April, 2021

• 13 April

  Indian bank fined for misselling its riskier debt to individuals

  Bloomberg India’s markets regulator fined Yes Bank Ltd. for claiming that riskier bonds it sold to individual investors were as safe as term deposits. Securities & Exchange Board of India ordered Yes Bank to pay $3.3 million after it “deliberately misrepresented” the Additional Tier 1 notes, “by suppressing the inherent risks of these bonds and distorting facts to mislead their ...

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• 13 April

  Goldman joins PineBridge to go bearish on Indonesian rupiah

  

  Bloomberg Indonesia’s central bank says the rupiah is “very undervalued” following a two-month slide. Investment banks and money managers are predicting further losses. Goldman Sachs Group Inc. says climbing US yields and a potentially firmer dollar will keep hurting Indonesian assets in the near term, while PineBridge Investments Asia Ltd. says the rupiah will keep sliding due to the global ...

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• 13 April

  Bond yields climb as US futures steady before CPI

  

  Bloomberg Bond yields climbed and US futures steadied as traders awaited inflation data, a Treasury auction and corporate earnings to assess the market outlook. Bitcoin hit a record. The yield on the 10-year US benchmark headed back toward 1.7%, with rates across Europe rising in sympathy. Gains in European shares were led by tech shares, while most US stock futures ...

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• 13 April

  Liquidity-obsessed China stock traders snub upbeat earnings

  

  Bloomberg Stock investors in China are ignoring a spate of recent bullish earnings as worries about further liquidity tightening continue to weigh on market sentiment. A 1200% jump in Tesla Inc-supplier Sichuan Yahua Industrial Group Co’s first-quarter earnings guidance was followed by a slump of as much as 7.7% in its shares on Tuesday. In the previous session, Suofeiya Home ...

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• 13 April

  Dubai Holding, UN partner to feed children across region

  

  DUBAI / WAM Dubai Holding has announced its strategic partnership with the United Nations World Food Programme (UNWFP), aimed at supporting child nutrition in countries across the region including Jordan, Lebanon, Syria and Yemen. Under this year-long strategic partnership, Dubai Holding will kick off the first joint campaign ‘A Meal for a Brighter Tomorrow’ this Ramadan up until Eid Al ...

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• 13 April

  Oil tops $60 as investors weigh near-term demand outlook

  

  Bloomberg Oil gained, topping $60 a barrel, as investors continued to assess the recovery in consumption globally. Futures in New York rose as the dollar fell, making commodities priced in the US currency more attractive. Federal Reserve Chair Jerome Powell said that the US economy was poised for stronger growth, but he cautioned that the pandemic remains a threat. That’s ...

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• 13 April

  Sanad closes $55 million financing deal with CBD

  

  ABU DHABI / WAM Sanad Capital, a wholly-owned subsidiary of Mubadala Investment Company and the global aerospace engineering and leasing solutions leader, has closed a $55 million debt financing deal with the Commercial Bank of Dubai (CBD), one of the UAE’s leading financial institutions. The first-ever collaboration between Sanad Capital and the Commercial Bank of Dubai will fund the purchase ...

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• 13 April

  UAE leaders wish Arab, Islamic nations as Ramadan begins

  ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan, has sent congratulatory messages to the Kings, Emirs and Presidents of Arab and Islamic nations, on the advent of the Holy Month of Ramadan. HH Sheikh Khalifa wished the leaders and their people continued good health and well-being, and further progress and prosperity for Arab and Islamic nations. ...

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• 13 April

  Walmart, India’s Adani to build massive warehouse

  

  Bloomberg Walmart Inc’s e-commerce unit, Flipkart Online Services Pvt, signed a pact with tycoon Gautam Adani’s conglomerate to build one of the largest retail warehouses in India as the US giant gears up to battle Amazon.com Inc and homegrown rivals in the South Asian nation. The partnership marks the entry of Adani, India’s fastest-rising billionaire, into the three-way fight for ...

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• 13 April

  Indonesia envoy: UAE has achieved outstanding development in 5 decades

  

  ABU DHABI / WAM Husin Bagis, Indonesian Ambassador to the UAE, stated that the UAE has achieved outstanding development over the past five decades and has become one of the most advanced countries in the world, due to its distinguished strategic vision based on foreseeing the future. In an interview with the Emirates News Agency (WAM), Bagis noted that the ...

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