February, 2016

• 29 February

  China’s growing ties with Serbia

  

  On February 5, 2016, Chinese President Xi Jinping made an official statement acknowledging Serbian statehood day. In the press release that followed, Xi highlighted deepened cooperation between China and Serbia in recent years, and reaffirmed China’s intentions to expand economic links with Serbia in the years to come. This statement came on the heels of announcement by Chinese ambassador to ...

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• 29 February

  EU must recognize Kosovo, or pay a heavy price

  

  Eight years after Kosovo declared its independence from Serbia, five European Union states still refuse to recognize it. They need to relent. They are contributing to an economic and security sinkhole in the heart of the Balkans — and if history is any guide, that’s a bad idea. During a chat with Kosovo’s Prime Minister Isa Mustafa as he passed ...

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• 29 February

  Stocks drop with US futures as G-20 underwhelms; Yen rises

  

  Bloomberg Asian and European stocks fell with U.S. equity futures after Group of 20 finance chiefs made only vague commitments to spur growth at a Shanghai meeting. Japan’s yen rose with gold as haven assets were favoured. The MSCI Asia Pacific Index slipped to a one-week low and the Stoxx Europe 600 Index declined for the first time in three ...

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• 29 February

  Emirates Securities Market up by 1.56percent

  

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 1.56% to close at 4356.37 points. Accordingly the Market Capitalization has gained AED 10.82 billion AED attaining AED 706.66 billion. A total of 1.63 billion Shares were traded with a total value of AED 2.05 billion during the trading session of 2016-02-29 through 17932 transactions. The number of companies ...

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• 29 February

  ‘Vampire’ Chinese firms inflict losses on banks

  

  BEIJING / Bloomberg The Chinese economy is pock-marked with companies that can’t pay their bills and survive only with government help. Jiangshi, the Chinese call them — ‘vampire companies’ or ‘zombies’. These ghoulish companies and their debts are hindering the world’s second-biggest economy and will likely do so for years. Companies that miss debt payments inflict losses on banks, which then ...

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• 29 February

  Barclays faces investment bank litmus test in Africa

  

  Bloomberg Barclays Plc Chief Executive Officer Jes Staley, poised to announce the fate of the lender’s African business, must convince investors he can improve the investment bank’s profits just as slumping trading revenue batters the industry. Staley is leaning toward maintaining the securities unit without pursuing a major restructuring or spinning off the business, according to people familiar with the ...

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• 29 February

  Zheshang Bank to delay testing $1bn IPO interest

  

  Bloomberg China Zheshang Bank Co. postponed gauging demand for a $1 billion Hong Kong initial public offering, after stock buyers reported difficulty transferring money out of mainland China, people familiar with the matter said. Potential cornerstone investors from China told deal arrangers they couldn’t get timely regulatory approval to send money across the border, according to the people, who asked ...

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• 29 February

  ECB window for stimulus message closing as prices skid

  

  BLOOMBERG For the next three days,European Central Bank (ECB) officials will walk a communications tightrope. With the latest inflation figures showing the return of price declines, the window of opportunity is closing for the ECB to signal any stimulus intentions for its March 10 decision before a self-imposed quiet period starts on Thursday. Executive Board member Benoit Coeure, the architect ...

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• 29 February

  Currency whipsaws squeezing traders, says veteran

  

  SYDNEY / Bloomberg The $5.3-trillion currency market is getting harder for traders to make money in as price changes that once took months or weeks now happen more quickly, says Hugh Killen, Westpac Banking Corp.’s head of trading for foreign exchange, fixed income and commodities. Liquidity is drying up because investors and banks are shying away from taking risk, and ...

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• 29 February

  Billionaire Wang to build $3.3 bn French theme park

  

  PARIS / Bloomberg A partnership led by by Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. plans to invest more than €3 billion in a retail and leisure development project outside of Paris, taking on Walt Disney Co. in the euro area’s second-largest economy. EuropaCity will be built 10 kilometers northeast of Paris. It will be the biggest single investment ...

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