India's ONGC seeks 250b rupees to be raised by shareholders ' nod

[MUMBAI] India’s state-owned Oil and Natural Gas Corp said on Monday it wanted to increase 250 billion rupees (S$5.29 billion) through debt to fund acquisitions and capital expenditure this financial year. ONGC’s first debt issue in over a decade would likely purchase the government’s 51.1-per cent stake in refining and marketing firm Hindustan Petroleum Corp Ltd, company officials and analysts …

Australian banks face EU Set up to allow scrutiny

[LONDON] Nineteen banks in the European Union will need to set up new holding companies that regulators can scrutinise them more closely, an EU discussion paper says, mirroring steps taken by the United States. The European Commission suggested last November that banks headquartered outside the bloc consolidate their EU activities under an “intermediate parent undertaking” or IPU in reaction to …

Wall Street almost unanimous on US rate increase next week: survey

[NEW YORK] Wall Street’s top banks were almost unanimous on the perspective the Federal Reserve increases interest rates at its policy meeting following a more powerful-than-prediction February US payrolls report, a Reuters survey showed on Friday. 235,000 workers last month was hired by companies the 190,000 prognosis among economists polled by Reuters . A fall in unemployment, more individuals seeking …

Former DBS dealer s spoofing case

Singapore A FORMER dealer at the brokerage unit on Friday of DBS Group Holdings Ltd was convicted by a Singapore court for spoofing the securities market in the first such criminal case in the city. Dennis Tey Thean Yang, 33, pleaded guilty to eight of the 23 charges he faced, including

Citigroup names new Asean head for corporate, investment banking

Singapore CITIGROUP declared on Friday a recently selected head for corporate and investment banking (CIB) for the Association of Southeast Asian Nations (Asean). 41, David Biller, will assume the new job along with his present job as head of diversified industrials for the

Australia, NZ dollars -week lows on powerful greenback

[SYDNEY] The Australian and New Zealand dollars remained on course for their second straight weekly loss on extensive greenback strength, near two-month lows on Friday. Bonds were also under pressure as anticipations of a US rate rise next week battered on Treasuries. Returns on Australian 10-year paper soared to their highest since late 2015 at 2.98 per cent, up 24 …

China is not going to devalue yuan to arouse exports: PBOC deputy governor

China is not going to devalue its currency to stimulate exports, a deputy governor of the People’s Bank of China (PBOC) said. PICTURE: BLOOMBERG [BEIJING] China WOn’t devalue its currency to stimulate exports, a deputy governor of the People’s Bank of China (PBOC) said. “China will undoubtedly not devalue the yuan to stimulate exports, it’ll undoubtedly not take part in …

#039 & Singapore;s monetary sector likely to stay cyberattack target: Fortinet

The financial services sector in Singapore will probably stay a top goal for cybercriminals in 2017 due to worth and the sensitive nature of fiscal data the business holds, based on cybersecurity company Fortinet. ST PICTURE: DESMOND WEE SINGAPORE’S financial services sector will probably stay a top goal for cybercriminals in 2017 due to worth and the sensitive nature of …

US jobs report comes into view

The US dollar stood little altered on its small improvement from the last day bogging down as investors began to take a waitandsee approach ahead of Friday’s US jobs report. PICTURE: REUTERS [TOKYO] The US dollar stood little altered early on Wednesday, its small improvement from the last day bogging down as investors began to take a waitandsee approach ahead …