CEE MARKETS-Warsaw rebounds from worst-ever hit, crown stabilises

By Jason Hovet PRAGUE, March 13 (Reuters) – The hardest-hit Central European stock markets recovered some losses on Friday, with Warsaw blue-chips adding more than 5% after their worst-ever fall in the previous session, while the Czech crown stabilised after a sharp fall. The crown firmed 0.4% to 26.10 to the euro after dropping over 2% on Thursday amid market […]

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Japanese wind fans bank interest

* Loans: First offshore wind project catches lenders’ attention By Wakako Sato and Evelynn Lin TOKYO/HONG KONG, March 13 (LPC) – Domestic and international lenders are vying for a slice of Japan’s nascent offshore wind power sector, which is expected to provide as much as ¥3trn (US$29bn) in project financing opportunities, albeit at very low margins. Akita Offshore Wind completed […]

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Global central banks boost liquidity as market panic triggers dash for cash

HONG KONG (REUTERS) – Global central banks acted to shore up money markets on Friday (March 13) after cratering share prices drove a rush for cash, hitting many regional currencies and threatening a surge in short-term borrowing costs. With most developed economies moving into partial shutdown in response to the escalating coronavirus pandemic, Norway and Sweden announced stimulus packages as European […]

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China preps another stimulus volley but holding back the big guns

HONG KONG (BLOOMBERG) – China is preparing to inject more cash into the financial system, as the slowing economy faces further pressure in the form of slumping global demand from the coronavirus pandemic. While the central bank is expected to encourage bank lending by lowering the reserve requirements in the coming days, a blitz of data on Monday (March 16) […]

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MORNING BID-Seeking a bazooka to tame the bears

A look at the day ahead from EMEA deputy markets editor Sujata Rao. The views expressed are her own. What more can policymakers do to stem the rot? Well, they could try not to make things worse. Trump did exactly that yesterday. Measures such as payroll tax cuts and paid sick leave for gig workers had been mooted, but the […]

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RPT-Cineworld could breach debt terms in worst case virus scenario

(Repeats to change story keyword used by media customers) LONDON, March 12 (Reuters) – Cinema operator Cineworld could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, the company said in its annual results release on Thursday. It said the downside scenario, in which it […]

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Most JGB yields gain, take cues from U.S. Treasuries

SYDNEY, March 12 (Reuters) – Yields on most Japanese government bonds (JGB) gained on Thursday, in line with U.S. Treasuries overnight, despite steep losses in stocks after the United States suspended travel from virus-hit Europe and the WHO declared the virus a pandemic. Benchmark 10-year JGB futures dropped 0.40 point to 154.35, with a trading volume of 40,309 lots. The […]

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More job training support for four sectors hit hardest by Covid-19

SINGAPORE – Four sectors badly affected by the coronavirus outbreak will get more support in terms of skills training and redeployment for their workers. Workforce Singapore (WSG) is beefing up its reskilling programmes for workers in the tourism, aviation, retail and food services sectors, with enhancements ranging from extending the salary support period to making them available to more employees. […]

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The end of the Mexican carry? Traders smarting from peso crash

MEXICO CITY, March 11 (Reuters) – Global currency investors who piled into the peso through the “carry trade” strategy are nursing a bloody nose after the Mexican currency tanked 12% in three weeks, and analysts are asking if it spells the end of the popular investment tactic. In a carry trade strategy, an investor borrows money in the currency of […]

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UPDATE 1-Mnuchin says no need for intervention in markets due to coronavirus

(Adds background) WASHINGTON, March 11 (Reuters) – U.S. Treasury Secretary Steven Mnuchin said banking regulators are looking at various possible short-term regulatory actions in response to the fast-spreading coronavirus outbreak, but he saw no need for intervention in financial markets. “We see no need for any intervention in the markets,” Mnuchin told reporters after a U.S. House Appropriations Committee hearing, […]

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