05262016Thu
Last update: Thu, 26 May 2016 11pm

Banking & Finance

Business & Finance - Banking & Finance

UniCredit names Dewan head of Asia financing LONDON: Italian bank UniCredit has appointed Amit Dewan as head of financing and advisory in Asia-Pacific, a newly created role at the bank. Dewan will start on July 1 and report to Michele Amadei, head of the Asia-Pacific region, UniCredit said on Thursday. He will relocate to Singapore from London. Dewan will have regional responsibility for debt capital markets, equity capital markets, corporate finance advisory, export finance and natural resources. UniCredit said the appointment is part of its plan to strengthen its international network, including in Asia, where it has worked on several deals, including several major deals involving ChemChina, which is buying Swiss seeds and pesticide maker Syngenta in a US$43bn deal. Dewan previously managed UniCredit's lending team within infrastructure and power project finance. He joined UniCredit in 2007, and previously worked at Bank of Scotland and ANZ in the UK and Asia. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

US Fed awards $63.29bn in reverse repos NEW YORK: The Federal Reserve on Thursday awarded $63.29 billion of one-day, fixed-rate reverse repurchase agreements to 33 bidders at an interest rate of 0.25 percent, the New York Fed said on its website. On Wednesday, the Fed allotted $63.92 billion in one-day reverse repos to 30 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.25 percent. The reverse repurchase agreement program is seen ...

Business & Finance - Banking & Finance

BOJ's Kuroda vows to ease more if yen moves hurt price target SENDAI: Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank would not hesitate easing monetary policy further if market moves, including a spike in the yen, threatened prospects for achieving its 2 percent inflation target.Kuroda shrugged off the view that Japan was triggering a currency devaluation war with its ultra-loose monetary policy, saying that its aggressive easing steps were aimed purely at achieving its price goal."Like other major advanced nations, the BOJ ...

Business & Finance - Banking & Finance

ECB growing frustrated over governments' foot-dragging on reforms, minutes show FRANKFURT: There appears to be increasing frustration within the European Central Bank over the reluctance of governments to push through unpopular reforms to support the ECB's stimulus measures, the minutes of its April monetary policy meeting showed on Thursday. At its last meeting on April 20 and 21, the 25-member governing council "strongly reiterated the need for other policy areas to contribute much more decisively, both at national and European levels, in order to reap ...

Business & Finance - Banking & Finance

Deutsche Bank sees further big legal costs but end in sight FRANKFURT: Deutsche Bank expects further big legal costs this year to deal with a raft of scandals that have hurt profits and dogged its reputation but is coming closer to ending its litigation nightmare, its chief executive said on Thursday."I am cautiously confident that we are gradually approaching the home straight as far as our litigation is concerned," John Cryan said in a speech to the annual meeting of shareholders.Germany's biggest lender has currently set ...

Business & Finance - Banking & Finance

Indonesia central bank holds rates, trims 2016 growth forecast JAKARTA: Indonesia's central bank on Thursday kept its main policy rates steady, as expected, and trimmed its projection for economic growth this year after the first-quarter number was below forecasts.Bank Indonesia (BI) left its current and future benchmark rates at 6.75 percent and 5.50 percent, respectively, for a second monthly meeting.The central bank trimmed its growth forecast for this year to 5.0-5.4 percent from 5.2-5.6 percent.Annual growth in the first quarter was 4.92 percent, lower ...

Business & Finance - Banking & Finance

ECB closed ranks against critics in April meeting, minutes show FRANKFURT: European Central Bank rate setters agreed in April that they need to defend the bank against a growing number of critics, as its ultra-easy policy came under fire in Germany and elsewhere, minutes of their meeting showed on Thursday.German banks and savers have complained the ECB's ultra-low interest rates and money-printing were hitting their profits. Finance Minister Wolfgang Schaeuble even argued they were partly to blame for the rise of the right-wing anti-immigration party, ...