Lebanese central bank governor inflated assets as liabilities grew-audit


BEIRUT/LONDON, July 23 (Reuters) – Lebanon’s central bank governor inflated the institution’s assets by over $6 billion in 2018, its audited annual accounts show, underlining the extent of financial engineering used to help prop up the country’s economy. The financial statements for 2018, a copy […]

Euro zone banks not ready for new benchmark rates: ECB


FRANKFURT, July 23 (Reuters) – Euro zone banks are not sufficiently prepared for the transition to new benchmark interest rates replacing Eonia and Euribor, the European Central Bank said on Thursday after carrying out a survey. “While banks are generally well aware of the complexity […]

Hong Kong losing to Singapore as venue for arbitration


HONG KONG (BLOOMBERG) – International companies are increasingly avoiding Hong Kong as a jurisdiction for settling disputes through arbitration, one of the clearest signs yet that China’s tightening grip on the financial hub has eroded trust in its legal system. Businesses are instead choosing rival […]

Australia, NZ dollars storm chart barriers to multi-month peaks


SYDNEY, July 22 (Reuters) – The Australian and New Zealand dollars were at multi-month highs on Wednesday as surging resource prices and a lurch lower in their U.S. counterpart shattered major chart barriers, sparking a wave of technical buying. The Aussie was taking in the […]

TREASURIES-Yields dip as talks on new economic stimulus on tap


By Karen Pierog CHICAGO, July 21 (Reuters) – U.S. Treasury yields fell slightly on Tuesday in range-bound trading as the market watched for the next round of aid out of Washington to combat the economic fallout from the coronavirus pandemic. The benchmark 10-year yield was […]

S.Africa renewables firms look for debt savings to lower tariffs


JOHANNESBURG, July 16 (Reuters) – South African renewable energy companies are looking for ways to make savings on their debt so they can help the government lower power tariffs from older solar and wind projects, the country’s wind energy association SAWEA said on Thursday. The […]