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Bloomberg The billionaire Hinduja family paid a premium to boost its stake in IndusInd Bank Ltd., a sign of confidence in the Indian private-sector lender as concerns over its asset quality ease. IndusInd International Holdings Ltd., which represents the bank’s founding Hinduja clan, completed a rights issue to fund the conversion of warrants to shares in the Mumbai-based bank, it ...
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February, 2021
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17 February
JPMorgan offers firms an exit for costly state Covid bailouts
Bloomberg JPMorgan Chase & Co. is working with about 10 stressed or distressed borrowers in Europe hoping to lower cost of government bailout loans in debt market, according to senior bankers. Most of the companies are trying to offload loans made last year to help them survive the pandemic and lock in lower rates, Daniel Rudnicki Schlumberger, the bank’s co-head ...
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17 February
Goldman pledges $25m to historically black colleges
Bloomberg Goldman Sachs Group Inc. said it would commit $25 million to a five-year program aiding historically black colleges and universities. In its first year, the initiative will include 125 students who will get training in fundamental finance skills, the New York-based company said in an emailed statement. “Diversity is an imperative for our organisation,†Chief Executive Officer David Solomon ...
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17 February
Ex-UniCredit CEO Mustier to plan SPAC
Bloomberg Ex-UniCredit SpA Chief Executive Officer Jean Pierre Mustier plans to raise funds for a special purpose acquisition company (SPAC), the latest former top banker to take advantage of the trend for blank check vehicles. Mustier, who left UniCredit last week after a boardroom power struggle, plans to work on the SPAC with former Bank of America Corp. executive Diego ...
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17 February
BOJ must avoid ETF buys fuelling stock bubble: Ex-official
Bloomberg A three-decade high for Japan’s soaring stocks is adding to pressure on the Bank of Japan (BOJ) to tweak its buying of exchange-traded funds (ETFs), according to the former head of its financial markets department. “Shares could be rising on a bubble and the BOJ could be helping inflate that bubble,†Hiromi Yamaoka said in an interview, the same ...
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17 February
Treasury yields hold near one-year high; stocks drop
Bloomberg Treasury yields held near their highest in a year on Wednesday, while European stocks slipped as investors assessed the bond selloff and a busy day for earnings. The Stoxx 600 Index dropped for a second day, weighed down by retailers, despite some positive corporate news. Akzo Nobel NV rises after beating estimates and announcing plans to repurchase 1 billion ...
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17 February
Won falls prey to outflows as locals join foreigners’ exodus
Bloomberg At first glance, the weakness in South Korea’s won is an anomaly. Risk appetite is picking up but the currency is heading south. The won, which is susceptible to swings in global sentiment, has dropped almost 2% versus the dollar since the start of the year. It’s underperforming all its emerging Asian peers just as global growth bets are ...
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16 February
Economic, commercial activities in UAE continue positive run in Feb
ABU DHABI / WAM Economic and commercial activities in the UAE continued their positive run in the first half of February 2021, reflecting the growing confidence of local and foreign investors in the national economy. Recent statistics issued by the National Economic Register showed that over 4,300 new licences for economic and commercial activities around the country were issued in ...
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16 February
UAE ministry implements 129 projects worth AED11.8 billion
DUBAI / WAM The Ministry of Energy and Infrastructure has revealed that it is implementing 129 development projects worth approximately AED11.8 billion, as part of the ministry’s five-year plan (2018-2023). Hassan Mohammed Juma Al Mansouri, Under-Secretary of the Ministry of Energy and Infrastructure, told the Emirates News Agency (WAM), that the nationwide developments include constructing 70 government buildings at a ...
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16 February
Abu Dhabi, Tel Aviv chambers ink cooperation agreement
ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a cooperation agreement with Tel Aviv Chamber of Commerce (TACC), represented by the Federation of Israeli Chambers of Commerce, during a virtual meeting, to increase trade cooperation in a number of business-related sectors. According to the agreement, both sides will jointly work to extend bridges ...
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