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Business News >> Top News

Nauru president loses his seat in elections: media reports

Nauru president loses his seat in elections: media reportsNauru President Baron Waqa was voted out of office in the tiny South Pacific island nation after six years in power, media reports said on Sunday. Sixty candidates contested the election, seeking the support of 7,400 registered voters. Political instability has plagued Nauru in the past but the previous election in 2016 was deemed by Commonwealth observers to be transparent and fair.



08/25/2019 - 02:14 AM

 

One Thing To Remember About The KPS AG (ETR:KSC) Share Price

One Thing To Remember About The KPS AG (ETR:KSC) Share PriceIf you own shares in KPS AG (ETR:KSC) then it's worth thinking about how it contributes to the volatility of your...



08/25/2019 - 01:59 AM

 

Is Kamux Oyj (HEL:KAMUX) A Risky Investment?

Is Kamux Oyj (HEL:KAMUX) A Risky Investment?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...



08/25/2019 - 01:29 AM

 

Should You Be Impressed By Honkarakenne Oyj's (HEL:HONBS) ROE?

Should You Be Impressed By Honkarakenne Oyj's (HEL:HONBS) ROE?Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...



08/25/2019 - 12:59 AM

 

CyberTech Systems and Software (NSE:CYBERTECH) Has A Rock Solid Balance Sheet

CyberTech Systems and Software (NSE:CYBERTECH) Has A Rock Solid Balance SheetSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...



08/25/2019 - 12:49 AM

 

China to fight back against U.S. tariff move: People's Daily

China to fight back against U.S. tariff move: People's DailyChina will fight back against the latest U.S. step to increase tariffs on Chinese goods, the ruling Communist Party's People's Daily said on Sunday amid an escalating trade war between the world's two largest economies. "China is confident that it will follow its own path and do its own things well, and will never waver in its stand on countering any provocations by the U.S. side," the newspaper said in a commentary. U.S. politicians, seeking to hamper China's economic development, still want to use the tactics of exerting maximum pressure on China that has achieved few results, the paper said.



08/25/2019 - 12:44 AM

 

Tips Industries Limited (NSE:TIPSINDLTD): Commentary On Fundamentals

Tips Industries Limited (NSE:TIPSINDLTD): Commentary On FundamentalsAttractive stocks have exceptional fundamentals. In the case of Tips Industries Limited (NSE:TIPSINDLTD), there's is a...



08/25/2019 - 12:40 AM

 

Powerful, obscure law is basis for Trump 'order' on trade

Powerful, obscure law is basis for Trump 'order' on tradePresident Donald Trump is threatening to use the emergency authority granted by a powerful but obscure federal law to make good on his tweeted "order" to U.S. businesses to cut ties in China amid a spiraling trade war between the two nations. China's announcement Friday that it was raising tariffs on $75 billion in U.S. imports sent Trump into a rage and White House aides scrambling for a response. Trump fired off on Twitter, declaring American companies "are hereby ordered to immediately start looking for an alternative to China." He later clarified that he was threatening to make use of the International Emergency Economic Powers Act in the trade war, raising questions about the wisdom and propriety of making the 1977 act used to target rogue regimes, terrorists and drug traffickers the newest weapon in the clash between the world's largest economies.



08/25/2019 - 12:38 AM

 

Why Refex Industries Limited’s (NSE:REFEX) Return On Capital Employed Is Impressive

Why Refex Industries Limited’s (NSE:REFEX) Return On Capital Employed Is ImpressiveToday we'll look at Refex Industries Limited (NSE:REFEX) and reflect on its potential as an investment. Specifically...



08/25/2019 - 12:30 AM

 

Iranian oil tanker pursued by US says it is going to Turkey

Iranian oil tanker pursued by US says it is going to TurkeyAn Iranian-flagged oil tanker pursued by the U.S. amid heightened tensions between Tehran and Washington changed its listed destination to a port in Turkey after Greece said it wouldn't risk its relations with America by aiding it. The crew of the oil tanker Adrian Darya 1, formerly known as the Grace 1, on Saturday updated its listed destination in its Automatic Identification System to Mersin, Turkey, a port city in the country's south and home to an oil terminal.



08/25/2019 - 12:21 AM

 

Should You Be Tempted To Sell Prism Johnson Limited (NSE:PRSMJOHNSN) Because Of Its P/E Ratio?

Should You Be Tempted To Sell Prism Johnson Limited (NSE:PRSMJOHNSN) Because Of Its P/E Ratio?This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...



08/25/2019 - 12:20 AM

 

China to fight back against U.S. tariff move: People's Daily

China to fight back against U.S. tariff move: People's DailyChina will fight back against the latest U.S. step to increase tariffs on Chinese goods, the ruling Communist Party's People's Daily said on Sunday amid an escalating trade war between the world's two largest economies. "China is confident that it will follow its own path and do its own things well, and will never waver in its stand on countering any provocations by the U.S. side," the newspaper said in a commentary. U.S. politicians, seeking to hamper China's economic development, still want to use the tactics of exerting maximum pressure on China that has achieved few results, the paper said.



08/25/2019 - 12:20 AM

 

Should Gujarat Gas (NSE:GUJGAS) Be Disappointed With Their 40% Profit?

Should Gujarat Gas (NSE:GUJGAS) Be Disappointed With Their 40% Profit?One simple way to benefit from the stock market is to buy an index fund. But if you choose individual stocks with...



