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MOSCOW, March 10 (Reuters) - Russia’s Sovcombank has no immediate plans for an IPO and doesn’t intend to bring forward a 2024 deadline, despite a pick up in new issues, as investor sentiment towards the banking sector remains mixed, co-owner Sergei Khotimsky told Reuters.
Sovcombank’s plans are in focus amid a pick-up in Russian initial public offerings (IPO), with retailer Fix Price raising $2 billion in an IPO last week.
Russia’s third largest private bank hired banks last year to prepare for the deal, sources familiar with the matter said.
However, Khotimsky said the timing of the IPO would depend on how investors assess the bank’s efforts to deal with non-performing loans (NPLs) in 2021.
Talks of new investors to wait till earliest 2022 Market oversupply, industry consolidation inevitable (Adds quotes, background)
KUALA LUMPUR, March 4 (Reuters) - Malaysian sovereign wealth fund Khazanah Nasional’s holding in Malaysia Airlines has been diluted as a result of debt-to-equity conversions that were part of the airline’s debt restructuring plan, the fund said on Thursday.
Khazanah said there was a “minor dilution” to its equity in the national carrier due to debt-for-equity conversions that some creditors took up, and that the fund remained the largest shareholder.
“(The debt-to-equity conversion) adds more value to the existing equity holders by taking out liability from the balance sheet,” Managing Director Shahril Ridza Ridzuan said at a virtual press briefing, without elaborating.
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NEW YORK (Reuters) - Investors concerned about demand for U.S. Treasury debt will be watching Wednesday’s 10-year auction for clues to where yields in the recently volatile market may be headed.
FILE PHOTO: A vehicle drives past the U.S. Treasury Department in Washington, D.C., U.S. December 13, 2020. Picture taken with a long exposure. REUTERS/Raphael Satter
The U.S. Treasury Department has increased debt issuance dramatically in the last year to fund coronavirus stimulus endeavors. Roughly $3.6 trillion of new government paper was issued in 2020 versus $2.9 trillion the year prior, according to SIFMA. With President Joe Biden’s $1.9 trillion fiscal package on the docket, issuance in 2021 is slated to rise to $4 trillion this year, according to ING.
(Adds central bank comment)
KYIV, March 10 (Reuters) - The deputy head of Ukraine’s central bank on Wednesday accused her own press office of trying to censor comments she gave to a local media outlet, an allegation the bank’s press chief denied.
The interview by First Deputy Governor Kateryna Rozhkova comes at a sensitive time in Ukraine’s negotiations with the International Monetary Fund after concerns over the central bank’s independence derailed loan talks last year.
The central bank has repeatedly insisted it was independent and its decision-making process was not politicised, after Governor Yakiv Smoliy resigned last year alleging political meddling.
By Reuters Staff
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FILE PHOTO: A woman looks at job listings posted on a light pole in downtown Sao Paulo, Brazil, September 30, 2020. REUTERS/Amanda Perobelli
BRASILIA (Reuters) - Brazil’s economy could grow 3.5% this year and may have shrunk last year by less than 4%, Economy Minister Paulo Guedes said on Tuesday, stressing again that a resumption of emergency cash transfers to the poor must be within a fiscal framework that ensures longer-term sustainability.
Speaking in a live online event hosted by radio station Jovem Pan, Guedes said the government is drafting employment and income programs to help the economy ease its way out of the pandemic, notably the job retention scheme which he said saved 11 million jobs last year.