12082016Thu
Last update: Thu, 08 Dec 2016 05am

Business & Finance - Managed Funds

Tunisia to issue 1bn euro Eurobond in January TUNIS: Tunisia plans to issue a Eurobond worth 1 billion euros in January as it seeks funding to cover its deficit, a government source said on Monday. The issue was initially scheduled for April, but that was delayed after Tunisia secured a $500 million sovereign bond fully guaranteed by the United States, said the official."Tunisia will issue in January 2017 a delayed 1 billion euro Eurobond that was first planned earlier this year," he said, without giving further details.Tunisia's economy has been hit by social unrest and militant attacks following the 2011 uprising that toppled former leader Zine El-Abidine Ben Ali. Investment has fallen and unemployment is high, especially among young people.The government is facing further strikes over austerity measures included in the 2017 budget as it tries to cut public spending and rein in the deficit.Tunisia recently cut its 2016 growth forecast to 1.5 percent this year, down from ...


Business & Finance - Managed Funds

Development Bank of Kazakhstan to buy back up to $200mn in bonds MOSCOW: State-owned Development Bank of Kazakhstan (DBK) offered on Monday to buy back up to $200 million in 2022 Eurobonds out of a $1.425 billion issue, the bank said in a statement. The offer runs until Dec. 7 with a minimum price set at 94.5 percent of face value, the bank said.Copyright Reuters, 2016

Business & Finance - Banking & Finance

Barclays nets less than expected from Asia wealth business sale LONDON: Barclays completed the sale of its Singapore and Hong Kong wealth management businesses for a less-than-expected $225 million, as not all of the bank's customers chose to transfer their business across to the buyer, Oversea-Chinese Banking Corp. OCBC, which bought the businesses through its Singapore private banking unit Bank of Singapore, said in April it had agreed to pay $320 million for the operations.The $95 million discrepancy with the final price reflects the fact ...

Business & Finance - Industries & Sectors

Solar, wind industries hope years courting Republicans pays off under Trump LOS ANGELES: US wind and solar companies for the first time gave more money to Republicans than Democrats during the 2016 election cycle, according to federal campaign disclosures, part of a years-long effort to expand renewable energy's appeal beyond liberal environmentalists. The industry is now hoping its strategy of reaching across the political divide will pay off in the form of Congressional support as Republican Donald Trump, a climate change skeptic who has expressed doubts ...

Business & Finance - Banking & Finance

Monte dei Paschi faces potential legal claims for 8bn euros MILAN: Ailing Italian bank Monte dei Paschi di Siena said on Monday it is facing potential legal claims for a total of more than 8 billion euros ($8.5 billion) in a series of civil lawsuits. In a prospectus for a debt swap offer due to start on Monday, the Tuscan bank said it had set aside 627 million euros to cover for such claims.The bank, which is seeking to raise 5 billion euros through the ...

Business & Finance - Banking & Finance

Greek bank deposits rise in October, still stuck at 13-year lows ATHENS: Greek bank deposits rose in October after a fall in the previous month, remaining at levels last seen 13 years ago and keeping banks hooked on central bank funding, data released by the country's central bank showed on Monday. Business and household deposits rose by 1.16 billion euros, or 0.94 percent month-on-month to 124.63 billion euros ($132.43 billion), their lowest since November 2003. They had dropped by 423 billion euros to 123.47 billion in ...

Business & Finance - Managed Funds

Indian bond yields jump after RBI hikes cash reserve ratio MUMBAI: Indian bonds slumped on Monday, with the benchmark 10-year bond yield up as much as 15 basis points, after the central bank ordered banks to boost cash deposits with it in a bid to absorb excess liquidity generated by a government ban on larger notes.The benchmark 10-year bond yield was up 8 basis points at 7.31 percent at 0345 GMT, after earlier rising as much as 15 basis points at open, reacting to the ...