Sweden's central bank will work with commercial lender Handelsbanken to test how the country's proposed digital currency - the e-krona - could handle payments in the real world, the Riksbank said on Friday.
April M2 money supply +8.1% y/y, vs forecast of +9.3% Outstanding TSF +11.7% Y/Y, vs 12.3% in March TSF 1.85 trln yuan, vs forecast 2.25 trln yuan (Adds detail on slowest loan growth in nearly two decades)
BEIJING, May 12 (Reuters) - China’s new bank loans fell more than expected in April while money supply growth slowed to a 21-month low, as the central bank gradually scales back pandemic-driven stimulus to reduce debt and financial risks in hot areas of the economy.
The world’s second-largest economy grew by a record 18.3% in the first quarter, rebounding from last year’s coronavirus shock, driven by strong domestic consumption, surging exports and continued government support for businesses, especially smaller firms.
By Reuters Staff
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(Reuters) - Major stock markets in the Gulf closed higher on Monday, with the Saudi index leading gains after a slew of strong corporate earnings.
FILE PHOTO: A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. REUTERS/Hamad I Mohammed
Saudi Arabia’s benchmark index rose 0.9%, boosted by a 1.8% gain in Al Rajhi Bank and a 8.9% surge in Bank Al Jazira, which reported an increase in its quarterly net profit.
Elsewhere, Saudi National Bank (SNB) closed 0.9% higher. The kingdom’s largest lender posted a 20.3% rise in first-quarter net profit on Monday with lower impairments and higher fees, in a sign that the economy has been recovering from last year’s pandemic lockdowns.
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JOHANNESBURG (Reuters) - Absa Chief Executive Daniel Mminele is in talks with the board about leaving after just 15 months at the helm of one of Africa’s biggest lenders, the bank said on Tuesday, in a move that surprised investors and sent its shares down 5%.
The logo of South Africa s Absa bank is seen outside an Absa branch in Cape Town, South Africa, March 10, 2020. REUTERS/Mike Hutchings
Mminele, a former deputy central bank governor, took the reins at Absa from long-time boss Maria Ramos in January 2020.
Business Day newspaper and other local media reported that his possible departure followed a rift with the board about the bank’s strategic direction.
New bank loans in China rose more expected in March from the previous month due to strong corporate and household demand, as the central bank walks a tightrope between supporting the rapidly recovering economy and containing debt risks.