finance jobs, Citigroup Inc said it’s planning to increase senior banking hires across key sectors and markets as it aims to become a top-three investment bank. The lender is seeking to add to its healthcare and technology teams, and is also looking to increase local deal-making clout in some emerging markets, Tyler …

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• 9 July

  UAE affirms support for Mideast peace process, regional stability

  GENEVA / WAM In a statement delivered by Obaid Salem Al Zaabi, UAE Permanent Representative to the United Nations (UN) in Geneva, during the 41st session of the Human Rights Council, the UAE affirmed its support for the peace process in the Middle East, with the aim of achieving peace and stability in the region. It also highlighted its support …

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• 9 July

  Abu Dhabi’s trade with Saudi hits AED18.3bn

  

  ABU DHABI / WAM The value of trade in goods between the Emirate of Abu Dhabi and Saudi Arabia has increased to AED18.3 billion during the first four months of 2019, a growth of 20.6 percent compared with the same period of 2018, according to figures released by the Statistics Centre — Abu Dhabi. The emirate’s trade with Saudi Arabia …

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• 9 July

  IBM closes $34 billion deal to acquire Red Hat

  

  Bloomberg IBM closed its $34 billion purchase of Red Hat, sealing the world’s second-largest technology deal ever and setting up the iconic US technology company on a path to try and compete with top software purveyors in the cloud. The 108-year-old International Business Machines Corp, once synonymous with mainframe computing, has been struggling to adopt cloud-related technologies and is playing …

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• 9 July

  Aramco awards $18bn in deals to boost output capacity at two fields

  

  Bloomberg Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its Opec partners restrict production. Saudi Arabia’s state oil company will add a combined 550,000 barrels a day of crude-production capacity at its Marjan and Berri fields, it said on Tuesday in a …

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• 9 July

  US stocks pare losses on eve of Powell report, gold drops

  

  Bloomberg US stocks pared some early losses as markets await an onslaught of central bank news this week. The dollar strengthened to its highest level since mid-June and Treasuries slipped. The S&P 500 Index declined, led lower by materials and utilities stocks, as investors absorb recent profit warnings and stand by for more clues on the path for US monetary …

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• 9 July

  $30 billion wiped off India stocks as tax clarity eludes market

  

  Bloomberg It’s an old saw of India’s budget documents — the devil lies in details of the fine print. A higher surcharge on wealthy Indians in the budget has spooked non-resident and overseas funds enough to erase 2.3 trillion rupees ($30 billion) in market value from companies in the S&P BSE Sensex over the past three sessions. The reason: the …

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• 9 July

  Fed chief heads to Congress with interest-rate cut in play

  

  Bloomberg Jerome Powell is likely to leave Federal Reserve interest-rate cuts firmly on the table when he appears before Congress this week, even though the latest US jobs report dialed down the urgency to ease borrowing costs. The Fed chairman, who has been hectored for months by President Donald Trump for not cutting rates, will probably repeat language from the …

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• 9 July

  Australian banks win regulator concession on capital buffer needs

  

  Bloomberg Australia’s banking regulator has softened its capital buffer requirement on the nation’s largest banks after they argued that there wasn’t sufficient market capacity available to raise the necessary funds. The so-called Big Four banks will need to lift their total capital by three percentage points of risk-weighted assets by January 2024, less than an initial target of four to …

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• 9 July

  Danske cuts profit forecast for 2019

  

  Bloomberg Danske Bank A/S, contending with negative interest rates and a money-laundering scandal, cut its outlook for profit this year after trading income fell short of expectations and compliance costs mount. The Danish lender now expects profit of $1.9 billion to 15 billion kroner, down from a previous range of 14 billion to 16 billion kroner. The company said second-quarter …

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