July, 2018

• 14 July

  Dying to survive, China shows the way on drug prices

  

  US President Donald Trump exulted this week over Pfizer Inc’s decision to delay planned drug price increases a day after he attacked the company on Twitter. He should take a look at China, where President Xi Jinping has done much better. Over the past two weeks, the US pharmaceutical giant quietly cut the prices of more than a dozen of ...

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• 14 July

  Lifehacks for when a robot wants your job

  

  Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job. The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 ...

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• 14 July

  Deutsche Bank wins China nod for corporate bonds

  

  Bloomberg Deutsche Bank AG became the latest foreign bank to be allowed to underwrite China’s corporate bonds as the government opens up the onshore debt market. The German bank has received approval from the National Association of Financial Market Institutional Investors, or NAFMII, to underwrite corporate bonds sold by both onshore and offshore issuers in the interbank market, it said ...

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• 14 July

  Saudi Arabia’s sovereign wealth fund plans first multi-billion dollar loan

  

  Bloomberg Saudi Arabia’s sovereign wealth fund has started approaching banks for its first-ever loan, aiming to establish a group of banks with which it will work on future deals, reports said. The Public Investment Fund (PIF), has asked lenders to participate in a multi-billion dollar loan, the people said, asking not to be identified as the information is private. Lenders ...

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• 14 July

  BofA agrees to settlement with former executive

  Bloomberg Bank of America Corp. (BofA) agreed to pay an undisclosed multimillion-dollar sum to settle claims of defamation brought by former executive Omeed Malik, who was fired by the bank earlier this year, according to a person familiar with the matter. The settlement comes in response to a claim Malik brought in April, said the person, who asked not to ...

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• 14 July

  PNB aims for India’s biggest bank profit

  

  Bloomberg Punjab National Bank that saw its earnings wiped out by an unprecedented fraud aims to report the nation’s biggest bank profit by selling some assets, according to people familiar with the matter. Punjab National Bank (PNB) is targeting net income of more than ₹5,000 crore ($730 million) for the three months through September 30, boosted by asset sales and ...

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• 14 July

  Ghana banks pulling brakes on lending

  

  Bloomberg A reluctance by banks in Ghana to lend is threatening to stall one of Africa’s fastest expanding economies. With almost a quarter of all outstanding loans in the country at risk of not being repaid, credit granted to the private sector is increasing at nearly the slowest pace in four years. At stake is the 6.8 percent growth that ...

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• 14 July

  Pakistan adds red tape to access dollars as reserves drop

  

  Bloomberg Pakistan’s central bank has increased the amount of red tape needed to access dollars, according to people with knowledge of the matter, as the nation’s foreign-exchange reserves drop at the fastest pace in Asia. The State Bank of Pakistan has told banks after a currency devaluation last month that importers will need to inform the regulator of any requests ...

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• 14 July

  Bombardier flying high on Airbus deal, luxury aircraft

  

  Bloomberg Bombardier Inc. is flying high — and analysts from Goldman Sachs Group Inc. to AltaCorp Capital Inc. say the rally has plenty of room to continue. The Canadian planemaker is heading for its biggest annual stock gain in almost three decades, only two years after its shares dipped below C$1. The private-jet market is rebounding just in time for ...

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• 14 July

  China Southern in talks with British Airways on JV

  

  Bloomberg China Southern Airlines Co., one of the nation’s top three state carriers, is exploring a joint venture with British Airways for flights between the Asian country and the UK, according to the company’s global sales director. Asia’s biggest carrier by fleet size is discussing with IAG SA’s BA on how to extend cooperation beyond the existing basic code-share agreement ...

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