08/25/2019 - 12:11 AM

 

Why Emmbi Industries Limited (NSE:EMMBI) Should Be In Your Dividend Portfolio

Why Emmbi Industries Limited (NSE:EMMBI) Should Be In Your Dividend PortfolioIs Emmbi Industries Limited (NSE:EMMBI) a good dividend stock? How can we tell? Dividend paying companies with growing...



08/25/2019 - 12:01 AM

 

Germany in Uproar as Negative Rates Threaten Saving Obsession

Germany in Uproar as Negative Rates Threaten Saving Obsession(Bloomberg) -- Most Germans live by the credo that saving is a virtue, but the European Central Bank’s negative interest rates risk making a mockery of the national obsession, prompting politicians to seek ways to insulate thrifty citizens and keep the burden on the country’s beleaguered banks.Finance Minister Olaf Scholz says he’ll look into whether it’s possible to prevent German banks from charging most retail-banking clients for deposits, after such a measure was proposed by the leader of Bavaria. Lenders have rejected the idea, saying bans don’t ultimately help clients and could even destabilize financial markets.Germany’s overcrowded banking industry has long contended with sub-par profitability, but after five years of negative rates, lenders are running out of ways to offset the hit to earnings. With the country gearing up for regional elections next month, the ECB is an easy target for a country known for its risk-averse attitude to money and its habit of hording savings in checking accounts. At 2.35 trillion euros ($2.6 trillion), no other country in the euro area has a larger pile of retail deposits.Germany’s citizens also save far more of their disposable income than most other Europeans. The country’s savings rate was around 10% in 2017, almost twice the euro-area average, according to Deutsche Bank AG. On average, Germans held more than 40% of their financial assets in the form of bank deposits in 2018.Negative rates, which mean deposits decline over time rather than increase, “would be bad for all savers,” said Juergen Dengel, a 40-year-old civil servant from Bonn. If negative rates were introduced at his bank, he would consider withdrawing his money and using it to build a home -- even if that meant going into debt.“This is a total political football,” said Klaus Fleischer, a professor specializing in finance at the Munich University of Applied Sciences. “People love to hear someone standing up for them when their savings melt away.”Not everyone’s in favor of outlawing deposit charges, though. “A ban on negative rates might be attractive for savers, but then we have to also think of how we’d support unprofitable but systemically-relevant banks,” said Ingrid Arndt-Brauer, a lawmaker for the Social Democratic Party, Angela Merkel’s junior coalition partner.The ECB itself is considering ways to relieve the burden of negative rates on banks.Double WhammyNegative rates are a double whammy for lenders. Euro-area banks pay more than 7 billion euros a year to deposit funds overnight with their central bank, while at the same time their income from lending is eroded. That has helped push the share prices of many European lenders to record lows and has left Germany’s Deutsche Bank and Commerzbank AG reeling from falling revenue and shrinking profitability.Banks across Europe already pass on negative rates to corporate clients and aren’t ruling out doing the same to retail customers. In Germany, the issue has exploded onto the front pages of the country’s largest tabloid, with Bavarian Premier Markus Soeder even calling for a ban on deposits of up to 100,000 euros.“These suggestions show how far the undesired side effects of the ECB’s negative rates stretch,” Germany’s banking lobby said in a statement, referring to the central bank’s deposit rate of minus 0.4%. Still, banks cannot ignore the market as a whole when setting their conditions -- even when rates fall below zero, the group said.Some German retail banks already charge customers for holding as little as 100,000 euros in deposit accounts, though they have have yet to extend the policy to the bulk of their customers.Savings ShopperFabian Rodenbach, a 40-year-old teacher from Cologne, already shops around for the best rates. “For years now, I have also been putting my money into savings accounts in other European countries,” he said.Mittelbrandenburgische Sparkasse said it spent 3.65 million euros last year to park funds at the central bank and other lenders. At the same time, the company collected only 840,0000 euros from corporate customers and municipalities by charging a negative interest rate of 0.4% on deposits of more than 2.5 million euros.Any step to limit banks’ options to deal with negative rates would mark an escalation in tensions between the ECB and parts of the German political establishment, which have long criticized the central bank’s loose monetary policy. In 2016, then-Finance Minister Wolfgang Schaeuble, who currently presides over the Bundestag, pinned some blame for the rise of the populist Alternative for Germany party on the ECB.It’s far from clear whether the ban that Soeder suggested would be possible to implement, said Fleischer, the professor in Munich. Scholz said the legality of such a measure would be among the first things his ministry will examine.\--With assistance from Piotr Skolimowski.To contact the reporters on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net;Stephan Kahl in Frankfurt at skahl@bloomberg.net;Birgit Jennen in Berlin at bjennen1@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, ;Daniel Schaefer at dschaefer36@bloomberg.net, Andrew Blackman, Chris ReiterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



08/25/2019 - 12:00 AM

 

