European banking sector

KUALA LUMPUR: Transition finance or labelled bonds and loans are expected to gain traction in the coming years amid a growing number of companies pledging to reach sustainable goals, Maybank Investment Bank said. Maybank Investment Bank chief executive officer Datuk Fad’l Mohamed said transition finance is a relatively new addition to the suite of sustainable finance instruments to help companies deliver long-term strategies to achieve their net-zero carbon commitments. He said the potential investments that fell under transition bonds as opposed to green bonds are a lot larger as the former includes industries that are not readily green but are taking steps to decarbonise. "So, in this instance, for example, ship company Seaspan Corporation has raised about US$750 million (US$1=RM4.39) in transition bond this year and the proceed were channelled towards exploring energy efficiency of its vessels with alternative fuels,” he said at the Sustainable and Responsible Investment (SRI) … [Read more...] about Maybank IB expects transition finance to gain traction in Malaysia

- A + A NEW YORK (June 23): Major US stock indexes ended down slightly Wednesday, losingearly gains tied to remarks by Federal Reserve Chair Jerome Powell that the US central bank is "strongly committed" to bringing down inflation, while sharply lower oil prices weighed on energy shares. The S&P 500 energy sector was down 4.2%. The dollar fell alongside US Treasury yields on fears the US economy could slip into recession after Powell, in testimony to the US Senate Banking Committee, said higher rates are painful but are the means the US central bank has to slow inflation. "Like all Fed commentary, there are positives and negatives, but the overall message is the Fed is not backing away from rate hikes," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. The Fed recently raised its benchmark overnight interest rate by three-quarters of a percentage point, its biggest hike since 1994. The Dow Jones Industrial Average fell … [Read more...] about US stocks end down slightly after early boost from Powell; oil falls

- A + A (June 23): Chinese stocks rose to a near four-month closing high on Thursday (June 23), while Hong Kong's share benchmark gained over 1%, as Chinese tech companies and automakers jumped on Beijing's policy support. The market also drew inspiration from a surge in Chinese battery giant Contemporary Amperex Technology Co Ltd (CATL), following its US$6.7 billion (about RM29.52 billion) private placement and China's planned introduction of new stock index derivatives. US and European central banks "have been raising interest rates and shrinking balance sheets, but China has been loosening monetary policies to stabilise growth", said Linus Yip, the chief strategist at First Shanghai Group. In addition, "valuations of China and Hong Kong stocks are lower than their US peers". China's blue-chip index of CSI 300 rose 1.7% to the highest closing level since early March. The Shanghai Composite Index climbed 1.6%, also hitting a near four-month closing high. Hong … [Read more...] about China, HK stocks gain on Beijing’s support to tech, auto

Share to Twitter Share to Linkedin Hemp legalization has solidified that products containing cannabidiol (CBD) aren’t going away. Last February, Stephen Hahn, Commissioner of the Food and Drug Administration (FDA), acknowledged that it was “a fool's game” to attempt to pull hemp-derived CBD products off the market. This echoes the sentiment of former interim Commissioner, Scott Gottlieb, who’d stated that the FDA will take affirmative steps toward “the formation of a high-level internal agency working group to explore potential pathways for dietary supplements and/or conventional foods containing CBD to be lawfully marketed.” CBD products have permeated our consumer consciousness and it seems folly indeed for the FDA to outright disallow them. ADVERTISEMENT All of this makes the case for an FDA-approved pathway — essential to prevent the bank accounts of lawfully-operating businesses from being closed. Not to mention retailers' refusal to stock CBD … [Read more...] about The CBD Industry Is Here To Stay

Conny Braams from Unilever; Dara Treseder from Peloton; Forbes CMO Hall of Famer Antonio Lucio; and Frank Cooper III from Visa. Illustration by Alexander Wells for Forbes. Recognizing the 50 Most Influential CMOs in the World By Seth Matlins , Managing Director, Forbes CMO Network Additional reporting by Diane Brady , Emmy Lucas , Olivia Peluso , Lauren Debter , Isabel Lord , Katherine Dunn T wo hundred years before it was first used as a verb, “influence” was a noun denoting the stars’ ability to affect human lives and destinies. Today, we consider “influence” less astrologically and more practically, focusing on the chief marketers who wield it to shape the character and destinies of the brands and businesses they help steward. The link between marketing and influence has always been inextricable. After all, a chief marketer’s job is about nothing more than it is the influencing of attitudes and behaviors in … [Read more...] about The Forbes World’s Most Influential CMOs List: 2022