The Serbian government has proposed a new bill to parliament, in a bid to borrow more money from commercial banks. A new loan would amount to USD 400mn.
Posts Tagged ‘banks’
STI +0.1%; REITS, commodity plays, banks rise
January 19th, 2011 |
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Singapore’s STI is up 0.1% at 3251.94 midday, continuing its rangebound consolidation. REITs and banks are mostly higher, while palm stocks are strong on rising commodity prices and bullish supply/demand dynamics for CPO; property developers are mostly lower.
Policy to dampen sentiment on Singapore banks – Deutsche Bank
January 17th, 2011 |
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Deutsche Bank says although latest action to cool Singapore’s residential property market shouldn’t come as great surprise “it will likely dampen sentiment towards the banks near-term.” In month following measures August, banks underperformed the STI by 5.0%. It adds, UOB (U11.SG) was most affected, falling 8.0%, while DBS (D05.SG) and OCBC (O39.SG) were down 3.0%, “which is intuitive given the bank’s greater reliance on housing to deliver credit growth.”
Government Says No to Helping States and Main Street, While Continuing to Throw Trillions at the Giant Banks
January 13th, 2011 |
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The Wall Street Journal noted last week:Federal Reserve Chairman Ben Bernanke on Friday ruled out a central bank bailout of state and local governments strapped with big municipal debt burdens, saying the Fed had limited legal authority to help and l…
Virtually All Independent Financial Experts Say that the Size of the Big Banks Is Hurting the Economy
January 11th, 2011 |
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Here’s my updated list of top financial experts saying that the giant banks are too big, and that their very size is hurting the economy:Nobel prize-winning economist, Joseph StiglitzNobel prize-winning economist, Ed Prescott Nobel prize-winning econom…
Mapletree Commercial said to hire banks for $1b IPO
January 10th, 2011 |
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Mapletree Commercial Trust, the owner of properties including Singapore’s VivoCity shopping mall, hired banks for a $1 billion initial share sale this quarter, said a person with knowledge of the matter.
The trust, a unit of Mapletree Investments, hired CIMB Group Holdings Bhd., Citigroup Inc., DBS Group Holdings, Deutsche Bank AG and Goldman Sachs Group Inc. as advisers on the sale, the person said, asking not to be identified as details are private.
Temasek said to hire banks for global bond investor meetings
January 10th, 2011 |
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Temasek Holdings, the Singapore state-owned investment company, hired HSBC Holdings Plc, Standard Chartered Plc and UBS AG to help it organize meetings with credit investors, according to a person familiar with the matter.
The investor update meetings, which start this week, will take place in mainland China, Taipei, Chicago, Switzerland and Germany, the person said, asking not to be identified as details are private.
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Jan 10: Singapore stocks may open lower on Wall St; Banks in focus
January 10th, 2011 |
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Singapore shares may open lower on Monday with bank stocks in focus after losses on Wall Street following a court ruling in a key foreclosure case that prompted investors to pull out of U.S. bank stocks.
Singapore’s benchmark Straits Times Index <.FTSTI> was down 0.56% last Friday to 3,261.35 points. Here are some stocks and factors to watch today:
Singapore banks DBS (DBSM.SI), Oversea-Chinese Banking Corporation (OCBC.SI) and United Overseas Bank (UOBH.SI) may be affected after shares of U.S. lenders fell on fears the court ruling could threaten their ability to work through pending foreclosures.
Shares up at midday; GLP, banks among the top actives
January 5th, 2011 |
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Singapore shares edged higher on Wednesday as renewed interest in Global Logistic Properties (GLP) (GLPL.SI) and the city-state’s three local banks was offset by profit-taking on oil and commodity-related plays.
By the midday break, the Straits Times Index (STI) <.FTSTI> was up 0.1%, or 2.86 points, to 3,253.15. The total value of shares traded was $1 billion, slightly lower than $1.1 billion during Tuesday’s morning session.
By the midday break, the Straits Times Index (STI) <.FTSTI> was up 0.1%, or 2.86 points, to 3,253.15. The total value of shares traded was $1 billion, slightly lower than $1.1 billion during Tuesday’s morning session.
DMG stays neutral on Singapore banks; UOB top pick
January 3rd, 2011 |
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Singapore banking stocks are up 0.6% to 1.2%, in line with the STI’s 1.0% rise, likely reflecting robust underlying optimism over the domestic economy heading into 2011, but volume is tepid with DBS (D05.SG), UOB (U11.SG) and OCBC (O39.SG) all registering less than a million shares traded so far.
Singapore stocks end lower at 3,190.04 on banks; up 10% in 2010
December 31st, 2010 |
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Singapore shares closed 2010 with a whimper, underperforming other Asian bourses as losses in DBS Group (DBSM.SI) and United Overseas Bank (UOBH.SI) pushed the benchmark index 0.7 % lower on Friday.
Based on preliminary data, the Straits Times Index (STI) <.FTSTI> closed 22.42 points lower at 3,190.04. The total value of shares traded during Friday’s half-day session was $725 million, up from $474 million as at midday Thursday.
IIFL sees green shoots for Singapore banks
December 22nd, 2010 |
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IIFL says Singapore banks are the cheapest in the Asean region with 1.2x-1.6x forward P/B, 10x-12x forward P/E and dividend yield of 4%-5% after they underperformed their regional peers this year.
The house says such underperformance was mainly due to the overhang of NIM contraction, as Sibor declined by 24 bps during 2010 to a 23-year low.
STI flat in low volume; Banks, rig plays up
December 17th, 2010 |
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The STI is flat at 3,148.20 in anaemic volume of 692 million shares worth $894 million, as a lack of global and domestic catalysts, combined with the fact that most participants are winding down for the festive season, means trade remains rangebound and largely directionless.
No systemic home-loan risk for Singapore banks: IIFL
December 16th, 2010 |
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Singapore banks’ significant exposure to the city-state’s property sector does not present a systemic risk, says IIFL Securities.
The house notes the proportion of property loans to overall loans for Singapore banks has doubled to 51% as of September this year from 24% in 1991, but more than 70% of housing loans are used for owner-occupied properties, which have a lower risk profile.
STI +0.2%; Rig builders, banks, commodity plays up
December 16th, 2010 |
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The STI is +0.2% at 3,153.87 midday after yesterday’s 0.9% loss, with rig-builders, banks and some commodities plays leading gains.
Volume is thin with 517 million shares worth $595 million traded, while market breadth is slightly negative.
The Economy Cannot Recover Until the Big Banks Are Broken Up
December 11th, 2010 |
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A lot of people still haven’t heard that the economy cannot recover until the big banks are broken up.But virtually all independent economists and financial experts say that it is vital to break up the giant banks, including:Nobel prize-winning economi…
Cantona’s call for run on French banks
December 7th, 2010 |
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Inspired by former soccer star, and now actor Eric Cantona, December 7 has been named the global banking system’s “day of reckoning”. Deutsche Welle reports that people are being asked to withdraw all their money from the banks.
Solid household wealth supports Singapore banks: BNP Paribas
December 6th, 2010 |
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BNP Paribas remains positive on Singapore banks; says MAS’ Financial Stability Review.
Study shows household (HH) wealth +29.1% vs 1Q09 trough to record $1,156 billion 3Q10, driven by rising residential property, equity prices; as HH asset growth has outpaced HH debt growth for past four quarters, HH leverage ratio now 14.6%, below long-term average of 18%.