Pimco Sticks With $500 Billion Danish Market as Returns Plunge

Pimco Sticks With $500 Billion Danish Market as Returns Plunge(Bloomberg) -- Never before have interest rates in the world’s biggest covered-bond market been this low. And rarely has investor demand for the debt been so high.Pacific Investment Management Co. is among investors embracing Danish mortgage-backed covered bonds, even as negative interest rates mean investors face built-in losses on some bonds. Data provided by Danske Bank, the country’s biggest lender, show issuers are offering up to six times as many fixed-rate bonds a day as during a more normal cycle.Given the intense issuance, “normally you would see a spread widening,” said Jens Peter Sorensen, chief analyst at Danske Markets in Copenhagen. Instead, investors are comfortably absorbing the much bigger issuance.The development is remarkable as interest rates on the bonds keep dropping. This month, Jyske Bank made history when it started offering a 10-year callable mortgage bond with a coupon of minus 0.5%. Nordea Bank’s Danish mortgage arm is offering 20-year bonds at 0%, and has laid the groundwork to sell 30-year bonds at negative rates. But investors have yet to balk.“We like the asset class,” said Peder Beck-Friis, a portfolio manager and economist at Pimco in London. “We are overweight, as we have been for a long time. And that certainly hasn’t changed now that some of them have turned negative in terms of yield.”Testing the LimitInvestors in Denmark’s $500 billion mortgage-bond market are proving more loyal than their counterparts in the German government debt market. A recent auction of 30-year bunds drew thin demand, with the negative yield seeming to deter potential buyers. And with the longest government bonds from top-rated European sovereigns trading at negative yields, the slightly higher return that Danish mortgage bonds still offer makes all the difference.The bonds are “a triple A rated high quality asset with fairly good liquidity,” Beck-Friis at Pimco said.“Given that profile, it actually offers a very good return,” he said. “So I don’t think there’s anything special about the zero. As an investor you are looking for the highest returns given risk profile. The level of that may shift over time but ultimately you need to place your money somewhere.”Nykredit Realkredit, Denmark’s biggest mortgage bond issuer, says a lot of demand for the debt is from foreign investors. But domestic buyers are also beefing up their holdings.David Hellemann, chief financial officer at Nykredit, says investors are drawn to the “safe haven” that the bonds provide. “A strong Danish economy, no unemployment, so it’s a stable market. You don’t see any losses. It’s a well-functioning model.”Sorensen at Danske says demand has been particularly high in recent weeks, as investors look for somewhere safe amid worries about trade tensions, Brexit and the risk of a global recession. According to his estimates, lenders are offering as much as 3 billion kroner ($446 million) in callable bonds each day. That compares with normal daily issuance of 500 million kroner to 750 million kroner.The Mechanics of Denmark’s Mortgage Market:Mortgage lenders act like brokers, selling bonds on behalf of borrowers and passing through interest rate changes. When investor demand for a security sends it above par, banks can’t issue the bond any longer and open a new series at a lower coupon.Persistent investor demand could drive coupons on Denmark’s mortgage bonds even lower. The big question is whether rates on 30-year bonds will go negative.According to Sorensen at Danske, lenders have a few options before resorting to negative rates on the longest mortgage bonds. These include offering interest-only products, which typically sell for less. Banks could also start cutting coupons in smaller steps than the half-percentage-point increments that have been traditional so far.“We still have a long way to go on the 30-year before we get a negative coupon,” Sorensen said.To contact the reporters on this story: Frances Schwartzkopff in Copenhagen at fschwartzko1@bloomberg.net;Rafaela Lindeberg in Stockholm at rlindeberg@bloomberg.netTo contact the editors responsible for this story: Tasneem Hanfi Brögger at tbrogger@bloomberg.net;Jonas Bergman at jbergman@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



08/25/2019 - 12:00 AM

 

Germany in Uproar as Negative Rates Threaten Saving Obsession

Germany in Uproar as Negative Rates Threaten Saving Obsession(Bloomberg) -- Most Germans live by the credo that saving is a virtue, but the European Central Bank’s negative interest rates risk making a mockery of the national obsession, prompting politicians to seek ways to insulate thrifty citizens and keep the burden on the country’s beleaguered banks.Finance Minister Olaf Scholz says he’ll look into whether it’s possible to prevent German banks from charging most retail-banking clients for deposits, after such a measure was proposed by the leader of Bavaria. Lenders have rejected the idea, saying bans don’t ultimately help clients and could even destabilize financial markets.Germany’s overcrowded banking industry has long contended with sub-par profitability, but after five years of negative rates, lenders are running out of ways to offset the hit to earnings. With the country gearing up for regional elections next month, the ECB is an easy target for a country known for its risk-averse attitude to money and its habit of hording savings in checking accounts. At 2.35 trillion euros ($2.6 trillion), no other country in the euro area has a larger pile of retail deposits.Germany’s citizens also save far more of their disposable income than most other Europeans. The country’s savings rate was around 10% in 2017, almost twice the euro-area average, according to Deutsche Bank AG. On average, Germans held more than 40% of their financial assets in the form of bank deposits in 2018.Negative rates, which mean deposits decline over time rather than increase, “would be bad for all savers,” said Juergen Dengel, a 40-year-old civil servant from Bonn. If negative rates were introduced at his bank, he would consider withdrawing his money and using it to build a home -- even if that meant going into debt.“This is a total political football,” said Klaus Fleischer, a professor specializing in finance at the Munich University of Applied Sciences. “People love to hear someone standing up for them when their savings melt away.”Not everyone’s in favor of outlawing deposit charges, though. “A ban on negative rates might be attractive for savers, but then we have to also think of how we’d support unprofitable but systemically-relevant banks,” said Ingrid Arndt-Brauer, a lawmaker for the Social Democratic Party, Angela Merkel’s junior coalition partner.The ECB itself is considering ways to relieve the burden of negative rates on banks.Double WhammyNegative rates are a double whammy for lenders. Euro-area banks pay more than 7 billion euros a year to deposit funds overnight with their central bank, while at the same time their income from lending is eroded. That has helped push the share prices of many European lenders to record lows and has left Germany’s Deutsche Bank and Commerzbank AG reeling from falling revenue and shrinking profitability.Banks across Europe already pass on negative rates to corporate clients and aren’t ruling out doing the same to retail customers. In Germany, the issue has exploded onto the front pages of the country’s largest tabloid, with Bavarian Premier Markus Soeder even calling for a ban on deposits of up to 100,000 euros.“These suggestions show how far the undesired side effects of the ECB’s negative rates stretch,” Germany’s banking lobby said in a statement, referring to the central bank’s deposit rate of minus 0.4%. Still, banks cannot ignore the market as a whole when setting their conditions -- even when rates fall below zero, the group said.Some German retail banks already charge customers for holding as little as 100,000 euros in deposit accounts, though they have have yet to extend the policy to the bulk of their customers.Savings ShopperFabian Rodenbach, a 40-year-old teacher from Cologne, already shops around for the best rates. “For years now, I have also been putting my money into savings accounts in other European countries,” he said.Mittelbrandenburgische Sparkasse said it spent 3.65 million euros last year to park funds at the central bank and other lenders. At the same time, the company collected only 840,0000 euros from corporate customers and municipalities by charging a negative interest rate of 0.4% on deposits of more than 2.5 million euros.Any step to limit banks’ options to deal with negative rates would mark an escalation in tensions between the ECB and parts of the German political establishment, which have long criticized the central bank’s loose monetary policy. In 2016, then-Finance Minister Wolfgang Schaeuble, who currently presides over the Bundestag, pinned some blame for the rise of the populist Alternative for Germany party on the ECB.It’s far from clear whether the ban that Soeder suggested would be possible to implement, said Fleischer, the professor in Munich. Scholz said the legality of such a measure would be among the first things his ministry will examine.\--With assistance from Piotr Skolimowski.To contact the reporters on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net;Stephan Kahl in Frankfurt at skahl@bloomberg.net;Birgit Jennen in Berlin at bjennen1@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, ;Daniel Schaefer at dschaefer36@bloomberg.net, Andrew Blackman, Chris ReiterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



