08252016Thu
Last update: Thu, 25 Aug 2016 09am

Business & Finance - Banking & Finance

Serbian central bank intervenes to bolster dinar BELGRADE: The Serbian central bank sold euros on the domestic currency market on Friday to bolster the dinar, which fell to new lows on investors concerns over banks' exposure to Swiss franc-denominated loans, dealers said. The bank intervened with the dinar trading at 123.2 to the euro, or 0.33 percent weaker than Thursday's close. The dinar was trading at 123.1 at 1504 GMT.Copyright Reuters, 2015


Business & Finance - Managed Funds

France sells extra 2.4bn euros of bonds after Thursday auction PARIS: France sold on Friday an extra 2.1 billion euros medium-term bonds and 343 million euros of inflation-linked bonds after an auction on Thursday, the Agence France Tresor public debt management agency said on Friday. The non-competitive bids meant that AFT sold a total 10.6 billion euros ($11.96 billion) of medium-term bonds and 1.843 billion euros of inflation-indexed bonds at the auction. Under the French system, buyers not only submit competitive bids at the auction, ...

Business & Finance - Industries & Sectors

Honda opts for Takata rival to supply Accord air bags BEIJING/TOKYO: Honda Motor Co has chosen a competitor of embattled Takata Corp to supply air bags for the next North American version of its Accord sedan, the automaker's best-selling vehicle, two people with knowledge of the decision said. In the first major defection by a carmaker since Takata's safety crisis began, Honda, Takata's largest customer, will use air bags made by Toyoda Gosei for the all-new Accord, scheduled to go on sale in August 2017, ...

Business & Finance - Managed Funds

Long-dated UK bond yields track euro zone debt to new record low LONDON: British government bond yields hit new record lows on Friday, dragged lower by a slump in euro zone yields after Thursday's announcement by the European Central Bank of a bond buying plan. Thirty-year gilt yields led the move downwards and hit a record low 2.126 percent, 8 basis points lower on the day, as long-dated Bund yields also fell sharply. "It's a massive contagion effect," said Marc Ostwald, fixed income strategist at ADM Investor ...

Business & Finance - Banking & Finance

Bank of England's Carney says appropriate to look through oil prices LONDON: Bank of England Governor Mark Carney said on Friday it would be appropriate to look through the effect of declining oil prices on inflation at a time when wages are growing. Interest rates would need to increase gradually over the course of the next three years, if the BoE was to return inflation to its 2 percent target, he said in a newspaper interview in Davos, Switzerland. "It is appropriate to look through those ...

Business & Finance - Banking & Finance

BNP Paribas's Polish arm Bank BGZ may face strike over redundancies WARSAW: BNP Paribas's Polish arm Bank BGZ said on Friday it was facing strike action by staff after it failed to reach an agreement with trade unions over redundancy packages and restructuring bonuses. The unions notified the bank that they would call a strike if their demands were not met, the bank said in a statement."The company's management board will make due diligence to resolve the dispute," the bank said. BGZ's spokeswoman declined to comment ...

Business & Finance - Managed Funds

Ghana 91-day bill yield dips to 25.8335pc ACCRA: The Bank of Ghana said the yield on its 91-day bill fell to 25.8335 percent at an auction on Friday, from 25.8426 percent at the last sale. The bank said it had accepted all 1.018 billion cedis ($311.38 million) worth of bids tendered for the 91-day paper. Copyright Reuters, 2015