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Gulf banks start to muscle in on global bond deals

2014-07-06 00:00:00

DUBAI, July 5 (Reuters): When the Kenyan government issued a debut US$2.0 billion Eurobond last month, most of the lead arrangers were top Western and African banks. But there was a standout: Qatar's QNB Capital. After decades during which banks...

Yuan deposits hit record high in S Korea in June

2014-07-06 00:00:00

SEOUL, July 5 (Reuters): Yuan deposits at banks in South Korea inched up by a net $640 million in June to a record high of $11.97 billion, central bank data showed on Friday, but the rate of increase slowed due...

Italian deficit-GDP ratio falls to 6.6pc in Q1

2014-07-06 00:00:00

ROME, July 5 (Xinhua): Italy's deficit-to-gross domestic product (GDP) ratio fell 0.7 per cent to 6.6 per cent in the first three months of 2014 over the same period in 2013, national statistics institute Istat said on Friday. Istat added...

Photo: GUANGZHOU, China: Old buildings, which are being demolished,

2014-07-06 00:00:00

Photo: D\\\'JILI, Democratic Republic of Congo: Dr Jill Biden, wife of the US vice-president,

2014-07-06 00:00:00

Photo: MADRID, Spain: People walking past an advertisement for wifi provider Gowex

2014-07-06 00:00:00

Short supply of gold hits jewellery sector hard

Sonia H Moni | 2014-07-06 00:00:00

Short supply of recycled or pure gold due to new tough provision of the passenger baggage rules for non-resident Bangladeshis (NRBs) for carrying gold has hit the country's jewellery sector hard. Bangladesh Jewellers Samity (BJS) general secretary Dewan Aminul Islam...

Japanese grapes fetch record $5,400

2014-07-06 00:00:00

TOKYO, July 5 (AFP) : Bridal couples at a Japanese wedding hall will have a special treat at their banquet: a bunch of fresh, juicy grapes that cost a record $5,400. A wedding hall operator bought the Ruby Roman grapes...

‘French households could face catch-up energy payments’

2014-07-06 00:00:00

PARIS, July 5 (Reuters) :  French households could face an extra 27 euro ($36.83) catch-up payment to settle their electricity bills after a government cap on prices was annulled, energy minister Segolene Royal was quoted saying. In an interview with...

Commodity prices mixed on US data, supply strains

2014-07-06 00:00:00

LONDON, July 5 (AFP) : Commodity markets diverged this week as metals benefitted from better-than-expected US jobs data while oil futures were hit by easing supply strains. OIL: Crude futures slid on easing concerns over supply disruptions in Iraq and...

Global Commodity Prices

2014-07-06 00:00:00

Dubai launching project to build world\\\'s biggest mall

2014-07-06 00:00:00

DUBAI, July 5 (Reuters): Dubai is launching a project to build an entertainment and hotel district that will include the world's largest shopping mall, the emirate's ruler, Sheikh Mohammed bin Rashid al-Maktoum, said on Saturday. Plans for the "Mall of...

Tata Power signs option deal to sell 5 pc in Indonesian coal miner

2014-07-06 00:00:00

MUMBAI, July 5 (Reuters): India's Tata Power Company Ltd said on Friday it has signed an option deal to sell a 5 per cent stake in coal miner PT Kaltim Prima Coal (KPC) to a unit of Indonesian conglomerate Bakrie...

Greece\\\'s next bailout loan instalment approved

2014-07-06 00:00:00

ATHENS, July 5 (Gulf News): A key body monitoring Greece's bailout approved the disbursement of the next batch of rescue loans Friday, after the country met outstanding reform targets that had delayed the payment. Greece's finance ministry said the Euro...

ArcelorMittal mulls bid for Italian steelmaker Lucchini

2014-07-06 00:00:00

LONDON, July 5 (Reuters): ArcelorMittal, the world's biggest steelmaker, is considering making an offer later this month for Italy's second largest steel producer Lucchini, according to Italian union CGIL FIOM. Lucchini, formerly owned by Russia's Severstal, was declared insolvent in...

