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BLOOMBERG Vietnam’s central bank unexpectedly cut the rate at which it lends to banks, underscoring the need to support the economy amid a bleak global outlook and slowing domestic demand. The State Bank of Vietnam reduced the discount rate to 3.5% from 4.5%, according to a statement on its website. The authority also reduced the overnight lending rate in the ...

BLOOMBERG Credit Suisse Group AG sought to arrest a collapse in investor confidence by opening a 50 billion Swiss franc ($54 billion) credit line with the country’s central bank and offering to buy back debt, as executives and government officials plot the next steps for the troubled lender. Shares in Credit Suisse initially surged as much as 40% before paring ...

BLOOMBERG The leaders of South Korea and Japan pledged at a rare summit in Tokyo their readiness to end a long-simmering dispute that had hurt security and trade tries, and work with their mutual US ally to counter threats from the likes of North Korea. President Yoon Suk Yeol smiled as he shook hands with Prime Minister Fumio Kishida on ...

BLOOMBERG Poland will send four Soviet-era fighter jets to Ukraine in the coming days as the nation moves ahead with deliveries to bolster Kyiv’s air power, President Andrzej Duda said. “The decision has been made” and more MiG-29 models currently under maintenance are on the way, Duda told reporters in Warsaw on Thursday. The Polish government said this week that ...

BLOOMBERG President Xi Jinping promoted China’s development approach in a speech to a gathering of political groups, highlighting his growing willingness to tout his nation’s system. “The Chinese path to modernisation is a sure path to build a stronger nation,” Xi said in video remarks to the Dialogue with World Political Parties, according to the official Xinhua News Agency. It’s ...

BLOOMBERG Rishi Sunak will give UK lawmakers a chance next week to vote on new post-Brexit trading arrangements for Northern Ireland, as the prime minister seeks to crystallise his agreement with the European Union (EU). Regulations to bring in the so-called Stormont Brake — the portion of the new deal giving Northern Ireland’s lawmakers a potential veto over changes to ...

ABU DHABI / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, held its first Board of Directors meeting in 2023, chaired by Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the Board at the company’s headquarters in Dubai. The meeting discussed broader alignment to the initiatives outlined under the “We in the UAE 2031” ...

DUBAI / WAM The Dubai International Humanitarian Aid and DevelopmentConference and Exhibition (Dihad 2023) concluded its 19th edition yesterday under the theme: “Energy and Aid, Capitalising on Available Resources.” More than 828 leading local and international humanitarian NGOs, charities, aid suppliers, and many more gathered at the Dubai World Trade Centre (DWTC) for three days to discuss solutions for critical ...

DUBAI / GULF TIME The distinctive livery of the world’s largest international airline, Emirates, has undergone a refresh. Sir Tim Clark, President Emirates Airline said: “Aircraft livery is the most instantly recognisable brand real estate for any airline. It’s a visual representation of our unique identity, something we wear proudly, and display in all the cities we fly to around ...

BLOOMBERG The US has told the Chinese owners of the video-sharing app TikTok that they must sell their shares or risk the app being banned in the US, people familiar with the matter said. The Treasury Department is leading the discussion though the Committee on Foreign Investment in the US, or Cfius, and made the demand recently to Tiktok’s owner, ...