07302016Sat
Last update: Sat, 30 Jul 2016 08pm

Business & Finance - Managed Funds

South Korea T-bond yields hit record-low closing rates SEOUL: South Korean treasury bond yields for all maturities fell to record-low closing rates on Monday as President Park Geun-hye's comment on the interest rate policy prompted traders to boost expectations for a rate cut soon. Yields on the 1-year treasury notes shed 4.1 basis points to close at 1.981 percent. Yields for longer maturities all extended their recent record-breaking declines. President Park told a news conference early in the day that regarding the issue of an interest rate reduction, policy authorities would respond in a timely manner through cooperation with each other. Bond prices rallied despite clarification later by a policy aide to Park that she was not assuming an interest rate cut as a sure thing. Copyright Reuters, 2015


Business & Finance - Banking & Finance

French central bank sees Q4 2014 growth at 0.1pc PARIS: The Bank of France left its growth estimate for the last quarter of 2014 unchanged at 0.1 percent on Monday, with an increase in the agri-food, pharmaceutical and transport equipment sectors offset by falls in metalworking and chemical activity. The estimate was its third on the quarter and the same as an earlier one released in December. The central bank's business sentiment indicator for the industrial sector slipped to 96 in December from 97 ...

Business & Finance - Banking & Finance

Qatar reserves reach record high of $46.5bn DOHA: Qatar's international reserves hit an all-time high of $46.5 billion (39 billion euros) in November and are expected to climb higher despite falling oil prices, Qatar National Bank figures revealed.The latest figure was a jump of almost $7 billion on the level of reserves recorded by the energy-rich Gulf state at the same time in 2013.In its monthly monitor, the emirate's largest commercial bank said it expected the new record to be broken in ...

Business & Finance - Industries & Sectors

Russia's Magnit says December sales rise 37.3pc MOSCOW: Russia's biggest food retailer Magnit said on Monday sales rose by 37.3 percent in December, year-on-year, to 87.4 billion roubles ($1.4 billion), after a 33.2 percent rise in the previous month. The retailer said in a statement retail revenue for 2014 increased by 31.61 percent to stand at 762.7 billion roubles.The company opened 204 stories in December, it added.Copyright Reuters, 2015

Business & Finance - Industries & Sectors

Roche to buy majority stake in Foundation for up to $1.18bn ZURICH/LOS ANGELES: Roche Holding will acquire a majority stake in molecular and genomic analysis firm Foundation Medicine Inc for up to $1.18 billion, it said on Monday, in a move to bolster the Swiss drugmaker's personalised cancer treatments.This targeted approach to treating disease is gaining traction in many medical fields and is attractive to governments and insurers who pay for healthcare, since it means that drugs should go only to patients who are likely to ...

Business & Finance - Industries & Sectors

Rio Tinto to invest $500mn in diamond project in India NEW DELHI: Global mining company Rio Tinto plans to invest $500 million in a diamond project in India's Madhya Pradesh state, its Chief Executive Officer Sam Walsh said on Monday. The company is waiting for environment approvals from the Indian authorities before starting the project, Walsh told reporters.Copyright Reuters, 2015

Business & Finance - Banking & Finance

Banque Saudi Fransi Q4 profit rises 211pc, beats forecasts DUBAI: Banque Saudi Fransi, part-owned by Credit Agricole, posted a 211 percent rise in fourth-quarter net profit on Monday, beating analyst forecasts.Saudi Arabia's fifth-largest bank by assets made 851 million riyals ($226.68 million) in the three months to Dec. 31, up from 274 million riyals in the same period a year earlier, according to a statement to Riyadh's bourse.Analysts polled by Reuters on average forecast the bank would make a quarterly profit of 780.47 million ...