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When European Union (EU) heads meet at the end of this month, they are likely to issue a warning to bureaucracies and firms to step up preparations for a no-deal Brexit, also known as a ‘hard’ or ‘cliff-edge’ Brexit, because that’s where things appear to be heading in the talks between the EU and the UK. At this point, it’s ...

There are few places for investors to hide when a global trade war is about to erupt and the US Treasury yield curve threatens to invert. Japan may be one. The nation’s stock market has been relatively calm this year, with the Topix index down less than 2 percent in dollar terms. This is noteworthy considering a third of revenue ...

The Permian basin is the center of shale’s world, whether it fascinates investors or, as today, repels them. The recent selloff has obscured that. The Permian’s denizens are currently victims of their own success. Production of oil and gas has outrun the pipeline capacity to get it all to market, leading to steep discounts being taken on some of it. ...

Bloomberg The speed of the instant payment highway has regulators in Norway thinking about the guardrails. The central bank is stepping up efforts to improve the country’s banking infrastructure as the spreading use of instant payments drives credit risk higher at banks. The problem lies in the fact that customers get their money before it’s actually transferred to their banks. ...

Bloomberg Investors have seen the peak of the US 10-year Treasury yield this year as brewing trade tensions and a stronger dollar curb its advance, according to Morgan Stanley. “3.12 percent was it,” Morgan Stanley global head of interest-rate strategy Matthew Hornbach wrote in a note to clients. “We suggest investors buy 10-year Treasury notes outright,” he said, with the ...

Bloomberg The Commonwealth Bank of Australia’s new Chief Executive Officer Matt Comyn has embarked on a massive overhaul of the scandal-plagued lender, announcing plans to spin off its wealth management and mortgage-broking businesses. The asset management, wealth advisory and Aussie Home Loans units will be placed into a new company known as CFS Group to be listed on the Australian ...

Bloomberg When China allowed banks to use 700 billion yuan ($108 billion) more of their deposits, they were very clear on where the money should go. One sector not mentioned was the overheating property market. Money freed up from previous cuts may have ended up flowing into the housing market, and the design of this new policy seems aimed at ...

Bloomberg Central banks should accept that reversing crisis-era monetary policy will be “bumpy” and shouldn’t delay doing so just for fear of upsetting financial markets, according to the Bank for International Settlements. Claudio Borio, who heads the institution’s economics department, urged policy makers to press ahead, both to address financial stability risks and to insulate their economies against the next ...

Abu Dhabi / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan issued a number of Federal Decrees on the ratification of international and bilateral agreements between the UAE and a number of friendly countries, as well as establishment of UAE Embassy in the Maldives. The Decrees were published in the latest issue of the Official Gazette. Federal Decree No. ...

CALIFORNIA / WAM A delegation led by Saeed Mohammed Al Tayer, MD and CEO of the Dubai Electricity and Water Authority (Dewa), has visited the US. The visit is part of Dewa’s efforts to expand cooperation with international universities, companies and research centres, and review best practices and the latest research in a variety of areas, including renewable energy, water, ...