AUD Markets News 

Asian stocks poised for cautious trade on the back of weak sentiment

“South Korea’s Kospi was trading lower by about 0.15 percent” writes Eustance Huang for cnbc.com. Stocks in Asia were trading cautiously in morning trade on Monday following a report suggesting further turmoil for the markets in 2019, and after a Wall Street sell-off on Friday.The heavily-weighted financial subindex fell nearly 1 percent, with shares of Australia’s so-called Big Four banks seeing declines.Meanwhile, Australia’s ASX 200 was trading at around 0.03 percent higher, with the sectors in mixed territory. Source: cnbc.com Share This:

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NBE allocates EGP 1.75bn for education, health development: vice chairperson

“The National Bank of Egypt (NBE) has allocated EGP 1.75bn to develop the education and health sectors in Egypt, according to Dalia El-Baz, vice chairperson of the bank” writes Daily News Egypt for dailynewsegypt.com. El-Baz explained that about EGP 750m of the sum went for education, while the health sector received EGP 1bn, aimed to cover several public hospitals serving the largest base of citizens.According to El-Baz, the bank has contributed EGP 7m to developing the sterilization department at the hospital. Source: dailynewsegypt.com Share This:

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Revolut has become a regulated bank

“UK neobank Revolut has received its European banking license from the Bank of Lithuania” writes Lea Nonninger for businessinsider.com. As a result, Revolut is preparing to apply for a UK banking license separately, according to The Financial Times.It took Revolut a lot longer to apply for and receive a banking license than its competitors. Source: businessinsider.com Share This:

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Barclays just named its new crop of managing directors — here is the list

“Barclays just unveiled its new crop of managing directors, naming 85 employees to the position effective January 1” writes Trista Kelley for businessinsider.com. Here is the list of the class of 2018 MDs: Read more: Citigroup is promoting 125 employees to managing director — we’ve got the internal memo with the full list of names. Morgan Stanley promoted 153 employees to MD in January— up from the 140 it promoted in 2017. Source: businessinsider.com Share This:

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Exclusive: China Development Bank supervising HNA asset sales – sources

“HNA is planning to shed assets and retain only Hainan Airlines and its logistics business, three of the people said” writes Midwest Communications Inc for 95kqds.com. HNA is also in talks to bring in new investors as controlling shareholders in its smaller regional airlines in China, the people said. Source: 95kqds.com Share This:

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Barclays promotes 85 in investment bank to managing director

“LONDON (Reuters) – Barclays has promoted 85 executives in the international division that houses its investment bank to the rank of managing director, the British lender said on Friday” writes Midwest Communications Inc for 95kqds.com. The promotions come as Barclays’ investment bank is under scrutiny by investors, amid pressure by activist investor Edward Bramson who sees paring back the trading business as the way to generate better returns for Barclays overall.The managing director role is one of the most prestigious in investment banking.However, a spokesman for the bank said the…

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Morgan Stanley to Shutter Russian FX and Equities Trading Desks

“Reports on Thursday indicate that investment banking giant Morgan Stanley is going to be shutting down its currency and equities trading and sales desks in Russia in the near future” writes David Kimberley for financemagnates.com. Markets have been fairly stable since the country’s central bank increased interest rates in September of this year, but fears of even more sanctions continue to cause uncertainty in Moscow. Source: financemagnates.com Share This:

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