January, 2021

• 21 January

  BofA plans to buy back $2.9bn of stock in Q1

  

  Bloomberg Bank of America Corp. (BofA) said it plans to repurchase $2.9 billion worth of stock this quarter, the most it can under new Federal Reserve guidelines. The buybacks come on top of its 18-cent dividend and $300 million in repurchases that offset stock awards, the bank said in a statement that came ahead of its fourth-quarter results. Bank of ...

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• 21 January

  Zimbabwean banks shut 17% of their branches

  Bloomberg Zimbabwean banks have closed about 17% of their branches as an escalation in the number of coronavirus infections spurs lenders to shut their doors for the time being and accelerate a digitisation drive. Of the 300 branches in the country, 10% were permanently closed last year due to the digitisation push. An additional 23 branches are now temporarily under ...

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• 21 January

  Surge in bad debt set to worsen India shadow bank woes

  

  Bloomberg India’s troubled shadow banks face mounting challenges to a nascent recovery from pandemic, with their asset quality set to deteriorate further as flagged by the financial regulator. Non-performing assets already swelled in the most recent data to the highest in at least five years, at 6.3% as of March 2020 even before the worst of the pandemic impact, the ...

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• 20 January

  Europe stocks rise with futures; dollar declines

  

  Bloomberg European stocks tracked US equity futures higher on Wednesday, buoyed by earnings and hopes for more stimulus. The dollar extended its retreat. Nasdaq futures rallied and tech shares led gains in the Stoxx 600 Index following strong earnings from Netflix Inc. and chipmaker ASML Holding NV. S&P 500 contracts edged higher a day after US Treasury Secretary nominee Janet ...

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• 20 January

  World’s best stock market under Trump is Taiwan with 92% rally

  

  Bloomberg Donald Trump’s presidency promised a more confrontational approach towards China. While he certainly achieved that, he also helped create a winner in Taiwan’s stock market. The Taiex benchmark surged 92% in US dollar terms since Trump’s inauguration on January 20, 2017, the best performance among 93 global gauges tracked by Bloomberg and far beating the MSCI All-Country World Index’s ...

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• 20 January

  India stocks climb as growth prospects attract investors

  Bloomberg India stocks rise, buoyed by prospects of earnings growth. The S&P BSE Sensex climbed 0.3% to 49,568.70 as of 10:01 am in Mumbai, while the NSE Nifty 50 Index advanced 0.4%. Both measures are set to gain for a second day. Foreign fund purchases have pushed India’s key equity gauges to successive new records this year, while all five ...

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• 20 January

  Unified stances in UNSC needed to resolve Arab world’s issues: Gargash

  

  ABU DHABI / WAM Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, said that the Arab world’s problems cannot be resolved without key players on the regional and global scene collaborating to strengthen “the spirit of solidarity and unity while addressing the menacing threats to peace and security.” This came as the UAE minister delivered the statement ...

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• 20 January

  IEA slashes oil demand forecast as new lockdowns temper recovery

  

  Bloomberg The International Energy Agency (IEA) lowered forecasts for global oil demand as renewed lockdowns to contain the pandemic temper the recovery expected this year. “The global vaccine roll-out is putting fundamentals on a stronger trajectory for the year, with both supply and demand shifting back into growth,” the agency said in a monthly report. “But it will take more ...

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• 20 January

  Economy of future is green economy: DoE chairman

  

  ABU DHABI / WAM Addressing climate change is the key to a healthy recovery and to building a sustainable future because the economy of the future is a green economy and the society of the future is a green society, said Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy (DoE) in his keynote address at the ...

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• 20 January

  Mansour bin Zayed chairs EIA’s board meeting

  Abu Dhabi / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, chaired the regular meeting of the Board of Directors of the Emirates Investment Authority (EIA) held here at Qasr Al Watan. During the meeting, Sheikh Mansour highlighted the authority’s key role in determining and coordinating the federal government’s fund investment policy, ...

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