Bloomberg Techcombank, the Vietnamese lender backed by Warburg Pincus, and some existing investors are poised to raise about 21 trillion dong ($922 million) in a domestic ini- tial public offering, people with knowledge of the matter said. The bank is planning to price the sale of 164.1 million shares at 128,000 dong each, the top end of a marketed range, …
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Latvia secures US help to clean up its scandal-tainted banks
Bloomberg Latvia’s financial investigators will receive more US help as the Baltic nation races to emerge from a money-laundering scandal that toppled its third-largest lender. Finance Minister Dana Reizniece-Ozola has agreed technical assistance from the US Treasury Department for the country’s financial intelligence unit following her meetings with US officials in Washington. She doesn’t expect other Latvian institutions to follow …
Read More »US bond traders’ respite from flattening curve may prove brief
Bloomberg Bond traders agonizing over the flattening US yield curve got a bit of a break last week. But with a flood of Treasury supply about to hit the market, they’ll have little time to catch their breath. The US will issue a combined $96 billion of two-, five- and seven-year notes this week, the largest slate of fixed-rate coupon …
Read More »Carney’s hint of May rate hike puzzles pound pundits
Bloomberg Money-market traders in the UK may have capitulated, but not the analysts. While currency pundits were jolted by Governor Mark Carney’s surprise hint that a rate increase by the Bank of England next month isn’t a foregone conclusion, they aren’t exactly doing an about-turn on their forecasts. ING Groep NV, Nomura International Plc, Credit Agricole SA, CBA Europe Ltd., …
Read More »Banks sweeten terms for solar business as confidence rises
Bloomberg Interest rates are rising, making debt much more expensive for capital-intensive industries across America. But there’s at least one exception: the solar business. While the cost of borrowing has been increasing since 2016, some banks are taking a smaller cut to win deals from solar developers. Loans of seven years or longer can be obtained for 137.5 basis points …
Read More »Australia edges towards new energy policy
Bloomberg Australia may agree the final rules of its contentious National Energy Guarantee by August after winning cautious backing from states and territories for a policy the ruling Coalition hopes will end a decade of policy paralysis. Energy ministers from Australia’s six states and two territories signed off on a preliminary deal to back the scheme at a Council of …
Read More »Indian industry buys Siemens turbines for own wind parks
Bloomberg Siemens Gamesa Renewable Energy SA won 140 megawatts of wind power orders in India from industrial companies building their own parks. Energy-intensive businesses from textile and drug makers to auto companies ordered a total of 70 turbines, the Spanish-German company said. The manufacturers across southern India will link the parks to local grids and tap power as needed. Regional …
Read More »Explorers crank rig count higher as US oil supplies dwindle
Bloomberg Oil explorers deployed more US rigs this week as increasingly tight crude supplies pushed prices to their highest since 2014. US working oil rigs rose by five this week to 820, the highest since March 2015, according to data from Baker Hughes. Since the end of January, the rig fleet has expanded in all but two weeks. An Energy …
Read More »A first for Panama canal: Three LNG tankers crossed in a day
Bloomberg Three liquefied natural gas tankers sailed through the Panama Canal on the same day this week, marking a first for the newly expanded waterway and highlighting the booming global gas trade. All three ships — Gaslog Hong Kong, Gaslog Gibraltar and Clean Ocean — entered the canal on a staggered basis from the Pacific side and had completed their …
Read More »World’s central banks fret trade war more deflationary than inflationary
Bloomberg Global central bankers sounded the alert that a trade war would leave them worrying more about the economic fallout than any boost tariffs would give to inflation. As President Donald Trump threatens to impose levies on imported steel and aluminum and duties on as much as $150 billion of Chinese goods, uncertainty over global commerce is casting a pall …
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