November, 2019

• 6 November

  Thailand cuts rate to rein in surging baht

  

  Bloomberg The Bank of Thailand cut its benchmark interest rate for the second time in three months and said it will ease rules on outflows to curb a surging currency. Five of the seven Monetary Policy Committee members voted to cut the key rate by a quarter-percentage point to 1.25%, the central bank said in a statement. That matches a …

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• 6 November

  Silicon Valley Bank lends to Danish tech firms

  

  Bloomberg A California bank with deep ties to the US venture capital industry is targeting Denmark for growth, as a lack of regulatory constraints on lending make the country a preferred destination in Scandinavia. Silicon Valley Bank, a unit of SVB Financial Group, says it’s budgeted a minimum of about $200 million to lend to Danish technology companies. Erin Platts, …

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• 6 November

  Postal Savings Bank to raise $4.1 billion in China IPO

  

  Bloomberg Postal Savings Bank of China Co is poised for the country’s biggest initial public offering since 2015. The Beijing-based lender, which is already listed in Hong Kong, plans to raise 28.4 billion yuan ($4.1 billion) in what would be the world’s third-largest listing this year behind Uber Technologies Inc’s $8.1 billion share sale in May. One of China’s largest …

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• 6 November

  Romania extends rate pause after inflation

  Bloomberg Romania extended a record pause in borrowing costs to almost a year and a half after an unexpectedly sharp slowdown in inflation and as central banks around the world loosen monetary policy. The benchmark rate was left at 2.5% for a 12th straight meeting, as predicted by all economists surveyed by Bloomberg. It’s the first decision by the new …

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• 6 November

  Deutsche Bank: Negative rates worsen EU lenders’ retreat

  

  Bloomberg Europe’s finance industry has seen its global sway erode dramatically and the main weapon being used to boost the continent’s economies is making things worse, a top Deutsche Bank AG executive warned. The region’s banks and insurers “have lost dramatic amounts of ground,” with only one still ranking in the top 20 globally by market value, compared with six …

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• 6 November

  Mozambique’s ENH to attract investors for $1.5b gas funding

  

  Bloomberg Mozambique will court investors for $1.5 billion of financing for a giant natural-gas project run by Total SA. State oil company Empresa Nacional de Hidrocarbonetos will kick off a funding roadshow in Johannesburg next week before moving on to London, said Chief Executive Officer Omar Mitha. The project — potentially transformative for Mozambique’s ailing economy — includes the development …

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• 6 November

  Aramco raises light oil pricing to Asia

  

  Bloomberg Saudi Aramco raised December pricing for sales of its light oil grades to Asia to their highest levels since 2014, just a day after announcing it will sell shares for the first time. The state-owned oil producer increased monthly pricing for shipments of all crudes to the US. Aramco increased its official selling price for flagship Arab Light crude …

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• 6 November

  Stocks drift amid mixed earnings; Treasuries gain

  

  Bloomberg Stocks in Europe struggled for traction alongside US index futures as a raft of corporate earnings and economic data presented a somewhat muddy outlook for global growth. Treasuries rose after dropping for three days. The Stoxx Europe 600 Index erased a modest gain after data showed the euro-area economy remained close to stagnation last month amid a broad downturn …

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• 6 November

  HK exchange profit drops most in 3 years

  

  Bloomberg Hong Kong’s stock exchange suffered its worst slide in profit in almost three years as the Asian financial hub is buffeted by social unrest and political tension between the US and China. Facing turmoil on multiple fronts, trading slid in the period and the number of stock listings this year is running at about half the pace of 2018. …

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• 6 November

  India will be fastest-growing market over 20 years: Boeing

  

  Bloomberg India will be the world’s fastest-growing aviation market over the next two decades, according to Boeing, which expects the South Asian nation to need 2,380 planes in that period at a value of $330 billion. The US manufacturer’s forecast is slightly higher than the one it made in December 2018, when it said India would require 2,300 new aircraft …

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