September, 2019

• 14 September

  Nigeria LNG in talks with lenders for $10bn loan

  

  Bloomberg Nigeria LNG Ltd., the operator of Africa’s largest natural gas plant, is in talks with lenders to finance a $10 billion expansion. The company is discussing with the country’s top-10 lenders including Guaranty Trust Bank Plc and Zenith Bank Plc, to raise as much as $2 billion, and with foreign lenders and export-credit agencies for the balance, Chief Executive …

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• 14 September

  India mulls selling stake in refiner to overseas oil firm

  Bloomberg India is considering a plan to sell the nation’s second-largest state refiner and fuel retailer to a global oil company as it explores options to give up its controlling stake in Bharat Petroleum Corp., people with knowledge of the matter said. The government is keen to lure multinational companies in the domestic fuel retailing to boost competition and shake …

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• 14 September

  Venezuela having trouble findings ships to move oil

  

  Bloomberg Exports of sanction-hit Venezuelan oil now face a new concern: a shortage of vessels willing to transport crude produced by the regime of President Nicolas Maduro. Shipowners are avoiding transporting Venezuelan oil for fear of being sanctioned and losing insurance coverage on their vessels, according to people with knowledge of the situation. The lack of vessels may take a …

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• 14 September

  Goldman using JPMorgan’s tactics against it in ETF row

  

  Bloomberg Goldman Sachs Group Inc is throwing everything but the kitchen sink at boosting its share of the $4 trillion US market for exchange-traded funds — even mimicking one of its Wall Street foes. The bank is adopting an approach pioneered by JPMorgan Chase & Co, filing for a line of broad-based index products that could start trading at rock-bottom …

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• 14 September

  Vietnam central bank cuts policy rates amid ‘risks’

  

  Bloomberg Vietnam’s central bank cut interest rates for the first time in more than two years to bolster the economy amid rising global risks. The benchmark refinance rate will be lowered to 6 percent from 6.25 percent from September 16, the State Bank of Vietnam (SBV) said on its website. The discount rate and overnight lending rate in the inter-bank market …

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• 14 September

  Deutsche Bank gets boost from tiering

  

  Bloomberg Deutsche Bank AG will benefit the most by far from the European Central Bank’s new tiered deposit rate, JPMorgan Chase & Co analysts led by Kian Abouhossein said. Germany’s largest lender stands to save roughly 200 million euros ($222 million) in annual interest payments thanks to a new rule that exempts a big chunk of the money it holds …

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• 14 September

  Talk of rate cut boosts Swiss shares: Economist

  

  Bloomberg A further cut to negative Swiss interest rates could have the undesired effect of strengthening the franc as foreign investors pile into the country’s outperforming stock market to reap superior returns over bonds, former Swiss National Bank Chief Economist Kurt Schiltknecht wrote in daily Neue Zuercher Zeitung. “These investment opportunities don’t go unnoticed by foreign investors and often result …

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• 14 September

  Singapore lender still using faxes seeks virtual bank license

  

  Bloomberg Singapore’s Hong Leong Finance Ltd sees the country’s plan to issue virtual banking licenses as an opportunity to find new customers and re-invent itself as a tech-savvy lender to the nation’s new businesses. The firm, founded in 1961, has been in talks with financial-technology companies about a joint application for one of the licenses, according to President Ang Tang …

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• 14 September

  Porsche, Tesla face off in Germany’s ‘Green Hell’

  

  Bloomberg First there was derision. Then mockery turned into admiration. Now a battle is unfolding between two of the most revered names in the automobile world, Porsche and Tesla Inc on one of the world’s most challenging race tracks. The two automakers are vying for electric vehicle bragging rights on Germany’s Nürburgring, a circuit with 73 tight turns (Silverstone in …

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• 14 September

  TeamViewer seeks $2.5b in top German tech IPO since 2000

  

  Bloomberg The owners of software maker TeamViewer are seeking to raise as much as $2.54 billion in Germany’s biggest technology initial public offering in almost two decades. Private-equity firm Permira plans to sell as many as 84 million shares for 23.50 euros to 27.50 euros apiece via holding firm TigerLuxOne, the company said in a statement. TeamViewer stock is expected …

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