 | Investors seen ready to lap
up proposed Qatari sukuk QATAR is planning to issue
Islamic bonds, or sukuk, for the
first time in nearly a decade, as it
seeks to take advantage of global
demand for safe havens and
sharia-compliant assets amid
market uncertainty.
Qatar has mandated banks for...
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| | Ratings
agencies
cut outlook
for Barclays |  CREDIT rating agencies turned
up the heat on Barclays Plc,
threatening to lower its credit
ratings on concerns over who
will run the bank following the
departure of Chief Executive
Bob Diamond and an uncertain
strategy.
Barclays is in turmoil following
an interest rate-rigging
scandal that led to the departures
of Diamond and Chief
Operating Officer Jerry del
Missier on Tuesday and is under
pressure from politicians and
regulators to change its culture,
possibly slimming down its
investment banking operations.
"Although this could have
potentially positive implications
over the longer term, the uncertainty
surrounding such a
change in direction is creditnegative
in the short term," said
Moody´s, which lowered... | | | China surprises
with second rate
cut in two months |  CHINA´S central bank cut
interest rates for the second
time in two months on
Thursday to bolster an economy
widely expected to record
its sixth successive slide in
growth in April-June.
China announced the rate
cut as the Bank of England
launched a third round of
monetary stimulus and the
European Central Bank cuts
its main interest rate.
Policymakers globally are trying
to combat the impact of
the euro area debt crisis on
the world economy.
China´s benchmark lending
rates will be lowered by 31
basis points to 6 percent, and
deposit rates will be cut by 25
basis points to 3 percent, the
People´s Bank of China said in
a statement on its website.
The cuts are effective from
Friday. The central bank last
cut interest rates on... | | | Volkswagen, Porsche gain on takeover pact |  SHARES in Volkswagen
jumped on Thursday after its
agreement to buy the remaining
half of sports car maker
Porsche, which will end a protracted
takeover struggle that
sparked high-profile family
feuds and investor lawsuits.
VW shares rose 5.3 percent
and Porsche SE holding company
stock was also up 1.3 percent
as of 4.55 a.m. EDT, after
the companies announced late
on Wednesday that VW would
pay 4.46 billon euros ($5.9 billion)
in cash and a single common
share to the holding company
for the 50.1 percent of
Porsche´s autos business that
it did not already own.
"VW is getting a good deal,"
said London-based Morgan
Stanley analyst Stuart
Pearson, predicting in a note
to investors that its completion
would lift VW... | |
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