Banking & Finance
Wednesday, 22 May 2013 13:58
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NAIROBI: Kenya's central bank sought to mop up 13 billion shillings ($154.3 million) from the market on Wednesday through repurchase agreements (repos) and term auction deposits.The bank has regularly soaked up liquidity since last year to support the shilling by making it slightly more expensive to fund long dollar positions.Copyright Reuters, 2013 ...
LONDON: Lloyds Banking Group said on Wednesday that it would be able to meet new capital requirements without having to issue new equity or contingent capital, after Britain's financial regulator updated the bank on its position.Lloyds said it was confident in its capital position and re-affirmed previous targets for its core tier 1 ratio."Our strong capital position enables the group to actively support growth and lending in the UK economy as well as delivering sustainable ...
PARIS: International Monetary Fund chief Christine Lagarde will be grilled Thursday by prosecutors investigating a huge state payout to a disgraced tycoon during her time as French finance minister.Lagarde will appear before the Court of Justice of the Republic (CJR), which probes cases of ministerial misconduct, to explain her 2007 handling of a row that resulted in 400 million euros ($515m) being paid to Bernard Tapie.Tapie is a former politician and controversial business figure who ...
DUBAI: Etisalat's Nigeria affilate has signed a $1.2 billion loan with 13 Nigerian banks, the United Arab Emirates' No.1 telecom operator said on Tuesday.The medium-term facility will be used to refinance an existing $650 million loan and bolster Etisalat Nigeria's network, Etisalat said in a statement to the Abu Dhabi bourse.Etisalat owns a 40 percent stake in its Nigeria affiliate, which is formally known as Emerging Markets Telecommunications Services Ltd (EMTS).EMTS will acccount for 3.7 ...
KUALA LUMPUR: CIMB Group, southeast Asia's fifth-largest bank by assets, posted a 37 percent jump in first-quarter net profit, boosted by the sale of an insurance business, and warned of slowing demand for the region's exports.CIMB has a string of banking assets in almost every country in southeast Asia, which is relying increasingly on robust domestic demand in the face of weakening exports and an uneven global economic recovery."We remain mindful of macroeconomic challenges ahead ...
OSLO: Weak economic conditions outside Norway's borders could last until 2015 and Europe could emerge from its current economic crisis only after 2020, the governor of the Norwegian central bank said on Tuesday."When it comes to our view of the international economic situation (it) may last until 2015. The eurozone is struggling. It could be in the next decade before Europe is out of its difficulties," Oeystein Olsen told a parliamentary committee.He added that as ...
PORT LOUIS: Mauritius central bank Governor Rundheersing Bheenick said on Monday the government had granted him three more years in charge of setting the monetary policy on the Indian Ocean island.After taking up his post in 2007, Bheenick managed to ease rising inflationary pressures, introduced an independent monetary Policy Committee and helped develop an Islamic finance industry.The governor said the decision to keep him showed the government was happy with his policies, but analysts said ...
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