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China’s securities regulator is planning to hold a meeting with some of the world’s largest asset managers in an effort ...
25/08/2023

China’s securities regulator is planning to hold a meeting with some of the world’s largest asset managers in an effort to restore confidence following a period of significant outflows by foreign funds.

Notable firms like Fidelity International Ltd. and Goldman Sachs Group Inc. are among those that have received invitations to the meeting

A recent report by Fitch Ratings has shed light on the risks European banks could face due to higher interest rates duri...
02/08/2023

A recent report by Fitch Ratings has shed light on the risks European banks could face due to higher interest rates during economic stress.

A recent report by Fitch Ratings has shed light on the risks European banks could face due to higher interest rates during economic stress

Raiffeisen Bank, the largest western lender still operating in Russia, has experienced a doubling in staff costs at its ...
02/08/2023

Raiffeisen Bank, the largest western lender still operating in Russia, has experienced a doubling in staff costs at its Russia-based subsidiary in the past six months, amounting to a staggering €200 million increase.

The US Treasury Department has requested thousands of documents from the bank to ensure compliance with sanctions against Moscow.

Top executives from Tesla, the renowned electric car manufacturer, held crucial discussions with officials from India’s ...
02/08/2023

Top executives from Tesla, the renowned electric car manufacturer, held crucial discussions with officials from India’s investment promotion agency on Thursday, as the company aims to make its foray into the world’s second-largest car market.

While Tesla has contemplated entering India for several years, high import duties on electric vehicles have been a significant hurdle.

Saudi Arabia and Brazil took significant steps towards enhancing cooperation across various sectors as officials from bo...
02/08/2023

Saudi Arabia and Brazil took significant steps towards enhancing cooperation across various sectors as officials from both countries signed 25 agreements during the Brazil-Saudi Investment Forum held in Sao Paulo on Monday.

The forum's outcomes are expected to facilitate long-term sustainable growth and deepen the strong ties between Saudi Arabia and Brazil.

The decision, announced by Kazuo Ueda, the BoJ’s new governor, has implications for bond, currency, and equity markets a...
02/08/2023

The decision, announced by Kazuo Ueda, the BoJ’s new governor, has implications for bond, currency, and equity markets and marks a significant step towards unwinding decades of ultra-accommodative monetary policy.

Overall, the BoJ's decision is seen as a balancing act as it buys time to assess wage growth and its sustainability into next year

The US economy surpassed expectations in the second quarter, growing at a rate of 2.4% on an annualised basis. Labor mar...
02/08/2023

The US economy surpassed expectations in the second quarter, growing at a rate of 2.4% on an annualised basis. Labor market resilience supported consumer spending, and businesses increased investment in equipment, potentially warding off fears of an imminent recession.

The 2.4% growth rate in GDP exceeded economists' expectations, who had forecasted a 1.8% rate for the April-June period

The Saudi-Bahraini Coordination Council recently convened its economy, energy, trade, and industry committee to explore ...
02/08/2023

The Saudi-Bahraini Coordination Council recently convened its economy, energy, trade, and industry committee to explore opportunities for enhancing joint bilateral cooperation.

Through such strategic collaborations, Saudi Arabia and Bahrain aim to bolster their ties and realise shared benefits for both nations.

Foreign interest in Nigeria’s equities market has significantly declined over the past decade due to forex illiquidity, ...
02/08/2023

Foreign interest in Nigeria’s equities market has significantly declined over the past decade due to forex illiquidity, high inflation, and a challenging macroeconomic environment.

On the other hand, domestic transactions have increased by 93.7%, reaching N137 billion in the same period.

Bank of Ireland (BIRG.I) has revised its full-year guidance, anticipating improved returns to shareholders following a s...
01/08/2023

Bank of Ireland (BIRG.I) has revised its full-year guidance, anticipating improved returns to shareholders following a substantial surge in first-half profits.

In a similar vein, main rival AIB (AIBG.I) also raised its guidance for the second time in three months on Friday

The Central Bank of West African States (BCEAO) has cancelled Niger’s planned 30 billion CFA franc ($51 million) bond is...
01/08/2023

The Central Bank of West African States (BCEAO) has cancelled Niger’s planned 30 billion CFA franc ($51 million) bond issuance in the West African regional debt market, in the wake of a recent coup, according to sources familiar with the matter.

The situation in Niger remains tense and uncertain, with both regional and international actors closely monitoring developments.

The Swiss National Bank (SNB) reported a substantial loss of 13.2 billion Swiss francs ($15.14 billion) in the second qu...
01/08/2023

The Swiss National Bank (SNB) reported a substantial loss of 13.2 billion Swiss francs ($15.14 billion) in the second quarter, despite earning nearly 900 million francs in interest income from emergency loans extended to Credit Suisse and UBS (UBSG.S).

Interest from emergency loans helped mitigate some losses incurred by the central bank as a result of its recent monetary policy tightening

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