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HSBC Holdings Plc and Standard Chartered Plc raised their main lending rates in Hong Kong again on Thursday, a move that will push borrowing costs higher for property owners as the economy continues to face massive strain. HSBC, the city’s biggest lender, said it is raising its prime rate by 25 basis points to 5.375% after the Hong Kong Monetary ...

Norway’s central bank slowed the pace of interest-rate increases amid signs the economy is cooling, delivering a move forecast by just half the economists surveyed. Norges Bank lifted its key deposit rate on Thursday by 25 basis points to 2.5%, the smallest increase in its benchmark rate since June. The hike brings the rate to its highest level since 2009, ...

The Swiss National Bank (SNB) reported a loss of 142.4 billion francs ($143 billion) for the first nine months as turmoil in global currency markets took a toll on the value of its foreign-exchange portfolio. The central bank’s foreign-currency positions resulted in a loss of 141 billion francs, and it also saw a valuation loss on its gold holdings and ...

US financial institutions reported nearly $1.2 billion on likely ransomware-related payments last year, most commonly in response to breaches originating with Russian criminal groups, according to the Treasury Department. The payments more than doubled from 2020, underscoring the pernicious damage that ransomware continues to wreak on the private sector. The Financial Crimes Enforcement Network, or FinCEN, said its analysis “indicates ...

The naira slumped to a record low against the dollar on the widely used illegal market as Nigerians rushed to buy greenbacks a week after the central bank said it would redesign higher-value notes. Currency traders in the unauthorised parallel market offered as much as 830 naira per dollar in Lagos, said Umar Salisu, a bureau de change operator who ...

European natural gas advanced again with traders focusing on weather forecasts, while outages at key facilities highlight the risk of potential winter shortages. Benchmark futures jumped as much as 10%, extending their rebound from losses earlier in the week, with temperatures dropping closer to seasonal levels after an unusually mild October. Some forecasts also point to colder-than-normal conditions in northwest ...

Adani Enterprises Ltd., the flagship firm for billionaire Gautam Adani’s conglomerate, posted an almost 117% rise in quarterly profit, giving it more firepower to boost investments in numerous new businesses it’s nurturing. The Ahmedabad-based company reported a net income of 4.6 billion rupees ($55.5 million) for the quarter ended Septmeber 30, it said in a filing on Thursday, compared to ...

Daniel Moss It seems 2023 is arriving early. The race to raise interest rates to levels that have a hope of quelling inflation is entering a less punishing phase. It may be only a slight stretch to say the end of the most rapid monetary tightening in at least a generation is coming into view. Here’s hoping the troubled world ...

Joshua Green Elon Musk took control of Twitter on Friday, adding to the growing misery of Democrats heading into the midterm elections, not least because he’s made clear he’ll probably allow Donald Trump back onto the platform. A person familiar with the situation told Bloomberg News that Musk “intends to do away with permanent bans on users because he doesn’t ...

Abu Dhabi / WAM   The United Arab Emirates has made significant improvements in developing and strengthening its occupational radiation protection infrastructure since the 2015’s Occupational Radiation Protection Appraisal Service (Orpas) visit to the UAE, according to the experts of the International Atomic Energy Agency (IAEA) who concluded a week-long follow-up review of the UAE’s radiation protection arrangements. At the UAE ...