08/25/2019 - 12:00 AM

 

Israeli jets hit targets in Syria to prevent Iranian drone attack: army

Israeli jets hit targets in Syria to prevent Iranian drone attack: armyThe Israeli air force struck in Syria to prevent an Iranian force from launching an attack on the Jewish state with drones armed with explosives, the army said Sunday. While Israel operates regularly in Syria, it rarely acknowledges its actions so swiftly, with Prime Minister Benjamin Netanyahu warning arch-foe Iran it had no immunity from his state's military.



08/24/2019 - 11:59 PM

 

Why Panama Petrochem Limited’s (NSE:PANAMAPET) Return On Capital Employed Is Impressive

Why Panama Petrochem Limited’s (NSE:PANAMAPET) Return On Capital Employed Is ImpressiveToday we are going to look at Panama Petrochem Limited (NSE:PANAMAPET) to see whether it might be an attractive...



08/24/2019 - 11:52 PM

 

Investors Who Bought Dynemic Products (NSE:DYNPRO) Shares A Year Ago Are Now Down 20%

Investors Who Bought Dynemic Products (NSE:DYNPRO) Shares A Year Ago Are Now Down 20%Dynemic Products Limited (NSE:DYNPRO) shareholders should be happy to see the share price up 14% in the last quarter...



08/24/2019 - 11:42 PM

 

Tropical Storm Dorian forms in the Atlantic with sustained winds of 40 mph

Tropical Storm Dorian forms in the Atlantic with sustained winds of 40 mphTropical Storm Dorian is 635 miles east-southeast of Barbados. Maximum sustained winds were clocked at 40 mph.



08/24/2019 - 11:38 PM

 

How Much Are Mold-Tek Technologies Limited (NSE:MOLDTEK) Insiders Spending On Buying Shares?

How Much Are Mold-Tek Technologies Limited (NSE:MOLDTEK) Insiders Spending On Buying Shares?It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...



08/24/2019 - 11:33 PM

 

Fed's Mester sees downside risk from escalating trade war

Fed's Mester sees downside risk from escalating trade warCleveland Federal Reserve President Loretta Mester said on Saturday she sees "big downside risk" from rising trade uncertainty, and will be watching how businesses and consumers react ahead of the U.S. central bank's next policy meeting. Mester, who opposed the Fed's interest rate cut last month, spoke a day after the U.S.-China trade war escalated sharply, with Beijing and Washington slapping additional tariffs on each other's goods and President Donald Trump calling on U.S. companies to exit China. Whether trade and other policy moves will knock a U.S. economy chugging along at an expected 2% annual growth rate remains to be seen, Mester told Reuters on the sidelines of the Fed's annual central banking conference in Jackson Hole, Wyoming.



08/24/2019 - 11:27 PM

 

Why Bharat Forge Limited’s (NSE:BHARATFORG) Return On Capital Employed Is Impressive

Why Bharat Forge Limited’s (NSE:BHARATFORG) Return On Capital Employed Is ImpressiveToday we'll look at Bharat Forge Limited (NSE:BHARATFORG) and reflect on its potential as an investment. In...



08/24/2019 - 11:23 PM

 

Next Bank of England chief must be independent and 'first class' - PM Johnson

Next Bank of England chief must be independent and 'first class' - PM JohnsonThe next governor of the Bank of England has to be someone who is independent and "first class in every respect", British Prime Minister Boris Johnson said on Saturday, declining to answer on whether the successful candidate had to be a Brexit supporter. "The next Bank of England governor will somebody who is absolutely first class in every respect, and who is independent - those are the two most important qualifications," Johnson told reporters on his way to a G7 summit in France. Current BoE governor Mark Carney is due to stand down at the end of January 2020.



