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Berner Kantonalbank is issuing a bond worth CHF 180 million, with a 1.550% coupon and a 12-year term maturing on April 16, 2037. The bond, co-managed by Bank Vontobel, will be listed on SIX starting April 15, 2025, and aims to finance credit growth. The yield to maturity is set at 1.540%, with an A2/AA- rating from Moody's and ZKB.
Ripple has secured full regulatory approval from the Dubai Financial Services Authority (DFSA) to offer cross-border crypto payment services in the UAE, becoming the first blockchain payments provider in the Dubai International Financial Center (DIFC). This license enables Ripple to deliver secure blockchain-based payment solutions, catering to the rising demand for efficient financial transactions in the region. The company is also collaborating with the Central Bank of the UAE to comply with upcoming stablecoin regulations, further enhancing its presence in the MENA fintech market.
Customers of Halifax, NatWest, Lloyds, and Barclays are facing branch closures in April, with Halifax closing eight branches, NatWest five, Lloyds two, and Bank of Scotland two. Since 2015, over 6,293 UK bank branches have shut down, with NatWest Group and Lloyds Banking Group leading in closures. Starting January 2025, customers of Lloyds, Halifax, and Bank of Scotland will be able to use any of their branches for regular transactions.
Leonardo shares fell nearly 3% after UBS downgraded its rating from "Buy" to "Neutral," while raising the target price from 31 to 50 euros. The downgrade reflects limited upside potential following a remarkable 90% increase in the stock over the past three months, and a staggering 587% rise since the onset of the Ukraine war.
Ethereum's price remains above $2,000, a crucial level for investors as they monitor potential impacts from ongoing tariff conflicts and the Federal Reserve's interest rate policies. The upcoming release of the PCE deflator on Friday will be key for insights into monetary policy, while concerns over trade disputes could affect market sentiment.
The UAE Central Bank has introduced a new Dh100 banknote ahead of Eid Al Fitr, featuring advanced security measures and made from durable polymer, which lasts significantly longer than traditional paper notes. Additionally, the banknote includes Braille symbols to assist blind and visually impaired users in identifying its value.
HSBC economists have revised their expectations for the Bank of England's interest rate cuts, now anticipating a reduction once per quarter instead of at every meeting starting in September. They maintain a neutral rate forecast of 3%, but the slower cuts will delay reaching this target to the third quarter of 2026.
Eurozone economic activity grew for the third consecutive month in March, with the manufacturing sector expanding for the first time in two years, despite a decline in new orders. The Flash Composite PMI Index rose to 50.4, driven by Germany's recovery, while inflation rates showed signs of slowing, particularly in the service sector. Market reactions were limited, with a slight recovery in the eurodollar and buying interest in the Germany 40 index.
The Bank of England has initiated its 2025 bank capital stress test for the UK's seven largest banks and building societies, assessing their ability to withstand severe economic shocks. Results will be released in Q4 2025, evaluating resilience against deep recessions, asset price declines, and increased misconduct costs. The participating institutions, including Barclays and HSBC, account for 75% of lending to the real economy.
Kenya has sought a new lending programme from the International Monetary Fund after both parties agreed to end the ninth review of the current programme, which is set to expire next month. Finance Minister John Mbadi noted that approximately $800 million remains unutilized, prompting the request for a funded programme. The government is working to stabilize its finances amid rising debt-servicing costs.
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Berner Kantonalbank issues 180 million franc bond for credit growth financing
18:07 24.03.2025
ripple gains dfsa approval to launch crypto payments in the uae
17:29 24.03.2025
bank closures announced for halifax natwest lloyds and barclays customers in april
16:43 24.03.2025
ubs downgrades leonardo to neutral raises target price to 50 euros
16:24 24.03.2025
Ethereum price remains steady above 2000 dollars amid tariff concerns
16:23 24.03.2025
UAE Central Bank launches new Dh100 banknote with enhanced features
13:15 24.03.2025
hsbc revises bank of england rate cut expectations amid inflation concerns
12:28 24.03.2025
eurozone manufacturing sector shows growth amid easing inflation pressures
12:17 24.03.2025
bank of england initiates 2025 capital stress test for major banks
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11:13 24.03.2025
Kenya seeks new IMF lending program amid unutilized funds from current deal
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10:43 24.03.2025
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