May, 2023

• 11 May

  Clients return to Danske as it moves past laundering scam

  

  BLOOMBERG  Customers are coming back to Danske Bank A/S as Denmark’s largest lender is putting past scandals behind it. Danske’s retail customers are growing for the first time in 10 years in its home country, according to a Voxmeter poll of the Nordic nation’s 20 largest banks, cited by local media, including Finans. The lender attracted a net inflow of ...

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• 11 May

  Taiwan’s banks cut China exposure to record low

  

  BLOOMBERG  Taiwanese banks have slashed their exposure to China to the lowest level in at least a decade as increasingly fraught ties across the Strait deter lenders from expanding in the world’s second-largest economy. Locally registered banks in Taiwan have cut back their total lending, investments and interbank transactions in China to NT$1.1 trillion ($34.6 billion) as of the end ...

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• 11 May

  ING plans $1.65 billion buyback as rates fuel profit beat

  

  BLOOMBERG  ING Groep NV plans to buy back as much as €1.5 billion ($1.65 billion) worth of stock after higher interest rates helped lift profit past analysts’ expectations. Shares of the lender rose, after first-quarter results showed interest income and provisions for loan losses came in better than analysts had expected. Net income more than tripled from a year earlier, ...

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• 11 May

  US consumer borrowing climbs on surge in credit card balances

  

  BLOOMBERG  US consumer borrowing increased in March by more than expected on one of the largest spikes in credit-card balances on record. Total credit increased $26.5 billion, the most in four months, after a February gain of $15 billion, Federal Reserve data showed. The figure, which isn’t adjusted for inflation, compared with the median estimate of a $17 billion increase ...

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• 11 May

  US stock futures edge higher

  

  BLOOMBERG US equity futures ticked higher and European stocks rose as more investors said the Federal Reserve is likely to pause interest-rate hikes on the back of cooling inflation data. Contracts on the S&P 500 and the Nasdaq 100 advanced by about 0.3%. In US premarket trading, Walt Disney Co dropped after predicting a wider loss for its streaming service ...

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• 11 May

  Adani Enterprises weighs stock sale months after short-seller turmoil

  

  BLOOMBERG Less than four months after allegations of fraud by a short seller tipped his business empire into crisis, billionaire Gautam Adani is considering tapping equity markets in a major test of investor confidence. Adani Enterprises Ltd, the Indian tycoon’s flagship, and at least two other group companies plan to hold board meetings on May 13 to consider raising funds ...

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• 11 May

  RAK Ruler receives Ambassador of Canada

  

  RAS AL KHAIMAH / WAM HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, on Thursday received at his palace at the Saqr bin Mohammed City, Radha Krishna Panday, Ambassador of Canada to the UAE, who called on him on the occasion of the beginning of his tenure. He was accompanied by the ...

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• 11 May

  UAE President to make working visit to France

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, will travel to Paris, France on Thursday, 11th May, for a working visit. His Highness will meet with French President Emmanuel Macron. The visit is an opportunity for the two leaders to reinforce and expand the longstanding strategic partnership between the UAE and France, ...

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• 10 May

  Sultan Al Qasimi inaugurates revamped Sharjah Planetarium

  

  SHARJAH / WAM H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, opened, on Wednesday, the revamped, newly developed, and modernised Sharjah Planetarium at the Sharjah Academy for Space and Astronomy Science and Technology, in the presence of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of ...

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• 10 May

  CBUAE’s robust policy framework supports financial stability: Mansour bin Zayed

  

  ABU DHABI / WAM The Central Bank of the UAE (CBUAE)’s robust policy framework provided the foundation to achieve the targeted economic outcomes for the country, as the UAE recorded an estimated GDP growth of 7.6% in 2022, affirmed His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister of the Presidential Court, and Chairman of ...

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