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Bloomberg UBS Group AG plans to lower the threshold for customer deposits that will be subject to a charge as the bank deals with the prospect of low and negative interest rates for the foreseeable future. Starting in July, the fee will apply to clients with deposits of more than 250,000 francs ($280,000) or the same amount in euros, according ...

Bloomberg Sandeep Uberoi, the former head of technology, media and telecom for Southeast Asia at Bank of America (BofA) Merrill Lynch, has joined Jungle Ventures as a strategic adviser. He will lead strategy and corporate development at the Singapore-based venture capital firm and overseee its portfolio companies across Southeast Asia and India, Uberoi said. His focus will include fundraising, partnerships ...

Bloomberg A group of HSBC Holdings Plc shareholders filed a resolution urging the bank to cut its support to the fossil-fuel industry. Amundi SA, Europe’s largest listed asset manager, and Man Group Plc, the world’s biggest publicly traded hedge fund firm, were among 15 institutional investors overseeing a combined $2.4 trillion that are backing the move, according to a statement ...

Bloomberg China plans to allow some commercial banks to start selling soured personal loans to distressed asset managers as soon as this month, according to people familiar with the matter. At a meeting by the official credit assets transfer center, banks and state-run bad-loan managers were asked to accelerate preparations to ensure a smooth start of the trial program in ...

Bloomberg The priciest equities in more than five years are proving no deterrent for stock traders in China, where the benchmark is now nearing its all-time high. The CSI 300 Index rises 2.9% on Tuesday to close at a 13-year high, taking this month’s gain to 7.4% — its best-ever start to a year. Shares of brokerages rallied, an indicator ...

Bloomberg US stocks were mixed and benchmark Treasury 10-year note yields rise to a 10-month high as investors mulled the prospects of the economic recovery and vaccine rollout. The S&P 500 was little changed, with the energy and consumer discretionary sectors gaining, while utilities and communication services were the biggest decliners. Europe’s Stoxx 600 Index traded little changed. The dollar ...

Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) — the organiser of the International Defence Exhibition (Idex 2021) and the Naval Defence Exhibition (Navdex 2021) — has received approval from the Abu Dhabi Public Health Centre for all badge holders to be exempted from the 10-day quarantine procedure on their arrival into Abu Dhabi. This step has been ...

Bloomberg Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months. Futures in New York lost 0.9% as the dollar’s gains reduced the appeal of raw materials such as oil that are priced in the currency. Both West Texas Intermediate and Brent crude are trading ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) has issued the lowest-ever yield on any five-year Mena bank USD issuance with a $500 million five-year Sukuk issued at MS+90bps (all-in yield of 1.411 percent) through FAB Sukuk Company Limited. The deal is FAB’s first USD benchmark offering and the first Sukuk issue globally in 2021. This offering was highly ...

Abu Dhabi / WAM The UAE has helped reunite two Jewish Yemeni families with their relatives whom they have not seen for decades. The first family of 15 members, were reunited in Abu Dhabi after UAE authorities facilitated the travel of family members from both Yemen and London. Yitzhak Fayez, 35, told the Emirates News Agency (WAM) that he had ...