09252016Sun
Last update: Sun, 25 Sep 2016 05pm

Business & Finance - Managed Funds

Euro zone yield curves steepen in brief nod to Japan policy shift LONDON: Long-term euro zone bond yields initially rose and curves steepened on Wednesday after the Bank of Japan set a long-term rate target and "curve controls" in a move seen as a shift away from money-printing.But as investors questioned whether the policy shift would be effective in raising inflation expectations, and with the US Federal Reserve adding to uncertainty with a policy meeting that concludes on Wednesday, the market moves were short-lived. The BOJ held off deepening negative rates or expanding its asset purchase target on Wednesday, instead vowing to keep 10-year bond yields around current levels at zero and steepen curves in what could be a boon for the financial system. "We had the initial market impact to the shift in policy and now there's a question over whether that shift can have the desired impact," said Orlando Green, European fixed income strategist at Credit Agricole. In Germany - ...


Business & Finance - Banking & Finance

How low can they go? Central bank policy easing around the world  LONDON: Kenya's central bank unexpectedly cut its benchmark interest rate by 50 basis points on Tuesday, a move aimed at spurring credit growth and facilitated by inflation remaining within the government's target band.A total of 57 monetary authorities around the world have now eased policy since the beginning of last year in the face of slowing growth and inflation. This was the 197th easing step in that period.Below is a list of all 57 central ...

Business & Finance - Banking & Finance

Hungarian central bank accepts 3-month depos worth HUF 687bn at tender BUDAPEST: The Hungarian central bank accepted 3-month deposits worth 687 billion forints ($2.49 billion) on Wednesday at its last monthly tender before its limits take effect. The 3-month deposits now hold 2.227 trillion forints. The bank announced on Tuesday that it would cap the amount in the 3-month deposits at 900 billion forints by the end of the year. Copyright Reuters, 2016

Business & Finance - Industries & Sectors

Korean Air to loan Hanjin Shipping 60bn won to help unload cargo SEOUL: The board of Korean Air Lines , the largest shareholder of collapsed Hanjin Shipping Co Ltd, has approved lending 60 billion won ($53.96 million) to the container carrier, using Hanjin's accounts receivable as collateral, a spokesman for the airline said on Wednesday. The spokesman said the funds would be used to help to offload cargo that has been stranded on Hanjin ships. Last month, South Korea-based Hanjin filed for court receivership with roughly 6 ...

Business & Finance - Industries & Sectors

Lufthansa makes new offer to pilots in bid to solve long-running row BERLIN: Lufthansa made a new offer on pay and conditions for its pilots on German collective labour contracts in a bid to resume talks with the union and end a long-running dispute. The German airline is trying to cut costs and restructure pension schemes to better compete with low-cost rivals and leaner Gulf carriers. It has already agreed wide-ranging deals with ground staff and cabin crew, but has so far failed to reach agreement with ...

Business & Finance - Banking & Finance

Morocco's Credit Agricole gets government approval for Islamic bank RABAT: Moroccan state-owned bank Credit Agricole (CAM) has won the backing of the finance ministry to create an Islamic subsidiary with The Islamic Development Bank (IDB), according to a government decree.Morocco's central bank is in the final stages of launching an Islamic finance industry. It has said it will start issuing approvals for Islamic banks this year, with the aim of allowing them to begin business in early 2017. The North African kingdom adopted legislation ...

Business & Finance - Banking & Finance

Portugal says Caixabank has to launch mandatory bid for BPI LISBON: Spain's Caixabank has to make a new mandatory takeover bid for Portugal's Banco BPI, Portugal's stock market regulator CMVM said on Wednesday, which could force an increase in the bid price of 1.113 euros a share offered in April. The decision by CMVM came hours after shareholders in BPI lifted a 20 percent voting right limit, clearing the way for the takeover by the Catalonia-based giant, which already owns 45 percent of the bank, ...