Monthly Archives: January 2010

Manila may issue up to $1bn in Samurai bonds

The Philippines may raise up to $1bn from a planned Samurai bond issue, up from its previous plan of $500m, if it gets favourable pricing and good demand, a senior government official said recently. “If we can raise $1bn through samurai, we will do that,” Finance Undersecretary Rosalia de Leon told reporters. “We will try…

How To Buy Real Estate in Italy in 10 Easy Steps

In 2009, Britain’s prestigious Royal Institution of Chartered Surveyors singled out Italy as one of the best places to invest in real estate, because the real estate in Italy was not undermined by cheap credit and has avoided the boom and bust seen elsewhere in Europe and the US.To quote Knight Frank, “Historically, property prices…

Oil hits new 15-month high on demand, dollar

Oil prices rose 1 percent on Monday, hitting a fresh 15-month high above $83 a barrel, supported by data showing China’s crude oil imports surged by nearly 25 percent in December and as the US dollar weakened. The prolonged cold snap in the US and Europe continued to boost demand for heating fuel, lending support…

Argentine president fires central bank chief

Argentine President Cristina Fernandez on Thursday fired the country’s central bank president, who had rejected her calls to step down for refusing to use Argentina’s foreign currency reserves to pay debt. Fernandez issued a presidential decree removing Martin Redrado from office, citing misconduct and dereliction of duties. He was replaced by Central Bank Vice President…

BofA says bonuses will rise, but no record payouts

In December the largest US bank joined others on Wall Street that repaid billions in bailout funds to the government, ending restrictions on top executives’ pay. “We had some units that had very, very good results and the compensation will reflect that,” said the spokesman, Robert Stickler. The bank pays bonuses based on the performance…

Iceland will “honour its obligations”

Iceland will “honour its obligations” over the more than $5bn owed to Britain and the Netherlands that was lost in failed savings banks, President Olafur Grimsson told reporters. The Icelandic parliament had approved a deeply unpopular bill to cover compensation already paid out by the British and Dutch governments to holders of “Icesave” accounts after…

Europe shares hit new 15-month high, banks support

European shares hit a new 15-month peak in early trading on Wednesday, led higher by financials and miners, with investors waiting for more macro-economic data later in the session for clearer market direction. At 0811 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent to 1,064.25 points, the highest since October…

Sarkozy says FX issue must be focus of global debate

Alluding to recent calls to revamp the global monetary system to reduce the dominant role of the dollar, Sarkozy said that disparities between the two currencies posed a “considerable problem.” The prospect that companies might consider relocating some of their industrial activity to regions reliant on the dollar could not be ruled out, he said…