Tuesday, 30 April 2013 20:30
Posted by Muhammad Iqbal
ZURICH: Swiss banking giant UBS reported on Tuesday a slight drop in its first quarter net profit, but nonetheless easily beat market expectations due to an influx of fresh cash.During the first three months of the year, the bank saw its net profit slide 4.5 percent compared to a year ago to 988 million Swiss francs (804 million euros, $1.052 billion).The result was meanwhile far higher than the expectations of analysts polled by Swiss agency ...
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GREATER NOIDA: Cambodia is studying the possibility of issuing sovereign bonds, the director general of its central bank said on Friday at the Asian Development Bank's annual meeting in India.Nguon Sokha gave no details of the size or timing of the possible bond issue.Cambodia expects its economy to grow more than 7 percent in 2013, and sees inflation at below 2 percent, she said.Copyright Reuters, 2013 ...
BRATISLAVA: European Central Bank policymaker Ewald Nowotny said he was astonished by the market reaction to his comment earlier on Friday that the possibility of the ECB cutting its deposit rate below zero is not relevant for now.The euro rose to a session high against the dollar after those remarks, but fell back after the latest comments."I was a bit astonished by the reaction of the markets to my comments concerning the deposit facility," Nowotny ...
MUMBAI: Reserve Bank of India cut its main interest rate by 25 basis points on Friday, in the third such move this year, but said there was "little space" for further reductions to help the slowing economy.After meeting in the financial capital Mumbai, the Reserve Bank of India (RBI) said that the benchmark repo rate, at which it lends to commercial banks, would fall to 7.25 percent, as expected by most economists.Copyright AFP (Agence France-Presse), ...
SYDNEY: Australian banking giant Westpac on Friday reported a better-than-expected 11 percent increase in first-half net profit to a record Aus$3.3 billion (US$3.4 billion).Australia's second largest bank by market capitalisation said cash earnings, the preferred measure which strips out volatile items, were up 10 per cent to Aus$3.53 billion against the first half last year.Analysts had forecast cash profit of Aus$3.47 billion for the six months to March 31.The bank noted that all its Australian ...
MUMBAI: India's central bank is expected to slightly lower interest rates for the third time in a row on Friday, despite warnings from policymakers that the room for cuts is limited.Economists say the Reserve Bank of India is likely to decide on a 25 basis points cut in the benchmark repo rate after meeting in the financial capital Mumbai, with an announcement expected at 11:00am (0530 GMT).They stuck with predictions, based on a recent easing ...
ZURICH: Swiss banking giant UBS reported on Tuesday a slight drop in its first quarter net profit, but nonetheless easily beat market expectations due to an influx of fresh cash.During the first three months of the year, the bank saw its net profit slide 4.5 percent compared to a year ago to 988 million Swiss francs (804 million euros, $1.052 billion).The result was meanwhile far higher than the expectations of analysts polled by Swiss agency ...
LONDON: Britain's state-rescued Lloyds bank said on Tuesday that it rebounded into first-quarter net profits on the back of rising income, deep cost-cutting and falling impairment charges.Earnings after taxation hit £1.53 billion ($2.37 billion, 1.81 billion euros) in the three months to the end of March, Lloyds said in a results statement. That contrasted with a slender net loss of £5.0 million in the same part of 2012.Lloyds was boosted by a one-off gain of ...
