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Bloomberg Australia will make it easier for banks to approve mortgages and small-business loans to help the economy recover from its first recession in almost 30 years. Shares of the nation’s biggest lenders surged. As part of a sweeping overhaul of so-called responsible lending obligations, the government will allow banks to rely on income and spending information provided by borrowers ...

Bloomberg Commerzbank passed over internal front-runners in favour of an executive with a reputation for tough cuts at its biggest rival to push through one of the largest restructuring programs in its history. Manfred Knof, 55, head of German retail banking at Deutsche Bank AG, takes over from Martin Zielke as Commerzbank chief executive officer on January 1, according to ...

Bloomberg Singapore’s central bank is in talks with lenders about extending the nation’s debt moratorium programme beyond December 31 to provide extra relief for borrowers hit by the fallout from the coronavirus pandemic. One of the key measures being discussed by the Monetary Authority of Singapore (MAS) and local banks is the possibility of lengthening the debt relief program, with ...

Bloomberg The Federal Reserve is about to decide whether to extend a ban on banks buying back their own stock. It may shape up to be pivotal for year-end funding risks. If the Fed keeps its ban on buybacks in the decision due by end of September, banks will be stuck holding capital until next year and will “flood” the ...

Bloomberg Indian bond traders’ worst fears may be realised this week if Prime Minister Narendra Modi’s government announces a further increase to its mammoth borrowing plan. Traders expect the government to lift its borrowing estimate for the October-March period to six trillion rupees ($81.5 billion) from the existing 5 trillion rupees, according to 10 out of 16 traders in a ...

Bloomberg European stocks rallied the most in two weeks, led by bank shares, on optimism that the recent selloff is overdone. The pound strengthened on hopes that UK and European Union officials will be able to make progress as a key week of Brexit talks begins. Asian equities and US futures gained, while oil dropped below $40 a barrel in ...

Abu Dhabi / WAM Adnoc Logistics and Services, Adnoc L&S, the shipping and maritime logistics subsidiary of the Abu Dhabi National Oil Company (Adnoc) announced on Sunday that it has signed a new 25-year agreement to provide critical marine services across all petroleum ports in Abu Dhabi on behalf of the Petroleum Ports Authority (PPA). This includes the onshore Jebel ...

Abu Dhabi / WAM Abu Dhabi Ports, part of ADQ – one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, on Sunday announced another step in its drive to enhance the emirate’s rank as an international hub for trade and logistics with the acquisition of Micco Logistics. ...

Abu Dhabi / WAM The Zayed Higher Organisation for People of Determination (ZHO) announced the creation of its WhatsApp Business application as part of its continuous journey towards a diversified portfolio of communication channels to best serve people of determination and their families. The new service is the latest measure to be implemented as part of the continuous development plans ...

Dubai / WAM Exports of Dubai Chamber members exceeded a combined value of AED45 billion between June and August this year, marking a 7.4 percent increase compared to the March-May period. Over 151,000 Certificates of Origin were issued by Dubai Chamber from June-August, an 11.7% increase from the 135,00 certificates issued during the March-May period. The average number of exporters ...