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Bloomberg Reserve Bank of India’s (RBI) apparent tolerance of rupee gains is burnishing the appeal of Asia’s best carry-trade currency. RBI governor Urjit Patel already surprised analysts by raising a key interest rate last month, and now there’s little indication that officials are intervening heavily to slow currency gains—unlike some Asian counterparts. That’s all spurred Aviva investors to add to ...

Bloomberg Singapore’s sovereign wealth fund GIC Pte ceased being the biggest shareholder in UBS Group AG after cutting its ownership by almost half, saying it was “disappointed” that it lost money during nearly a decade in which it was invested in the Swiss bank. GIC sold a stake of about 2.4 percent at 16.10 francs ($16.20) a share, according to ...

Reuters Islamic banks have continued to expand their balance sheets and capital buffers, but the era of double-digit growth rates could be coming to an end while asset quality concerns creep up, an industry oversight body said on Tuesday. Islamic finance, which has its core markets in the Middle East and Southeast Asia, follows religious principles that forbid interest and ...

Bloomberg Sweden’s central bank wants to track a different consumer-price gauge and introduce a tolerance band in a move that will give policy makers more leeway to unwind stimulus after half a decade of below-target inflation. The world’s oldest central bank wants to start targeting an index called CPIF, which factors out changes to mortgage costs, instead of the headline ...

Washington / Agencies His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has arrived at the White House where he was received by US President Donald Trump. President Trump welcomed the visit of HH Sheikh Mohamed and his accompanying delegation. The delegation includes HH Sheikh Tahnoun bin ...

ABU DHABI / WAM A total of AED 18.4 billion of Q1 profits were reported by 92 companies listed at Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) a growth of 13 percent from AED16.2 billion in the same period last year. Fifty five companies listed at ADX posted Q1 profits of AED10.7 billion, a growth of 27.3 ...

Abu Dhabi / Emirates Business At a ceremony held in Abu Dhabi by the Chartered Institute of Procurement and Supply Awards, Abu Dhabi Airports’ Procurement and Logistics Department has won three prestigious awards: Best Supplier Relationship Management; Most Innovative Use of Technology; and Acting Chief Support Officer, Saeed Al Zaabi was named ‘CIPS Procurement and Supply Professional of the Year.’ ...

On Tuesday night, a few hours after President Trump’s sudden announcement that he was firing FBI Director James Comey, a prominent Republican politician gave me this simple, blunt assessment of the Trump White House: “These guys scare me.” Trump’s impulsive, vengeful decision to dump Comey has scared a lot of people. It suggests a pent-up anger and lack of judgment ...

The investment metric on which Indian banks appear most eager to ape their Chinese peers is the price-to-truth ratio. While investors know better than to take the People’s Republic’s published bad loan ratio of 1.74% at face value, they have been reasonably certain that Indian lenders are more honest, following a 2015 review of asset quality by the central bank. ...

Britain’s new relationship with the European Union is still a long way from being settled, but Brexit has started a process that is bound to hurt the City of London. Earlier this month, the European Commission launched a review of the rules governing one of the City’s lucrative lines of business — the clearing of derivatives denominated in euros. The ...