News

  Bloomberg Argentina plans to sell as much as $15 billion of bonds in its return to global bond markets after more than a decade of isolation, setting the stage for the biggest emerging-market sovereign sale since at least 1999. The nation reduced the yields it was initially offering investors after surveying potential buyers about their interest in the sale. ...

  Bloomberg Peru kept borrowing costs unchanged for a second month as slowing inflation and a rally in the sol give policy makers more time to gauge the impact of earlier rate increases. The central bank board, led by bank President Julio Velarde, maintained the key rate at 4.25 percent, matching the forecasts of 11 of 14 economists surveyed by ...

  Bloomberg Keppel Corp., the world’s largest builder of oil rigs, said it won’t resume work for a key Brazilian client until the customer restarts making payments on its orders. Sete Brasil Participacoes SA, embroiled in a corruption probe known in Brazil as Lava Jato and debating whether it should file for bankruptcy, stopped paying Keppel last year on its ...

  Ritika Sharma / EMIRATES BUSINESS The breathtaking pace with which technology is changing the world is way too fast compared with the speed with which banks are embracing technology. As customers become more and more smartphone-dependent, banks should look for ways to collaborate with IT companies to understand and stay up-to-date with the latest changes in digital world. Retail ...

  Sunaina Rana / Emirates Business Over the years, digitalisation has become an integral part of banking sector. Fintech (finance and technology) start-ups are offering solutions that could spruce up the overall banking experience in a big way. Globally, entrepreneurs and even traditional banks are creating digital-only banks or neobanks that embrace most of the facets of new-age technology. However, ...

  RITIKA SHARMA / Emirates Business With the rapid adoption of cards, cashless payments and e-commerce, consumers are becoming more aware and concerned about fraud prevention. Banks across the world are moving quickly to upgrade payment technologies, spending huge sums to improve their IT infrastructure, with special focus on cyber security. Dhruv Magna, Dhruv Magna, Vice President Sales APAC, Envestnet/Yodlee, ...

  Beijing / Bloomberg China, the world’s biggest producer and consumer of gold, started a twice-daily price fixing on Tuesday in an attempt to establish a regional benchmark and bolster its influence in the global market. The Shanghai Gold Exchange set the price at 256.92 yuan a gram ($1,233.85 an ounce) at the 10:30 a.m. session after members of the ...

  Sydney / AFP Australian cattle firm S. Kidman and Co. on Tuesday said a Chinese-led consortium was the preferred buyer of most of its stations, with an offer worth US$288.8 million. Kidman, Australia’s biggest private landowner, has attracted keen interest from Chinese firms wanting to secure the sprawling pastoral empire. It said a consortium of Dakang Australia Holdings Pty. ...

    Tokyo / Bloomberg Japan’s Norinchukin Bank bought more than $2.9 billion of UK mortgage-backed bonds sold by Cerberus Capital Management, according to people familiar with the matter. The cooperative lender, which serves as the central financial institution for Japanese farmers and fisherman, acquired senior-ranking notes in a 6.1 billion pound deal that priced earlier this month, said the ...

  Melbourne / Bloomberg Telstra Corp. and a Ping An Insurance Group Co. unit said their agreement over the sale of a $1.6 billion stake in China’s Autohome Inc. is binding, indicating the transaction will go ahead despite the emergence of a higher management buyout proposal. Ping An Trust & Investment Co., which agreed to buy a 48 percent stake ...