EBRD may lend 244 mln euros to Kazakh pipeline firm Kaztransgas

ALMATY, April 6 () – The European Bank for Reconstruction and Development (EBRD) is considering extending the equivalent of $244 million in loans to two units of Kazakh gas pipeline operator Kaztransgas, the bank said on Monday. If approved at the planned May 27 review, the local-currency loans will “support the company during the economic […]

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UPDATE 2-HSBC HK shareholders mull legal action over dividend suspension

HONG KONG/LONDON () – HSBC (HSBA.L) shareholders in Hong Kong are calling for an extraordinary meeting with the bank’s management and considering legal action against its decision to scrap dividend payments. FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. /Brendan McDermid/File Photo […]

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Taiwan promises to double SME loans if needed

TAIPEI, April 6 () – Taiwan’s central bank has pledged to double the amount of money earmarked for loans to support small and medium-sized companies to deal with the impact of the coronavirus if needed, the head of the island’s Financial Supervisory Commission (FSC) said on Monday. The central bank, which last month earmarked T$200 […]

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Japanese stocks jump on signs of coronavirus slowdown

SYDNEY, April 6 () – Japanese shares rose on Monday, boosted by a slowdown in COVID-19 deaths and new cases in global hotspots including New York and Italy, as uncertainty over a potential lockdown in Tokyo kept some investors on the sidelines. The benchmark Nikkei average gained 4.2% to 18,576.30, its highest close in nearly […]

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INSIGHT-As Germany reels from coronavirus, some officials debate impact on banks

FRANKFURT () – As Germany rolls out a 750 billion-euro economic stimulus package, officials and experts are discussing whether German lenders, including Deutsche Bank AG and Commerzbank AG, will be able to weather the economic fallout of coronavirus without state help. FILE PHOTO: A man wears a face mask during a protest demanding to take […]

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European shares jump as coronavirus deaths slow

(For a live blog on European stocks, type LIVE/ in an Eikon news window) April 6 () – European shares rebounded on Monday as a slowdown in coronavirus deaths in France and Italy raised hopes that sweeping lockdowns were starting to show results. The benchmark STOXX 600 index was up 2.9% at 0707 GMT, after […]

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Japan vows to fight ‘biggest global crisis since WWII’ with massive coronavirus stimulus package – draft

TOKYO () – Japanese Prime Minister Shinzo Abe’s government is to pledge to take “all steps” encompassing fiscal, monetary and tax policies to battle the deepening fallout from the coronavirus in a stimulus package to be approved on Tuesday, a draft document reviewed by showed. FILE PHOTO: An aerial view shows less than usual passersby […]

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NMC in talks with lenders to avoid administration

FILE PHOTO: General view of NMC specialty hospital in Abu Dhabi, United Arab Emirates, February 11, 2020. /Satish Kumar/File Photo () – Troubled hospital group NMC Health (NMC.L) said on Monday it is in talks with Abu Dhabi Commercial Bank ADCB.AD, seeking to convince it to withdraw an application that the lender had filed proposing […]

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UPDATE 1-Wells Fargo caps role in coronavirus rescue program at $10 bln

() – Wells Fargo & Co (WFC.N) said late Sunday that it will cap its participation in the U.S. government’s small business coronavirus rescue program at $10 billion due to regulatory constraints. The $350 billion loan program, which launched on Friday, will provide low-interest loans to help small businesses cover payroll and other fixed costs […]

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Tesla engineers show ventilator prototype on YouTube

NEW YORK () – Engineers at Tesla Inc (TSLA.O) showed a prototype for a ventilator on Sunday evening in a video published on the company’s YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages. FILE PHOTO: The view of Tesla Inc’s U.S. vehicle factory which was open for business on […]

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Asian firms rush to meet $69 bln in Q2 debt refinancing

HONG KONG () – Companies in the Asia Pacific need to raise a near record $69.3 billion to refinance their existing borrowings in the second quarter, Refinitiv figures show, as the region’s capital markets remain turbulent due to the coronavirus pandemic. FILE PHOTO: People wear protective face masks, following an outbreak of the novel coronavirus […]

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Australia shares poised to rise at open, NZ slips

April 6 () – Australian shares are set to open higher on Monday as a slowdown in the country’s growth rate of coronavirus cases is likely to revive risk appetite, even as pressure on commerce and industries persists due to travel and social restrictions. The local share price index futures rose 0.9%, a 11.5-point premium […]

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QDB launches guarantee programme to facilitate interest-free bank loans

CAIRO, April 5 () – Qatar Development Bank has launched a national programme to provide guarantees to local banks to grant interest-free loans to companies affected by the coronavirus outbreak, state news agency QNA said on Sunday. The move came under the direction of Qatar’s emir and in cooperation with ministry of finance, the central […]

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Thousands of Bangladeshi garment workers ordered home as factories stay closed

DHAKA (Thomson Foundation) – Thousands of Bangladeshi garment workers were ordered home on Sunday voicing concerns about loss of income after arriving at work to find factories remained shut after the cancellation of Western orders due to the coronavirus pandemic. Although official numbers were not available, labor leaders said the majority of the workers they […]

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U.S. banks to defend dividend payments in stress tests -FT

FILE PHOTO: The U.S. Federal Reserve Building is pictured in Washington, March 18, 2008. /Jason Reed/File Photo NEW YORK () – U.S. banks are expected to defend their dividend payments when they submit their annual capital plans to the Federal Reserve on Monday for the upcoming stress tests, the Financial Times reported on Sunday, citing […]

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UPDATE 1-BoE will not use monetary financing to fight coronavirus crisis – Bailey

* Bailey: we are not doing “monetary financing” * BoE will protect independence of inflation targeting * Central bank has raised bond-buying * UK government is borrowing more to fund higher spending * BoE is in control of expansion of reserves – Bailey (Adds details) By William Schomberg LONDON, April 5 () – The Bank […]

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