Saturday, 18 May 2013 20:10
Posted by Muhammad Iqbal
ATHENS: Greece's second-largest lender Piraeus Bank has hired four international investment banks as advisers on its 7.33 billion euro ($9.4 billion) share issue, two bankers close to the procedure told Reuters on Saturday."Goldman, Barclays, Deutsche Bank and Bank of America-Merrill Lynch will be acting as advisers," one of the bankers said.Greece's top four banks, including Piraeus, need a total of 27.5 billion euros to repair their solvency after losses on sovereign debt writedowns and bad ...
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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 percent of Etisalat's revenue in 2013, HSBC forecasts in a research note.Copyright Reuters, 2013 ...
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 ...
ATHENS: Greece's second-largest lender Piraeus Bank has hired four international investment banks as advisers on its 7.33 billion euro ($9.4 billion) share issue, two bankers close to the procedure told Reuters on Saturday."Goldman, Barclays, Deutsche Bank and Bank of America-Merrill Lynch will be acting as advisers," one of the bankers said.Greece's top four banks, including Piraeus, need a total of 27.5 billion euros to repair their solvency after losses on sovereign debt writedowns and bad ...
RYTRO: There is little chance that consumer inflation in Poland will quickly return to the central bank's 2.5 percent target, a Monetary Policy Council member said on Saturday, leaving scope for further monetary easing.Jerzy Hausner, one of the central bank's 10 rate-setters, also told Reuters that economic growth could accelerate to about 3 percent late next year, but there was also the risk of a more protracted slowdown.Earlier this week data showed Poland's economy, after ...
LAGOS: Nigerian interbank lending rates rose 1.25 percentage points on Friday to an average of 14.5 percent, compared with 13.25 percent last week as payment for foreign exchange and bonds purchases drained liquidity, traders said."The market opened with a very minimal cash balance on Friday, while the payment for foreign exchange and bonds further drained liquidity in the market pushing up cost of borrowing," one dealer said.Nigeria sold 110 billion naira ($700 million) worth of ...
