TimeLine Layout

March, 2016

  • 3 March

    KKR swoops in as distress in India’s property market worsens

    MUMBAI / Bloomberg A rusty six-story steel structure surrounded by tin-sheet huts stands on a prime plot overlooking one of Mumbai’s largest open spaces of greenery: The horse-racing track in the city’s plush Mahalaxmi area. What was to be a soaring luxury skyscraper from DB Realty Ltd. has been languishing for more than five years, with the developer’s website still ...

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  • 3 March

    Is art market heading for a boom or bust?

    Bloomberg If you’ve been paying attention to auction coverage recently, the outlook seems grim: The value of artworks on offer has plummeted, volume and totals are down significantly, and various news organizations (including this one) have sounded ominous warnings of an imminent market decline. But all of this is drawn from a tiny sliver of the art market. Bloomberg’s auction ...

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  • 3 March

    The other side of shippers that satellites don’t capture

    Bloomberg For an industry that is losing money on almost every transaction, the world’s commodity shippers are remarkably busy grabbing any cargo they can get their hands on. From space, where satellites track ship movements, it all appears like the market is booming, data compiled by Bloomberg show. At giant iron-ore loading terminals in Brazil and Australia, millions of tons ...

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  • 3 March

    Margin-starved Japanese banks chase automakers to Mexico

    Tokyo  / Bloomberg In a quest to reduce their reliance on one of the world’s least profitable banking markets, Japanese lenders are setting their sights on a much more lucrative one: Mexico. Mitsubishi UFJ Financial Group (MUFG) Inc. and Mizuho Financial Group Inc. are among so-called megabanks expanding in Mexico, riding the coattails of Japanese automakers that are building factories ...

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  • 3 March

    Deutsche veterans Nichol, Torres poised to depart

    FRANKFURT / Bloomberg Deutsche Bank AG is set to lose two of its most senior investment bankers in Asia as Bill Nichol and Joaquin Rodriguez Torres plan to depart this year, people familiar with the matter said. Nichol, who runs investment banking for financial institutions in the Asia-Pacific region, plans to leave in May after more than 13 years with ...

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  • 3 March

    Indonesia banks to benefit from govt plan to boost economy

    Jakarta / BLOOMBERG Indonesia’s top banks may get a lift from new government plans to spur the economy, which are seen boosting loan growth while allowing them to protect margins that are already among the world’s widest. The Financial Services Authority, known as OJK, will lower the ceiling for deposit rates this month for major lenders, a step it intends ...

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  • 3 March

    ECB brainstorms as Draghi seeks stimulus

    Bloomberg One week before a long-awaited stimulus decision, European Central Bank (ECB) officials are privately deliberating over how to enhance their monetary policy stance without maiming its transmission. Committees studying how to mitigate the impact on banks have prepared potential measures that range from variations on a tiered deposit rate to techniques for countering the impact of stimulus on excess ...

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  • 3 March

    BOJ’s Nakaso signals Japan may reduce rates again

    Tokyo / Bloomberg Bank of Japan (BOJ) Deputy Governor Hiroshi Nakaso indicated the central bank is prepared to take its benchmark rate deeper into negative territory, though not immediately. “We have designed a policy that technically allows us to cut the level further,” Nakaso told reporters in Okinawa on Thursday, referring to a minus 0.1 percent interest rate policy the ...

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  • 3 March

    Singapore Air turns to new jet to lure premium flyers

    SINGAPORE / Bloomberg Singapore Airlines Ltd., facing competition from Middle Eastern carriers and a rash of budget airlines, is trying to revive its fortunes the way it knows best: wooing flyers with new aircraft. The carrier received its first Airbus Group SE A350 in Singapore on Thursday. While the new aircraft with its extra-wide cabins and a new entertainment system will ...

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  • 3 March

    MGM close to $1.13 billion sale of Las Vegas mall to Simon

    LAS VEGAS / Bloomberg MGM Resorts International has reached an agreement to sell its Shops at Crystals mall in Las Vegas to a Simon Property Group Inc. partnership for $1.13 billion, according to a person with knowledge of the transaction. The deal may be completed soon, said the person, who asked not to be identified because the terms have not been ...

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