April, 2021

• 20 April

  Prime-brokerage heads of Credit Suisse to leave

  

  Bloomberg Credit Suisse Group AG’s prime-brokerage co-heads are leaving the bank in the wake of its $4.7 billion loss from the implosion of Archegos Capital Management, according to a company memo. John Dabbs and Ryan Nelson will step down immediately while assisting Credit Suisse through mid-May on an orderly transition, the bank said in the memo. Roger Anerella was appointed ...

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• 20 April

  IPO boom prompts ICICI to hire more investment bankers

  

  Bloomberg India’s second largest private lender ICICI Bank Ltd. is making its biggest hiring push in investment banking and institutional equities in four years, as it anticipates a rise in companies going public. The Mumbai-based firm plans to add five mid-to-senior level hires in each of the two units, which currently have 130 bankers in total, according to Ajay Saraf, ...

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• 20 April

  Yuan adds renewed momentum to global reflation trade

  

  Bloomberg China’s yuan is overvalued, and that could end up stoking global inflation. The yuan ranks as the most overvalued among 32 major currencies in real effective exchange rate terms, an analysis of JPMorgan Chase & Co. indexes show. As Chinese exports are ubiquitous across a range of goods, the strength could translate into quicker inflation globally, adding to investor ...

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• 20 April

  Bank Indonesia holds key rate unchanged

  Bloomberg Indonesia’s central bank left its benchmark interest rate unchanged, and cut its outlook for economic growth, as it seeks to support an uneven recovery as foreign outflows pressure country’s currency. Bank Indonesia kept the seven-day reverse repurchase rate at a record low of 3.5% on Tuesday, as expected by all 35 economists surveyed by Bloomberg. The central bank said ...

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• 20 April

  US futures fluctuate amid earnings; oil, yields climb

  

  Bloomberg US futures fluctuated, struggling for direction as investors weighed corporate earnings and recent spikes in virus cases. A weaker dollar boosted oil, while government bond yields climbed. Contracts on the S&P 500 turned lower on Tuesday, while those on the Nasdaq 100 held a modest gain. A seventh-straight session of declines in the US dollar allowed oil to breach ...

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• 20 April

  IBM shares jump on biggest revenue growth since 2018

  

  Bloomberg International Business Machines Corp. (IBM) shares jumped in extended trading after the company reported its biggest revenue gain in eleven quarters, driven by demand for cloud services and suggesting Chief Executive Officer Arvind Krishna’s turnaround plan is starting to bear fruit. Sales increased 1% to $17.7 billion in the three months ended March 31, the Armonk, New York-based company ...

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• 20 April

  UAE cabinet OKs formation of ‘sports coordination council’

  

  DUBAI / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the formation of the “Sports Coordination Council” and the reshuffling of the boards of several federal councils, under the framework of advancing the work of the Federal Government. The council – ...

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• 19 April

  Oil near $67 as dollar dips, India virus cases surge

  

  Bloomberg Oil steadied near $67 a barrel as the benefits of a weaker dollar were offset by the sweep of the coronavirus pandemic across key importer India. Brent futures traded little changed, paring an earlier decline as the dollar slipped, making commodities priced in the currency more attractive. Yet India reported record Covid-19 infections on Monday in a further blow ...

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• 19 April

  UAE’s first secure cloud tech program launched

  ABU DHABI / WAM Technology Innovation Institute (TII), the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), on Monday announced that its Cryptography Research Centre (CRC) has launched the UAE’s first secure cloud technologies programme which will boost advanced technologies that enhance data privacy and cloud encryption schemes. TII said that its secure cloud technologies programme aims ...

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• 19 April

  Strata signs deal to strengthen PPE supply chain between UAE, Japan

  

  Al Ain / WAM Strata Manufacturing, the advanced manufacturing company wholly-owned by Mubadala Investment Company, strengthened global distribution of its “Made with Pride in the UAE” line of personal protective equipment (PPE) products after agreeing a landmark Memorandum of Understanding (MoU) with the Japanese administrative jurisdiction of Tokushima Prefecture. Signed during a virtual ceremony between Ismail Ali Abdulla, Strata CEO; ...

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