02082016Mon
Last update: Mon, 08 Feb 2016 09pm

Banking & Finance

Business & Finance - Banking & Finance

National Bank of Egypt offers to buy CI Capital for 1bn Egyptian pounds CAIRO: The National Bank of Egypt's subsidiary Al Ahly Capital has submitted a non-binding offer to buy 100 percent of Commercial International Bank's CI Capital for 1 billion Egyptian pounds ($127.71 million), CIB said on Monday. CI Capital had already accepted a 1 billion pound bid from Orascom Telecom and Technology, but the deal has not been finalised. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Allianz, Bank of America invest in US wind farms FRANKFURT: Allianz and Bank of America are investing in two onshore wind parks developed by French utility EDF, the German insurer said on Monday, marking the group's first wind investment in the United States. Insurers and infrastructure investors have ramped up investments into wind power in recent years, eager for the guaranteed returns these assets offer in an otherwise low interest-rate environment. "We believe the financial services sector is in a unique position to help ...

Business & Finance - Banking & Finance

Poland's central bank to maintain independence WARSAW: Poland's central bank will maintain its independence and keep rates unchanged, recently appointed rate-setter Marek Chrzanowski told Reuters, despite statements from ruling party leaders favouring a doveish policies."I feel no pressure at all, (there are) no attempts to sway our decisions. As the Monetary Policy Council, we are independent, we do not get any action recommendations," Chrzanowski told Reuters in an interview released on Monday. Before October parliamentary election swept them to power, a ...

Business & Finance - Banking & Finance

Volkswagen says is open to listing trucks business FRANKFURT: Volkswagen AG's trucks business may pursue acquisitions or even a public listing, the company said on Monday, only days after the parent company was forced to delay publishing earnings in the wake of a diesel emissions scandal."We're keeping all options open in regards to expanding overseas, about a possible takeover as well as about a stock market listing," a spokeswoman for Volkswagen trucks said on Monday, declining to comment on whether a full or ...

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, ...