May, 2016

• 19 May

  Egypt’s bank offers $120mn to cover pharma imports

    Reuters Egypt’s central bank held the pound steady at a regular dollar sale but said the dollars would be directed to imports of pharmaceutical products, manufacturing components, vaccines and related chemicals and infant formula. The bank sold $120 million at the price of 8.78 per dollar, unchanged from last week. That is weaker than the rate for the dollar ...

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• 19 May

  Deutsche Bank pushes for profit from cutting energy consumption

  

    Bloomberg For energy investors, saving energy has never been as profitable as producing it. That’s starting to change, with institutions from Deutsche Bank AG to Societe Generale SA making it bankable to squeeze more out of electricity and fossil fuels. Their efforts have the potential to channel more money into energy-saving beyond the $45 billion reaped in 2014, blunting ...

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• 19 May

  Banks sued by investor over agency-bond rigging claims

  

    BLOOMBERG Bank of America Corp. and Deutsche Bank AG were among five banks sued over claims that traders conspired to manipulate trading agency bonds issued by government entities and institutions like the World Bank, harming investors who bought and sold the securities. The suit by Boston Retirement System, a pension fund representing city workers, follows inquiries by US and ...

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• 19 May

  Millennials show French banks lagging on branch cuts

  

    Bloomberg Jean-Baptiste Esmenjaud, 26, hasn’t set foot in his bank in over five years. “La Banque Postale lets me do everything online, and I speak over the phone once a year with an adviser,” said the biology student, a decade-long customer of the state-backed bank whose 9,000-plus French branches gives it one of Europe’s biggest such networks. “I’ve been ...

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• 19 May

  World’s oldest wealth fund eyes global infrastructure deals

  

    Bloomberg The Kuwait Investment Authority, which describes itself as the world’s oldest sovereign wealth fund, is targeting global infrastructure projects after taking part in a consortium that bought the London City Airport this year, Chairman Anas Al-Saleh said. The fund has shied away from purchasing trophy assets, focusing on deals that “give us our targeted returns,” Al-Saleh, the country’s ...

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• 19 May

  Sydney housing stalls as election jitters sideline sellers for now

  

    Bloomberg Brigitte Blackman, a real estate agent in inner Sydney, says her property listings have slumped 20 percent from a September peak, and the phones at her Potts Point office are no longer ringing off the hook. As Australia barrels toward elections on July 2, political uncertainty is weighing on the nation’s A$6.4 trillion ($4.7 trillion) housing market. With ...

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• 19 May

  NY regulator Subpoenas firms on housing-contract deals

  

    Bloomberg New York’s financial regulator has issued subpoenas to two companies with ties to Apollo Global Management LLC as part of an inquiry into housing transactions for low-income buyers. The New York State Department of Financial Services subpoenaed ARM Manager LLC, an indirect Apollo subsidiary, and the real estate investment trust it manages, Apollo Residential Mortgage Inc., asking for ...

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• 19 May

  A new oil star honks horn

  

    Bloomberg Investors looking for a break from the doom and gloom of the past two years in the oil market need only turn to a hot, noisy lot in Mumbai. There on a recent Saturday, a tall, cricket-loving, 34-year-old engineer named Anil Gaikwad took part in a rite of passage that for nearly a century has helped define entry ...

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• 19 May

  Dear delivery devours food startups

  

    Bloomberg As entrepreneurs around the world founded technology startups in the past few years to deliver food to diners’ doors, perhaps no market grew quite as riotously as India. Customers could order entrees, main dishes and desserts from different startups, none of which required a minimum order. Discounts were plentiful and delivery was free. Now the all-you-can-eat buffet is ...

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• 19 May

  Electronics that make consumers believe

  

    Sunaina Rana / Emirates Business LG’s innovative technologies, unique products, and cutting-edge designs are an investment in the future. With 2014 global sales of US$55.91 billion, LG comprises four business units — home entertainment, mobile communications, home appliance and air solution, and vehicle components. This is one of the world’s leading producers of flat panel TVs, mobile devices, air ...

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