The World Bank has opened public voting on the applications submitted to the Apps for Development Competition that challenged software developers to get new perspectives in identifying solutions to development problems. The Popular Choice Award will be determined by public vote and the winner will receive a cash award and a feature on the World [...]
Posts Tagged ‘Bank’
World Bank opens public voting on ‘Apps for Development’
February 1st, 2011 |
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DBS Bank opens new Tamil Nadu branch
January 31st, 2011 |
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DBS Bank says it has opened a new branch in Cuddalore (Tamil Nadu) and an ATM centre in Puducherry.
Through this new branch, DBS will be able to cater to the evolving banking needs of the large number of enterprises operating in and around Cuddalore, it says.
Cuddalore and Puducherry are home to several enterprises manufacturing FMCG products, leather accessories, engineering ancillaries, chemicals and pharmaceuticals.
Bank of Singapore says yuan may appreciate 6% a year: Update
January 27th, 2011 |
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Investors should buy yuan-denominated assets or open yuan deposit accounts because the Chinese currency may appreciate by as much as 6% a year, according to Bank of Singapore.
“If anything is close to certain it’s that the renminbi will appreciate,” Head of Product Development Marc van de Walle said at a media briefing in Singapore today, using the yuan’s alternative name. “It’s got the potential to appreciate between 4% and 6% annually, and maybe even a bit faster,” he said, without providing a specific time frame.
Bank of Singapore says yuan has scope to appreciate 4%-6% a year
January 27th, 2011 |
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Bank of Singapore, the private banking business of Oversea-Chinese Banking Corp., recommends that investors get into yuan-denominated assets and said the Chinese currency has the potential to appreciate by between 4% and 6% annually, the bank’s head of product management Marc van de Walle told reporters in Singapore today.
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Bank of Singapore advises investors to have large bond holdings
January 27th, 2011 |
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Bank of Singapore, the private banking business of Oversea-Chinese Banking Corp., recommends that investors hold a substantial amount of bonds in their portfolios and focus on emerging markets, the bank’s Chief Investment Officer Hou Wey Fook told reporters in Singapore today.
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Bank of Moscow Singapore bonds to yield 4.375%
January 26th, 2011 |
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Bank of Moscow, the Russian lender controlled by the city’s government, plans to sell two-year bonds denominated in Singapore dollars, according to a person familiar with the deal.
The bank will sell as much as 200 million dollars of the debt to yield around the 4.375% area, according to a person familiar with the proposed issue. The notes may be sold as early as this week, said the person, who declined to be identified as details are yet to be made public.
Bank of America-Merrill Lynch starts GMG Global at Buy; $0.50 target
January 26th, 2011 |
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Bank of America-Merrill Lynch starts GMG Global (5IM.SG) at Buy with a $0.50 target.
The house says the stock offers a 75% potential upside and new target price implies FY2011 price earnings of 15.5X. “Rubber is the new black” and that GMG is the “world’s pure rubber play,” the house says.
India’s Reserve Bank hikes key rates to tame inflation
January 25th, 2011 |
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In a bid to tame prices that has seen annual food inflation soar to double digits, India’s central bank Tuesday hiked its short-term lending and borrowing rates by 25 basis points that could make commercial, housing and auto loans dearer. Reserve Bank of India (RBI) Governor Duvvuri Subbarao hiked the repurchase or repo rate to [...]
Deutsche Bank raises Keppel Land target to $5.08
January 25th, 2011 |
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Deutsche Bank raises Keppel Land (K17.SG) target price to $5.08 from $5.00 pegged to parity to RNAV and reflecting mark-to-market of KREIT (K71U.SG), higher-than-expected gain from the MFBC divestment, a higher-than-expected ASP for Lakefront and surplus on Nantong.
Bank of Moscow selling two-year Singapore dollar bonds: Update
January 24th, 2011 |
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Bank of Moscow is selling its first bonds denominated in Singapore dollars and has hired ING Groep NV and UBS AG to arrange the two-year notes sale.
The Moscow-based bank declined to provide other details, according to a statement e-mailed by its press department today.
