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Banker had been with Dutch lender for just over a year
Two more follow Darwish and Safa leaving last month
The US bank is reshuffling several roles in the Middle East
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The Chinese state council introduced new measures governing the proceeds of local government special-purpose bonds on Monday. Some of the proceeds can now be counted as project capital — which bankers said would make it easier for infrastructure projects to secure loans. -
BNP Paribas has promoted Paul Yang, the current head of Greater China, to be head of corporate and institutional banking (CIB) for Asia Pacific, according to sources.
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Dubai Islamic Bank (DIB) is set to acquire smaller rival Noor Bank after months of consideration. The merger will create one of the region's largest Islamic banks, and adds to a succession of bank tie-ups taking place or under consideration across the Gulf.
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In this round-up, US treasury secretary Steven Mnuchin called the talk with Chinese central bank governor Yi Gang ‘candid’ on Twitter, the Mainland warned domestic tourists and students against planning trips to the US, and both the World Bank and International Monetary Fund (IMF) lowered predictions for Chinese GDP growth thanks to trade tensions.
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The list of companies that have declared their support for the Task Force on Climate-Related Financial Disclosures has grown to 671, with a combined market capitalisation of $9.3tr. This is up from 457 worth $7.9tr in September. The TCFD Secretariat issued its second status report on adoption of the recommendations this week.
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Emerging markets and developing economies (EMDEs) are at risk of a financial crisis as mounting debt levels are making them vulnerable to an economic shock, the World Bank warned this week.
