February, 2018

• 13 February

  Asia stocks gain in global rebound

  

  Bloomberg Asian stocks rose amid signs markets are beginning to stabilize after the biggest weekly rout in two years. Japanese equities pared gains as the yen advanced. Shares in Hong Kong and China led the rally in Asia after the S&P 500 Index posted its biggest two-day advance in 18 months. Japan’s equities retreated from the day’s highs after traders ...

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• 13 February

  Sweden’s H&M drops dividend reinvestment plan

  Bloomberg Hennes & Mauritz AB has abandoned a plan to try to get shareholders to reinvest their dividends in new stock. The Swedish fashion retailer said that the project proved too difficult, after the company encountered technical issues and ran up against time constraints. An “investigation” into the plan showed it wasn’t really feasible, H&M said. Shares initially jumped on ...

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• 13 February

  Dubai strong on Emaar Malls, Aramex earnings

  

  DUBAI / Reuters Dubai’s stock market rose in early trade on Tuesday after Emaar Malls and Aramex reported strong earnings, but most of the Gulf was quiet, gaining little momentum from the rise of Wall Street and other global markets. The Dubai index added 1.0 percent as Emaar Malls , the emirate’s flagship mall operator, rose 3.1 percent after reporting ...

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• 13 February

  Rebound in global equity may lift Gulf markets

  DUBAI / Reuters A rebound in global equity markets may lift stock markets in the Gulf on Tuesday. Wall Street’s three main indexes surged well over 1 percent on Monday, and MSCI’s broadest index of Asia-Pacific shares outside Japan is up 1.2 percent on Tuesday morning. Brent oil has not recovered much, however, standing at $62.95 per barrel. In Egypt, ...

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• 13 February

  Hong Kong banks seen locking mortgage rates to lure customers

  

  Bloomberg Hong Kong’s biggest banks are increasingly locking mortgage rates to lure customers from upstart rivals in the world’s least affordable housing market, where borrowing costs are soon expected to rise. HSBC Holdings Plc and BOC Hong Kong (Holdings) Ltd. are offering fixed rates of 1.68 percent for the first year of a new mortgage, lower than the 2.15 percent ...

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• 13 February

  Deutsche Bank sanctioned for misleading buyers on bond sales

  

  Bloomberg Deutsche Bank AG agreed to pay about $4.5 million to settle a US regulator’s allegations that it misled clients about how much bonds backed by commercial mortgages were worth, earning the lender bigger profits than it should have made. Salespeople in its Deutsche Bank Securities unit induced customers to pay higher prices for bonds by misrepresenting how much the ...

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• 13 February

  BOE officials say rate rising soon

  

  Bloomberg Bank of England policy makers are uniting behind the key message of the Inflation Report, telling investors that interest-rate increases will come quicker than officials previously expected. Ian McCafferty, seen as one of the most hawkish members of the rate-setting panel, reiterated that on LBC Radio, saying it’s likely borrowing costs will rise earlier, and to a greater extent, ...

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• 13 February

  Credit Suisse ‘posts’ trading losses, lower capital buffer

  Bloomberg In his first two years running Credit Suisse Group AG, Tidjane Thiam has been putting out fires. Today there’s still smoke. The Swiss lender is expected to report a third straight annual loss, mainly due to a 2.3 billion-franc ($2.45 billion) writedown related to a change in US tax policy at the end of last year. Even without that ...

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• 13 February

  Demographics pose biggest challenge for Asia’s central banks

  

  Bloomberg Bank of Japan Governor Haruhiko Kuroda says it’s the most significant challenge facing his economy. Bank of Korea Governor Lee Ju-yeol says it’ll be tougher to manage than record levels of household debt or future Federal Reserve interest-rate increases. The issue perplexing Asia’s central bankers: demographics. And making matters worse is the realisation there’s very little they can do ...

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• 13 February

  Tycoons team up for $6.7 billion upgrade of aging Manila airport

  

  Bloomberg Seven Philippine conglomerates, including those led by billionaires John Gokongwei and Lucio Tan, submitted a proposal to modernise and expand the capital’s 70-year-old airport in a plan that will potentially triple capacity and help ease congestion. Ventures of Aboitiz Equity Ventures Inc., Ayala Corp., LT Group Inc. along with Alliance Global Group Inc., Filinvest Development Corp., JG Summit Holdings ...

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