08/24/2019 - 11:22 PM

 

Redington (India) Limited (NSE:REDINGTON) Has Got What It Takes To Be An Attractive Dividend Stock

Redington (India) Limited (NSE:REDINGTON) Has Got What It Takes To Be An Attractive Dividend StockToday we'll take a closer look at Redington (India) Limited (NSE:REDINGTON) from a dividend investor's perspective...



08/24/2019 - 11:13 PM

 

Trade and economy in focus as G7 leaders get down to work

Trade and economy in focus as G7 leaders get down to workLeaders of the Group of Seven wealthy nations will discuss global trade woes at their annual summit on Sunday, likely laying bare a yawning divide between U.S. President Donald Trump and his Western allies. The G7 gathering is taking place against a backdrop of growing worries about a global economic downturn and coincides with an era of international disunity across an array of issues that have strained decades-old allegiances. Trump joined the leaders from France, Britain, Japan, Germany, Italy and Canada in the French coastal resort of Biarritz for three days of talks that kicked off on Saturday with an ambitious agenda that includes the defence of democracy, gender equality, education and climate change.



08/24/2019 - 11:10 PM

 

S.Africa rare earths mine hopes for boost from US-China feud

S.Africa rare earths mine hopes for boost from US-China feudIt's old, doesn't look like much and is located well out the way in an arid part of western South Africa. "Steenkampskraal will become a very important source of rare earths for the global industry," Trevor Blench, chairman of Steenkampskraal Holdings Limited, said during a recent tour. China produces the largest share of so-called "tech minerals", with a domestic output of 120,000 tonnes in 2018.



08/24/2019 - 11:09 PM

 

Does GMM Pfaudler (NSE:GMM) Deserve A Spot On Your Watchlist?

Does GMM Pfaudler (NSE:GMM) Deserve A Spot On Your Watchlist?Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...



08/24/2019 - 11:07 PM

 

`Safe Haven' Israel Became Hot Money Bait for Central Bank Chief

`Safe Haven' Israel Became Hot Money Bait for Central Bank Chief(Bloomberg) -- Israel’s economic transformation has turned it into an “emerging markets safe haven” that continued to absorb money from abroad despite maintaining near-zero interest rates, according to central bank Governor Amir Yaron.The inflows in recent years were a reflection of “the structural change in the fundamentals of the Israeli economy,” including the county’s declining debt burden and current-account surpluses, Yaron said in a speech at the annual retreat for central bankers from around the world in Jackson Hole, Wyoming,“In spite of having kept rates very low, Israel faced capital inflows following the U.S. rate hikes,” Yaron said in prepared remarks. “And appreciation pressures emerged -- a marked change from past patterns.”Israel has struggled to normalize its monetary policy after years of near-zero borrowing costs. As a strong currency dampened inflation this year and major central banks turned more dovish, Yaron put off a future hike and said in late July that rates won’t rise for a “long time.”Yaron cited research to demonstrate how “Israel is caught in between” policies in major economies. Unlike the period before the global financial crisis a decade ago, short maturities on Israeli government bond yields are now more correlated with Europe’s while longer tenors more closely track the U.S.“A challenge for the policy makers in markets like Israel is to deal with divergence of policies in the major blocs,” Yaron said.Another issue he raised in Jackson Hole was Israel’s weak inflation, which he said had been higher than among its peers before slowing.“Such developments make real-time assessments of whether policy makers are faced with transitory divergence or structural economic changes a challenge,” Yaron said. “While there is a wish to not be behind the curve, the uncertainty and ambiguity suggest a call for greater patience and risk aversion.”To contact the reporter on this story: Ivan Levingston in Tel Aviv at ilevingston@bloomberg.netTo contact the editors responsible for this story: Lin Noueihed at lnoueihed@bloomberg.net, Paul AbelskyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



08/24/2019 - 11:00 PM

 

`Safe Haven' Israel Became Hot Money Bait for Central Bank Chief

`Safe Haven' Israel Became Hot Money Bait for Central Bank Chief(Bloomberg) -- Israel’s economic transformation has turned it into an “emerging markets safe haven” that continued to absorb money from abroad despite maintaining near-zero interest rates, according to central bank Governor Amir Yaron.The inflows in recent years were a reflection of “the structural change in the fundamentals of the Israeli economy,” including the county’s declining debt burden and current-account surpluses, Yaron said in a speech at the annual retreat for central bankers from around the world in Jackson Hole, Wyoming,“In spite of having kept rates very low, Israel faced capital inflows following the U.S. rate hikes,” Yaron said in prepared remarks. “And appreciation pressures emerged -- a marked change from past patterns.”Israel has struggled to normalize its monetary policy after years of near-zero borrowing costs. As a strong currency dampened inflation this year and major central banks turned more dovish, Yaron put off a future hike and said in late July that rates won’t rise for a “long time.”Yaron cited research to demonstrate how “Israel is caught in between” policies in major economies. Unlike the period before the global financial crisis a decade ago, short maturities on Israeli government bond yields are now more correlated with Europe’s while longer tenors more closely track the U.S.“A challenge for the policy makers in markets like Israel is to deal with divergence of policies in the major blocs,” Yaron said.Another issue he raised in Jackson Hole was Israel’s weak inflation, which he said had been higher than among its peers before slowing.“Such developments make real-time assessments of whether policy makers are faced with transitory divergence or structural economic changes a challenge,” Yaron said. “While there is a wish to not be behind the curve, the uncertainty and ambiguity suggest a call for greater patience and risk aversion.”To contact the reporter on this story: Ivan Levingston in Tel Aviv at ilevingston@bloomberg.netTo contact the editors responsible for this story: Lin Noueihed at lnoueihed@bloomberg.net, Paul AbelskyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



