Standard Chartered PLC
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HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs globally, as it seeks to drive earnings and dividend growth in the face of muted revenue.
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*Coming up: China Industrial output at 0530 GMT. The most-traded September copper contract on the Shanghai Futures Exchange climbed 0.43 percent to 53,230 yuan a tonne. "
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Carson Block, Founder of Muddy Waters Research, discusses why he believes the market is underestimating the risk in Standard Chartered's loan book.
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SHANGHAI, May 13- Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's rally. Investors and companies have been pouring funds into China in recent months, helping send the yuan to a series of record highs.
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*Dubai Group says expects to sign debt deal in weeks. DUBAI, May 9- The Dubai Group investment firm said on Thursday it expected a $10- billion restructuring of its debt within weeks, sealing the Gulf emirate's recovery from a financial crisis that brought it to the brink of default.
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*Markets confident Dubai can meet 2014-2016 payments. DUBAI, May 8- Dubai may use a wide range of strategies, from asset sales to increased bond issues and continued support from Abu Dhabi, to get through a looming period of debt repayments- but it may cause its bankers a few sleepless nights on the way.
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*China imports and exports up, helping resources stocks. *Henkel helps DAX to new all-time high. European shares are at multi-year or record highs despite weak domestic economic data, thanks in part to hopes of growth in China and the United States as well as central bank stimulus helping to support asset prices.
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*China trade data beats expectations, but scepticism lingers. *Zoomlion surges on China excavator sales improvement. HONG KONG, May 8- Shares in Hong Kong rose for a fourth session on Wednesday while mainland China markets also extended gains, buoyed by robust Chinese trade performance in April that came ahead of other economic data due this week.
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BEIJING- China's exports and imports grows more than expected in April, offering the possibility of a better outlook for the world's second-largest economy, but the figures fail to put an end to scepticism that financial manoeuvring by exporters and speculative capital inflows are masking weakness in real demand.
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Standard Chartered said on Wednesday its first quarter operating profit was likely to be slightly lower than a year ago as an increase in hiring, and wages, pushed up costs.
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and IBM China/Hong Kong Ltd news briefing to announce joint collaboration to trnsform Ucan.com into a gaming and music platform. IBM Hong Kong Office, 10/ F, PCCW Tower, Taikoo Place. -Advanced Semiconductor Manufacturing Corporation Ltd.
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*Local govt in Hubei pays off debt for steel company. Dealing with the systemic risk posed by local government debt is seen as one of the key priorities for the administration of China's new president, Xi Jinping.
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NAIROBI, May 7- Kenya's central bank cut its benchmark lending rate by 100 basis points to 8.5 percent, resuming an easing path after pausing during the elections in March. RAZIA KHAN, HEAD OF RESEARCH FOR AFRICA AT STANDARD CHARTERED.
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*Dubai has $48 bln debt to pay between 2014-16- StanChart. DUBAI, May 7- Favourable market conditions may prompt Dubai to issue another sovereign bond this year, a top official said on Tuesday, adding that the emirate was looking at alternate means to repay its debt if asset sales did not materialise.
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HSBC rises towards the top of the FTSE 100 index after posting a surge in first quarter profits, boosting rival Asian-focused bank Standard Chartered as well. HSBC's London- listed shares extend gains to trade up by 3 percent at 735 pence by 0855 GMT, adding the most points to the FTSE 100, having been up by 0.4 percent before the bank announced its Q1 results.
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MUMBAI, May 7- India's DLF Ltd is planning to sell up to 81 million shares and has mandated eight banks for the institutional placement sale, according to a term sheet seen by Reuters on Tuesday. DLF picked Bank of America-Merrill Lynch, Deutsche Bank, JPMorgan and Standard Chartered, along with CLSA, HSBC, Kotak, and UBS to handle the sale, according to the term sheet.
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*1100 Beijing Tong Ren Tang Chinese Medicine Co Ltd. *1215 China Galaxy Securities Co Ltd to hold an investor luncheon presentation of its global offering. 5/ F, Island Shangri-la. Q1 results.- South China Land Ltd Q1 results.- Sunevision Holdings Ltd Q3 results.- Zhejiang Expressway Co Ltd Q1 results.++ AGM/SGM/EGM++.
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*Rate-setting scandals in US, London triggered review in Singapore. SINGAPORE, May 7- Mukesh Kumar Chhaganlal said he tried to warn his manager at UBS AG about the "increasingly unrealistic" currency rates being set last year for the Indonesian rupiah against the dollar.
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*Rate-setting scandals in US, London triggered review in Singapore. SINGAPORE, May 7- Mukesh Kumar Chhaganlal said he tried to warn his manager at UBS AG about the "increasingly unrealistic" currency rates being set last year for the Indonesian rupiah against the dollar.
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May 6- Following are terms and conditions. of a bond priced on Monday.
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May 6- The Kingdom of Thailand is preparing to do its first fixed rate public dollar bond in the offshore market since 1997 and now plans to be a regular issuer, Chularat Suteethorn, the director general for the Public Debt Management Office told IFR in an exclusive interview.