September, 2017

• 10 September

  Petchems, banks support Saudi, Qalaa surges in Egypt

  Reuters Stock markets in the Middle East were mixed in narrow ranges on Sunday, with banks and petrochemicals supporting Saudi Arabia while Qatar edged down to a fresh 18-month closing low. The Saudi index rose 0.2 percent. All but two of the 14 listed petrochemical shares advanced after a pick-up in oil prices at the end of last week, with ...

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• 10 September

  Oil denies Saudi biggest regional stock market tag

  Bloomberg Oil has denied Saudi Arabia the opportunity to overtake South Africa as the biggest stock market in the Middle East and Africa, even as political turmoil and a faltering economy hold back share prices in Johannesburg. The total market capitalisation of the South African bourse was $489 billion, about $25 billion more than that of Riyadh’s after its main ...

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• 10 September

  White House considering at least six for Federal chair

  

  Bloomberg The White House is considering more than a half-dozen candidates to be the next head of the Federal Reserve, including economists and business people, with a goal of filling out a depleted board with expertise ranging from financial regulation to community banking, according to three people familiar with the matter. The breadth of the search goes against the narrative ...

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• 10 September

  Pakistan bank to pay $225mn, end US operations

  

  Bloomberg New York’s banking regulator ordered Habib Bank Ltd. to pay $225 million and surrender its license to operate in the state, effectively removing Pakistan’s largest lender from the US financial system. Managers in Habib’s branch office in Manhattan failed for more than a decade to shore up weak anti-money-laundering controls and sanctions compliance, New York’s Department of Financial Services ...

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• 10 September

  Indonesia bank rally imperilled by sluggish lending, bad loans

  

  Bloomberg The rally in Indonesian bank stocks may be nearing an end amid sluggish credit growth and tougher regulations for loan quality assessments. Equity analysts are now downgrading banking stocks after the Jakarta Finance Index rallied 21 percent this year—more than double that of the main gauge—as they expect nonperforming loans in the $527 billion industry to creep up again. ...

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• 10 September

  Nordea move has Riksbank chief warning of dangerous fallout

  

  Bloomberg Nordea Bank AB’s relocation from Stockholm to Helsinki in pursuit of a friendlier regulatory environment is drawing expressions of dismay from some of Sweden’s highest-ranking officials. Stefan Ingves, the governor of Sweden’s Riksbank and the chairman of the Basel Committee on Banking Supervision, called the decision “dangerous for everyone in the Nordics and Baltics” if Nordea’s intention was to ...

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• 10 September

  Private equity prowls for young bankers early in frenetic ritual

  

  Bloomberg Wall Street’s newbies—investment banking analysts straight out of college who just hit the desk—have barely started one job when another starts beckoning. Junior analysts a few weeks on the job can now expect a flurry of emails from headhunters for some of the most prestigious private equity firms in the world. The jobs they’re being recruited for can pay ...

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• 10 September

  British pound climbs to five-week high

  Bloomberg The pound rose to a five-week high against a weaker dollar as investors covered short positions and UK manufacturing data beat expectations. Sterling headed for its third weekly gain against the dollar and hit $1.32, as the greenback dropped against all its Group-of-10 peers. Data showed UK manufacturing rose in July for the first time this year, while the ...

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• 10 September

  Delta enlists ‘Queen of the skies’ in Irma exodus

  

  Bloomberg Delta Air Lines Inc. celebrated the final domestic flight for its Boeing Co. 747 jumbo fleet with an overnight party from Los Angeles to Detroit recently. The farewells were a little premature, it turns out. The carrier enlisted the iconic humpbacked jetliner to help whisk people away from Hurricane Irma, with a special round-trip flight from Detroit to Orlando, ...

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• 10 September

  India mulls excluding debt of flag carrier before stake sale

  

  Bloomberg India’s government, which is planning to sell a stake in its state-run flag carrier, is considering options such as keeping out at least a part of its $8 billion of debt to help lure investors, the nation’s civil aviation minister said. Air India Ltd.’s assets such as real estate could also be spun off into a separate company, A ...

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