12052016Mon
Last update: Mon, 05 Dec 2016 01pm

Managed Funds

Business & Finance - Managed Funds

Zimbabwe to start circulating new bond notes on Monday HARARE: Zimbabwe's central bank said on Saturday it will circulate $10 million worth of new bond notes on Monday, a quasi-currency that authorities expect to ease a serious cash crunch, but will limit withdrawals to curb any abuses. The Reserve Bank of Zimbabwe (RBZ) first announced the plan in May to issue bond notes to address chronic cash shortages and supplement dwindling US dollars that have been in circulation for the past seven years.But many Zimbabweans are sceptical about the scheme after a 2008 multi-billion percent inflationary meltdown caused by rampant money-printing. The new plan has already caused a run on the banks as Zimbabweans empty their accounts of hard currency.The bond notes will be officially interchangeable 1:1 with the US dollar.The RBZ said it will initially release bond notes in $2 denominations and would also introduce $1 bond coins."The banking public is advised that no new accounts will be ...

Business & Finance - Managed Funds

France to sell 2.5-3.5bn eur of OATs at auction next week PARIS: France will sell up to 3.5 billion euros ($3.71 billion) of 15- and 25-year bonds at its monthly long-term bond auction on Dec. 1, the Agence France Tresor public debt management agency said on Friday. Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

China's finance ministry sells 3-month bills at 2.1092pc SHANGHAI: China's Ministry of Finance auctioned 12 billion yuan ($1.74 billion) of three-month bills in the interbank market on Friday at an average yield of 2.1092 percent, traders said. The auction yield for the three-month bills came in below Thursday's benchmark secondary market yield of 2.1499 percent for three-month government bills.Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

Japan's GPIF posts $20.9bn investment gain in July-Sept quarter TOKYO: Japan's Government Pension Investment Fund, the world's largest pension fund, posted a gain of 2.37 trillion yen ($20.9 billion) in the fiscal second quarter thanks to a rebound in global stock markets. The result follows GPIF's historic policy shift in 2014 of increasing its investments in riskier assets such as stocks for higher returns.During the quarter, world stocks rebounded from lows hit after Britain voted in June to leave the European Union, which triggered ...

Business & Finance - Managed Funds

Rosneft approves $17 billion rouble bond programme MOSCOW: Russia's largest oil producer Rosneft is to return to the county's domestic bond market after a two-year absence with a programme worth 1.071 trillion roubles ($16.6 billion), the company said on Thursday. Rosneft said the money raised might be used for foreign projects, new upstream business as well for planned refinancing of outstanding debt.The bonds issued under the programme would have a maturity of up to 10 years. Rosneft, which is under Western sanctions ...

Business & Finance - Managed Funds

Italian bonds rally as ECB soothes nerves ahead of referendum LONDON: Low-rated euro zone government bond yields fell sharply and Italy's spread to German equivalents came off recent highs on Thursday on growing confidence the ECB will support the market in a difficult political environment. Italian, Spanish and Portuguese bond yields were down 6-8 basis points on Thursday after the European Central Bank flagged political issues in the eurozone, which the market took as a statement of intent to provide stimulus if needed.The ECB said ...

Business & Finance - Managed Funds

Etihad Airways sets final size of five-year sukuk at $1.5bn DUBAI: Etihad Airways has set its planned five-year sukuk at $1.5 billion, the upper end of an expected range of $1.25 billion to $1.5 billion, banks leading the transaction said on Wednesday. The UAE airline set the final spread for its debut Islamic debt issuance at 210 basis points over midswaps, after one bank involved said on Tuesday that final pricing was seen at around 215 basis points over midswaps. Allocation of the privately placed ...