08/24/2019 - 11:00 PM

 

IMF meets with Argentina's Treasury minister and central bank president

IMF meets with Argentina's Treasury minister and central bank presidentTop Argentine finance officials met with a team from the International Monetary Fund on Saturday, the Treasury Ministry said, while tens of thousands of supporters of President Mauricio Macri gathered just outside the presidential palace, waving national flags and cheering. The IMF officials met with Treasury Minister Hernan Lacunza, who was just installed in that position on Tuesday, and central bank President Guido Sandleris, according to the Treasury Ministry statement. The IMF team on Friday said it planned to "exchange views" over the weekend with the economic advisers to Argentina's top presidential contenders in the October election, the incumbent Macri and opposition candidate Alberto Fernandez.



08/24/2019 - 10:55 PM

 

Should You Be Worried About Insider Transactions At KEI Industries Limited (NSE:KEI)?

Should You Be Worried About Insider Transactions At KEI Industries Limited (NSE:KEI)?We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On...



08/24/2019 - 10:54 PM

 

Police Arrest 29 as Protesters Cause Damage: Hong Kong Update

Police Arrest 29 as Protesters Cause Damage: Hong Kong Update(Bloomberg) -- Violence returned to Hong Kong’s ongoing protests as police arrested 29 people on Saturday after demonstrators occupied roads, set up barricades and hurled projectiles in the 12th week of unrest in the Asian financial center.At least two more rallies are planned for Sunday, including one organized by relatives of police officers, who have been criticized for using excessive force to quell protests. Hong Kong Chief Executive Carrie Lam held a meeting on Saturday with former officials and other prominent people to find a way out of the impasse that has rocked the former British colony.Demonstrators are looking to maintain momentum after large but peaceful protests last weekend temporarily broke a pattern of tear gas and police clashes. They formed a human chain across the city on Friday, while a plan to disrupt airport transportation services on Saturday wasn’t successful. Historic mass marches opposing legislation easing extraditions to China began peacefully in June, and have since widened into a broader movement against Beijing’s increasing grip.Key Developments:Police arrested more than two dozen protesters on SaturdayChief Executive Lam seeks to build a dialogue platform to address roots of discontentU.K. consulate staffer Simon Cheng was released by China on Saturday after more than two weeks of detention Here’s the latest:Police condemn ‘radical’ behavior (Sunday, 3:02 a.m.)Police said “radical protesters” in Saturday’s clashes used electric saws to damage a number of smart lampposts, and hurled hard objects, bricks and petrol bombs at officers. They arrested 19 men and 10 women, aged between 17 and 52, for offenses including the possession of offensive weapons and assaulting police officers, the police said in a statement.MTR’s biggest challenge (8 p.m.)MTR Corp., operator of Hong Kong’s rail network, suspended service on parts of its Kwun Tong line on Saturday afternoon because of protests in the area.Operations Director Adi Lau Tin-shing said the current situation was the company’s biggest challenge in its 40 years of operation and that the station closures were an unavoidable decision taken on the grounds of safety.Bricks and bamboo poles (4:20 p.m.)Police fired tear gas to break up demonstrators blocking a road. Protesters were seen breaking bricks into smaller pieces and using bamboo poles to keep police from getting close to a barricade they erected. Elsewhere, video footage showed a so-called smart lamppost that was toppled and with notes declaring “no totalitarian surveillance” pasted on it.Police said a large group of violent protesters occupied two roads near a police station and “started fires and hurled bricks at police officers.” After repeated warnings, police fired tear gas and used minimum force to disperse the crowd, according to a police statement.Protesters split up and some regathered in the neighborhood of Wong Tai Sin, the scene of clashes earlier this month. Police fired tear gas and made arrests after the demonstrators blocked off roads and disrupted traffic.Lam seeks dialogue platform (3:10 p.m.)About 30 people were invited to the meeting organized by Lam in Government House, including ex-transport chief Anthony Cheung and Cardinal John Tong, the former bishop of Hong Kong, RTHK reported. Lam said the meeting was not a “dialogue platform” but a gathering to share ideas on how to build dialogue.“I do not expect dialogue to easily resolve the deadlock, stop demonstrations, or to provide solutions to problems,” she said in a Facebook post. “But continuing to fight is not the way out.”Cathay issues warning (3.30 p.m.)Cathay Pacific Airways Ltd. said it will not tolerate employees supporting or taking part in illegal protests ahead of “planned activities” by the Hong Kong Confederation of Trade Unions on Aug. 26.The Airport Authority Hong Kong obtained a High Court order to extend an interim injunction granted on Aug. 13 banning protesters from unlawfully obstructing access to the airport. That injunction covers Cathay City, “which is the operational hub for our global operations and as such includes facilities that are absolutely critical to our flight operations,” Cathay said in Saturday’s statement.Operations at the city’s airport were disrupted earlier this month when protesters occupied the building.Kwun Tong march (3 p.m.)Thousands converged on the streets of Kowloon’s Kwun Tong area in a march approved by police. Many of the protesters carried umbrellas under the baking sun, with a Hong Kong Observatory “very hot warning” in place and the Air Pollution Index at “very unhealthy” levels in almost all areas of the city.Some protesters set up a roadblock close to the Ngau Tau Kok police station, where a large group of riot police stood guard. The officers kept their distance from protesters and retreated at one stage to create more distance between themselves and the crowd of demonstrators.U.K. Consulate Staffer Freed (10:39 a.m.)Chinese police released a U.K. consulate staffer from Hong Kong after more than two weeks in detention. Simon Cheng was set free on Saturday after he was held for violating the Public Security Administration Punishment Law, police in the southern Chinese city of Shenzhen said in a post on the Weibo social media platform. He failed to return home to Hong Kong from an Aug. 8 meeting in Shenzhen.Airport Protest Fizzles (Saturday, 9:26 a.m.)An airport transportation disruption early Saturday morning fizzled with a low turnout.A Hong Kong court extended the Airport Authority’s court order barring protests, broadcaster Cable TV reported Friday. The authority obtained the temporary injunction last week to stop protesters from “unlawfully and willfully” obstructing or interfering with the proper use of the airport, following two straight days of sit-ins by thousands of protesters that shut down regular services and left frustrated passengers stranded and delayed.Upcoming ScheduleThe weekend will conclude with Sunday protests in the Tsuen Wan and Kwai Chung areas, starting mid-afternoon. Relatives of police also plan a march to the official residence of Chief Executive Lam in support of local law enforcement.\--With assistance from Iain Marlow, Justin Chin, Annie Lee, Aaron Mc Nicholas and Natalie Lung.To contact the reporters on this story: Sheryl Tian Tong Lee in Hong Kong at slee1905@bloomberg.net;Aaron Mc Nicholas in Hong Kong at amcnicholas2@bloomberg.net;Venus Feng in Hong Kong at vfeng7@bloomberg.netTo contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, ;Brendan Scott at bscott66@bloomberg.net, Andrew JanesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



