Russia’s rouble gains 0.4% ahead of OFZ auction Most central European currencies soften against euro
April 28 (Reuters) - A jump in U.S. Treasury yields and a firmer dollar kept emerging market currencies in check and stymied developing market stocks on Wednesday as investors awaited a U.S. Federal Reserve meeting.
MSCI’s indexes of emerging currencies and stocks slipped 0.1% ahead of the Fed meeting. Markets are hoping for confirmation that policymakers have no appetite to tinker with support for the economy following a recent run of good U.S. data.
“We expect more of the same from Fed at the upcoming meeting, framing the story of no rate hike until 2024 and that Fed will be patient of inflation overshoots and be behind the curve in terms of tightening policy,” analysts at Maybank wrote in a note to clients.
Non-performing loans seen at around 3% this year Plans to make unit BRI Agro a fully digital bank within 2 years
JAKARTA, April 28 (Reuters) - Indonesia’s biggest lender by assets, Bank Rakyat Indonesia (BRI), is targetting up to an 18% jump in profits in 2021 as an economic recovery from the COVID-19 pandemic bolsters demand for loans, its chief executive told Reuters.
The bank, which manages a portfolio dominated by lending to micro, small and medium enterprises, saw profits drop 45.8% last year to 18.66 trillion rupiah ($1.29 billion) as consumption and investment slumped in Southeast Asia’s largest economy.
BRI restructured a fifth of its loans last year held by 2.8 million customers, but kept the non-performing loan (NPL) ratio at just below 3%, versus 2.80% in 2019, while hiking provisions.
By Reuters Staff
7 Min Read
LONDON (Reuters) - The Bank of Canada set the taper ball rolling last week, becoming the first major central bank to cut back on pandemic-era money-printing stimulus programmes. So who’s next?
FILE PHOTO: A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie
The big guns of central banking - the U.S. Federal Reserve, European Central Bank and the Bank of Japan - won’t officially pare stimulus for a while, a message the BOJ reinforced on Tuesday and one the Fed is expected to reiterate on Wednesday.
By Reuters Staff
2 Min Read
MADRID, April 28 (Reuters) - Spanish renewable energy company Ecoener has slashed the target size of its initial public offering by almost half, a day before closing order books and fixing a final price for what will be Madrid’s first listing this year.
Ecoener had planned to raise up to 200 million euros ($219 million) to spend on new facilities including wind farms and solar parks, but said on Wednesday it was now aiming for a maximum of 110 million euros.
“During the process of placement (of orders for stock) Ecoener decided to adjust the size of the initial offering of ordinary shares,” the company said in a stock market filing.