News

Bloomberg The Swiss National Bank unveiled its new 50-franc ($52) note on Wednesday, the first in a series that features nature rather than portraits of famous men and women. The 50-franc bill, which will begin to be issued on April 12, was designed with the theme of wind and depicts a dandelion, mountains and a para-glider. Other notes in the ...

Bloomberg Doubts are mounting about the future of the U.K.’s membership in the European Union, but you wouldn’t know it from the country’s stocks. Rather than being punished for a lack of certainty, they’ve become the most expensive ever relative to others in the region. The valuation of companies in the FTSE 350 Index climbed to 15.5 times estimated earnings ...

Bloomberg US brokers managing retirement accounts must adhere to tough new standards under an Obama administration rule released on Wednesday that aims to protect millions of savers from conflicted investment advice. The Labour Department regulation, which gave the industry some concessions from an earlier proposal, puts a capstone on President Barack Obama’s efforts to rein in Wall Street and level ...

Bloomberg Ontario is selling a stake in Hydro One Ltd. for C$1.71 billion ($1.3 billion) five months after completing Canada’s largest initial public offering since 2000. In the so-called bought deal, where banks commit to buying the entire offering for resale to investors, the province is selling 72.4 million shares of Hydro One at C$23.65 apiece, the Toronto-based utility said ...

Bloomberg Argentina called on bondholders to give the country more time to repay about $12 billion in debt still owing from its 2001 default as a court hearing prevents the government from making the payment within the deadline. The New York Appeals Court will begin to hear the case on April 13, one day before Argentina has to make the ...

Bloomberg For Kia Motors Corp. Mexico’s historic car boom isn’t working out as planned. A dispute with a recently elected state leader may prevent the start of production next month at a northern Mexico car factory representing more than $1 billion in investment, Kia said on Tuesday. The plant is in the cross hairs of Nuevo Leon Governor Jaime Rodriguez, ...

Bloomberg A year after Brazilian oil giant Petroleo Brasileiro SA took a writedown of $2.1 billion because of the sweeping corruption scandal known as Carwash, another state-run company is getting closer to reporting its own price tag from graft losses. The team of lawyers and specialists hired by Centrais Eletricas Brasileiras SA has finished the bulk of its investigation to ...

DUBAI / WAM Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum on Tuesday visited Dubai Municipality, where he praised the progress of various ongoing projects which are part of His Highness vision for a green and sustainable city by 2021. Sheikh Mohammed was accompanied by HH ...

DUBAI / WAM As per the directives of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the 5th World Government Summit will be held from February 12 to 14, 2017. The Summit will expand its agenda and session topics to include economy and finance as well as health, education and government ...

SHARJAH/ WAM Investors from Great Britain will have the opportunity to find out about the advantages of doing business in Sharjah thanks to a special business–to-business (B2B) forum being held in London. Organised by the Sharjah Investment and Development Authority (Shurooq) under the banner ‘Sharjah Day,’ the April 8 event will introduce British investors and businesspersons to prominent opportunities in ...