October, 2017

• 3 October

  Egypt stock market falls , Gulf ignores oil slump

  Reuters Egypt’s stock market fell on Tuesday, ending a six-day winning streak that took the blue-chip index to an all-time high, while Gulf bourses traded narrowly but a couple of petrochemical shares boosted Saudi Arabia. The Egyptian index dropped 0.5 percent to 13,931 points. A purchasing managers’ survey published on Tuesday showed non-oil private sector activity fell at its sharpest ...

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• 3 October

  India’s central bank holds rates as slowdown bites

  

  Bloomberg The Reserve Bank of India (RBI) is expected to keep its benchmark rate at a seven-year low this week amid slowing growth in Asia’s third-largest economy. With inflation climbing fast toward the Reserve Bank of India’s medium term target, the Federal Reserve starting to shrink its balance sheet and growing speculation the government may loosen purse strings to bolster ...

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• 3 October

  Indonesia should avoid more rate cuts, says biggest bank

  

  Bloomberg Indonesia’s central bank should avoid cutting interest rates further because borrowing costs are at an appropriate level even as loan growth remains subdued, according to the chief of the country’s biggest lender. The current benchmark rate of 4.25 percent is “quite optimal,” PT Bank Mandiri President Director Kartika Wirjoatmodjo said in an interview on Sept. 28. “Overall liquidity is ...

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• 3 October

  RBA keeps interest rates unchanged as Lowe remains reluctant to follow peers

  

  Bloomberg Australia’s central bank kept interest rates unchanged — as expected — reinforcing Governor Philip Lowe’s reluctance to follow developed-world counterparts and tighten policy. “Over recent months there have been more consistent signs that non-mining business investment is picking up,” Lowe said in Tuesday’s statement. “A consolidation of this trend would be a welcome development. Business conditions as reported in ...

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• 3 October

  BOE sees ‘substantial’ Brexit threat to derivatives clearing

  

  Bloomberg The UK’s withdrawal from the European Union poses a “substantial risk of disruption” to cross-border clearing of financial contracts, according to the Bank of England (BOE). The European Commission, the EU’s executive arm, has proposed supervision rules that could force foreign clearinghouses to locate the clearing of derivatives denominated in EU currencies inside the bloc. In response, some clearinghouses ...

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• 3 October

  Yen reaches 14-year high as China data emerge

  Bloomberg Japan’s currency is taking a larger share of global foreign exchange reserves, in a pattern that’s coinciding with the International Monetary Fund (IMF) gradually incorporating China’s holdings into its published data. The yen is now at its highest proportion since the end of 2002. In the second quarter, it accounted for $429 billion out of the $9.26 trillion worth ...

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• 3 October

  Southeast Asia banks should amend environment policy, says WWF

  Bloomberg Banks and regulators in Southeast Asia should strengthen financial-sector rules and guidelines to promote funding for environment-friendly projects in a region threatened by deforestation and climate change, the World Wildlife Fund (WWF) said. Measures to promote sustainable finance in the region are “high level,” and don’t involve the incentives or penalties which would get banks to properly integrate environmental ...

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• 3 October

  UBS may employ 30 percent fewer staff in 10 years

  Bloomberg UBS Group AG could employ around 30 percent fewer staff in a decade as technological advances change banking, Chief Executive Officer Sergio Ermotti said in an interview with Bloomberg Markets. “We see a lot of contraction in the number of people in our industry,” he said. UBS, the world’s largest wealth manager, could shrink by that measure, including contractors, ...

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• 3 October

  Japan Air mulls more A350s as it adds India, N America routes

  

  Bloomberg Japan Airlines Co., which bought its first Airbus SE planes four years ago, is considering adding to its pending order of wide-body A350s as it seeks to increase routes to India and North America. The carrier has ordered 31 A350s scheduled for delivery starting 2019 and has options to buy 25 more. Japan Airlines may use some of these ...

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• 3 October

  Amazon’s Whole Foods lures new shoppers from Wal-Mart, Sprouts

  

  Bloomberg Amazon.com Inc.’s takeover of Whole Foods Markets has shaken the grocery business. Wal-Mart Stores Inc., Trader Joe’s and Sprouts Farmers Market Inc. may be hurting the most so far. Whole Foods’ foot traffic from new shoppers jumped 33 percent in the first week following Amazon’s acquisition, and Wal-Mart regulars accounted for the largest percentage of first-time customers, according to ...

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