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Last update: Sun, 25 Sep 2016 08am

Banking & Finance

Business & Finance - Banking & Finance

Bank of England's Saunders sees more scope to loosen policy LONDON: New Bank of England policymaker Michael Saunders said in an interview published on Tuesday that the central bank still had scope to boost the economy further if needed, but had to be alert to adverse side-effects from loose monetary policy. "If we thought the adverse side effects of monetary policy easing outweighed the potential boost, then our willingness to use the tool of easing, even in a time the economy was sluggish, would be much less," he told the Financial Times. "I do not think we are at that tipping point, but that is something we have to be constantly on the alert for," he added. In extracts from the interview published earlier on Tuesday, Saunders said he expected the economy would slow less than most analysts had forecast, and that higher unemployment was one possible trigger for him to back a rate rise. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Bank of Canada: low rates mean firms need to cut expectations QUEBEC CITY: Interest rates will stay lower for longer, and businesses need to adjust expectations for return on investment or Canada risks not getting the productivity improvement it needs for growth, Bank of Canada Governor Stephen Poloz said on Tuesday. In a speech outlining what low rates mean for businesses and governments, Poloz said it was obvious Canada's economy still faced strong headwinds and needed stimulative monetary policy to counteract them and move the country ...

Business & Finance - Banking & Finance

Credit Agricole hires Sfeir as returns M&A advisory to the Gulf DUBAI: Credit Agricole has appointed Marc Sfeir to head its mergers and acquisitions business in the Middle East, sources aware of the matter said on Tuesday, marking the return of such operations to the Gulf after a five-year hiatus. Sfeir, who started at the bank this week, will be based in Dubai and joins from Bank of America-Merrill Lynch, the sources said, speaking on condition of anonymity as the information isn't public. The bank previously ...

Business & Finance - Banking & Finance

Credit Suisse sees scope for UK mining dividend rise LONDON: Dividend yields at British mining companies have hit a five-year low just as cash flows in the sector improve, prompting some analysts to call for higher payouts as early as next year. A slump in demand in recent years, owing largely to China's economic slowdown, led to sharp drops in prices of coal and metals, leaving companies nursing heavy losses and high debt and forcing them to slash payouts and spending plans. But now, ...

Business & Finance - Banking & Finance

ECB bond-buying ebbs in Portugal when Lisbon needs it most LONDON: ECB bond-buying appears to be losing its potency in Portugal just when the country most needs the backstop it provides. Portugal's economic growth is lacklustre, its banking sector weak and its coalition government at odds with Brussels over the budget deficit. To top it all, jittery markets are counting down to a vital ratings review on Oct. 21. DBRS is the last major ratings agency to give Portugal the investment grade rating it needs ...

Business & Finance - Banking & Finance

Egypt central bank seen hiking rates on Thurs by 50 to 200 basis points CAIRO: Egypt's central bank is expected to raise interest rates on Thursday, a Reuters poll showed, in an attempt to fight inflation and attract foreign investment as the country pushes through with economic reforms. Egypt has been struggling with a shortage of foreign currency since the 2011 uprising drove away tourists and foreign investors - two major sources of hard currency. Reserves have more than halved since then to around $16.5 billion in August. The ...

Business & Finance - Banking & Finance

Fed policymakers begin 2-day meeting, decision due on Wednesday WASHINGTON: Policymakers at the Federal Reserve started a two-day policy meeting on Tuesday at 1 p.m. EDT, a Fed official said. The meeting is due to finish on Wednesday.Copyright Reuters, 2016 ...