09292016Thu
Last update: Thu, 29 Sep 2016 11am

Business & Finance - Banking & Finance

African Development Bank says aims to provide $4.1bn to Nigeria in 2016/2017 LAGOS: The African Development Bank is looking to provide a total of $4.1 billion to Nigeria over the course of 2016 and 2017, its president said on Monday. Akinwumi Adesina told reporters the funds would be used to develop the power and agriculture sectors in the west African country, as well as infrastructure development. Copyright Reuters, 2016


Business & Finance - Industries & Sectors

Alstom puts Belfort closure on hold pending government plan PARIS: Plans for the partial closure of Alstom's historic Belfort site in northeastern France are on hold pending the presentation of a government plan aimed at helping the train maker to maintain production, unions said on Monday. Chief Executive Henri Poupart-Lafarge told workers' representatives that the closure plan was suspended until the plans had been disclosed, a CFE-CGC union official said. The government is due to present its proposals on Sept. 30.The Socialist-led government is ...

Business & Finance - Banking & Finance

Bank of America to cut Asia investment banking jobs SINGAPORE/HONG KONG: Bank of America is set to cut about two dozen investment banking jobs in Asia, including some top dealmakers, sources told Reuters, as a slowdown forces western banks to cut costs.The job cut plan comes after Reuters reported on Friday that Goldman Sachs is planning to cut almost 30 percent of its 300 investment banking jobs in Asia outside Japan, in response to a fall in activity in the region. Some bankers handling ...

Business & Finance - Managed Funds

Bund yields fall as focus switches to US presidential showdown LONDON: Safe-haven German bond yields fell to their lowest in more than two weeks on Monday as attention turned from central banks to the first televised debate between the US presidential candidates later in the day. Polls indicate a tightening race between Democrat Hillary Clinton and Republican Donald Trump in a vote shaping up as a significant risk event for financial markets. "We are heading into the presidential debate with a positive bias in European ...

Business & Finance - Banking & Finance

Colombia central bank to hold rates for rest of 2016 BOGOTA: Colombia's central bank will hold its benchmark interest rate at its meeting this week, analysts in a Reuters survey said on Monday, in a trend set to continue for the remainder of the year as policymakers await a fall in inflation.All 15 analysts polled said the seven-member bank board will keep the rate at 7.75 percent at its meeting on Friday, which would mean a second consecutive month of rate holds. Thirteen of those ...

Business & Finance - Banking & Finance

Deutsche Bank says no need for Berlin's help in $14bn US dispute FRANKFURT/BERLIN: Deutsche Bank said on Monday it had no need for German government help with a $14 billion US demand to settle claims it missold mortgage-backed securities, as its shares hit a record low. German magazine Focus reported at the weekend that Chancellor Angela Merkel had met Deutsche Bank Chief Executive John Cryan over the summer and had indicated he could expect no help from Berlin in resolving the bank's dispute with the US Department ...

Business & Finance - Banking & Finance

ECB's Coeure says QE less effective than hoped due to external shocks ROME: The European Central Bank's programme of quantitative easing has been less effective than it had hoped as a result of external shocks, ECB Executive Board Member Benoit Coeure said on Monday. Speaking at a conference in Rome, Coeure said that since the ECB began its asset buying programme the euro zone economy had been hit by "a number of external shocks", including a steep fall in commodity prices and, most recently, Britain's decision to ...