Saudi Arabia Is Making a High-Risk $1 Trillion Bet on Tourism
The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
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The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
Jury selection was completed Friday for Donald Trump’s first criminal trial, setting the stage for opening arguments Monday in a New York case accusing the former president of falsifying business records to conceal a sex scandal before the 2016 election.
Higher-than-expected interest rates amid persistent inflation are perceived as the biggest threat to financial stability among market participants and observers, according to the Federal Reserve.
Fifth Third Bancorp jumped the most in four months, leading bank stocks higher, with Chief Executive Officer Tim Spence predicting that income from lending has bottomed out.
China’s securities regulator said it will encourage the nation’s companies to list in Hong Kong as it unveiled a package of measures to bolster the city’s position as an international financial hub.
Apr 26, 2019
Bloomberg News
,(Bloomberg) -- U.K. mortgage lending reached a nine-month high in March, a possible sign that stability is returning to the housing market.
The number of home-loan approvals climbed to 39,980, almost 6 percent higher than a year earlier and the most since June 2018, lobby group UK Finance said on Friday.
The surprise pickup may reflect seasonal demand as the housing market enters the traditional spring buying season. Demand has been hit by Brexit uncertainty, particularly in London, and mortgage approvals remain well below the levels posted two years ago.
Demand for unsecured credit stayed modest last month, with net lending on credit cards of just over 200 million pounds ($258 million), UK Finance said.
The report covers seven High Street banks representing around 60 percent of total mortgage lending, data on which are due to be published by the Bank of England on May 1.
To contact the reporter on this story: Andrew Atkinson in London at a.atkinson@bloomberg.net
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Lucy Meakin
©2019 Bloomberg L.P.