May, 2018

• 21 May

  Ghana favours forecourt operator as Exxon partner

  Bloomberg Ghana sees the country’s state-owned gas-station operator as the leading bidder to partner Exxon Mobil Corp. to explore for crude at an offshore field, according to two people familiar with the matter. Exxon was awarded exploration and production rights for the Deepwater Cape Three Points block in January and must choose a local partner for a 5 percent stake …

  Read More »
• 21 May

  Stocks jump with dollar as US-China trade tensions cool

  

  Bloomberg US stocks surged and the dollar strengthened against most major peers and as the Trump Administration sought to deescalate a trade rift with China. Treasury yields climbed as havens such as the yen and gold tumbled. All major equity gauges were higher led by strength in technology companies. The greenback rose after Treasury Secretary Steven Mnuchin said that the …

  Read More »
• 21 May

  Foreigners pull most cash from Malaysian stocks since 2013

  

  Bloomberg The gains in Malaysian equities since Mahathir Mohamed’s shock election win haven’t stopped an exodus of foreign money from gathering pace — with this year’s almost $1 billion of overseas inflows into the market at risk of being wiped out. The nation’s stock market had a volatile start following a three-day holiday for the election, before the benchmark inched …

  Read More »
• 21 May

  Shrinking valuations cast shadow over smaller Chinese bank IPOs

  

  Bloomberg As China’s crackdown on shadow banking shrinks smaller banks’ valuations relative to larger peers, the outlook is dimming for the country’s regional lenders queuing up to list their shares. Small bank shares have been slipping relative to China’s lending giants like Industrial & Commercial Bank of China Ltd. and Agricultural Bank of China Ltd. due to their deeper involvement …

  Read More »
• 21 May

  Vietnam’s OCB expects market value to reach $1 billion after listing

  

  Bloomberg Vietnam Orient Commercial Joint Stock Bank expects its market capitalisation to rise to $1 billion after its planned listing on the country’s benchmark bourse during the second half of the year, according to Chairman Trinh Van Tuan. The 22-year-old bank, also known as OCB, plans to list 750 million shares on the Ho Chi Minh City Stock Exchange late …

  Read More »
• 21 May

  ECB presidency race gets real as northern Europeans drop hints

  

  Bloomberg Northern Europe’s claim for a turn at leading euro-area monetary policy in the era after Mario Draghi advanced over the weekend as two of its contenders dropped hints that they’re waiting to be asked. The signals from Bundesbank chief Jens Weidmann and outgoing Finnish Governor Erkki Liikanen are the most explicit so far in the race to succeed the …

  Read More »
• 21 May

  Carney urged to go ‘mystical’ on BOE outlook

  

  Bloomberg Mark Carney may be wondering at times if less is more when he speaks to financial markets. After a bruising month that’s seen his own signals on interest rates questioned and one of his deputies forced to apologize for calling the economy menopausal, communication is once again a hot topic for the Bank of England governor. Carney, who arrived …

  Read More »
• 21 May

  Credit Suisse seeks larger share of debt swaps market

  

  Bloomberg Credit Suisse Group AG is seeking to grow its market share for a type of derivative that’s gaining favour among investors as a way to wager on corporate debt. The Swiss bank is ramping up its market-making operations for so-called total-return swaps tied to US bond and loan indexes, according to people familiar with the matter. The lender hired …

  Read More »
• 21 May

  Ryanair warns of ‘shakeout’ as fuel costs claim weakest

  

  Bloomberg Ryanair Holdings Plc warned that profit will slump for the first time in five years as rising labor costs compound a fuel-price surge that may force weaker competitors out of business. Net income could fall as much as 14 percent in the year through next March, Ryanair said. An increase in kerosene costs will pressure earnings in the short …

  Read More »
• 21 May

  Bangkok Air talking to Airbus, Bombardier, Boeing for 20 planes

  

  Bloomberg Bangkok Airways Pcl will soon submit specifications for an order of 20 narrow-body planes to Airbus SE, Boeing Co. and Bombardier Inc., its President Puttipong Prasattong-Osoth said. The carrier, which currently has 12 Airbus 319s and nine Airbus 320s, will pick one manufacturer for the order by the end of the year, Puttipong said in an interview. “The good …

  Read More »