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In the latest reflection of the Kremlin’s expanding war effort, bomb shelters across Russia are being brought back to life after more than three decades of neglect since the end of the Cold War. State workers are quietly checking basements and other protected facilities, repairing and cleaning installations not used since the Soviet era, according to people familiar with the ...

Serbia will probably hike borrowing costs as the fastest inflation in more than a decade overshadows the risks of a sharp downturn in economic growth. The National Bank of Serbia will lift its benchmark interest rate by 50 basis points to 4.5%, according to nine of 16 economists in a Bloomberg survey. Five expect a quarter-point increase and two see ...

Credit Agricole SA said its regional-bank shareholders would buy up to €1 billion ($1 billion) of the lender’s shares by the first half next year, in a move that takes advantage of depressed prices amid worries over the economic outlook. The Paris-based bank said the regional lenders, through the holding entity SAS Rue La Boetie, would increase their stake to ...

Credit Suisse Group AG promoted executives in its Asia-Pacific wealth management unit and removed a layer of hierarchy in a revamp after recent senior departures in the group. “We have flattened the organisational structure,” Benjamin Cavalli, the bank’s regional wealth head, said in a memo, while elevating market group heads who will report to him. Cavalli said he made the ...

Andrea Felsted Only three months after it emerged that Estee Lauder Cos. was in talks to buy Tom Ford for $3 billion, it’s now being reported that Gucci-owner Kering SA is in advanced discussions to acquire the American designer’s eponymous brand. Kering’s challenge with the label, known for its pricey fragrances and mini-dresses, would be almost the inverse of Estee ...

Eduardo Porter Has the Biden administration figured out how to stanch the flood of desperate migrants overflowing across the southwestern border? These are early days, but the deal last month whereby Mexico would take back Venezuelans nabbed trying to enter the US illegally while the US would allow 24,000 Venezuelans into the country for up to two years – as ...

US stock-index futures rise, while Treasuries slipped, as investors remained on the edge before a report projected to show inflation in the world’s largest economy moderated for a fourth successive month. December contracts on the S&P 500 and Nasdaq 100 added at least 0.3% each, a day after the underlying indexes tumbled to one-week lows amid a blurry midterms verdict ...

A panel set up by India’s capital market regulator wants exchanges, clearing houses and depositories to revamp their compliance and risk management structures to minimise governance lapses. A committee headed by G. Mahalingam, a former central banker and a ex- whole time member at the Securities and Exchange Board of India (Sebi), recommended market infrastructure institutions (MII) should separate functions ...

Abu Dhabi / WAM   AD Ports Group, the leading facilitator of global trade, logistics, and industry, and International Development Bank (IDB) signed an MoU to review opportunities for ports and logistics projects that could enhance trade flows between the UAE and Iraq. The agreement was signed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports ...

Abu Dhabi / GULFTIME    The Abu Dhabi Securities Exchange (ADX) is celebrating a year of unprecedented success for its derivatives trading market. In just 12 months since its launch in November 2021, the ADX derivatives market has grown to become the most liquid derivatives market in the Arab region, while being the youngest. In its first year, it has achieved ...