May, 2021

• 25 May

  ECB’s Lagarde signals no major policy shift at next month’s meeting

  

  Bloomberg European Central Bank (ECB) President Christine Lagarde played down the possibility of a major change away from the current stimulus settings when policy makers meet next month. “It’s far too early and it’s actually unnecessary to debate longer-term issues,” Lagarde said at a news conference in Lisbon, responding to a question on whether Europe’s economic rebound may lead the ...

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• 25 May

  China’s central bank to maintain exchange rate ‘basically stable’

  

  Bloomberg China’s central bank said it will maintain the exchange rate of the yuan at “basically stable” levels after recent comments by its officials who suggested the currency be allowed to appreciate and authorities should eventually let up on controlling it. The future trend of the exchange rate will be decided by supply and demand, as well as changes in ...

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• 24 May

  Deutsche taps Barclays’s Ross to run UK investment banking

  Bloomberg Deutsche Bank AG has appointed a new head of investment banking coverage in the UK and Ireland. Daniel Ross will join the German lender in September from Barclays Plc, where he was vice chairman of UK investment banking and global head of media, according to a statement. Based in London, Ross will report to Patrick Frowein and Berthold Fuerst, ...

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• 24 May

  CBZ mulls Victoria Falls stock exchange listing

  

  Bloomberg CBZ Holdings Ltd, the biggest bank in Zimbabwe, plans to list on the US dollar-denominated stock exchange in Victoria Falls, as part of efforts to ignite foreign interest in the lender. The firm is “actively exploring” a listing, which could address concerns for foreign investors of having funds stuck in the country, Chief Executive Officer (CEO) Blessing Mudavanhu said in ...

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• 24 May

  UniCredit to skip coupon payment after 2020 loss

  Bloomberg With one of his first major moves at the helm of UniCredit, Andrea Orcel added tens of millions to bank’s bottom line. The question is whether the cost will be even higher in the long run. UniCredit’s new CEO shocked investors with a decision to skip a coupon payment on $3.6 billion of hybrid bonds due later this month, an ...

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• 24 May

  Crypto lender mistakenly deposits Bitcoin into user accounts

  

  Bloomberg BlockFi Inc., a crypto-lending startup, mistakenly sent some users Bitcoin as part of a promotion and is working on reversing it. The company made what it called incorrect promo payouts in Bitcoin instead of US dollars to certain customers. Though BlockFi worked on reversing them, a number of recipients withdrew the coins before the company could backpedal. (It was ...

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• 24 May

  US futures climb; China’s stance weighs on metals

  

  Bloomberg US equity-index futures gained as investors wagered that the Federal Reserve will maintain monetary support in coming months while a rebound in the world’s biggest economy stokes inflation fears. Contracts on the S&P 500 and Nasdaq 100 gauges pointed to gains after US stocks closed mixed. The dollar and Treasuries were steady. Bitcoin advanced above $35,000 following another weekend ...

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• 24 May

  Malaysia stocks rise as full lockdown avoided to allow recovery

  

  Bloomberg Malaysia’s stocks climbed from a three-month low after the government resisted imposing a full lockdown to avoid derailing a nascent recovery in the economy. The FTSE Bursa Malaysia KLCI Index rises as much as 0.95% on Monday, snapping a three-day loss. Sime Darby Bhd. and Axiata Group Bhd led gains in the gauge. The government shortened business working hours ...

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• 24 May

  UAE welcomes Palestine-Israel ceasefire, mourns loss of lives

  

  NEW YORK / WAM The UAE stressed that it has been gravely concerned by the escalating violence in Israel and the Occupied Palestinian Territory. The UAE welcomed the news of a ceasefire agreement and expressed hope that it is durable, lasting, and might contribute to resumption of a credible wider peace process while restoring calm and building confidence between the ...

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• 24 May

  World’s largest production superyacht launched in Dubai

  

  Dubai / WAM HH Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council, on Sunday unveiled the Majesty 175, the world’s largest composite production superyacht, at its world premiere at Dubai Harbour. Pushing the boundaries in superyacht production through its lightweight material that enables effortless cruising in low-draft waters, the Majesty 175, fully manufactured in ...

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