Monday, December 25th, 2017

 

Japan’s SMFG keen to raise stake in Indonesian bank BTPN to majority

TOKYO, Dec 25 — Sumitomo Mitsui Financial Group (SMFG) is keen to raise its stake to a majority in Indonesian lender BTPN if authorities permit, the Japanese bank’s CEO said, as it aims to roll out full-scale banking operations in emerging…


Iraq’s Oil Minister says he’s optimistic crude prices will rise

BAGHDAD, Dec 25 — Iraq’s Oil Minister Jabbar Al-Luaibi said he’s optimistic crude prices will rise in 2018, with global stockpiles falling and demand on the rise in China and India. “I am very optimistic that in the first quarter, oil…


Analysts cut iPhone X shipment forecasts, citing lukewarm demand

BEIJING, Dec 25 — Apple Inc looks like it’s having a not-so Merry Christmas. Analysts have lowered iPhone X shipment projections for the first quarter of next year, citing signs of lacklustre demand at the end of the holiday shopping season….


China’s yuan ends onshore trading session at 3-1/2-month high

SHANGHAI, Dec 25 — China’s yuan strengthened through the day in holiday-thinned trading today, reaching its highest level in three-and-a-half months against the US dollar at the official local close, following a much strengthened official…


Israel regulator seeks to ban bitcoin firms from stock exchange (VIDEO)

JERUSALEM — Israel’s markets regulator said today he will propose regulation to ban companies based on bitcoin and other digital currencies from trading on the Tel Aviv Stock Exchange (TASE). Shmuel Hauser, the chairman of the Israel…


Ineos starts testing UK’s Forties North Sea oil pipeline after repairs

LONDON, Dec 25 — Britain’s Forties oil and gas pipeline, one of the biggest in the North Sea, is being tested following repairs and full flows should resume in early January, its operator Ineos said today. The closure of the pipeline since…


Tighter North Korea fuel limits seen unlikely to hurt regime

TOKYO, Dec 25 — The United Nation’s latest sanctions on North Korea are more likely to hurt ordinary people in the isolated nation than slow Kim Jong-Un’s push to develop missiles capable of hitting the US with nuclear weapons. The UN…


BOJ says low rates hurting banks but woes won’t ease post-stimulus

TOKYO, Dec 25 — Prolonged ultra-easy monetary policy is weighing heavily on Japanese bank profits but financial institutions should not expect business conditions to brighten dramatically even after the central bank raises interest rates, a…


China needs Detroit-style bankruptcy as debt problems remain, says central bank official

BEIJING, Dec 25 — China needs to let local governments take responsibility for their finances, including allowing bankruptcies, as part of an effort to defuse their debt risks, a central bank official wrote today. Central government control of…


US dollar steady but funding costs soar ahead of year-end

TOKYO, Dec 25 — The US dollar was little changed against other major currencies today in holiday-thinned trading while the cost of swapping the yen for the US dollar jumped as banks scrambled to raise dollars for the year-end period. The US…