![]() ![]() The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. All Rights Reserved About Us | Contact Us | Terms of Service | Privacy Policy Still, the deal gives Europe a plan to tout at next week’s key Group of 20 meeting in Cannes, France, where countries including China and the United States have been hoping to hear a report of major progress.Ĭopyright ©. Though the new plan addresses the points considered most crucial, many analysts have contended that the bailout fund needs to be twice the size announced to be more than a temporary solution that merely buys Europe a bit more time.Įxperts have also said Europe’s banks may need double to triple the amount that officials agreed on in order to be on sound footing. “We have reached an agreement which I believe lets us give a credible and ambitious and overall response to the Greek crisis,” French President Nicolas Sarkozy told reporters, adding that “the results will be a source of huge relief worldwide.”īut that remains to be seen as markets weigh in with their response. “We believe we will have a lot of flexibility to protect the euro and avoid contagion risks,” German Chancellor Angela Merkel told journalists after the end of a meeting of euro group heads of state and government, adding that the aim was to get a leverage effect for the EFSF of four or five times.Ī strengthened bailout fund is seen as crucial in ensuring that the debt crisis doesn’t engulf Spain and Italy, and European Council President Herman Van Rompuy said Thursday that the expansion plan for the EFSF should provide “a sufficient firewall against contagion.” IMF chief Christine Lagarde welcomed “substantial progress”, but European Central Bank chief Jean-Claude Trichet warned that “all of this now requires a lot of work and a lot of quick work.” ![]() The deal includes increasing the firepower of Europe’s bailout fund, the European Financial Stability Facility, to about 1 trillion euros (US$1.4 trillion) and getting holders of Greek debt to take losses of 50%, injecting Europe’s biggest banks with about $150 billion to withstand those losses and providing Greece an additional $140 billion to stay afloat. Related: Europe given till end of week to fix its crisis or else…Īfter marathon talks, EU leaders emerged on Thursday and announced a new package of measures to rescue the euro had been agreed on. ![]() The content on this page is for information purposes only.Īfter marathon talks and emergency meetings, the European Union has finalized a deal that is set to contain the growing debt crisis.įollowing a series of emergency meetings and crisis talks, Europe’s leaders have unveiled the latest “grand plan” that would finally fix the mess. Net income for the three months ended Dec 31 fell 18% to $89 million from a year earlier after sales slowed and it booked a one-time charge on an overseas development.į&N’s $300-million 3.4% bonds maturing in 2012 were last quoted at a 5.2% yield, Standard Chartered Plc prices show.Please note that we are not authorised to provide any investment advice. The company is part-owner of Asia Pacific Breweries, the maker of Tiger Beer. arranged the syndicated loan.į&N’s corporate communications department has not replied to a Bloomberg e-mail seeking comment. New syndicated loan agreements in the Asia-Pacific region outside Japan fell by 82% this year compared to the same period in 2008 amid rising corporate defaults, data compiled by Bloomberg show.į&N also plans to issue seven-year, 5.5% bonds in a sale managed by DBS Group Holdings and Oversea-Chinese Banking Corp., a person involved in the matter said, declining to be identified before the sale is completed.īank of Tokyo-Mitsubishi UFJ, Malayan Banking Bhd., Natixis, Calyon, Bank of China and CIMB Bank Bhd. Lenders are concentrating on large, investment-grade companies in a bid to limit risk and avoid adding to more than US$1.1 trillion of writedowns and losses. Fraser & Neave, Singapore’s largest beverage maker, increased a three-year loan by 23% after banks offered more than the company initially planned to borrow, reported Bloomberg.į&N agreed to pay 1.45 percentage point over the Singapore dollar swap rate for the $370-million loan that will help it refinance maturing debt and bolster working capital, according to an e-mail sent to lenders by loan’s arrangers.
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