NEW DELHI, March 20- State Bank of India's chairman said on Wednesday that putting Jet Airways into bankruptcy is the "last option" and that its lenders are making every effort to keep the airline flying. "We believe that it is in everybody's interest that Jet Airways continues to fly," SBI chairman Rajnish Kumar told reporters after a meeting with government...
*Fed chief Powell to hold press conference at 2:30 p.m. ET. The U.S. central bank is expected to keep the fed funds rate unchanged and lower the number of hikes projected for the rest of the year as it wraps up a two-day policy meeting, followed by a statement at 2 p.m. ET and a press conference by Fed Chairman Jerome Powell half an hour later. "Today's price action is...
*Poland releases robust industrial output figures. BUDAPEST, March 20- The forint set 11- month highs on Wednesday due to expectations for dovish comments from the Federal Reserve later in the day and monetary tightening by the Hungarian central bank next week. The forint traded at 312.7 against the euro at 0947 GMT, near an intraday- and 11- month high of 312.65,...
NEW DELHI, March 20- State Bank of India's head told reporters on Wednesday that putting Jet Airways into bankruptcy is the "last option" for lenders and that they are making every effort to keep the airline flying. "We believe that it is in everybody's interest that Jet Airways continues to fly," the SBI chairman, Rajnish Kumar, told reporters after a meeting with...
Christoph Schmidt, president of RWI and chair of the German Council of Economic Experts, discusses the proposed Deutsche-Commerzbank merger.
*U.S.- China trade talks hit a snag. LONDON, March 20- The dollar rose on Wednesday, attracting safe-haven bids after reports of further tension in U.S.- China trade negotiations, but its gains were slight, with caution expected from the Federal Reserve at its policy meeting later in the day. The negative impact on the dollar from the pause in the Fed's...
March 20- Saudi Arabia's stock market dropped on Wednesday as its banks fell, while most major Gulf markets also slid, mirroring global cues ahead of a decision by the U.S. Riyad Bank slipped 1.8 percent as the lender traded ex-dividend, while Saudi's largest lender National Commercial Bank shed 1 percent. The kingdom's largest food products company Savola...
TOKYO, March 20- Asian shares got off to a cautious start on Wednesday, holding close to six-month highs on hopes the U.S. MSCI's broadest index of Asia-Pacific shares outside Japan ticked down 0.1 percent from a six-month high touched the previous day. Since the beginning of year, Fed Chairman Jerome Powell has said the central bank would be patient- interpreted...
NEW YORK, March 19- U.S. "We firmly believe that the Fed will remain on hold- and that's pretty much priced in if you look at bond futures markets," said Andrew Dassori, chief investment officer at Wavelength Capital Management. In February, Fed Chair Jerome Powell also said the central bank would stop shrinking its balance sheet later this year.
*Pound pressured as Britain's May tries to agree Brexit extension. NEW YORK, March 19- The U.S. dollar slipped against a basket of major currencies on Tuesday, as concerns over the U.S. economy and expectations that the Federal Reserve will prove accommodative at a meeting this week weighed on the greenback. "What we are seeing is the market positioning for...
FRANKFURT/ LONDON, March 19- Wintershall DEA's owners are expected to shortly mandate banks for a bumper 2020 stock market listing of the European oil and gas company in a sign that the deal could take place earlier than anticipated, people close to the matter said. With core earnings of 2.8 billion euros in 2017, Wintershall DEA could be valued at around 15...
BRUSSELS, March 19- European Union judges ruled on Tuesday that Italy's rescue plan for an ailing bank five years ago was legal, prompting calls for compensation for savers who subsequently faced stricter terms because Brussels had rigidly interpreted the bloc's rules. The decision could also have repercussions for the Commission's assessment of banking...
*U.S. central bank to start two-day policy meeting. LONDON, March 19- The Japanese yen rose on Tuesday, benefiting from a U.S. dollar hit by concern over the U.S. economy and expectations that the Federal Reserve will prove accommodative at a meeting this week. The euro also profited from the weaker dollar, adding 0.2 percent to $1.1348.
BRUSSELS, March 19- European Union judges ruled on Tuesday that Italy's rescue plan for ailing Tercas bank five years ago was legal and annulled a European Commission decision that rejected the plan and forced Rome to recoup financial aid to the lender. The rescue of Tercas bank, which was sold to Banca Popolare di Bari as part of the plan, was orchestrated by...
Andy Maguire of HSBC discusses the benefits that banks and financial technology firms gain by working together. He says HSBC can help start-ups to understand the "real problems" better, while the bank gets pushed along to be less bureaucratic.
Joey Kim of People Fund explains how the company has worked with banks, the government and KakaoPay. People Fund's user base grew threefold since it partnered with KakaoPay, he says.
*MSCI's EM stocks index hits 6-1/ 2 month peak. March 19- Emerging market stocks hit a six and a half month peak on Tuesday and developing world currencies firmed against a soft dollar on expectations the U.S. Dovishness from the European Central Bank and the Fed is spurring emerging market sentiment as developing world central banks have become less worried...
BRUSSELS, March 19- European Union judges ruled on Tuesday that Italy's rescue plan for ailing Tercas bank in 2014 was legal and annulled a European Commission decision that rejected the plan and forced Rome to recoup financial aid to the lender. The rescue of Tercas bank, which was sold to Banca Popolare di Bari as part of the plan, was orchestrated by Italy's...
HONG KONG, March 19- Hong Kong stocks inched higher on Tuesday ahead of a U.S. **At the close of trade, the Hang Seng index was up 0.2 percent at 29,466.28 points, while the Hang Seng China Enterprises index rose 0.1 percent. **Global markets appear to expect the U.S. central bank to pause from hiking rates, after Chairman Jerome Powell made a pledge to stick to a "patient"...
BERLIN/ FRANKFURT, March 18- German lawmakers have criticised deputy finance minister Joerg Kukies and Goldman Sachs, alleging a conflict of interest in the U.S. investment bank advising state-backed Commerzbank on a possible merger with Deutsche Bank. Kukies, who was formerly co-head of Goldman Sachs in Germany, left the Wall Street firm a year ago to become...
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