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Bloomberg The coronavirus pandemic has led to a slowdown in developing physical infrastructure as countries’ economic health deteriorates, posing a challenge for the Asian Infrastructure Investment Bank (AIIB), its president said. “What worries me, what worries the bank is the deterioration of the economic situation of some of our members,” Jin Liqun said in an interview with Bloomberg Television on ...

Bloomberg Nomura Holdings Inc is hiring bankers for its mergers and acquisitions business in Japan as a sharp rebound in domestic deal-making vaults the nation’s biggest securities firm to the top ranks of global advisers. “We’re recruiting people more eagerly than usual,” global M&A head Shunichi Tsunoda said in an interview. Consultations on local deals are up about 30% to ...

Bloomberg Deutsche Bank AG is in advanced talks to sell a technology services unit to Tata Consultancy Services Ltd, Asia’s biggest software exporter by market value, people with knowledge of the matter said. The discussions about Bonn-based Postbank Systems AG are expected to result in a deal with the Indian company by the end of the year, the people said, ...

Bloomberg Kotak Mahindra Bank, backed by Asia’s richest banker, is exploring a takeover of smaller Indian rival IndusInd Bank, people with knowledge of the matter said, a move that would create the nation’s eighth-largest financial firm by assets. Uday Kotak, founder and chief executive officer of Kotak Mahindra, is looking at the possibility of an all-stock acquisition, one of the ...

Bloomberg UBS Group AG plans to raise the fixed salaries for some of its more senior employees by as much as 20% to prevent poaching by competitors. A review at Switzerland’s largest bank found differences in base pay among employees in the same roles, and when compared with competitors, people familiar with the plans said. As a result, UBS plans ...

Bloomberg European stocks and the US futures dropped as coronavirus infections continued to climb and investors doubted that Washington lawmakers will reach an economic stimulus package anytime soon. German software maker SAP SE plunged 20% after cutting its revenue forecast, saying that pandemic will continue to hurt business. Investors sought protection in haven assets. Treasuries rise, sending yields on the ...

Bloomberg India stocks fall as an elusive US stimulus deal kept sentiment muted in the region while investors closely watched local companies’ earnings. The S&P BSE Sensex lost 1.6% to 40,042.70 as of 2:19 pm in Mumbai, while the NSE Nifty 50 Index also declined by the same magnitude. “It is predominantly global factors at play here with US futures ...

Dubai / WAM Under patronage of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, the World Government Summit Foundation, in partnership of the United Nations, is organising high-level virtual celebratory event entitled “75 Minutes for Global Collaboration” on Monday. The event will address the importance of international cooperation, ...

ABU DHABI / WAM As part of the Abu Dhabi government’s efforts to support the emirate’s real estate sector and public-private partnership initiatives, the Abu Dhabi Executive Committee directs the development of a public-private partnership framework to implement capital projects in the emirate. In this context, ADQ, holding company with a broad portfolio of major enterprises, spanning key sectors of ...

DUBAi / WAM Ahmed Mahboob Musabih, Director-General of Dubai Customs, held a videoconference with a Swiss delegation, headed by Frank Eggmann, Swiss Consul General to Dubai, to discuss expanding mutual economic cooperation and trade between Dubai and Switzerland. The two sides discussed the stimulus packages launched by the Federal government and Dubai government to support the business activity and to ...