Category: World
Brent at 12 year low amid concerns over China demand, Iran supply
Jan 14, 2016 (LBO) – Brent oil prices have fallen below 30 US dollars a barrel in New York for the first time in 12 years amid concerns over Chinese fuel demand and Iran fuel supply, foreign media reports said. Brent oil has dropped below 30 US dollars a barrel for the first time since […]
Pakistan PM on three-day visit to Sri Lanka
Jan 04, 2015 (LBO) – Pakistan’s Prime Minister Nawaz Sharif will be in Sri Lanka this week on a three-day visit for bilateral talks with the government and to launch a single country exhibition. Among topics to be discussed include the existing Free-Trade Agreement and cooperation in several areas including health, science and technology, money […]
Surprise visit signals possible thawing of India-Pakistan relations
Dec 28, 2015 (LBO) – A surprise visit on Christmas Day between the leaders of India and Pakistan could be a sign of thawing relations between the two nuclear-armed countries.Indian Prime Minister Narendra Modi’s trip to meet his Pakistani counterpart Nawaz Sharif is the first visit to Pakistan by an Indian prime minister in almost […]
South Korea issues its first yuan-denominated sovereign bonds
Dec 16, 2015 (LBO) – The South Korean government has issued its first ever yuan-denominated sovereign bonds in China’s onshore bond market. This sovereign bond issue is expected to contribute to diversifying the currency composition of Korea’s foreign exchange reserves and further China’s efforts to open its capital markets to the world.“The bond issuance was […]
China, US Rates Pressures Build for APAC Banks in 2016
Dec 16, 2015 (LBO) – Banking sectors within the Asia-Pacific (APAC) region are likely to face a more challenging year ahead as financial systems adjust to slowing growth in China and the prospect of higher US interest rates, says Fitch Ratings in the agency’s 2016 Outlook Report for the region.Earnings and capital buffers built up in […]
Sharp China slowdown would hit global growth hard: Fitch
Dec 15, 2015 (LBO) – A sharp slowdown in China’s GDP growth rate to 2.3% during 2016-2018 would disrupt global trade and hinder growth, with significant knock-on effects for emerging markets and global corporates, according to a hypothetical study by Fitch Ratings. In turn, this would keep short-term interest rates and commodity prices lower for […]
IMF includes Yuan in reserve currency basket
Dec 01, 2015 (LBO) – The International Monetary Fund has included the Chinese yuan as a fifth currency in their basket of currencies that make up the Special Drawing Rights (SDR). Effective from October 1, 2016 the Chinese Yuan is determined to be a freely usable currency along with the US dollar, the euro, the […]
‘s yuan as reserve currency
Nov 30, 2015 (LBO) – The International Monetary Fund may soon label China’s yuan as a reserve currency that could pressure China to reform currency management and improve communication with the rest of the world.The IMF is expected to say that next year it will add the yuan to the basket of currencies that comprise […]
Security tightened in major European cities
Nov 20, 2015 (LBO) – Security has been tightened in major cities in Europe with police in Italy and Sweden looking for suspected militants and increasing security around public buildings, media reports said.Swedish police arrested a man suspected of planning an attack, while Italy’s foreign minister said St.Peter’s Basilica in Rome or the cathedral or […]
Sri Lanka on UNESCO executive board
Nov 16, 2015 (LBO) – Sri Lanka has been elected to the executive board of the United Nations Educational Scientific and Cultural Organisation (UNESCO) during the 38th General Conference in Paris, the foreign ministry said. “Sri Lanka was one of six countries that qualified to serve on the Executive Board from the Asia and Pacific Group […]
At least 127 people killed in Paris shootings, blasts
Nov 14, 2015 (LBO) – At least 127 people have been killed in gunfire and blasts including a possible suicide bombing in Paris, officials said. Terrorists armed with AK-47s and some reportedly with bombs strapped to them attacked locations throughout the French capital and at a stadium where a soccer match was being played. Five […]
Saudi Arabia to go to global bond market for first time
Nov 12, 2015 (LBO) – Saudi Arabia will go to international bond markets for the first time next year due to low oil prices cramping government revenues, a media report said. Debt levels could increase to as much as 50 percent of GDP in five years from 6.75 percent this year with this borrowing programme, […]