WHAT THE OTHER PAPERS SAY THIS MORNING August 19, 2010 FINANCIAL TIMES ACCOUNTING ISSUES MAR CONNAUGHT SELL OFF PLANS Accountancy issues at Connaught are expected to have affected more than just the beleaguered property service group’s social housing maintenance division, according to people familiar with the matter. The development may affect the ability of Connaught to sell off parts of its business, which is one [...]
Carlsberg ups target as key markets rise August 17, 2010 CARLSBERG yesterday lifted its target for profits growth after reporting a 30 per cent rise in second-quarter profits and winning a bigger proportion of some of its main markets. The group said it expected net profits to surge an estimated 40 per cent this year – double the 20 per cent previously forecast. Carlsberg, which [...]
Investors should look East if they want strong yields August 17, 2010 FIXED income is at a cross roads. While yields on G3 government bonds continue to fall to record lows, investors are left in a quandary: put up with low yields because these are the “safest” bonds in the world, or sell their stakes and move into the higher-yielding debt of emerging markets. Since the onset [...]
EMERGING MARKET DEBT FUNDS August 17, 2010 ABERDEEN GLOBAL – EMERGING MARKETS BOND FUND Launched in August 2001, this fund is managed by Aberdeen’s emerging markets bond team and has $531.1m in assets under management. It aims to create long-term total return by investing in fixed interest securities issued by emerging market firms and government-related bodies. It is a Luxembourg-domiciled SICAV with [...]
Russian drought set to hit grain output August 16, 2010 RUSSIA’S severe drought may cut its grain output by 40 per cent this year, a leading research group said yesterday, as Russia’s weather service forecast short-lived rains in some areas which could help planting for next year. Leading Russian agricultural analyst’s body SovEcon said it cut its 2010 grain crop forecast to 59.5-63.5m tonnes from [...]
Russian grain ban fuels fears of food price inflation August 15, 2010 CONCERNS over sharply rising food prices were stoked yesterday as Russia, the world’s third largest wheat seller, brought in an emergency ban on grain exports. Experts said the price of bread could shoot up by ten per cent after Prime Minister Vladimir Putin said the government had banned grain exports until 31 December. Putin said [...]
Rugby and more: Hong Kong Sevens August 15, 2010 THE end of March marks the time when the rugby nations come to town for three days of non-stop action on the pitch at the Hong Kong stadium near Happy Valley. Off-pitch it’s a non-stop party in the stands, where crowds of supporters from around the world decked out in all manner of fancy dress [...]
SPORT | IN BRIEF August 15, 2010 Johnson mulling Stevens recall RUGBY UNION: Martin Johnson has left the door open for Matt Stevens to make a controversial return to the England squad. Johnson insists Stevens will be considered for next year’s World Cup if he proves his form and fitness after his two-year drugs ban expires in January. “He has got to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 11, 2010 FINANCIAL TIMES EVERBRIGHT BANK PRICES IPO AT TOP OF RANGE China Everbright Bank, the last of China’s big national lenders to sell shares to the public, is set to raise up to Rmb21.7bn in its initial public offering after pricing its shares at the top end of an indicative range. The country’s 11th-largest bank will [...]
Deripaska eyes new IPO August 11, 2010 Russian oligarch Oleg Deripaska is understood to be valuing his electricity producer EuroSibEnergo at around $8bn (£5.1bn) ahead of a planned Hong Kong IPO this autumn. The billionaire, who successfully listed aluminium giant Rusal on the same bourse in January, is currently marketing his power unit – formerly called En+ Power – to potential cornerstone [...]