08/24/2019 - 10:52 PM

 

A Look At The Fair Value Of Delta Corp Limited (NSE:DELTACORP)

A Look At The Fair Value Of Delta Corp Limited (NSE:DELTACORP)Does the August share price for Delta Corp Limited (NSE:DELTACORP) reflect what it's really worth? Today, we will...



08/24/2019 - 10:50 PM

 

Does Shakti Pumps (India) (NSE:SHAKTIPUMP) Have A Healthy Balance Sheet?

Does Shakti Pumps (India) (NSE:SHAKTIPUMP) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...



08/24/2019 - 10:47 PM

 

These Fundamentals Make Everest Industries Limited (NSE:EVERESTIND) Truly Worth Looking At

These Fundamentals Make Everest Industries Limited (NSE:EVERESTIND) Truly Worth Looking AtEverest Industries Limited (NSE:EVERESTIND) is a stock with outstanding fundamental characteristics. When we build an...



08/24/2019 - 10:42 PM

 

Calculating The Intrinsic Value Of APL Apollo Tubes Limited (NSE:APLAPOLLO)

Calculating The Intrinsic Value Of APL Apollo Tubes Limited (NSE:APLAPOLLO)Today we'll do a simple run through of a valuation method used to estimate the attractiveness of APL Apollo Tubes...



08/24/2019 - 10:39 PM

 

Kingdee International Software Group Company Limited (HKG:268) Delivered A Weaker ROE Than Its Industry

Kingdee International Software Group Company Limited (HKG:268) Delivered A Weaker ROE Than Its IndustryMany investors are still learning about the various metrics that can be useful when analysing a stock. This article is...



08/24/2019 - 10:37 PM

 

Would JK Tyre & Industries Limited (NSE:JKTYRE) Be Valuable To Income Investors?

Would JK Tyre & Industries Limited (NSE:JKTYRE) Be Valuable To Income Investors?Could JK Tyre & Industries Limited (NSE:JKTYRE) be an attractive dividend share to own for the long haul? Investors...



08/24/2019 - 10:31 PM

 

Finding homes in ruin, destitute Iraqis return to camps

Finding homes in ruin, destitute Iraqis return to campsAl-Khazer (Iraq) (AFP) - Her tent is bare, she's unemployed and her family relies on food donations. The northern city was freed from the Islamic State jihadist group's grip more than two years ago, but tens of thousands of Iraqis who fled Mosul into sprawling displacement camps have yet to move back home. "When I went back to Mosul I didn't find my house.



08/24/2019 - 10:30 PM

 

Sandhar Technologies Limited (NSE:SANDHAR) Goes Ex-Dividend In 3 Days

Sandhar Technologies Limited (NSE:SANDHAR) Goes Ex-Dividend In 3 DaysIt looks like Sandhar Technologies Limited (NSE:SANDHAR) is about to go ex-dividend in the next 3 days. You will need...



08/24/2019 - 10:27 PM

 

Ramkrishna Forgings Limited (NSE:RKFORGE) Looks Interesting, And It's About To Pay A Dividend

Ramkrishna Forgings Limited (NSE:RKFORGE) Looks Interesting, And It's About To Pay A DividendRamkrishna Forgings Limited (NSE:RKFORGE) is about to trade ex-dividend in the next 3 days. You will need to purchase...



08/24/2019 - 10:22 PM

 

The Peria Karamalai Tea and Produce Company Limited (NSE:PKTEA) Stock Goes Ex-Dividend In Just 3 Days

The Peria Karamalai Tea and Produce Company Limited (NSE:PKTEA) Stock Goes Ex-Dividend In Just 3 DaysRegular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see The Peria...



