02122016Fri
Last update: Fri, 12 Feb 2016 02pm

Business & Finance - Managed Funds

South African bonds weaken in broader risk aversion JOHANNESBURG: South African bond yields rose on Monday, ending a recent rally as new data over the weekend showed China's foreign reserves fell, adding to worries over the growth of the world's second largest economy. Th benchmark paper due in 2026 added 10 points to 9.270 by 1117 GMT. Market analyst Ricardo Da Camara at ETM Analytics said government bonds were tracking the rand currency after it gave up its gains due to a risk averse environment. Copyright Reuters, 2016


Business & Finance - Banking & Finance

Romania sells 419mn lei of July 2027 T-Bonds BUCHAREST: Romania sold a slightly more than planned 419.4 million lei ($104.20 million) worth of July 2027 treasury bonds on Monday, with the average accepted yield at 3.65 percent, central bank data showed.Debt managers last issued the bonds in January at an average accepted yield of 4.02 percent. On Monday they had planned to sell 400 million lei.So far this year, the finance ministry has sold roughly 7.1 billion lei of domestic debt. Copyright Reuters, ...

Business & Finance - Banking & Finance

UniCredit vice chairman declines comment on talk of management change MILAN: UniCredit Deputy Chairman Luca Cordero di Montezemolo declined to comment on Monday on a statement made by an influential shareholder in the bank who said Italy's biggest bank by assets may need a management change. Leonardo Del Vecchio, a veteran Italian entrepreneur who holds just under 2 percent of UniCredit, is the first shareholder in the bank to publicly state that the lender may need a new boss as CEO Federico Ghizzoni battles to ...

Business & Finance - Banking & Finance

Dubai Islamic Bank seeks nod to raise ceiling for tier 1 capital by $750mn DUBAI: Dubai Islamic Bank (DIB) said on Monday it was seeking shareholder approval to issue up to $750 million in sharia-compliant capital boosting bonds. This would potentially raise its tier 1, or core capital, to $2.75 billion, the bank said in a statement to the bourse. United Arab Emirates' largest sharia-compliant lender has also sought shareholders approval for the board to be able to isssue a sukuk and/or other convertible shares if required. Last month, ...

Business & Finance - Industries & Sectors

Apple to open first India stores Apple Inc, the technology giant in all set to open its first retail store in India as it wins the clearance by the Indian government, as it seeks to expand itself in the second most populous country.According to Bloomberg, The Indian government is planning to push through Apple’s application to set up outlets, the anonymous source said. The Cupertino based tech is ‘resubmitting the request’, the person said.However, the source did not reveal the time-frame ...

Business & Finance - Banking & Finance

Russia shuts down two more banks MOSCOW: Russia's central bank said Monday it had revoked the licenses of two more banks as part of government efforts to consolidate the sector as economic troubles mount.Russia's 67th lender by assets, Intercommerz had failed to adequately assess risks despite the poor quality of its assets, the central bank said."At the same time the bank was involved in dubious transactions," it added.The Bank of Russia also said it had revoked the license of a smaller ...

Business & Finance - Industries & Sectors

Microsoft Lumia 650 the 'Last Lumia' Phone Lumia, which has become a synonym of Microsoft Mobile, the phone making subsidiary of Microsoft is all set to vanish all together.The parent Microsoft Corporation, after facing years of financial obstacles in its mobile business has, as per various rumors, finally decided to release the ‘Last Lumia’ device – the Microsoft Lumia 650.Nokia, the former handset giant founded the brand for its Windows-powered smart-phones in November 2011. Nokia released many Lumia models of different price ...