01192017Thu
Last update: Thu, 19 Jan 2017 05am

Banking & Finance

Business & Finance - Banking & Finance

Banco Santander to issue up to 57bn euros in debt over two years MADRID: Spain's Banco Santander will issue between 43 billion and 57 billion euros ($45 billion-$60 billion) in debt over the next two years to meet capital targets aimed at enabling systemically important banks to absorb losses, it said on Wednesday. The euro zone's second largest bank by market value said the funds would help it raise its capital ratio above 11 percent by December 2018 from 10.47 percent last September under the strictest criteria, fully-loaded CET1.Copyright Reuters, 2017 ...

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HSBC chairman says banks may trigger Brexit contigency plans by March LONDON: HSBC chairman Douglas Flint said some banks may begin triggering their contingency plans in March this year when formal divorce talks start if there is no clarity on whether Britain will retain access to the European single market when it leaves the EU. Flint said banks need guidance from the UK government on its objectives in the EU divorce talks and ensuring trade agreement. "For those businesses that don't have infrastructure already in place ...

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South Africa's net foreign reserves fall to $40.809bn in Dec JOHANNESBURG: South Africa's net foreign reserves fell to $40.809 billion in December from $41.077 billion in November, the Reserve Bank said on Monday. Gross reserves rose to $47.356 billion from $47.043 billion, the central bank's data showed.The forward position, which represents the central bank's unsettled or swap transactions, fell to $1.771 billion in December from $2.412 billion in the previous month.Copyright Reuters, 2017 ...

Business & Finance - Banking & Finance

China Dec forex reserves fall for 6th month, near $3 trillion level BEIJING: China's foreign exchange reserves fell to near six-year lows in December, but held just above the critical $3 trillion level, as authorities stepped in to support the weakening yuan ahead of U.S. President-elect Donald Trump's inauguration.China's reserves shrank by $41 billion in December, slightly less than feared but the sixth straight month of declines, data showed on Saturday, after a week in which Beijing moved aggressively to punish those betting against the currency and ...

Business & Finance - Banking & Finance

China Dec forex reserves fall for 6th month, near $3trn level BEIJING: China's foreign exchange reserves fell to near six-year lows in December, but held just above the critical $3 trillion level, as authorities stepped in to support the weakening yuan ahead of US President-elect Donald Trump's inauguration. China's reserves shrank by $41 billion in December, slightly less than feared but the sixth straight month of declines, data showed on Saturday, after a week in which Beijing moved aggressively to punish those betting against the currency ...

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Romania central bank holds rates, says budget impact unclear BUCHAREST: Romania's central bank kept its benchmark interest rate unchanged at a record low of 1.75 percent on Friday, striking a balance between the twin impacts of negative inflation and the government's fiscal expansion plans. Central Bank Governor Mugur Isarescu said inflation would return to positive territory in the first quarter, but that it would be lower than initially forecast. Consumer prices fell a greater-than-expected 0.7 percent on the year in November and were in ...

Business & Finance - Banking & Finance

ECB's Mersch says too early to declare victory over weak economy PARIS: It is still premature to declare victory over economic weakness in the euro zone despite the latest figures showing a pick-up in inflation, European Central Bank Executive Board member Yves Mersch said on Friday. "Statistics from just one month is not going to change our position," Mersch told a conference in Paris. Mersch, considered a hawk, added that wages were not growing fast enough in the bloc to fuel inflationary pressure. Inflation - below ...