08252016Thu
Last update: Thu, 25 Aug 2016 02am

Business & Finance - Managed Funds

Euro zone yields creep up after resilient German, French data LONDON: Germany's benchmark 10-year bond yield nudged off a one-week low on Tuesday after strong data from the euro zone's two biggest economies pointed to resilience in the face of the UK's shock vote to leave the European Union. German private sector growth slowed in August, but remained robust overall, a purchasing managers' index showed, suggesting Europe's biggest economy is set to keep on expanding in the summer months after it grew more than expected in the second quarter.France's private sector grew at its fastest pace in 10 months.The eurozone figures are closely watched for evidence of the Brexit impact on the UK's largest trading partner, said Craig Erlam, senior market analyst at OANDA."While it's too early to get this from the hard data, releases like the PMIs are a good source of early insight into how the region will respond," he said.The yield on Germany's 10-year bond was up ...


Business & Finance - Industries & Sectors

Deal puts Microsoft apps on Lenovo smartphones SAN FRANCISCO: Microsoft apps such as Office and Skype will be installed on Lenovo mobile devices powered by Android software under the terms of a collaboration announced late Monday.The US technology giant and the Chinese computer titan said they were "deepening their strategic relationship" with a move that could add to the ranks of people using Microsoft programs as services hosted in the internet cloud."The marriage of Microsoft's apps and Lenovo's Android-based devices will enable ...

Business & Finance - Banking & Finance

Bank of Japan's rush into stocks raises fears of market distortions TOKYO: The Bank of Japan's near doubling of its purchases of Tokyo shares is causing investors to worry the central bank will dominate financial markets, which could lead to price distortions as it continues to grease the economy. The BOJ's buying spree will make it harder for investors to sift good companies from bad, and raises a host of other problems including misallocating capital, making equities trading more speculative and reducing incentives for companies to ...

Business & Finance - Industries & Sectors

Instagram joins the 1 billion club Facebook photo sharing app Instagram has been a good investment for the social media giant, after it reached another milestone of joining the elite club of one billion on Google Play.In doing so the photo sharing app now sits with app heavyweights i.e. the Facebook app, WhatsApp, Messenger and now Instagram, indicating the domination of the social media giant on the app world, reported Android Police.Overall, the 1 billion installs, makes Instagram with 500 million ...

Business & Finance - Banking & Finance

Deutsche Bank extends oil & gas coverage with new hire NEW YORK: Deutsche Bank has hired Lackland Bloom, former co-head of oil & gas investment banking at JP Morgan, to run its Houston office as a managing director in the natural resources group. Bloom will report to Greg Sommer and John Anos who are co-heads of Deutsche Bank's natural resources group, according to a memo obtained by IFR. Bloom had been with JP Morgan for roughly 16 years. Prior to joining JP Morgan, he was ...

Business & Finance - Banking & Finance

New Zealand central bank expects 35 basis points of cuts WELLINGTON: New Zealand's central bank said on Tuesday that its current interest rate track involves further cuts to balance a number of risks while generating an increase in consume price index inflation."Our present judgment is that the current interest rate track, involving an expected 35 basis points of further interest rate cuts, balances a number of risks weighing on the economy, while generating an increase in CPI inflation back toward the mid-point of the 1 ...

Business & Finance - Banking & Finance

UAE to deposit $1bn in Egypt central bank ABU DHABI: The United Arab Emirates agreed Monday to deposit $1 billion into Egypt's central bank in a new show of support for President Abdel Fattah al-Sisi, state news agency WAM said.The announcement comes as Egypt grapples with a dollar shortage and dwindling foreign reserves, and as Sisi has been preparing public opinion for economic reform measures, including further subsidy cuts.The $1 billion (800,000 euro) deposit, which is for a six-year period, comes as part ...