UBS Seeing Inflows Across Units in Third Quarter, CEO Ermotti Says
UBS Group AG is seeing inflows both in its own franchise and at Credit Suisse over the past two months, as clients return following the completion of the takeover in June.
Bloomberg Business
China’s Xi Likely to Skip G-20 Summit in India, Reuters Says
Chinese President Xi Jinping will likely skip the upcoming leaders summit of the Group of Twenty nations in India next month, Reuters reported, citing government and diplomatic sources familiar with the matter.
Turkish Growth Set for Lowest in Years as More Rate Hikes Loom
Turkey’s economy probably slowed in the second quarter, with activity set to remain subdued for the rest of the year as officials seek to put growth on a more sustainable footing by raising interest rates.
Zimbabwe Creditors See Debt Restructuring Talks Resuming Despite Disputed Vote
Western-based creditors expect to resume talks with Zimbabwe on restructuring its $18 billion of debt, despite doubt over the credibility of last week’s elections, which handed President Emmerson Mnangagwa another five-year term.
China State Media Declares Huawei Phone a Victory in US Tech War
Chinese state media jumped aboard a groundswell of national pride surrounding Huawei Technologies Co.’s latest smartphone, portraying the gadget as a technological marvel that delivered a much-needed victory over US sanctions.
Kazakhstan Diversifies Oil-Export Routes With Tanker Purchases
Kazakhstan is buying tankers to ship its oil across across the Caspian and Black Seas, the latest sign that central Asia’s largest crude producer is seeking alternatives to its main export pipeline through Russia.
India Exempts Some Nations From Rice Curbs for Food Security
India has permitted some rice shipments to Mauritius, Bhutan and Singapore for food security purposes after the South Asian nation imposed sweeping export restrictions to control domestic prices.
China Steel Website Zhaogang Nears Hong Kong’s First SPAC Merger, Sources Say
Chinese steel trading website ZG Group has agreed a deal to go public in Hong Kong via a merger with a blank-check company backed by China Merchants Bank Co.’s overseas asset management arm.
Active ETFs Cash In on Corporate Reform in Japan
Actively managed exchange-trade funds are set to launch in Tokyo next week, with one asset manager focusing its strategy on corporate Japan’s effort to elevate shareholder returns.
HK’s London Trade Office Defaced as UK Seeks Detente With China
The Hong Kong government blasted the vandalism of its trade office in London as a “nefarious” act by foreign forces, an act of rebellion that came as UK and Chinese officials prepared for talks to mend ties.
