StanChart stumps up $500m for AgBank IPO

StanChart stumps up $500m for AgBank IPO

Asia-focused bank Standard Chartered Plc said it will invest $500m as a cornerstone investor in Agricultural Bank of China’s IPO in Hong Kong. AgBank is seeking to raise more than $20bn in a Hong Kong and Shanghai IPO, and sources had previously told reporters that Standard Chartered would invest $500m. The listing is expected to […]
Stocks fall as bank funding worries intensify

Stocks fall as bank funding worries intensify

World stocks hit a 2-1/2 week low on Tuesday while oil and the euro also slipped as investors grew nervous over the funding situation of banks about to repay 442 billion euros ($545.5 billion) to the European Central Bank. Banks must repay the money borrowed a year ago at rock bottom rates on Thursday, leaving […]
Cuts expected to reduce police numbers

Cuts expected to reduce police numbers

The government said on Tuesday it was cutting police red tape by scrapping two targets introduced by the ousted Labour administration ahead of budget cuts expected to see a reduction in officers. Police minister Nick Herbert said sweeping away bureaucracy would allow officers to “do more with less” but accepted that “substantial” funding cuts were […]
Asia stocks rise as US bank bill fears ease

Asia stocks rise as US bank bill fears ease

Most Asian stock markets rose on Monday, with Europe set to follow, as fears eased that Washington would draft a harsh bill for regulating the banking sector and after an unremarkable conclusion to a Group of 20 leaders’ summit.  G20 leaders meeting in Toronto agreed to take their own paths to ensuring economic growth and […]
Shanghai stocks slip, AgBank IPO pricing eyed; HK firm

Shanghai stocks slip, AgBank IPO pricing eyed; HK firm

 China’s key stock index was down 0.6 percent by midday Monday, with volume slipping further as tight liquidity conditions worsened by Agricultural Bank of China’s looming stock offering starved the market of momentum for near-term gains.  The Shanghai Composite Index (SSEC) ended the morning at 2,537.2 points, slipping for a fourth day in a row […]
India fuel hike threatens strikes

India fuel hike threatens strikes

India’s opposition parties are gearing up for a national strike to protest the government’s move to hike fuel prices, putting pressure on Prime Minister Manmohan Singh’s coalition before the next parliament’s session.  Last Friday’s hikes in petrol, diesel and kerosene were seen as a bold reform with which to attack India’s fiscal deficit and that […]
Afghan mineral wealth put at $1-3 trillion

Afghan mineral wealth put at $1-3 trillion

Afghanistan’s untapped mineral deposits could be worth up to $3 trillion, the country’s mines minister said on Friday, higher than a recent U.S. estimate.  Officials from the U.S. Department of Defense said this month that Afghanistan’s mineral wealth could top $1 trillion, a finding that could reshape the country’s economy and help U.S. efforts to […]
Commodity stocks and banks pull FTSE lower

Commodity stocks and banks pull FTSE lower

Britain’s top share index fell early on Thursday as renewed doubts about the sustainability of a global recovery dented commodity stocks, and banks weakened as risk appetite ebbed. By 0759 GMT, the FTSE 100 was 33.54 points, or 0.7 percent, lower at 5,145.04 after falling 1.3 percent on Wednesday to its lowest closing level in […]
Who’s in charge in Europe?

Who’s in charge in Europe?

The question has puzzled leaders ranging from Henry Kissinger, said to have once asked who he should call to reach Europe, to Barack Obama. It has become all the more pertinent as the European Union tries to fill what is widely viewed as a leadership vacuum during the euro zone’s sovereign debt crisis.  Two leaders […]
European body denounces Chechnya

European body denounces Chechnya

The Council of Europe on Tuesday denounced a “climate of fear” in Chechnya, a decade after the Kremlin regained control of the mainly Muslim region in southern Russia from separatist rebels.  Kidnappings of opponents of Kremlin-appointed leader Razman Kadyrov regularly go unpunished, families of suspected fighters are targeted and the media and civil society are […]