Bank of Moscow says selling Singapore dollar bonds via ING, UBS
January 24th, 2011 |
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Bank of Moscow is selling bonds denominated in Singapore dollars and has hired ING Groep NV and UBS AG to arrange the deal, according to a statement emailed by the bank’s press department.
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Bank of Moscow seeks 2-year Singapore dollar bond – IFR
January 24th, 2011 |
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Russia’s Bank of Moscow (MMBM.MM) plans a 2-year bond, denominated in Singapore dollars, IFR reported on Monday.
The bank, among Russia’s top-10 in terms of assets, has mandated ING and UBS as joint bookrunners and joint lead managers for the issue, IFR added.
It did not specify the planned issue amount, saying the transaction is expected to be launched in the near future.
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SGX secures term loans of $3.8b and A$750m for ASX merger
January 24th, 2011 |
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SGX says it has secured term loans of $3.8 billion and A$750 million ($952 million) for long-term financing facilities for the proposed ASX-SGX combination announced on 25 October 2010.
The funding comprises to be made available by Australia and New Zealand Banking Group, The Bank of Tokyo- Mitsubishi UFJ, Singapore Branch, DBS Bank, Oversea-Chinese Banking Corporation, United Overseas Bank and National Australia Bank.
SGX lines up long-term funding for planned ASX purchase
January 24th, 2011 |
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Singapore Exchange (SGXL.SI) said on Monday it has lined up long-term funding from a consortium of six banks for its proposed US$7.8 billion ($10 billion) takeover of Australian rival ASX (ASX.AX).
The term loans of $3.8 billion and A$750 million ($951.8 million) will come from Australia and New Zealand Banking Group (ANZ.AX), Bank of Tokyo-Mitsubishi UFJ (8306.T), DBS Group (DBSM.SI), Oversea-Chinese Banking Corp (OCBC.SI), United Overseas Bank (UOBH.SI) and National Australia Bank (NAB.AX).
ANZ will be the co-ordinator for the term loans.
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Royal Bank of Scotland – Corporate moves
January 21st, 2011 |
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Madan Menon has been appointed country executive, Singapore wef January 2011
Work experience: Head, global banking & markets, India/head, global banking, South East Asia, Royal Bank of Scotland
Bill Gross: “Ultimately Creditors And Investors Are At The Behest Of A Central Bank And Policymakers That Will Rob Them Of Their Money”
January 19th, 2011 |
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Bill Gross had a great sound bite at Forbes’ annual investing roundtable:I don’t know if the U.S. has reached a desperate point, but it is employing instruments and vehicles and policies that smack of desperation. We are not looking at a default here…
RBS keeps UOB at Buy; preferred Singapore bank
January 19th, 2011 |
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RBS keeps UOB (U11.SG) at Buy, raising its target price to $23.00 from $22.00. It says “UOB’s management was too conservative going into 2010. It lagged both DBS and OCBC on loan growth,” but management recently adopted a more aggressive stance and loan growth could match its peers in FY11.
Data out on central bank reserve, public debt
January 18th, 2011 |
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The National Bank of Serbia (NBS) foreign exchange reserve increased by EUR 340.5mn in December to reach EUR 10bn at the end of 2010. The net reserve, which is the total reserve minus the required reserve for the banks and the funds received from the International Monetary Fund, stood at EUR 5.1 billion on December 31.
Danamon jumps most in 20 months on DBS speculation
January 18th, 2011 |
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PT Bank Danamon Indonesia rose the most in 20 months in Jakarta trading amid speculation DBS Group Holdings will buy a stake in the Indonesian lender, according to Teguh Hartanto, an analyst at PT Bahana Securities.
Danamon, owned by Singapore’s Temasek Holdings and Deutsche Bank AG, surged 11% to 5,950 rupiah at the 4 p.m. Jakarta time close, the steepest increase since May 19, 2009. The Jakarta Composite index gained 0.4%.
Central bank buys hard currency
January 18th, 2011 |
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The Serbian dinar (RSD) has continued to strengthen against the euro for the seventh consecutive day. On Tuesday its value increased by 56 paras, thus setting the official middle exchange rate at RSD 104,3460, announced the National Bank of Serbia.