June, 2019

• 12 June

  Central banks boost holdings of equities beyond $1 trillion

  

  Bloomberg The central banks have increased their holdings of equities beyond $1 trillion last year as they sought to diversify their reserves away from low-yielding bonds, according to a survey to be published. Monetary authorities boosted their allocation of equities to 10 percent of their reserves despite recent market volatility and a quarter of them said they plan to purchase ...

  Read More »
• 12 June

  ‘Joining euro improved quality of institutions’

  Bloomberg Mario Draghi said joining the euro has improved the quality of institutions in eastern European members, as opposed to “more mixed” results in countries that have kept their own currencies. The ECB President, hosting a conference on central and eastern Europe in Frankfurt, said the main challenge in region is achieving more balanced gro-wth. That “will only be possible ...

  Read More »
• 12 June

  Swiss National Bank to join Dovish global shift as franc tightens grip

  

  Bloomberg The Swiss National Bank is again at the mercy of its bigger neighbours and will have to lean in a more dovish direction to keep its currency under control. With the franc having touched a two-year high against the euro, SNB President Thomas Jordan and fellow policy makers are feeling the pressure from risks such as trade tensions, a ...

  Read More »
• 12 June

  Nigeria quashes naira policy change talks

  

  Bloomberg Nigeria’s central bank said it’s made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates. “Nothing has changed in Nigeria’s exchange-rate structure,” and the naira’s value continues to be determined by trading in the Investors’ & Exporters’ FX Window, Isaac Okorafor, ...

  Read More »
• 12 June

  Britain contemplates another foreign central bank boss

  

  Bloomberg Raghuram Rajan has delivered some uncomfortable economic truths in a career spanning the International Monetary Fund and powerful positions in his native India. The question is whether Brexit Britain is ready to hear them from another foreign Bank of England governor. The job of stewarding the UK’s monetary policy and maintaining its financial stability has rarely been more political, ...

  Read More »
• 11 June

  Petrofac secures $75 million deal for Petroleum Development Oman project

  

  LONDON / WAM UAE-linked oil services firm Petrofac has secured its third project under a 10-year framework agreement with Petroleum Development Oman (PDO) with the award of a procurement services project for the Mabrouk North East Line Pipe Procurement Project in Oman. The contract, valued at approximately $75 million, is the latest to be awarded under the agreement signed in ...

  Read More »
• 11 June

  Trafigura profit doubles in H1 as oil-trading rebound offsets metals

  

  Bloomberg Trafigura Group Ltd. racked up a 92 percent gain in profit in the first half of its financial year, taking advantage of price swings in the petroleum market and a dominant position exporting crude from the US. Joining peers in a strong performance, the third-biggest independent oil trader’s net income jumped to $426 million in the six months to ...

  Read More »
• 11 June

  Connecticut set to join $70b offshore wind expansion

  

  Bloomberg Connecticut is set to massively increase investment in offshore wind after the state Senate passed a bill to require utilities to buy as much as 2 gigawatts of the renewable energy source, equivalent to almost a third of the state’s electricity needs. Regulators will have 14 days to produce a plan to solicit bids from developers. Previously, the state ...

  Read More »
• 11 June

  US stocks struggle to hold gains amid focus on trade

  

  Bloomberg US stocks struggled to hold onto a sixth straight gain as investors weighed the outlook for trade talks and interest rate policy. Treasuries were steady and the dollar edged higher. The S&P 500 Index erased most of its advance near midday as gains in tech hardware makers were offset by losses for industrial companies. Mining and automobile shares pulled ...

  Read More »
• 11 June

  Third day of gains for equities as investors eke out value in India

  

  Bloomberg Indian equities capped a third day of gains as investors picked out value in a market that’s one of the region’s best-performers this year. The benchmark S&P BSE Sensex climbed 0.4 percent to 39,950.46 at the close in Mumbai, paring a larger gain, and the NSE Nifty 50 Index advanced by the same magnitude. India’s key equity indexes have ...

  Read More »