September, 2016

• 4 September

  Saudi state fund plans stake in big industrial zone

  

    DUBAI / Reuters Saudi Arabia’s top sovereign wealth fund is negotiating to buy a stake in one of the kingdom’s most ambitious real estate projects as Riyadh restructures the economy to cope with low oil prices, a source familiar with the plan said. The Public Investment Fund (PIF) aims to invest in King Abdullah Economic City (KAEC) on the Red ...

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• 4 September

  Japan’s benchmark yield back above zero on BOJ, auctions

  

    Bloomberg Japanese government bonds’ worst week in a month sent 10-year yields almost back up to zero amid speculation the Bank of Japan will tweak its debt-buying program this month and concerns that demand will decline at auctions this month. Benchmark yields climbed to minus 0.02 percent, the highest since March 16 in Tokyo. Forty-year yields advanced to 0.57 ...

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• 4 September

  Qatar National Bank to open Cuba office

  

    DUBAI / Reuters The Gulf’s largest listed lender, Qatar National Bank (QNB), said on Sunday it would open a representative office in Cuba, becoming the first bank from the rich energy-exporting countries of the Gulf to do so. Government-controlled QNB has obtained regulatory approvals needed to open the office, in line with its strategy of expanding in selected countries, ...

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• 4 September

  ECB throws 12th zero at inflation in trn-euro cash binge

    Bloomberg The European Central Bank (ECB) added a digit to its odometer to read 1,000,000,000,000. Euros, not kilometers. That’s the amount of excess liquidity now sloshing through the financial system — equivalent to almost 3,000 euros ($3,360) for each of the 340 million people in the 19-nation region. The money is created by the ECB through a program of ...

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• 4 September

  Poland favours PZU buying UniCredit’s Pekao unit

  

    Bloomberg Poland favours government-controlled insurer PZU SA as the buyer for Bank Pekao SA, the country’s second-largest bank held by Italy’s UniCredit SpA, with the price representing the main hurdle, Finance Minister Pawel Szalamacha said. Speaking to Bloomberg at the Ambrosetti Forum in Cernobbio, Italy, Szalamacha said his government backs a possible deal but insisted this was up to ...

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• 4 September

  Anbang prompts soul-searching as Morgan Stanley, UBS divided

  

    Bloomberg One of Hong Kong’s potentially most lucrative initial public offerings in recent years has bankers facing some difficult choices. Anbang Insurance Group Co., known for its aborted $14 billion attempt to buy Starwood Hotels & Resorts Worldwide Inc., has asked investment banks to pitch for roles on an IPO of its life insurance assets. While the recent dearth ...

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• 4 September

  Siege warfare, suffering as US, Russia bicker over Syria

  

    Hangzhou / AFP The US said on Sunday it had not yet struck a hoped-for deal with Russia on stemming the violence in Syria’s brutal civil war, blaming Moscow for backtracking on issues it thought were settled. President Barack Obama said earlier that the two sides were “working around the clock” on the sidelines of a summit in China, but ...

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• 4 September

  US will help bring Turkey coup plotters to justice: Obama

    Hangzhou / AFP The United States is committed to bringing the perpetrators of the attempted coup against Turkish President Recep Tayyip Erdogan to justice, President Barack Obama said on Sunday. Ankara accuses US-based cleric Fethullah Gulen of being behind the July uprising. At talks with Erdogan on the sidelines of the G20 summit, Obama said: “We will make sure that ...

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• 4 September

  Bangladesh hangs radical party’s top financier

    Dhaka / AFP Bangladesh has executed a tycoon and top financier for the largest radical party for war crimes, dealing a major blow to its ambitions in the troubled Muslim-majority country. Mir Quasem Ali, a key leader of Jamaat-e-Islami, was hanged late Saturday after being convicted by a controversial war crimes tribunal of murder and abduction during the 1971 independence ...

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• 4 September

  Turkish jets destroy Kurdish rebel targets

  

    Ankara / AFP Turkish warplanes have destroyed 10 Kurdish rebel positions in the restive southeast as Ankara steps up its fight against the outlawed Kurdistan Workers’ Party (PKK), state media reported on Sunday. Jets bombed four PKK targets in the Cukurca district of the southeastern province of Hakkari close to northern Iraq on Saturday evening, security sources told state-run Anadolu ...

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