02102016Wed
Last update: Wed, 10 Feb 2016 05pm

Business & Finance - Banking & Finance

China central bank survey: more bankers think economy cooled in second quarter BEIJING: More Chinese bankers believe the economy is cooling in the second quarter than earlier in the year and demand for loans has weakened, according to a central bank survey published on Wednesday. The survey also showed that in the second quarter the number of bankers who believed monetary policy was appropriate increased from the first three months of the year. The People's Bank of China has taken targeted measures to support the economy, including cutting reserve requirements for selected banks, while the government has unveiled a flurry of measures to boost activity in certain sectors, dubbed by some economists as a "mini-stimulus programme".The survey also showed fewer Chinese residents believed property prices are at unacceptable levels, as home prices show signs of cooling. Copyright Reuters, 2014


Business & Finance - Industries & Sectors

Etihad says agreed principal terms to buy 49pc of Alitalia ABU DHABI: Abu Dhabi's state-owned Etihad Airways said on Wednesday it had agreed principal terms and conditions to buy a 49 percent stake in Italy's loss-making airline Alitalia. A tie-up with cash-rich Etihad is seen as a last chance to turn around Italy's flagship carrier, which has made an annual profit only a few times in its 68-year history and received numerous state handouts before being privatised in 2008. The two airlines will now finalise ...

Business & Finance - Managed Funds

Gilt market to withstand any outcome to Scottish referendum LONDON: Britain's government bond market will be able to withstand any volatility surrounding the referendum on Scottish independence, the head of the UK Debt Management Office said on Wednesday."I'm pretty confident that whatever the outcome is - and your guess is as good as mine - the market will be able to cope with that," DMO chief executive Robert Stheeman told a Euromoney conference. He also said British government debt prices have not suffered as ...

Business & Finance - Banking & Finance

Cyprus central bank sees shallower 2014 recession than forecast NICOSIA: Cyprus's economy could contract less this year than the 4.2 percent expected by the euro zone country's bailout lenders, its central bank governor said on Wednesday. The European Union and International Monetary Fund, which will lend Cyprus 10 billion euros under a year-old rescue deal, revised the projected drop in output lower last month from an earlier estimate of 4.8 percent.At a news conference, central bank governor Chrystalla Georghadji cited data showing an annual ...

Business & Finance - Industries & Sectors

German construction orders climb by 4.5pc in April BERLIN: German construction orders rose for a sixth consecutive month in April, data showed on Wednesday, suggesting the building industry in Europe's largest economy had a solid start to the second quarter. Construction contracts increased by 4.5 percent on the year, data from the Federal Statistics Office showed. That was weaker than the 5.6 percent increase registered in March. In the first four months of the year, orders rose by 5.7 percent on a price-adjusted ...

Business & Finance - Industries & Sectors

Zimbabwe switches $1.3bn China power tender: minister HARARE: The Zimbabwe government has awarded a $1.3 billion thermal power generation project to China's Sino Hydro after another Chinese company failed to conclude the contract, a minister said on Wednesday.Energy minister Dzikamai Mavhaire said the tender for the expansion of the Hwange power station had been awarded initially to China Machinery and Engineering Company (CMEC)."CMEC however failed to conclude the contract within the stipulated time frame that they had agreed upon with the Zimbabwe ...

Business & Finance - Industries & Sectors

Etihad to acquire 49pc of Alitalia airline MILAN: Alitalia and Etihad Airways have agreed that the Emirates airline will acquire 49.0 percent of the Italian company, they said in a joint statement on Wednesday.The two airlines said they had agreed the "terms and conditions of a proposed transaction whereby Etihad Airways will acquire a 49 percent equity stake in Alitalia," and they would tie up the deal as soon as possible subject to approval from regulators.Copyright AFP (Agence France-Presse), 2014