…but it clips its forecasts for growth in developing east Asia October 7, 2013 DEVELOPING east Asia’s expected growth was trimmed by the World Bank yesterday, down to 7.1 per cent from 7.5 per cent last year. The organisation suggests China’s government will meet its 7.5 per cent growth target this year, but it had expected growth of 8.3 per cent in April. Predictions for Thailand’s growth were cut [...]
Japan’s Abe insists there is no alternative to his economic plan October 7, 2013 JAPANESE Prime Minister Shinzo Abe insisted yesterday that the country had emerged from its recent stagnation. Speaking at the Asia-Pacific Economic Co-operation meeting in Indonesia yesterday, Abe referred to the recent upturn for the Japanese economy as “a path that runs straight out before us”, stressing the importance of his government’s structural reforms: “There is [...]
IMF warn on risks of exit from stimulus October 7, 2013 THE INTERNATIONAL Monetary Fund (IMF) has warned central banks of the problems they may face when ending quantitative easing (QE) and other unconventional monetary policies. Yesterday’s report draws attention to some risks involved with the end of QE and other unorthodox tools, suggesting that financial stability could be affected, and over-reliance on such measures could [...]
Airbus gets first Japan jet order with £6bn deal October 7, 2013 AIRBUS announced its first jet order from Japan Airlines yesterday, breaking open the last big aviation market dominated by Boeing in a move that suggests the US company may pay for the 787 Dreamliner’s troubled debut. The landmark deal for 31 wide-body A350 jets with a combined $9.5bn (£5.92bn) value at list price follows an [...]
Fund mulls more green investments October 7, 2013 The Renewables Infrastructure Group, the clean energy fund, yesterday said its London flotation in July was oversubscribed, raising the full target of £300m. The Guernsey-based fund, which is managed by InfraRed Capital Partners, has acquired 18 wind and solar investments so far, with a “healthy pipeline” of further investments under evaluation. A group debt facility [...]
Algeria invests in Petroceltic field October 7, 2013 Aim-listed Petroceltic’s shares rose over two per cent yesterday, after the Irish oil and gas explorer said that Sonatrach, the Algerian state oil company, plans to increase its stake in one of its exploration areas. The deal is worth up to $170m in payments and contributions towards development, providing the Isarene asset hits early production [...]
Adriatic Oil to apply for Aim listing October 7, 2013 Energy explorer Adriatic Oil yesterday said it plans to move up to the junior stock market Aim, which if successful will be accompanied by a fundraising. “The board believes that a move to Aim is a natural step in the board’s plans to further grow and diversify our asset portfolio to generate value for shareholders,” [...]
City Moves for 08 October 2013 | Who’s switching jobs October 7, 2013 Cushman & Wakefield The property company has hired George Edwards as an associate in its London development team. Edwards was most recently at Lambert Smith Hampton, where he was an associate director and member of its investment advisory services team. Mayer Brown The law firm has appointed two partners to its banking and finance group in [...]
Best of the Brokers for 08 October 2013 October 7, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com HOCHSCHILD UBS has upgraded the mining firm from “neutral” to “buy” and lowered its target price on the stock from 225p to 220p after its acquisition of a minority interest in the Pallancata mine and the Inmaculada project, the broker says it is [...]
London Report: FTSE hit by US debt and weak sales in China October 7, 2013 BRITAIN’S main share index fell yesterday, with broad sentiment bruised by political stalemate over the US debt ceiling, and with luxury goods group Burberry hit by concerns over a slowdown in its sales in China. The US government moved into a second week of shutdown, raising the risk that a compromise will not be reached [...]
