February, 2016

• 25 February

  ADIPEC 2016 to focus on energy efficiency

  

  ABU DHABi / WAM Under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, Abu Dhabi will play host to the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) from November 7 to 10 at the Abu Dhabi National Exhibition Centre. Driving efficiency in the energy sector will form the cornerstone of ADIPEC 2016, ...

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• 25 February

  Australia unveils ‘massive’ increase in defence spending

  

  Sydney / AFP Australia unveiled a massive new investment in the nation’s defence capabilities on Thursday to address what Prime Minister Malcolm Turnbull called “high stakes” and “momentous times” in Asia. Citing increased defence spending around the region and potential flashpoints in the South China Sea and the Korean peninsula, he said the government was committed to combating the most ...

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• 25 February

  Australia warns of possible terror attack in Indonesia

  SYDNEY / AP Australia’s government warned on Thursday that terrorists may be in the advanced stages of preparing attacks in Indonesia, and urged travelers to exercise a high level of caution when visiting the southeast Asian nation, including the popular tourist island of Bali. The Department of Foreign Affairs and Trade issued the travel advisory, which said only that there ...

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• 25 February

  USA using smears to seek funds: China

  

  BEIJING / AP China’s Defense Ministry says the commander of US forces in the Pacific smeared China while seeking additional defense funding from Congress. Ministry spokesman Col. Wu Qian on Thursday strongly criticized Adm. Harry Harris Jr.’s testimony before Congress this week, in which Harris said China was militarizing the South China Sea. Wu said he understood Harris was seeking ...

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• 25 February

  NATO tackles Greek-Turkey rifts on ‘Aegean mission’

  

  Brussels / AFP NATO on Thursday overcame sharp differences between long-time rivals Greece and Turkey to finalise an unprecedented mission to tackle migrant smugglers in the Aegean Sea. US-led NATO launched the operation two weeks ago, aiming to help the EU cope with its worst migrant crisis since World War II, but longstanding disputes between Athens and Ankara over Aegean ...

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• 25 February

  Rubio supporters grow restive as USA primary debate looms

  

  Bloomberg With no wins to show after the first four contests in the Republican presidential primary, Marco Rubio’s supporters are growing nervous that their candidate’s chances of becoming the party’s nominee may already be slipping way. “He’s got to do something, he’s got to stir up the mix a bit,” said Steve Hosheinz, a 55-year-old accountant from Houston who was ...

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• 25 February

  Lloyds soars on dividend bump as bank signals end for PPI

  

  Bloomberg Lloyds Banking Group Plc surged after the lender increased its dividend payout and indicated it may have reached the end of charges for wrongly sold payment protection insurance that cost it 4 billion pounds ($5.6 billion) last year. The firm’s shares climbed as much as 11 percent, the biggest intraday gain since October 2011. Pretax profit for 2015, excluding ...

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• 25 February

  China to allow banks to issue US$7.7bn of bad loan securitization

  

  Bloomberg China will allow domestic banks to issue up to 50 billion yuan ($7.7 billion) of asset-backed securities based on their non-performing loans, the first quota for such sales since 2008, people familiar with the matter said. The quota, which will initially be allocated mainly to China’s largest banks, will allow lenders to remove non-performing loans from their balance sheets ...

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• 25 February

  Portuguese bank posts $1BN loss, making sale harder

  

  LISBON A Portuguese bank salvaged from the collapse of a major lender has reported losses of 981 million euros ($1 billion) in 2015, casting a cloud over the government’s attempts to sell it. Novo Banco, a so-called good bank that emerged from the surprise 2014 bankruptcy of Banco Espirito Santo, said Wednesday legacy debts soured its performance. The bank last ...

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• 25 February

  German economy ‘in good shape’: Bundesbank chief

  

  Frankfurt The German economy is “in good shape overall,” the head of the country’s central bank or Bundesbank said on Wednesday, waving away suggestions that clouds could be building over Europe’s biggest economy. Speaking at the Bundesbank’s annual news conference, president Jens Weidmann pointed to record high employment last year and falling unemployment. “While wage growth was marked, inflation remained ...

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