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DUBAI / Reuters Banks helped nudge stock markets in the Gulf higher on Monday with Saudi Arabian lenders, which may benefit from a potential upgrade of the kingdom by index compiler FTSE at the end of next month, outperforming. Egypt firmed on buying by foreign funds. Late next month FTSE will announce its decision on whether to include Saudi Arabia ...

Bloomberg Leaders of the world’s most powerful central banks defended post-crisis reforms at their annual retreat in Jackson Hole, Wyoming, while discussing the causes and consequences of populist waves that have reshuffled the political order in the US and Europe. Monetary policy wasn’t a major focus during the three-day gathering. When it was discussed, the messages from the Federal Reserve ...

Bloomberg The recent fallout from the Commonwealth Bank of Australia’s money-laundering scandal widened, with the banking regulator launching an inquiry into the lender’s culture and governance. The nation’s biggest lender is already facing a court case from the financial crime agency alleging it breached money-laundering and terrorism financing laws more than 50,000 times, an investigation into its disclosure practices by ...

Bloomberg Stocks in Hong Kong and China led gains in Asian equity markets as rising money market rates on the mainland boosted sentiment on lenders. The MSCI Asia Pacific Index added 0.1 percent to 160.62 as of 4:19 p.m. in Hong Kong, after posting its biggest weekly gain in five weeks. The Philippines market is closed for a holiday. The ...

Bloomberg Thomas Jordan might have had the quietest August since he became Swiss National Bank president five years ago. Considered the haven of all havens by foreign exchange traders, the franc typically shoots up against other currencies whenever investors get anxious. This year, with no Greek debt crisis and the prospect that euro-area bond purchases might soon be wound down, ...

Bloomberg Foreigners looking to buy Asia’s best bonds will probably have to wait. Reserve Bank of India’s Governor Urjit Patel is unlikely to raise the quota on debt after inflows surged and muddied policy choices. He can’t allow runaway currency gains because exports are only just recovering from a slump, so he’s buying up the dollars pouring in. This injects ...

Bloomberg Amazon.com Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market. At the Whole Foods on 57th Street in Manhattan, organic fuji apples were marked down to $1.99 a pound from $3.49 a pound; organic avocados went to $1.99 each from $2.79; organic rotisserie chicken fell to $9.99 each from ...

Bloomberg Patrick Shanahan, the Pentagon’s No. 2 civilian, has set up an alert system to insulate himself from decisions affecting Boeing Co., where he rose to senior vice president during a 30-year career. The new deputy defense secretary has signed a “screening arrangement” that will notify Defense Secretary James Mattis and Shanahan’s staff to issues involving Boeing—the No. 2 US ...

Bloomberg For years, China’s three state-owned airlines kept adding flights on international routes to chase after a rising middle class that can afford to fly overseas. Now, they are slowing that down in favour of the local market. In the first half of 2017, Air China Ltd., China Eastern Airlines Corp. and China Southern Airlines Co. increased international seats at ...

Bloomberg Steinhoff International Holdings NV rejected allegations of dishonesty made in a Manager-Magazin report that Chief Executive Officer Markus Jooste is among employees being investigated by German prosecutors in a 2015 case linked to possible accounting fraud. Substantial information in the article is “wrong or misleading,” the South African furniture and clothing retailer said. Referring to the start of the ...