02072016Sun
Last update: Sun, 07 Feb 2016 01am

Banking & Finance

Business & Finance - Banking & Finance

Mexico's central bank sells $200mn after peso slump MEXICO CITY: Mexico's central bank on Tuesday said it sold $200 million of $200 million offered in an auction after a sharp slump in the peso currency. The central bank sold the dollars at an average weighted price of 18.4289 pesos per dollar. An auction is triggerd when the currency is trading 1 percent weaker than its fix rate in the previous session. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

UBS net profit soars on tax benefits ZURICH: Swiss banking giant UBS on Tuesday posted a 79-percent higher net profit for 2015, beating analyst expectations, with tax benefits offsetting a difficult fourth quarter hit by market turmoil.Last year, Switzerland's largest bank raked in a net profit of 6.2 billion Swiss francs ($6.1 billion, 5.5 billion euros), it said in its earning statement."Despite a very challenging environment, we had an excellent year," UBS chief Sergio Ermotti said in the statement.Investors were not convinced. ...

Business & Finance - Banking & Finance

SNB's Jordan says franc remains 'significantly overvalued,' ready to intervene GENEVA: Swiss National Bank Chairman Thomas Jordan said on Tuesday that the country's currency remains "significantly overvalued" compared to the euro and that the central remains ready to intervene, if necessary, to keep it from strengthening.The Swiss franc fell to 1.116 francs per euro at 1115 GMT, hovering near its lowest level since the SNB eliminated a 1.20 cap against the common currency just over a year ago.Speaking to the Swiss Press Club in Geneva, ...

Business & Finance - Banking & Finance

India central bank keeps rates on hold; says budget key to more easing MUMBAI: India's central bank kept its policy rate on hold at 6.75 percent on Tuesday, as widely expected, opting to wait until after the government's annual budget statement at the end February to decide on whether to cut interest rates further.Having cut the policy repo rate by 125 basis points in 2015, Reserve Bank of India Governor Raghuram Rajan warned on Friday against straying from the path of fiscal consolidation or relaxing the fight against ...

Business & Finance - Banking & Finance

Australia's NAB delays float of UK unit Clydesdale by a day LONDON: National Australia Bank Ltd said the spin off of its UK unit Clydesdale Bank Plc , expected on Tuesday, would be delayed for 24 hours.NAB, Australia's biggest lender by assets, did not provide details on why it had postponed the float of the nearly 180-year-old British lender.Clydesdale shares were priced at 180 pence on Monday, towards the lower end of NAB's wide 175-235 pence indicative range, bookrunners had told Reuters. Some analysts had considered ...

Business & Finance - Banking & Finance

Australia's NAB delays float of UK unit Clydesdale by a day LONDON: National Australia Bank Ltd said the spin off of its UK unit Clydesdale Bank Plc , expected on Tuesday, would be delayed for 24 hours.NAB, Australia's biggest lender by assets, did not provide details on why it had postponed the float of the nearly 180-year-old British lender.Clydesdale shares were priced at 180 pence on Monday, towards the lower end of NAB's wide 175-235 pence indicative range, bookrunners had told Reuters. Some analysts had considered ...

Business & Finance - Banking & Finance

Danske Bank Q4 tops forecast, hikes payout to shareholders COPENHAGEN: Denmark's largest financial institution, Danske Bank, plans to make its biggest ever payout to investors via a dividend and share buy-back, it said on Tuesday, after posting fourth-quarter earnings that beat forecasts.Copenhagen-based Danske Bank said it planned to pay a dividend of 8 Danish crowns per share and buy back 9 billion crowns ($1.3 billion) of stock.The bank was hit particularly hard by Europe's financial crisis and has until now struggled to keep up ...