September, 2016

• 13 September

  Tokyo’s benchmark Nikkei ticks higher by close

  

    AFP Tokyo stocks ended higher on Tuesday with traders weighing speculation about a possible US interest rate hike while looking ahead to an upcoming Bank of Japan policy meeting. Dealers tracked a rally on Wall Street following dovish remarks by Federal Reserve Governor Lael Brainard who argued against hiking US interest rates quickly. She said the central bank should ...

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• 13 September

  Yuan liquidity squeeze a bad sign for China’s equity market

  

    Bloomberg The outlook for one of the world’s worst-performing stock markets is getting dimmer. China’s benchmark equity index was jolted out of its inertia on Monday when the cost of borrowing the yuan in Hong Kong jumped the most in seven months, exacerbating concern about a global selloff. The Shanghai Composite Index tumbled as much as 2.6 percent after ...

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• 13 September

  China risk weighs on Aussie banks

  

    Bloomberg The tyranny of distance is weighing on Australia’s banks in the U.S. bond market. The yields that dollar debt buyers demand from Australia’s largest lenders are higher than for Canadian banks with similar credit ratings, an analysis of more than 80 securities compiled by Bloomberg shows. While the two commodity-producing nations’ banks are among the developed world’s most ...

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• 13 September

  China’s Postal Savings Bank seeks up to $8.1bn in Hong Kong IPO

  

    Bloomberg Postal Savings Bank of China Co. is seeking as much as $8.1 billion in a Hong Kong initial public offering, which could become the world’s biggest share sale this year. The Beijing-based bank is offering 12.1 billion shares at HK$4.68 to HK$5.18 apiece, according to terms for the deal obtained by Bloomberg on Tuesday. Cornerstone investors, who commit ...

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• 13 September

  Banks may face 10% capital requirement hike

    Bloomberg Banks may face an increase of about 10 percent in their capital requirements as a result of the overhaul of risk-assessment rules under way at the Basel Committee on Banking Supervision, according to Philippe Heim, chief financial officer of Societe Generale SA. The Group of 20 nations and the Basel Committee’s oversight body “want to concretely deliver reform ...

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• 13 September

  Kenyan Central Bank sets CBR as the base rate for loan charges

  

    Bloomberg Kenya’s central bank said lenders should peg their loans to its Central Bank Rate, or CBR, in line with a new law capping costs and as the International Monetary Fund warned that legislation limiting how much lenders charge for credit risks impeding access to loans. East Africa’s biggest economy has introduced restrictions on borrowing costs that set commercial ...

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• 13 September

  Airlines strive to cut Canada’s fares

  

    Bloomberg Travel nearly anywhere in the world, and you’ll find cheap airlines offering no-frills service, from European giant Ryanair Holdings Plc to Peach Aviation Ltd. in Japan, Flynas in Saudi Arabia, and Spirit Airlines Inc. in the U.S. But head north of the border, and the aviation landscape is untouched by ultralow-cost airlines. Canada ranks among the world’s most ...

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• 13 September

  Qantas poised for first Aussie bond sale since ratings upgrade

  Bloomberg Qantas Airways Ltd. is considering selling its first Australian-dollar bond since the improved fortunes engineered by Chief Executive Officer Alan Joyce prompted rating firms to return the company’s credit score to investment-grade status. Australia’s biggest carrier, which has been buoyed by cost cuts and a global slump in fuel prices, will talk with fixed-income investors from next Wednesday and ...

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• 13 September

  Malaysia mulls $1bn spending to improve airports

  

    Bloomberg Malaysia plans to spend about $1 billion over the next five years to refurbish and expand its airports as the Southeast Asian country paces infrastructure growth with a surge in passenger traffic, its main airport operator said. “My main terminal may require some upgrade,” said Badlisham Ghazali, managing director of state-controlled Malaysia Airports Holdings Bhd., referring to Kuala ...

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• 13 September

  Samsung blames small battery flaw for prompting Note 7 recall

  

    Bloomberg Samsung Electronics Co. blamed a minor battery manufacturing flaw for prompting a global recall of its Galaxy Note 7 smartphones and is seeking more time to investigate the cause behind its deepest crisis in years. The Korean company outlined the preliminary findings in a report to the country’s technology standards agency that hasn’t previously been released. Initial conclusions ...

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