Australian minister criticised over tax haven investment

2014-07-06 00:00:00

SYDNEY, July 5 (Xinhua): Australia's Communications Minister Malcolm Turnbull has come under fire after investing 1 million Australian dollars (US$940,000) in a hedge fund based in the tax haven Cayman Islands, local media reported Friday. Financial transparency campaigners told the...

India\\\'s June coal imports highest in 2014 as prices fall

2014-07-06 00:00:00

NEW DELHI, July 5 (Reuters): India's import of coal and coke rose 12 per cent to 18.5 million tonnes in June from a year earlier, according to provisional data from market operator mjunction, indicating weak prices continue to attract buyers...

Spanish govt passes new measures on trade issues

2014-07-06 00:00:00

MADRID, July 5 (Xinhua): The Spanish government passed on Friday new measures to enhance market unity in Spain. These new measures were announced at the press conference following the cabinet meeting. The government said that now it would be easier...

Anti-poaching experts gather amid warnings super-rich drive illegal trade

2014-07-06 00:00:00

GENEVA, July 5 (AFP) :  Hundreds of experts will gather in Geneva next week to discuss a "disturbing upswing" in the illegal wildlife trade, driven increasingly by ostentatious displays of wealth by the super-rich. "We're seeing a shift from health...

Sri Lanka central bank sees no overheating despite lower rates

2014-07-06 00:00:00

COLOMBO, July 5 (Reuters): Sri Lanka's economy can achieve its growth target this year without risk of overheating, central bank governor Ajith Nivard Cabraal said on Friday, despite interest rates at multi-year lows. The central bank has been maintaining low...

Thailand\\\'s state-run PTT appoints new chairman

2014-07-06 00:00:00

BANGKOK, July 5 (Reuters): Thailand's largest energy firm PTT Pcl appointed a new chairman on Friday as part of the military government's attempts to reshuffle the company and reform the country's state enterprise system. Piyasvasti Amranand, a former energy minister,...

Photo: Jamuna Bank Foundation

2014-07-06 00:00:00

Cabinet body okays provision for ‘unsolicited PPP proposal’

2014-07-06 00:00:00

Cabinet Economic Affair Committee on Sunday gave its approval in principle to a new provision for entertaining unsolicited offer from the private sector to implement different projects under public-private partnership (PPP). A meeting of the committee, with Finance Minister AMA...

Photo: Workers producing puffed rice at Kamrangirchar

2014-07-06 00:00:00

Govt-appointed RMG factory inspection yet to resume

Monira Munni | 2014-07-06 00:00:00

The government-initiated readymade garment (RMG) factory assessment programme is yet to resume even after six months have passed. Sources have attributed this to delay in completing the first-phase inspection reports, ending disputes between the local and foreign experts over inspection...

China to strengthen delisting rules to improve health of stock market

2014-07-06 00:00:00

SHANGHAI, July 5 (Reuters): China has issued a draft of new rules to get loss-making companies or those in violation of regulatory practices to delist, in its latest move to improve stock market conditions. The China Securities Regulatory Commission (CSRC)...

Coca-Cola to increase investment in Bangladesh CSR

Mohammad Ali | 2014-07-06 00:00:00

Global soft drink giant Coca-Cola has pledged to increase its investment in the corporate social responsibility (CSR) programme as much as its business grows in Bangladesh. "Our business is small here. We will be growing bigger. With the growing of...

Prospect of IT ethos beckons

2014-07-06 00:00:00

The graduate youngsters of different public and private universities selected for developing as future IT leaders have vowed to become entrepreneurs to run businesses of their own and make their contribution to the booming country's IT sector, reports BSS. A...

Rice sale under OMS begins in districts from October

FE Report | 2014-07-06 00:00:00

The Ministry of Food (MoF) will restart selling rice under open market sale (OMS) programme at the district level from October next. The programme was suspended since May last following the start of ongoing Boro procurement drive across the country,...

Hong Kong hires banks for first Islamic bond: IFR

2014-07-06 00:00:00

HONG KONG, July 5 (Reuters): Hong Kong has mandated HSBC , Standard Chartered, CIMB Group Holdings and National Bank of Abu Dhabi to arrange its first Islamic bond issue, IFR reported on Friday. The Hong Kong Monetary Authority is handling...