Bloomberg Russia succeeded in its battle to overturn a $50 billion arbitration ruling after a Dutch court ruled that the panel of judges who issued the record-setting award to the former owners of Yukos Oil Co. had no right to review the dispute. The ruling by a court in the Hague on Wednesday was a sweeping victory for the ...
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Argentina in junk bond spree as emerging issuers line up
Bloomberg Argentina’s blockbuster $16.5 billion bond sale is opening up the floodgates for junk-rated issuers in developing countries. The Latin American country’s return to global capital markets for the first time since its 2001 default brought high-yield issuance from emerging markets to $18 billion this week. That’s more than the previous 11 weeks combined, and money managers from Aviva ...
Read More »Canadian supplement maker Iovate to seek $1 billion sale
Bloomberg Iovate Health Sciences International Inc., the Canadian maker of “MuscleTech†and “Six Star Pro Nutrition†supplements, is seeking a buyer in a deal that could value the company at as much as $1 billion, people with knowledge of the matter said. The Ontario-based vendor of weight-loss, muscle-building and nutrition products has hired an adviser to arrange the sale, ...
Read More »â€˜US 10-year yield may fall to record low’
Bloomberg Benchmark 10-year Treasury yields may tumble to a never-before-seen 1.25 percent as investors seek alternatives to lower interest rates around the world, according to Prudential Financial Inc. “We’re going to be low and range bound,†said Robert Tipp, the head of global bonds and foreign exchange for fixed-income division of the second-largest U.S. life insurer. “This is an ...
Read More »Obama arrives in Riyadh on fence-mending visit
Riyadh / AFP US President Barack Obama arrived in Saudi Arabia for a two-day visit on Wednesday hoping to ease tensions with Riyadh and intensify the fight against extremists. He also seeks to focus discussions on efforts to end wars in Syria and Yemen. Dressed in a grey suit, Obama emerged at 1:14 pmand descended the steps of Air ...
Read More »Egypt blasts UN chief over case of rights groups
CAIRO /Â AP Egypt has blasted the UN chief for calling for a fair trial for two prominent rights activists accused of illegally receiving foreign funds for their NGOs. Foreign Ministry spokesman Ahmed Abu Zeid says in a statement on Wednesday that comments by UN Secretary-General Ban Ki-moon are an attempt to intimidate Egypt’s judiciary and meddle in its affairs. ...
Read More »Al-Sadr appeals for solution to Iraq’s political crisis
BAGHDAD /Â AP An influential Iraqi Shiite cleric has called on the United Nations and the Organization of Islamic Countries to help find a solution to the country’s simmering political crisis “even through holding early elections.” In a handwritten statement issued on Wednesday, cleric Muqtada Al Sadr, ordered Sadrist lawmakers to withdraw from a parliament sit-in that demands the country’s ...
Read More »Yemen rebels to join delayed talks
Sanaa / AP Yemen’s Houthi rebels and their allies have agreed to join delayed peace talks in Kuwait after the United Nations assured them that pro-government forces would abide by a ceasefire. The UN-brokered talks were set to open in Kuwait on Monday but were put off after the Iran-backed insurgents failed to show up over alleged Saudi violations ...
Read More »South Sudan rebel’s return delay fans fears for peace
Juba / AFP Fragile hopes for an end to South Sudan’s civil war are being tested by the rebel leader’s failure to return to the capital to form a unity government. International pressure is growing after Riek Machar, a former rebel leader turned deputy president who was fired, became a rebel leader again and has now fought his way ...
Read More »Battle over campaign to boycott Israel goes global
Jerusalem / AFP When word spread that the Ahava cosmetics firm would move its factory from the occupied West Bank, it set off alarm bells among Israelis for reasons nothing to do with its products. There were suspicions that Ahava, which sells Dead Sea minerals and mud around the world, had made the decision because of mounting pressure to ...
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