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Bloomberg Ethiopia’s northern Amhara province urged its adults to enlist in military and fight rebels advancing from neighbouring Tigray region, potentially intensifying the nine-month conflict. Amharans of above 18 years should fight for the “existence of the region,” Chief Administrator Agegnehu Teshager said on a regional broadcaster weeks after Tigray fighters crossed into towns in Amhara and Afar states. The ...

Bloomberg Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy if the recovery fades. Banks including Natwest Group Plc, HSBC Holdings Plc, Barclays Plc and Lloyds Banking Group Plc are close to completing the technical steps necessary to implement negative ...

Bloomberg Yes Bank Ltd’s top executive said the Indian lender is putting its problems behind it and will focus on earnings growth after profit surged in the first quarter. “We have been able to take care of the legacy issues,” Prashant Kumar, the bank’s chief executive officer, said in a Bloomberg TV interview on Monday. “Going forward, there will be ...

Bloomberg JPMorgan Chase & Co is planning to more than double the advisers in its traditional broker business as the Wall Street giant plots an expansion in wealth management amid intensifying competition for rich clients. The bank aims to hire more than 500 advisers in coming years, bringing its total in the unit to 1,000, said Kristin Lemkau, who oversees ...

Bloomberg Kotak Mahindra Bank Ltd posted an increase in first-quarter profit buoyed by a jump in income from non-lending businesses, including fees for services, even as its bad loan ratio widened because of a deadly second wave of Covid-19 infections during the period. Net income at India’s fourth-largest private lender was 16.42 billion rupees ($220 million), a 32% jump from ...

Bloomberg NatWest Group Plc is set to take a minority stake in Permanent TSB Group Holdings Plc as part of a potential deal to offload $8.9 billion of assets to the Irish lender. The two banks signed a non-binding memorandum of understanding to work together on an agreement that would see Permanent TSB take over much of NatWest’s Ulster Bank ...

Bloomberg Three years after the world learned of Danske Bank’s central role in one of Europe’s biggest money-laundering scandals, the cost of that stunning failure of governance is still palpable. Denmark’s biggest bank, once among the Nordic region’s most reputable companies, has yet to fully resurrect itself from a dirty money affair that’s made it the target of ongoing criminal ...

Bloomberg Stocks fall with US futures on Monday at the start of a busy week of earnings and policy updates, with China’s widening technology crackdown weighing on risk sentiment. Treasuries rise. Contracts on key US gauges slipped following a record close for Wall Street. European equities fall from an all-time high as carmakers and banks led losses. Shares in China ...

Bloomberg Some of the assets most exposed to fears around the spread of the delta variant are luring traders with tempting signals of strength and stability. Emerging-market corporate earnings have outpaced estimates for the first time in 30 months amid an economic rebound in developing nations. Meanwhile, MSCI’s index of emerging currencies remains up this year, defying the declines seen ...

DUBAI / WAM Dubai’s real estate sector recorded 6,388 sales transactions in June, worth AED14.79 billion, according to the 16th edition of Mo’asher, Dubai’s official sales price index. This was the highest value of sales in eight years, noted officials. The sales transactions in June 2021 were 44.33 percent higher, in terms of volume, and 33.2 percent higher in value ...