08/24/2019 - 10:19 PM

 

PI Industries Limited (NSE:PIIND) Is About To Go Ex-Dividend, And It Pays A 0.1% Yield

PI Industries Limited (NSE:PIIND) Is About To Go Ex-Dividend, And It Pays A 0.1% YieldPI Industries Limited (NSE:PIIND) stock is about to trade ex-dividend in 3 days time. If you purchase the stock on or...



08/24/2019 - 10:14 PM

 

Mahanagar Gas Limited (NSE:MGL) Looks Interesting, And It's About To Pay A Dividend

Mahanagar Gas Limited (NSE:MGL) Looks Interesting, And It's About To Pay A DividendRegular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Mahanagar...



08/24/2019 - 10:11 PM

 

Jindal Saw Limited (NSE:JINDALSAW) Looks Interesting, And It's About To Pay A Dividend

Jindal Saw Limited (NSE:JINDALSAW) Looks Interesting, And It's About To Pay A DividendIt looks like Jindal Saw Limited (NSE:JINDALSAW) is about to go ex-dividend in the next 3 days. Ex-dividend means that...



08/24/2019 - 10:07 PM

 

Genus Power Infrastructures Limited (NSE:GENUSPOWER) Stock Goes Ex-Dividend In Just 3 Days

Genus Power Infrastructures Limited (NSE:GENUSPOWER) Stock Goes Ex-Dividend In Just 3 DaysGenus Power Infrastructures Limited (NSE:GENUSPOWER) is about to trade ex-dividend in the next 3 days. Investors can...



08/24/2019 - 10:01 PM

 

Trade War Back With a Vengeance After Jackson Hole: Economy Week

Trade War Back With a Vengeance After Jackson Hole: Economy Week(Bloomberg) -- The escalating trade war means investors won’t have long to chew over the outcome of weekend meetings of central bankers in Wyoming and world leaders in France.Friday saw the U.S. and China move further away from a deal to resolve frictions as China introduced plans for fresh levies and President Donald Trump responded.The tit-for-tat thwarted the hopes of investors that President Donald Trump will grant some sort of reprieve ahead of the Sept. 1 deadline for tariffs on about $110 billion of Chinese goods.Here’s our weekly rundown of other key economic events and click here for more from Bloomberg Economics:The U.S. and CanadaFederal Reserve officials may take some time off after spending the weekend at their annual confab in Jackson Hole, Wyoming, at which Chairman Jerome Powell signaled room to cut interest rates again in September. Durable goods data is released on Monday and other highlights for the week includes reports on consumer confidence on Tuesday and the latest snapshot of second quarter gross domestic product on Thursday and University of Michigan sentiment on Friday. Thursday’s trade data will give a sense of international commerce amid the trade war.In Canada, second-quarter GDP numbers are out on Friday, which should inform how quickly the Bank of Canada joins in on global trend in monetary easing.For more, read Bloomberg Economics’ full Week Ahead for the U.S.Europe, Middle East and AfricaWith Germany on the possible brink of recession, Monday sees the release of the latest Ifo survey, which will provide insight into the latest thinking of German executives. The median of forecasts compiled by Bloomberg is for the gauge on business climate to fall to 95 from 95.7. The next day sees the government break down output data for the second quarter.Euro-area economic sentiment and inflation data at the end of the week are predicted to remain tepid. Hungary is predicted to leave interest rates unchanged on Tuesday.Israel’s central bank may hold its base rate on Wednesday, but could signal plans to start cutting for the first time in more than four years as a strengthening shekel damps already low inflation. Botswana will probably also hold its key rate on Thursday after inflation started picking from a record low in April. Zambia’s inflation data on Thursday could support the central bank’s projection that the rate will remain above its target band of 6% to 8% for most of the next two years, strengthening the case to continue bucking the global trend and tighten policy.For more, read Bloomberg Economics’ full Week Ahead for EMEAAsiaIndia’s central bank board is set to meet on Monday. On the agenda: a decision on how large the final dividend to the government should be after having already made an interim payout of 280 billion rupees ($3.9 billion). India’s GDP report on Friday may encourage further easing.After its surprise rate cut in July, the Bank of Korea will meet again to set monetary policy on Friday. And on the data front, China’s industrial profit numbers on Tuesday and a factory purchasing managers index on Saturday will be closely watched to see how the industrial sector is faring under the weight of sluggish growth at home and trade strains with the U.S.In Hong Kong, July trade and retail sales data will likely show the economy continues to be affected by the trade war and local protests.For more, read Bloomberg Economics’ full Week Ahead for AsiaLatin AmericaArgentina remains in the spotlight of investors as its October election nears amid fears that presidential front-runner Alberto Fernandez will try to restructure the country’s debt. Brazil may narrowly dodge recession this year, but second-quarter data due on Thursday is likely to show Latin America’s largest economy remains stalled after contracting in the first quarter.On the same day, Mexico’s central bank will publish minutes of its latest monetary policy meeting when it decided cut rates for the first time in five years. The account, combined with a quarterly inflation report due on Wednesday, will help investors gauge how much lower rates can go in Mexico.For more, read Bloomberg Economics’ full Week Ahead for Latin AmericaTo contact the reporter on this story: Simon Kennedy in London at skennedy4@bloomberg.netTo contact the editors responsible for this story: Stephanie Flanders at flanders@bloomberg.net, Zoe SchneeweissFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



08/24/2019 - 10:00 PM

 

Bharat Bijlee Limited (NSE:BBL) Looks Interesting, And It's About To Pay A Dividend

Bharat Bijlee Limited (NSE:BBL) Looks Interesting, And It's About To Pay A DividendSome investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...



08/24/2019 - 09:57 PM

 

 

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