China’s central bank says policy will be responsive to changes

  Bloomberg China’s central bank pledged to keep its monetary policy flexible and responsive to changing economic conditions, with an overriding objective of achieving stability. The People’s Bank of China will adjust the strength, pace and focus of its monetary policy as needed, the central bank said. The statement was the first in a series planned in relation to the ...

Read More »

German yields slide below zero with ECB rate-hike bets on ice

  Bloomberg German bonds surged on Tuesday, sending the benchmark yield below zero for the first time in a month as rates traders bet the European Central Bank will put off raising interest rates until next year. The repricing comes as investors come to terms with the fallout from Russia’s invasion of Ukraine and the risks it poses to the ...

Read More »

Commerzbank raises payout promise for shareholders

  Bloomberg Commerzbank AG raised the prospect of higher shareholder payouts and lifted a key profit target as the turnaround under Chief Executive Officer Manfred Knof gathers pace. The German lender on Tuesday said it may pay out as much as 5 billion euros ($5.6 billion) to shareholders until 2024, compared with up to 3 billion euros promised last year. ...

Read More »

Barclays hires for electronic trading role

  Bloomberg Barclays Plc named JPMorgan Chase & Co veteran Urvashi Batra as its head of equities electronic trading for the Americas. Batra’s page on the Financial Industry Regulatory Authority BrokerCheck website and her LinkedIn page both show the move, and Barclays formally announced the hire in a statement Tuesday. In her new role, she’ll oversee electronic equities client offerings ...

Read More »

Hong Kong banking regulator lobbies to cut Covid quarantine

Bloomberg Hong Kong’s banking regulator told finance executives in recent weeks that it’s lobbying the government to shorten the strict hotel quarantine placed on incoming travelers as it seeks to prop up confidence in the city’s status as a financial hub. Hong Kong Monetary Authority told a group of banks that it will start engaging with the government to reduce ...

Read More »

European stocks fall with US equity futures; crude oil rises

  Bloomberg A fresh wave of volatility hit global markets as the conflict in Ukraine intensified amid mounting penalties against Russia. Stocks in Europe fell along with US equity futures, while bonds gained and oil pushed sharply higher. Utilities, car makers and travel stocks lead a decline of more than 1% in the Stoxx Europe 600 index as traders assessed ...

Read More »

Gold climbs as Russia sanctions fuel fears over global economy

Bloomberg Gold advanced as sweeping sanctions on Russia for its invasion of Ukraine heightened fears of a hit to global economic growth. Bullion surged as much as 2.2% after penalties were placed on the Bank of Russia to prevent it from using foreign reserves to blunt sanctions. They also excluded some Russian lenders from the SWIFT messaging system that underpins ...

Read More »

Bitcoin advances in tentative comeback as haven asset

  Bloomberg Bitcoin advanced amid mounting signs that the war in Ukraine is bolstering demand for cryptocurrencies. The largest cryptocurrency rose 4.3% to $43,453 in London, gaining along with other major digital tokens. A fresh wave of turbulence hit global markets on Tuesday as the conflict in Ukraine intensified amid mounting penalties against Russia, as stocks in Europe fell along ...

Read More »

UAE cabinet OKs AED12b budget for Sheikh Zayed Housing Programme

DUBAI / WAM Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet meeting adopted a number of initiatives and legislations aimed at further developing government work. The meeting was held at Expo 2020 Dubai, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid ...

Read More »

EGA’s 2021 net profit soars record 1,140% to AED 5.5b

  DUBAI / WAM Emirates Global Aluminium (EGA) on Monday reported a net profit of AED5.5 billion ($1.5 billion), an increase of 1,140 percent compared to AED445 million ($121 million) in 2020. EGA reported record adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (adjusted EBITDA) more than doubled to AED9.0 billion ($2.5 billion) for 2021, from AED4.1 billion ($1.1 billion) ...

Read More »
Send this to a friend